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Knight Frank partners share £73m bonus pool

  PARTNERS in the upmarket estate agent Knight Frank have landed a £73m payout after profits rose by 10 per cent in the last financial year, buoyed by foreign investors flocking to London’s luxury property market. The firm, which advises on both residential and commercial property deals, saw pre-tax profits rise to £101.9m in the year to March – its highest level since the credit crisis – while turnover increased seven per cent to £308.4m. “Equity rich buyers” seeking property in London helped boost the firm’s residential arm, which has instructed on deals including the sale of St John’s Wood Barracks in northwest London. The bonus pool is more than double the amount awarded in 2009, although it is now shared by more people as Knight Frank has extended its partnership. Nick Thomlinson, senior partner and chairman of Knight Frank, conceded he remained cautious about the outlook for the year ahead but said the group had ...

Coty Prestige and the house of Cavalli unleash new global beauty brand

  Italy Coty Prestige unveiled the new signature feminine fragrance from the house of Roberto Cavalli. The official reveal took place at the Cavalli private villa in Florence, at a press conference attended by Roberta and Eva Cavalli, Coty Prestige President Michele Scannavini, and fragrance face Elisa Sednaoui. The scent will be launched worldwide, both in domestic and travel retail markets, from February 2012. The brand has been earmarked as another global pillar for the Coty group. "We want to establish Cavalli as a global brand from the beginning; it’s not going to be niche. It’s going to be big, global, and well distributed in all continents. We want to make it a top 20 brand." Coty Prestige Senior Vice President Commercial Jean Mortier The Cavalli beauty licence was previously held by ICR-ITF. “This [introduction] is just the beginning of the rebirth of the house of Cavalli, and will be followed by other launches,” Coty Prestige Senior Vice Preside...

Failure to solve Europe's debt crisis will cost UK taxpayers billions

  Britain has already injected £1.88bn into the European Investment Bank (EIB) and pledged another £35.7bn, equivalent to close to 2pc of UK GDP, to be drawn down as required. Although the EIB, which is the world's largest non-government borrower, ranks above other unsecured creditors, thanks to its "privileged relationship" status under the EU treaty, it could face huge losses in the event of a euro break-up. If the UK's stake in the European Bank for Reconstruction and Development (EBRD) is included then the total capital commitment for the taxpayer could rise by a further several billion pounds. On top of this the country could also be called on to stump up some of the cost of the EU's emergency funding facility the European Financial Stability Mechanism. "What the public doesn't realise is the quite simply staggering amounts of taxpayer money that has already been committed if things get significantly worse. This may be a doomsday scenario, but recent...

full brutality of former Libyan tyrant Muammar Gaddafi's regime has been revealed in chilling video footage of prison torture sessions.

The full brutality of former Libyan tyrant Muammar Gaddafi's regime has been revealed in chilling video footage of prison torture sessions. And the fallen dictatorship's former foreign minister, Musa Kusa - who was released by the British authorities six months ago after he defected to the UK in March - is facing fresh allegations that he was directly involved in the beating of political prisoners. The footage - obtained by the BBC's Panorama programme - was reportedly shot at the notorious Abu Salim prison in Tripoli. It shows crouching inmates, blindfolded and wearing blue uniforms, being repeatedly whipped and kicked by interrogators.  Brutal: A still from footage of a prisoner being whipped inside the Abu Salim prison during Gaddafi's rule Last month the remains of more than 1,200 prisoners were found in a mass grave outside the prison's walls.       More... Now the hunt for justice begins: Libya's secret files on Yvonne Fletcher, Lockerbie bombing and IRA w...

Hells Angel biker rammed intentionally, dragged a mile by East Bay Paratransit bus in San Leandro

  A paratransit bus driver intentionally rammed a Hells Angels biker on Interstate 580, and then dragged him about a mile, killing him, a CHP spokesman said. The biker, who has not been identified, was traveling eastbound on I-580 in San Leandro near Grand Avenue with a small group of Hells Angels members before 4 p.m. when an altercation began, said CHP Sgt. Trent Cross. After being hit, the motorcyclist and his bike were dragged for about a mile, said San Leandro police Lt. Greg Lemmon. Eventually, the biker was released from under the East Bay Paratransit bus, but the driver kept dragging the motorcycle, which was wedged underneath the front grill, until the vehicle stopped on the shoulder just east of the 150th Avenue onramp. The Hells Angels biker was flown to Eden Medical Center in Castro Valley, where he was pronounced dead, Lemmon said. The bus driver has been arrested, Lemmon said. Police are interviewing four witnesses who saw the incident. "The preliminary information t...

Stockton search for Hells Angels slaying suspect comes up empty

  A man suspected of fatally shooting a member of the Hells Angels at a recent funeral in San Jose was not holed up in a Stockton home Saturday as police had believed. Steve Ruiz, 38, of San Jose is being sought for allegedly shooting and killing fellow Hells Angels member Steve Tausan, 52, after the two fought Oct. 15 at a funeral for a slain motorcycle club member, according to police. Police had received information that Ruiz had been hiding out at the three-bedroom home on the 3700 block of McDougald Boulevard in Stockton, said San Jose police Sgt Jason Dwyer. Investigators asked Stockton police and the San Joaquin County sheriff's office to serve a search warrant for the home, but both agencies were unavailable, Dwyer said. As a result, San Jose police drove tactical vehicles to the scene. Neighbors said they had seen San Jose police at the scene, calling out to someone in the home to surrender. But after storming the home and firing tear gas at about 8 p.m. Saturday, poli...

The slain Libyan leader Moamer Kadhafi secretly spirited out of Libya and invested overseas more than $200 billion

  The slain Libyan leader Moamer Kadhafi secretly spirited out of Libya and invested overseas more than $200 billion -- double the amount that Western governments previously had suspected, The Los Angeles Times reported late Friday. Citing unnamed senior Libyan officials, the newspaper said US administration officials were stunned last spring when they found $37 billion in Libyan regime accounts and investments in the United States. They quickly froze the assets before Kadhafi or his aides could move them, the report said. Governments in France, Italy, England and Germany seized control of another $30 billion or so. Earlier, investigators estimated that Kadhafi had stashed perhaps another $30 billion elsewhere in the world, for a total of about $100 billion, the paper noted. But subsequent investigations by US, European and Libyan authorities determined that Kadhafi secretly sent tens of billions more abroad over the years and made sometimes lucrative investments in nearl...