Illy Chairman on Coffee Rally, Outlook & Demand
Coffee's recent dizzying rally has been fueled by a lack of insight on future supply and short-term speculation, resulting in pricier brews for consumers, according to Andrea Illy, chairman of Italian roaster Illycaffè. Illy spoke on "The Pulse with Francine Lacqua" on Bloomberg TV. (Source: Bloomberg)
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New York Post
2 hours ago
- New York Post
JPMorgan's Europe boss set to quit London for NYC
JPMorgan's European boss is set to flee London for New York after being promoted only last year — as the UK battles with an exodus of top business talent amid a flurry of new taxes imposed by the country's left-wing government. Filippo Gori, an Italian national, arrived in the British capital after a decade in Hong Kong to take over the bank's Europe, Middle East and Africa (EMEA) division from dealmaker Viswas Raghavan, who left the Jamie Dimon-led lender for Citi. Gori, 50, who previously headed the company's Asia region, is also the co-head of JPMorgan's global banking unit alongside John Simmons. Advertisement 3 Filippo Gori is leaving London for New York. Bloomberg via Getty Images A JPMorgan insider, speaking on condition of anoymity, did not point the finger at Britain's new tax rules, saying that running the Europe business from New York made sense because Gori can be 'an international voice for the EMEA region' at the bank's global headquarters. The source also pointed to his global banking title, and the fact that the Italian would be traveling in the EMEA region for '50% of his time.' Advertisement A JPMorgan spokesperson declined to comment. Britain has a budget deficit equivalent to 5.3% of the country's GDP. It has seen the recently-elected Labour government introduce a string of wealth taxes in a desperate bid to plug the black hole in the nation's finances, including ending a 200-year-old tax break for the uber-rich. The special tax break status, which formally ended on April 6, allowed well-heeled residents to gain generous allowances on money earned overseas. Advertisement The new tax rules have cast doubt on the City of London's immediate future as a global financial powerhouse. Goldman Sachs vice-chair Richard Snodde, a South African banker, announced earlier this year that he would relocate to Milan, the Italian financial center, just weeks after the UK scrapped the light-touch 'non dom' tax rules. British private equity titan Jeremy Coller decamped for Switzerland last summer. 3 Filippo Gori will be based out of JPMorgan's headquarters in New York once his move from London is complete. Christopher Sadowski Advertisement According to the recent UBS 2024 wealth report, the UK is forecast to lose 17% of its millionaires by 2028. A separate analysis by Bloomberg that reviewed British corporate filings found that more than 4,400 company directors have left the UK in the past year. It said those who quit are chiefly from the finance, insurance and property sectors — all jobs that are popular with those who favor the so-called non-dom status. Italy's right-wing government, led by staunch Donald Trump ally Georgia Meloni, brought in a $220,000 flat tax applied on income earned abroad in a bid to tempt wealthy foreigners to transfer their tax residence to the country. 3 Italian PM Giorgia Meloni, a staunch ally of President Donlad Trump, is trying to tempt wealthy financiers to the country with a flat tax. It was seen as a direct challenge to entice British-based billionaires worried about the UK government's tax grab. The Post has approached the British prime minister's office for comment.
New York Post
3 hours ago
- New York Post
Manhattan's power scene is back in full force at this luxe new Italian restaurant from Michael White: It's Marea 2.0
Midtown has its pre-pandemic swagger back — and People's Exhibit No. 1 is Santi (11 E. 53d St.), the buzzing new modern-Italian restaurant from celebrated chef Michael White. Its nexus of corporate power, great pasta and fun people-watching make it the area's hottest scene since White's Marea opened in prehistoric 2009. After splitting with the Altamarea group in 2021 due to disagreements over the company's direction, White has spent most of his time launching new venues in Florida. (A consulting gig at the Lambs Club on West 44th Street lasted only a few months in 2022.) 10 Michael White is back in NYC with Santi. EMMY PARK 10 The elegant midtown address was once home to White's Alto. EMMY PARK Santi, launched by his BBianco Hospitality Group with business partner Bruce Bronster, marks his triumphant, full-scale Big Apple return. Marea's still going strong and Midtown has other established, excellent Italian restaurants such as Il Gattopardo, Cellini and Fresco by Scotto. But others faded and the scene needed new blood. Santi delivers it for everyone — from shoppers and museum-goers to a Who's Who of Midtown glitterati. Once home to White's aughts-era hit Alto, the venue has overnight became a haunt where the city's prime movers wheel-and-deal over homemade gnocchi and tagliatelle, and cocktails such as the Fifty-Fifty, which features Taggiasca gin, made with prized Ligurian olives. Santi's pleasures unspool through several main areas designed by Michaelis Boyd, gorgeously lit by L'Observatoire International and festooned with luminous portraits from Bronster's private collection. Each section draws a different crowd. The front dining room, a few steps down from a horseshoe-shaped bar for the after-work, sip-and-flirt set, draws movers and shakers to its semicircular booths and banquettes. It's become a canteen for bankers at market-moving investment firm Jefferies Group and its CEO Rich Handler, who work upstairs. On any given afternoon or evening, you might spot Henry Kravis, Barry Diller or real estate mogul Bill Rudin, who's planning a new skyscraper a few blocks away. 10 Midtown power players are flocking to Santi. EMMY PARK 10 With dishes such a succulent veal chop, Santi's food is worthy of the five Michelin stars that White has earned at previous restaurants. . EMMY PARK Boldfaces such as Eva Longoria and Queen Rania of Jordan have popped in, too. Pop star Beck ordered a comfort dish from heaven — hand-folded tortellini ($36) filled with prosciutto, mortadella, pork and Parmigiano Reggiano, finished in a creamy sea of cheese and butter. A circular staircase leads to the slightly more intimate mezzanine, after passing a huge,1800s mirror that Bronster found buried under a Southampton barn. The upstairs area has attracted art and fashion luminaries such as designers Diane von Furstenberg and Michael Kors and painter Kehinde Wiley. The restaurant's noisiest section is the ground-floor atrium, where light globes suspended from the double-height ceiling suggest a galaxy in formation. On my visits, it drew canoodling couples in the corners and noisy groups of guys at middle tables. Fortunately, new wall fabrics and sound bafflers have begun to soften the din. 10 Amberjack crudo is one of many great seafood dishes. EMMY PARK 10 Gnocchi in tomato sauce is a standout pasta dish. EMMY PARK The menu, executed by the kitchen team of Jason Lin and Sol Han, is worthy of the five Michelin stars White earned at his other places. It boasts splendid seafood, both raw and cooked, like tasty, toothsome amberjack crudo ($32) and pleasingly moist halibut ($55) pan-seared on one side and then poached in extra-virgin olive oil. But the pastas — all original, none replicating White's previous plates — are the crowning glory. 'We've been deliberate about not copying expected dishes because that's not fun or challenging, and our guests deserve more than a rehash of old ideas,' White told me. The sautéed Italian breadcrumbs known as mollica, a White hallmark in the past, are mostly absent, letting the pasta and sauces speak for themselves. 10 Some notable guests, such as musician Beck, favor the booths in the front room. EMMY PARK 10 Beyond the front room is the elegant-but-noisy atrium. EMMY PARK Tagliatelle Ragu ($36), which Wiley has ordered more than once,gets my vote. The coarse-ground beef and pork are gently broken down to a velvety texture by a judicious infusion of milk. My favorite, though, was ricotta gnocchi ($28), lighter than the potato-filled variety and bathed in San Marzano tomato-and-basil sauce — a brave statement when too many chefs shy away from red sauce lest their dishes be mocked as Italian-American dinosaurs. 10 A sweeping staircase leads up to a mezzanine. EMMY PARK 10 The mezzanine dining area is slightly more intimate. EMMY PARK But I miss White's legendary fusilli with braised octopus and bone marrow, his heart-stopping, red-sauce masterpiece at Marea. Per Se's Thomas Keller once called his favorite dish in New York. Is there any chance we'll see it again at Santi? When asked, White smiled and said coyly, 'I'm talking to my chefs about it.'
USA Today
4 hours ago
- USA Today
$25K per night for a cruise? Look inside Regent Seven Seas' largest luxury suite ever.
$25K per night for a cruise? Look inside Regent Seven Seas' largest luxury suite ever. Show Caption Hide Caption How to find the best price, perks when booking a cruise Find the cruise that works for your budget with these tips. Problem Solved Regent Seven Seas Cruises is launching a new luxury suite, the Skyview Regent Suite, in 2026. The suite, costing $25,000 per night, will feature amenities like a private gym, massage room, and ocean views. The Seven Seas Prestige ship, debuting Dec. 13, 2026. Imagine waking up on vacation in a bed facing the ocean, before heading to your private gym for a morning workout. From there, you could unwind in a personal massage room or take in the sea breeze from a wraparound balcony. And that's before you even leave your cruise cabin. Regent Seven Seas Cruises' new Skyview Regent Suite will include those and more features. The six-person space will start at $25,000 per night when it debuts aboard the luxury line's newest ship, Seven Seas Prestige, in 2026. "At Regent, we are committed to setting new standards in ultra luxury travel, and the Skyview Regent Suite is a true embodiment of that promise," Jason Montague, Regent's chief luxury officer, said in a news release. "At nearly 9,000 square feet, this breathtaking two-level suite delivers the most exclusive and elevated experience at sea, complete with every imaginable luxury included in the voyage fare.' When will Seven Seas Prestige launch? The 822-guest Seven Seas Prestige will depart on its maiden voyage on Dec. 13, 2026. The two-week transatlantic sailing from Barcelona to Miami will visit Malaga, Spain, Madeira in Portugal and more. What does the Skyview Regent Suite include? Guests will find lavish accommodations with two bedrooms, two-and-a-half bathrooms – including a spa-like main bathroom with a hand-carved floating tub and sauna – and a formal dining area. Take in views from an ocean-facing bar, or chill on cushy sofas in the in-suite living room. Natural light will fill the space courtesy of a skylight, and a floating natural stone staircase will connect the suite's two levels – or passengers can opt to ride the private elevator. "In the Skyview Regent Suite, we aimed to capture the essence of modern Italian design, combining clean, elegant lines with exquisite craftsmanship to create a truly unforgettable experience," said Elias Sol, Senior Associate at Studio DADO, which is behind the suite's design. The room's hefty price tag comes with many perks, including a private car, driver and guide in port; included laundry and dry cleaning; a menu of linens and pillows; a butler and more. Guests will also get access to the private 12-person dining venue, The Study. The Skyview Regent Suite is one of a dozen suite categories onboard the new vessel. Where will Seven Seas Prestige sail? The ship will spend its first season in Europe and the Caribbean, with cruises available between 10 and 15 nights. Destinations include London, England; Bordeaux in France; Belize's Harvest Caye private island and more. Cruises currently start at $6,499 per person for Deluxe Veranda Suites. Bookings will open on June 25, but guests can register their interest in advance on Regent's website, by calling 1-844-473-4368 or through their travel agent. Nathan Diller is a consumer travel reporter for USA TODAY based in Nashville. You can reach him at ndiller@
