The last word in dinner: the Krug experience at Petrus September 26, 2011 THERE are a lot of champagne-matched dinners to be had in London. But few are as stellar, or premium, as the one at Gordon Ramsay’s relaunched Petrus in Belgravia (not far from the old site at the Berkeley). This is a £450 per head chance to sup on Petrus chef Mark Askew’s finest dishes, prepared [...]
Bank’s Broadbent signals more QE September 26, 2011 Britain’s economy will not need to weaken much further for the Bank of England to start a second round of quantitative easing, Bank policymaker Ben Broadbent said on Monday. Economists’ expectations have shifted sharply in recent weeks to expect a top-up to the Bank’s £200bn of asset purchases in either October or November, due to [...]
Global markets dragged down by Eurozone crisis September 26, 2011 Gains by banks were outweighed by heavy losses among miners in early trading today as Eurozone bailout fears and bleak forecasts on world economic growth cast a shadow over markets. After last week’s rollercoaster ride, volatility looked set to continue as Eurozone leaders conceded that they would have to pump in trillions to have an [...]
Buffett raises stake in Tesco September 26, 2011 Billionaire US investor Warren Buffett has nudged up his stake in Tesco, according to Reuters sources. Analysts said the move could be interpreted as a vote of confidence in new chief executive Phil Clarke. Buffett’s Berkshire Hathaway last month bought around 34m Tesco shares for about £120m, lifting its stake in the British supermarket group [...]
Ricardo profits bounce back September 26, 2011 Engineering and automotive consultancy Ricardo posted higher full-year pretax profits as long-term clients in the automotive sector returned, and raised its final dividend eight per cent. Ricardo was chosen as a strategic supplier by Jaguar Land Rover in the development of new products in April, and the company signed a similar agreement with Great Wall [...]
Aberdeen Asset management sees clients pull £800m September 26, 2011 UK fund manager Aberdeen Asset Management said clients pulled £800m from its funds in the two months to the end of August as market volatility hit demand for its fixed income and alternative products. Assets under management fell to £176.9bn at the end of August, 4.8 per cent lower than at 30 June, as slumping [...]
Trillions needed to shore up Euro September 25, 2011 EUROZONE leaders are close to accepting the market’s view that they will need to throw trillions of euros at the region’s debt crisis to have an impact. Following an IMF summit in Washington led by Christine Lagarde, the region’s leaders have admitted that Europe’s bailout fund needs to be beefed up and leveraged to have [...]
Retailers: Shop floor beats uni September 25, 2011 SHELF-STACKING in a supermarket from 16 can be a better career move than studying for A-levels and a degree, the British Retail Consortium (BRC) will claim today. On-the-job training and good career prospects can be preferable to a longer formal education with higher debts, the industry body will say. Retailers invest an average of £1,275 [...]
$625m Russia payout for BP September 25, 2011 THE BOARD of Russia’s third-largest oil producer, TNK-BP, has approved an additional $1.25bn (£806m) dividend payout to shareholders, a spokesman said last night. A source familiar with the situation said the additional payout for the first half of 2011 was approved at a board meeting in Cyprus on Friday. “On top of $4.2bn already paid [...]
Crisis exposes the rot at euro’s heart September 25, 2011 EVER since it was created, the Eurozone’s mission has been to defy economic constraints in the name of politics. Whenever they were told by economists that the euro wasn’t an optimal currency zone, the Euro-establishment would simply shrug, rejecting technical economic arguments out of hand. Anything is possible with enough political will, they would say, [...]
