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The Rome-based house has regained its buzz with new products conceived by chief designer Karl Lagerfeld and Silvia Venturini Fendi, creative director of accessories. One is interchangeable straps that customers can use to personalize theirFendipurses or even other brands bags. The strapsmade in python, suede, fur or leather and costing as much as $2,400 eachare geared toward shoppers tired of cookie-cutter accessories. Mr. Lagerfeld also is offering colorful pompoms to adorn bags. One pompom made of fur and leather costs $900; another is adorned with a cartoonish image of Mr. Lagerfeld himself.Fendi is courting cost-conscious customers with straps as low as $500 and bag charms costing $350. Olivia Palermo and Jessica Alba are among the celebrities often photographed with Fendi straps or bag charms. Whowould have thought a customer would spend thousands adorning their bag in straps and pompoms? said Josie Gardner, Selfridges buying manager for accessories. Fendi is getting a great traction with consumers and has consistently posted double-digit growth in the last quarters, said Mario Ortelli, an analyst at Bernstein. Fendihas struck a sweet spot many fashion houses are betting on: customization.Other brands such as Gucci, Prada and Burberry are now offering a range of products that can be personalized.
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"The operational cost of both buy-side and sell-side setting up for this new regulation could mean profitability is impacted and that ultimately impacts the person on the street with their pension and their portfolio." So why Mifid 2? It's the sequel to Mifid 1, which has been in force since November 2007 That made it easier and cheaper to buy investments across the EU, by allowing investment firms to operate across borders more easily But the financial crash exposed some of its weaknesses So the European Commission now wants to make financial markets "more efficient, resilient and transparent" and to "strengthen the protection of investors" The new regulations come into force in 2018 A recent survey of the City suggested two out of five companies are not prepared enough to implement the new rules. They'd better get a move on. The sprawling regulations come into force in January 2018. Way forward? There are some who argue that these complex EU rules could be a big help to the City after Brexit, because they contain something called "equivalence". That allows financial companies from outside the EU to do business inside it, as long as their home country has the same standards of regulation. Image copyright AFP Image caption The City is wary of what Mifid 2 will usher in "Potentially this could be a way through the mire," says David Biggin, an adviser at PA Consulting. "For a lot of the companies talking about relocating, actually this rule might allow some light at the end of the tunnel. It's a technocratic decision rather than a political decision. It is a way forward." However, not everyone thinks "equivalence" will save the City's bacon if it finds itself with less favourable access to the EU than it has today.
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SECURITY AND PRIVACY Kaspersky Lab ZAO analyzed the Shadow Brokers new files and linked most of the samples to code used by a highly sophisticated hacking group called the Equation Group, which many security experts believe to be linked to the National Security Agency. Here, the NSA headquarters are seen in Fort Meade, Md., in December 2013.JIM LO SCALZO/EUROPEAN PRESSPHOTO AGENCY Hacking group releases files, says it is ceasing operations. The Shadow Brokers, ahacking group that claims to have obtained cyberweapons from the U.S. National Security Agency, released more files that one cybersecurity company said were linked to code used by a hacking group that could be linked to theNSA.Many security experts have said the group appears be an effort by Russian state-sponsored hackers aimed at deterring the U.S. from escalating cyber conflict. NSA can share intercepted communications. The Obama administration Thursday relaxed rules that restricted the NSA from sharing intercepted personal communications with other intelligence agencies. The New York Times says the move will reduce the risk that the NSA will miss data considered valuable to another agency. But it will also increase the risk of more officials seeing private information on innocent people. Giuliani to help guide cyber efforts.
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