Flambéed Quail and Pho Risotto Touch Down at Stonestown Galleria
PARK MERCED — Inner Richmond Vietnamese restaurant Le Soleil has just opened its second location after over thirty years in business. This time, it's daughters Bianca and Kandyce Wong running things, as they take the beloved Le Soleil menu and add on a few items of their own, as well as an updated look to their new Stonestown Galleria digs.
OAKLAND — Lucuma is a new modern Peruvian restaurant adding to Oakland's vibrant downtown dining scene from partners Renzo Roca and Garrett Morris. Diners can expect some classic dishes like lomo saltado, arroz cahufa, and plenty of crudo, as well as fun brunch dishes such as croissant relleno and lucuma French toast.
OAKLAND — The new Bistro 4293 brings the cuisine of Azerbaijan to Oakland, the Mercury News reports. Located at 4293 Piedmont Avenue, the new restaurant offers dishes such as Xocali lamb shank and dushbara, or ground meat dumplings, per the Merc . See More: San Francisco Restaurant Openings
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Sorrell attempts to revive struggling ad firm with merger talks
Sir Martin Sorrell is vying to revive his struggling advertising agency by exploring a potential takeover of a rival group. S4 Capital, which was founded by Sir Martin in 2018, confirmed it has received an approach from MSQ Partners about a possible merger. The company said any deal would be structured as an acquisition of MSQ Partners by S4 Capital, but warned discussions were at a 'very preliminary stage' and there was no certainty an agreement would be reached. Shares in S4 Capital jumped as much as 10pc on announcement of the talks. MSQ Partners, which is majority-owned by US private equity firm One Equity Partners, was contacted for comment. The discussions will raise questions over the future of Sir Martin, who founded S4 Capital following his acrimonious departure from WPP. He grew the company rapidly in its first few years through a slew of acquisitions. But the ad firm, which counts Amazon and Google among its clients, has been hit by a slowdown in advertising spend and accounting blunders that forced it to delay its financial results twice. S4 has also issued a string of profit warnings in recent years after falling short on optimistic revenue forecasts. Shares have collapsed more than 90pc in the last five years with the company's market value now below £140m, down from a peak of around £5bn in 2021. The ad firm has rolled out heavy cost-cutting measures, slashing hundreds of roles and cutting discretionary spending, but still posted a loss of £307m last year after taking a £280m write-down owing to tough trading conditions. London-based MSQ Partners, which was founded in 2011, employs more than 1,850 people worldwide and counts Diageo, Unilever and Vodafone among its clients. It is not the first time S4 Partners has been linked to a potential merger. The ad firm last year received a takeover offer from US marketing group Stagwell but Sir Martin rebuffed the offer, the Wall Street Journal reported at the time. It comes amid an accelerating trend of consolidation across the advertising industry as traditional agencies grapple with the dominance of tech giants and the rapid growth of artificial intelligence (AI). Omnicom and Interpublic are gearing up for a merger that will create the world's largest advertising company, worth $30bn (£22bn). WPP, which was overtaken by French rival Publicis last year, has also been linked to a potential tie-up with Accenture. WPP, which has appointed former Microsoft executive Cindy Rose to replace Mark Read as its chief executive from next month, has itself wielded the axe on 7,000 jobs over the last year in an effort to slim down its business and cut costs. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
9 hours ago
Driver faces up to $110,000 in fines for speeding
GENEVA -- The driver was clocked going 27 kilometers per hour (17 mph) over the speed limit on a street in the Swiss city of Lausanne, and now he's facing up to 90,000 Swiss francs (over $110,000) in fines as a result. But he can afford it. Why the eye-popping penalty? Because the speedster, a repeat offender, is one of Switzerland's wealthiest people, and the Vaud canton, or region, serves up fines based on factors like income, fortune or general family financial situation. The Swiss are not alone. Germany, France, Austria and the Nordic countries all issue punishments based on a person's wealth. The recent fine isn't even a record in Switzerland. In 2010, a millionaire Ferrari driver got a ticket equal to about $290,000 for speeding in the eastern canton of St. Gallen. Back then, the Swiss safety group Road Cross said rich drivers had been lightly punished until voters approved penal law overhaul three years earlier that let judges hand down fines based on personal income and wealth for misdemeanors like speeding and drunk driving. Under today's rules, an indigent person might spend a night in jail instead of a fine, while the wealthiest in the rich Alpine country could be on the hook for tens of thousands. A court in the Swiss canton of Vaud recently ruled that the tycoon must pay 10,000 Swiss francs ($12,300) up front and could be forced to pay the rest — 80,000 more — if he's caught for a similar roadway infraction over the next three years. Switzerland's '24 Heures' newspaper first reported the case and said the man, who was not identified, was a French citizen listed by Swiss economic weekly Bilan among the 300 richest people in Switzerland — with a fortune in the hundreds of millions of dollars. The daily reported that an automated police radar photographed the offender driving at 77 kilometers per hour (48 mph) in a 50 kph (31 mph) zone on a Lausanne street. A quick-calculating prosecutor tallied the maximum fine the driver faced under the law, the report said. Vincent Derouand, a spokesperson for the Vaud public prosecutors office, said the defendant didn't contest the decision, which was handed down in June for the infraction nearly a year ago — in August 2024. The Vaud criminal code sets a maximum financial penalty based on the "personal and economic situation of the offender at the time of the ruling' — notably taking into account issues like income, fortune, lifestyle and family financial needs. The newspaper reported that he had already been caught for a similar speeding infraction eight years ago, and also paid 10,000 Swiss francs in penalty and faced another 60,000 if another infraction had taken place within the following two years. In Switzerland, penalties for speeding can even catch up with the cops: One officer was fined for racing at nearly twice the speed limit through Geneva streets back in 2016 while chasing thieves who had blown up a bank teller machine.
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Trump's tariffs are now in place. Alcohol, a cup of joe and Toyotas are about to cost a whole lot more
President Donald Trump's global tariffs, ranging from 10 to 50 percent, took effect on Thursday, igniting fear among consumers, companies and investors about potential price hikes. Everyday items ranging from coffee to Toyotas, home furnishings to Gap jeans, are expected to become more expensive as companies adjust their prices to counteract the impact of tariffs. While the president has asked companies to absorb any increases in costs, many cannot forever. Even luxury items such as Range Rovers, French wines, or Rolex watches are likely to face prices hikes as they navigate 10 percent, 15 percent, and 39 percent tariffs, respectively, from the president. While Trump wants tariffs to promote domestic production and purchasing, Americans will most likely bear the cost. Economic experts agree that sweeping tariffs on goods from countries could lead to supply chain issues, price spikes, or even inflation. Here are some of the goods expected to cost more. Alcohol Consumers of French, Italian, or Spanish wines, Scotch whiskey, and aperitifs such as Aperol, can expect to see the price of their favorite alcoholic beverage rise due to the 15 percent tariff on the European Union. The E.U. is a major exporter of wines and spirits to the U.S. In 2024 alone, the E.U. accounted for $3.4 billion worth of imported spirits. Despite pleas from the beverage industry, the president's trade deal did not create exemptions for alcohol, which will likely drive up the price of imported wine or liquor – either in stores or restaurants. 'Without productive negotiations reducing reciprocal tariffs on wine and spirits, American wine retailers anticipate a significant decline in sales on top of the already difficult market, as well as significant job losses and subsequent business closures,' Tom Wark, the executive director of the Association of Wine Retailers, said. A letter to the president from the Toast Not Tariffs Coalition, a group of 57 associations representing the U.S. alcohol industry and related industries, said tariffs on the E.U. could result in 25,000 American job losses, and nearly $2 billion in lost sales. Diageo, the maker of Guinness, Bailey's, Johnnie Walker, and more, said the company expects to see a $200 million slump as a result of the tariffs. Cars and car parts Already, consumers have seen cars and car parts become more expensive over the last few months as a result of Trump's tariffs because the U.S. relies heavily on its trading partners for auto parts. Cox Automotive, an industry service and technology provider, expects the sticker price of vehicles to rise anywhere from four-to-eight percent by the end of the year. That means the average car price would be above $50,000. While the president struck several deals with countries, many of them still make imported vehicles more expensive. Imported cars from the U.K., such as Range Rovers, are subject to a 10 percent tariff. Japan, which sells more cars to the U.S. than any other country, is facing a 15 percent tariff rate, which is expected to cause major disruption. Toyota said on August 7 it expects a $9.5 billion profit loss for the year. "It's honestly very difficult for us to predict what will happen regarding the market environment," Takanori Azuma, Toyota's head of finance, said. But given that many car parts are imported from Japan, the tariffs are likely to hurt U.S. carmakers as well. General Motors projects a $4 billion loss, Stellantis, the maker of Jeeps, said it anticipates tariffs will add $1.7 billion in expenses, and Ford, which builds more cars in the U.S. than any of its rivals, said it expects tariffs to cause a $2 billion loss this year. Clothing Clothing is expected to see one of the most significant price increases since the U.S. is the largest single importer of apparel, and much of it comes from countries in Asia. 'The 2025 tariffs disproportionately affect clothing and textiles, with consumers facing 40% higher shoe prices and 38% higher apparel prices in the short-run,' the Budget Lab at Yale, a nonpartisan policy research center, said in a recent analysis. Shoes and apparel could remain 19 percent and 17 percent higher, respectively, in the long run, the report added. Vietnam, one of the largest exporters of appear to the U.S., has agreed to a 20 percent tariff. Brands such as Nike, Adidas, Zara, and Gap manufacture much of their clothing in Vietnam. While many can absorb some of those costs, even raising prices 10 percent would make a $65 pair of shoes $71.50, without tax. Bjorn Gulden, the CEO of Adidas, said the tariffs 'will directly increase the cost of our products for the U.S.' Other countries that are high producers of clothing face significant tariffs as well. Bangladesh has a 20 percent tariff, while Indonesia and Cambodia both face a 19 percent tariff. India, also a large producer of apparel, faces a steep tariff of 25 percent and Trump has threatened to increase that to 50 percent by the end of August if the country does not stop importing Russian oil. While the U.S. also imports a large portion of clothing from China, which is still negotiating a trade deal, Trump's decision to get rid of the de minimis exemption will make it more costly for consumers to purchase cheap clothing from stores like Shein or Temu. Coffee The U.S. relies heavily on Brazil to import coffee for the 165 million people who need their daily caffeine fix, but Trump's 50 percent tariff threatens the long-term availability and price of the drink. "When people go to their local coffee shop, whether it's Starbucks or something else, by and large they will likely be buying some form of Brazilian coffee," Monica de Bolle, senior fellow at the Peterson Institute for International Economics, told NPR. "A 50 percent tariff will kill that market." Household products: appliances, cookware, furniture Everyday household items made with steel or aluminum, such as cookware, appliances, furniture, and more, are likely going to be impacted by Trump's steep 50 percent industry tariffs. The U.S. relies heavily on its trading partners, particularly Canada and Mexico, for steel and aluminium imports. Nearly half of the aluminum used in the U.S. is imported, while less than a quarter of steel is imported. But that doesn't mean consumers won't see price increases. One small business, Heritage Steel, a family-owned cookware manufacturer in Tennessee, told NBC News that they recently received a tariff bill of $75,000 on an order of handles – and they're anticipating higher bills in the future. Since the U.S. does not have many specialized steel manufacturers, Heritage Steel imports approximately 75 percent of its raw material. Unlike other cookware manufacturers, they only import raw material and create their products in the U.S. Danny Henn, the vice president of operations for Hertiage Steel, told NBC News that the company wants to keep its products moderately priced, but at the same time, cannot absorb the new price of steel. They've raised their prices approximately 15 percent to make up for it. 'We're happy and proud to be a provider of really high-quality cookware, but one that's more affordably priced than some of the others on the market,' Henn said. 'We want to continue to offer the best price we can, given our constraints.' Watches Although imported watches are not an everyday essential, luxury wristwatches made in Switzerland are likely to see significant price increases thanks to the 39 percent tariff imposed on the country on Thursday. That means Americans looking to purchase a watch from recognizable brands such as Rolex, Breitling, Patek Philippe, Omega, or TAG Heuer may have to pay significantly more. An analysis of the impact, conducted by Bob's Watches, a secondhand watch retailer, found that a $9,900 stainless steel Breitling could rise to $11,080. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
