January 4th, 2012
BEIJING (Reuters) China’s factory activity shrank again December as demand at home and abroad slackened, a purchasing managers’ survey showed on Friday, reinforcing the case for pro-growth policies to underpin the world’s second-largest economy.
The People’s Bank of China is widely expected to lower its requirement for the amount of cash banks must hold as reserves to let lenders inject more credit into the economy to fight headwinds from Europe’s debt crisis and sluggish U.S. demand.
The HSBC Purchasing Manager’s Index, designed to preview the state of Chinese industry before official output data are published, inched up to 48.7 in December from a 32-month low of 47.7 in November, but fell short of the flash reading of 49.
The HSBC PMI has been mostly under 50, which demarcates expansion from contraction, since July.
“While the pace of slowdown is stabilizing somewhat, weakening external demand is starting to bite,” said Qu Hongbin, China economist at HSBC.
“This, plus ongoing property market corrections, adds to calls for more aggressive action on fiscal and monetary fronts to stabilize growth and jobs, especially with prices easing rapidly.”
He said China would avoid a hard economic landing so long as policy easing measures filtered through in coming months.
HSBC believes a PMI reading of as low as 48 in China still points to annual growth of 12-13 percent in industrial output.
China’s once turbo-charged economy is on track to slow for a fourth successive quarter, easing further from the first quarter’s 9.7 percent annual growth rate with economists expecting the final three months of the year to have slipped below 9 percent.
The official PMI, due to be published on Sunday,Cheap Ralph Lauren Jackets, is expected to paint a similar picture, suggesting the world’s second-largest economy is finishing 2011 on a weak note, in tandem with the global economic outlook.
Both the official and HSBC PMIs are stuck near their weakest levels since early 2009, when China took a blow from the global financial crisis.
Economists polled by Reuters earlier this month forecast the PBOC will deliver 200 bps of required reserve ratio (RRR) cuts by the end of 2012 but refrain from an outright cut in interest rates unless quarterly GDP growth dips below 8 percent.
Economists typically view growth of 7 to 8 percent as the bare minimum needed to generate enough jobs to help China absorb the urban influx of rural migrants and maintain social harmony.
“I think the government will ratchet up pro-growth policies if (quarterly) growth falls below 8 percent, otherwise the economy could face big risks,” said Guotai Junan Securities economist Wang Hu in Shanghai.
“Another RRR cut could happen any time.”
ROOM FOR RRR CUTS
China’s central bank cut reserve requirements for commercial lenders late in November for the first time in three years.
The RRR remains at 21 percent for big banks, giving the central bank plenty of room to cut and free up funds that could be used for lending.
Persistent capital outflows from China are putting more pressure on the central bank to release cash to keep credit conditions supportive for growth.
Underlying indexes of the HSBC PMI showed softening demand at home and abroad, which helped cool inflation — a boon for Chinese policymakers, according to the data collated by UK-based information firm, Markit.
The sub-index for overall new orders edged up to 46.9 in December from November’s 45, but still signaled falling demand. New export orders shrank in a reflection of listless demand from the United States and Europe — China’s top overseas markets.
Average input costs faced by manufacturers continued to moderate as raw material prices slipped, the HSBC survey showed.
Inflation appears to be cooling, having fallen from a three-year high of 6.5 percent in July to 4.2 percent in November, creating additional room for policy easing to support growth.
HSBC’s Qu expects the government to move on the fiscal front to boost job creation, cutting taxes for exporters — a sector employing more than 30 million workers — while increasing spending on public housing and other projects.
“On top of monetary easing, mainly in the form of further reserve ratio cuts, we have long argued that fiscal policy can and should play a more important role in stabilize growth and jobs,” Qu said.
(Editing by Nick Edwards and Chris Lewis)
December 28th, 2011
Photo: Neil Rasmus / BFAnyc.com
—Kristin Studeman
Prabal Gurung doesn’t want to make an iPad case—there are already plenty of tech totes on the market. The Nepalese-born designer, who most recently collaborated with J.Crew, has even higher aspirations in mind for his next partnership. Gurung recently hinted to Style.com that it’s Apple in his eyes right now. “There’s a few ideas I want to do with Apple, but I can’t share my ideas yet because what if someone else takes them?” he asked.
Fair enough. Although he remained tight-lipped about his plans, it seems it’s not a smart-phone frock he’s hoping to create. “I just love Apple products and what they stand for,” he explained, referring to the collaborative creative community that has blossomed from apps and social media. The designer is no stranger to the world of social media. He’s an avid tweeter and recently established a blog on his Web site, where he and his team contributes Q&As, movie reviews, inspiration photos, and even contests. Gurung has shown himself to be open to outside input, even crowd-sourced input, for his design process. So it stands to reason that a tech foray like an app, one that would foster collaboration and creativity, might be a reasonable next step.
That, or an iPrabal. Either way, stay tuned.
December 27th, 2011
Photo: Courtesy Photo
Each July, fashion—the made-in-Italy kind, at least—moves south to Rome. The destination? Altaroma fashion week, Italy’s answer to haute couture, where acting President Silvia Venturini Fendi and Vogue Italia’s Franca Sozzani pick the womenswear winners of Italy’s annual Who is On Next young designer competition. (The men’s half of Who’s Next was held last month at Pitti in Florence.)
The prestigious international jury, including Suzy Menkes, Saks Fifth Avenue’s Terron Schaefer and Harvey Nichols’ Averyl Oates, spent last Saturday in a sizzling-hot Rome reviewing the work of seven ready-to-wear labels and four accessories lines for the seventh edition of the prize, which rewards winners with a feature shoot by one of Vogue Italia’s photographers and a fashion-show slot during Milan fashion week in late September. (Yoox.com, Mercedes-Benz, and Alcantara offered their own supplemental prize.)
Angelos Bratis (left), a Greek designer producing his collection in Italy, won first prize for his sleek, bias scarf-cut pieces inset with stars, while second prize went to Stella Jean, a Caribbean-Italian designer born in Rome, who created Euro-African mix of crisp pinstripe shirts and wax prints in modernized fifties hourglass shapes. Alessio Spinelli, whose eponymous shoe collection debuted in Rome this year, won the accessories prize for the innovative details of his Neon, collection like stiletto sandals with glow-in-the-dark-edged soles, or interchangeable shocking satin laces. Marta Ferri, who did a bright, floral-filled remix of fifties glamour, received the jury’s special mention.
“It’s really amazing to participate in a competition like this,” said Bratis, who spoke during a private evening tour of the Vatican with the jury and journalists assembled for the prize, a rare treat negotiated by Silvia Fendi using all her intra-Roman connections. “All of a sudden you’re in a room with some of the people who you have always dreamed of showing your collection to. So there’s 15 minutes to explain what you’re doing. And then you realize that they understand everything and that an explanation really isn’t necessary.”
—Rebecca Voight
December 23rd, 2011
PRODUCT DETAILS
AE Vintage Blazer
New Arrival
Style: 0387-1329 | 100% Cotton
$69.50
High fashion, couture-inspired but with a much nicer price tag.
- Lightweight cotton
- Chunky basketweave fabric
- Short boxy cut
- Hidden snap-front closures
- Contrast color braided trim
- Two front patch pockets
- Removable rosette pin
Imported, Machine Wash
Color: Black
Buy it here.
I simply adore this American Eagle Outfitters vintage blazer’s shape and style. It always looks modern, chic and trend-proof. I love mixing this version with an long jersey T-shirt over skinny jeans or pants — even a pencil skirt works. Layer over a pale chiffon top and add chains or pearls (or both!) to complete the look.
December 20th, 2011
Lingerie, fitness gear, and eveningwear—all in one? Versatile might be an understatement for Threeasfour’s newly launched collection of leotards, bra tops, and leggings, debuting exclusively here on Style.com. “I come to the studio all day, and then go to yoga, and then sometimes I go out at night in it,” says Adi Gil, who designs the line along with Angela Donhauser and Gabriel Asfour. “It works and really looks good for all of those occasions—that’s the magic about it.” Gil has even been sporting the Yin & Yang Body leotard while she’s out surfing. Note: They aren’t necessarily SFB (safe for beach) because they aren’t lined, but even dry, the swirling opaque and sheer one-piece will turn heads. The collection, now available at their Web store Planetofstyle.com for a price point that’s much more affordable than their runway collection, is another step in their efforts to position the line as accessible. How does the trio plan to open up next? “A collaboration—this is one of my dreams,” Gil said, listing Stella McCartney’s Adidas collection as a personal favorite. “From wet suits to yogawear to swimwear to dance, I think there is so much room for improvement and growth in those fields, in terms of style.”
—Kristin Studeman
Photo: Elisabet David
December 18th, 2011
The Boyfriend Blazer by XCVI — which counts Olivia Wilde, Molly Sims and Glee’s Dianna Agron as fans — retails for $150 at Neiman Marcus, but it can be yours for, well, free!
Limit one entry per person. No purchase necessary. Void where prohibited. Restrictions may apply.
Whats the one piece this very moment that can last forever in your closet and still always seem current and modern? Straight off your beau’s back — the Boyfriend Blazer!
Click here for official rules.
Open to residents of the United States age 18 and older, the contest runs from now until April 8 at 11:59 p.m./EST. To enter, email your name, address, daytime phone number and age, to giveaways@usmagazine.com. You must put “Boyfriend Blazer” in the subject line to be eligible. Please also include your blazer size and color preference.
Some Boyfriend Blazer rules to live by:
- You can style this with boyfriend jeans. Just make sure you put a sexy high heel with it.
- Don’t borrow a man’s jacket. The fit won’t be as flattering.
- Mix it up with a romantic tank top with ruffles or something feminine.
- Turn up the cuffs if the lining is nice. If not, go to the tailor and have it fitted properly.
By Sasha Charnin Morrison for UsMagazine.com. To read more of the Recessionista blog, click here.
This just in: 25 lucky winners will each receive one Boyfriend Blazer by XCVI (available in sizes extra-small, medium, large and extra-large and in color options of black, charcoal and cafe).
I just love this look — not just because it covers up my tuchus but because it works with everything. You can wear it with trousers or a pencil skirt, over a sequined mini-dress or rocker tee and jeans. See?
December 14th, 2011
The Jules Smith Vintage Charm School Jellies are available for $58.00 for a set of eight and $12.00 for a set of two at Jules Smith Designs. Other celebrity fans include Lindsay Lohan, AnnaLynne McCord, Selena Gomez and Miley Cyrus.
Twilight star Kristen Stewart’s new accessory? It’s hotter than R-Pattz! Anything that Kristen Stewart seems to touch turns golden or into a huge trend. Take Jules Smith’s Vintage Charm School Jellies or black rubber bracelets with mini charms. She’s been wearing these bracelets in two movies, Adventureland and the upcoming New Moon.
Buy it here.
December 9th, 2011
—Katharine K. Zarrella
Photos: Lucy Carr-Ellison
London is a hotbed of young talent in fashion, and the city is known for supporting the young, the wild, and the penniless like few other fashion capitals. Just in time for London fashion week, Style.com checked in with three of the city’s most exciting emerging designers. Today, meet Levi Palmer and Matthew Harding, the duo behind Palmer//Harding.
Considering London’s young designers are known for their conceptual, if not eccentric edge, it took a lot of guts for newcomers Levi Palmer, 30, and Matthew Harding, 26, to launch something as simple as a shirt line. But the savvy design duo, nominated for this year’s ANDAM Award, didn’t want to rush into things. “I think shirts are a neglected garment,” Harding tells Style.com. “We eventually want to do a full line, but this allows us to take it sensibly and slowly.”
For their debut at London fashion week, with the support of NEWGEN, the Central Saint Martins-trained designers pulled inspiration from the youthful naïveté found in Ingar Krauss’ photographs of juvenile delinquents for their 17 men’s shirts and 17 women’s shirts. “There was a loneliness in her photography that was really beautiful,” says Palmer. Harding adds, “We also looked at thirties couture references, so it’s kind of naïveté mixed with sophistication.”
As one might deduct from the designers’ influences, an ordinary shirt brand this is not. The gray, white, and dusty mint collection features a mix of organic spiral details as well as tight accordion pleats. Rubberized metal accents on pockets and cuffs and grosgrain detailing enhance the handcrafted feel of their wearable works. But the Egyptian cotton shirts aren’t too precious because, as Harding explains, “the shirts are special, quality pieces but we want them to be lived in as well.”
December 7th, 2011
Back in 2009, the globetrotting freelance journalist Julia Chaplin coined the term “gypset”—that being, in her words, “the chic speed of the jet-set mixed with the alternative, anti-commercialism and nomadic wile of a gypsy.” She literally wrote the book on the trend—Gypset Style—and that might’ve been it. But as her journeys found her crisscrossing the globe with a wardrobe that couldn’t keep up, the itinerant traveler decided to translate her “jet-lagged view of the world” into a tightly edited collection of summer-ready dresses, too. “I would go to these far-flung destinations and it came down to the fact that I really had nothing to wear,” Chaplin said of the inspiration for her new endeavor. “You can’t quite wear designer and you don’t want to look awful either, so these designs really suit those needs in between.”
Chaplin debuted the five dress designs, in vibrant prints and fabrics sourced from Africa and Holland, last night at Des Kohan, the off-the-beaten path destination shop that has long been home to some of L.A.’s most sought-after clientele and envious merchandise. With a business built around exclusives (Hussein Chalayan and Viktor & Rolf, among them), the store’s namesake figured it was the perfect opportunity to style Chaplin’s new wares. “I work with all these designers already and figured I wanted to showcase Gypset with the appropriate accessories, so I’ve done these exclusive bags from Bare and have Annie Costello Brown of YSL designing limited-edition jewelry,” Kohan said, as Balenciaga’s Katherine Ross, Mad Men’s Abigail Spencer, and another frequent Des Kohan collaborator, Juan Carlos Obando, browsed. “It’s all just a part of what Julia’s imagined.”
—Alexis Brunswick
Photo: Alexandra Wyman / WireImage
November 29th, 2011
They’re large, angular, with nice gold detail around the frame, plus they come in a lovely case. But the biggest news? They retail for just $49.90. We love the black and nude, but you can also collect those crazy fashion colors like hot pink and tortoise, which are already both wait listed! There’s also nautical navy, opaque white, taxi cab yellow and palm b—-h orange for those of you who like to take a walk on the wild side… Purchase Info: Buy it here.
I love wearing sunglasses that are as large as dinner plates. They cover the big trunks I have under my eyes… plus they make me look so V.I.P.
But woe is me with the cost of some of these designer frames that have a tendency to get lost, sat on or accidentally broken in two by my twin 6-year-olds. This is a great find: Curations sunglasses curated for HSN by Scoop NYC mastermind and co-founder Stefani Greenfield.
Find out which sunglasses are best for your face shape!