FOOD & BOOZE NEWS January 31, 2011 AMARANTO OPENS AT FOUR SEASONS All the grandeur of the Four Seasons’ new London property comes together in its new top-of-the-line Italian restaurant. Think sea bass carpaccio with shaved raw artichoke salad, warm Amalfi citrus tart of white chocolate with and lime with passion fruit sorbet and great cocktails set in a glossy, high-ceilinged bar [...]
Egypt crisis takes its toll on markets January 30, 2011 EGYPTIAN President Hosni Mubarak clung with a grim determination to power last night as pressure on him to step down intensified. Outbursts of violence escalated as anti-government protests threatened to descend into chaos, sending markets tumbling across the region. At least four prisons were stormed by armed raiders and the Egyptian Museum in Cairo was [...]
WestLB is set for a breakup January 30, 2011 STRICKEN German lender WestLB is headed for a breakup as time runs out to find a solution for the bank as a whole, two people familiar with the matter said yesterday. If no buyer for the whole lender can be found — and at present no potential candidates are in sight — all risky assets [...]
Middle East enters critical few days January 30, 2011 WE must all hope that the protests in Egypt – and increasingly, across the Middle East – will lead to a blossoming of democracy and individual liberty in a region scandalously deprived of freedom for so long. There is nothing more uplifting than to see mass uprisings against hated dictators; in moments such as these, [...]
Northern Foods plans vote January 30, 2011 NORTHERN FOODS is still due to hold a shareholder meeting today to vote on its proposed merger with food manufacturer Greencore, despite its board switching to recommend a rival takeover bid by Boparan more than week ago. The Northern investor meeting can only be called off with the permission of Greencore, under the terms of [...]
What the other papers say this morning January 30, 2011 FINANCIAL TIMES BANKS WATCH BARCLAYS’ COCO PLANS Big banks on both sides of the Atlantic are weighing whether to follow Barclays as it pushes ahead with a plan to pay bonuses with innovative bonds, dubbed cocos. According to several banks present at last week’s World Economic Forum in Davos, the idea of using contingent convertible [...]
Ocado moves towards profit January 30, 2011 Grocery delivery service Ocado is expected to report a significant reduction in its losses when it reports its first annual results as a listed company tomorrow. Annual pre-tax losses at the online retailer are predicted to be around £11.6m in the year to November 2010 – less than half of the £25.5m reported a year [...]
EU closes contract law consult January 30, 2011 The consultation period closes today on controversial EU proposals to harmonise contract law across Europe. The move – designed to promote cross-country online trading – would segregate non-contractual clauses, meaning different legal systems could apply to parts of the same agreement. City law firm Allen & Overy has warned that reform could cause confusion for [...]
BSM saved by the AA January 30, 2011 The UK’s largest driving school, British School of Motoring, has been rescued by rival AA, which will pay a nominal fee to help save the failing business. A deal is expected this week, with the BSM brand kept, and the AA taking on its liabilities.
Goldman’s UK chief awarded bonus of £9m January 30, 2011 MICHAEL Sherwood, Goldman Sachs’ head of UK and Europe, has been awarded a bonus of $14.4m (£9m). The payment of free shares, which will not fully vest until 2016, dwarf even the bonus paid to Goldman chief executive Lloyd Blankfein. Sherwood’s payout represents a 60 per cent premium on his stock award the year before, [...]
