QUAFFER’S CORNER October 31, 2011 HEAD SOMMELIER AND MANAGER OF LUTYENS RESTAURANT Pinot Noir is a tricky grape to grow. Countries in the New World struggle to reproduce the fragrance and elegance that characterise red Burgundy where this grape originates (and, I would add, the best wines of Germany, where it is know as Spätburgunder). New Zealand is probably the [...]
St Paul’s Dean steps down as pressure mounts over protest October 31, 2011 The dean of St Paul’s Cathedral has resigned, saying his position had become untenable. The Very Rev Graeme Knowles said the past fortnight had been a testing time. It follows weeks of protests outside the cathedral by anti-capitalist protesters, which led to the building being closed for the first time since Word War II. City [...]
House prices fall as confidence ebbs away October 31, 2011 The fall in house prices in England and Wales accelerated in October as consumers become increasingly worried about the outlook for the economy and shy away from buying homes, property data firm Hometrack said. Average prices dipped 0.2 per cent on the month compared to falls of 0.1 per cent in each of the five [...]
Euro area growth to fall sharply warns OECD October 31, 2011 The euro area is headed towards a sharp economic slowdown in 2012, with some countries set for negative growth, and failure to restore confidence in battered state finances could prompt a major contraction in developed countries, the OECD said on Monday. In a report released just days before a summit of G20 leaders in Cannes [...]
Miners peg back markets October 31, 2011 European shares fell early in the session with miners hurt by falling metals prices while the afterglow of last week’s Eurozone debt deal began to fade. Miners were dented by Japan wading into the currency markets to rein in the value of the soaring yen, which sent the dollar up. A stronger dollar makes dollar-priced [...]
Ofgem fines Npower £2m October 31, 2011 Energy regulator Ofgem has fined Npower £2m for failing to handle complaints properly. Ofgem said Npower had not recorded complaints properly or given dissatisfied complainers details of the Energy Ombudsman’s redress service. It added that Npower had now remedied all of the breaches of the regulations for which it was fined. A spokesman for NPower [...]
JJB issues profit warning as losses widen October 31, 2011 JJB Sports, the struggling British retailer rescued by a deal with landlords in March, posted wider first-half losses and warned the full-year outcome was likely to fall short of internal expectations. “As with most retailers, our year-end outturn is dependent on Christmas trading, nevertheless if current trading conditions continue our year-end outturn is likely to [...]
Japan moves to rein in soaring yen October 31, 2011 Japan sold the yen for the second time in less than three months after it hit another record high against the dollar, saying it intervened to counter speculative moves that were hurting the economy. Finance Minister Jun Azumi said Tokyo had stepped into the market and would continue to intervene until it was satisfied with [...]
Barclays profits up as bad debt costs fall October 31, 2011 Barclays reported a five per cent rise in underlying quarterly profit as lower charges for bad debt at the bank offset a third consecutive sharp fall in investment banking revenues as the euro zone financial crisis deepened. Barclays said it did not intend to raise any equity capital. It said pre-tax profit in the three [...]
Amanda Staveley seals her biggest deal October 31, 2011 She reportedly turned down Prince Andrew, and on Saturday Middle Eastern dealmaker Amanda Staveley rejected Mehrdad Ghodoussi twice before accepting him as her new husband at an opulent Buckinghamshire wedding. The acceptance on the third time of asking – as is customary in Iranian tradition – was one of two marriage ceremonies at the union [...]
