Archive for the 'Business' Category

10 May

SOS Cuetara to issue 200 mln euros of shares to plug hole

Spain’s SOS Cuetara (SOS.MC) said on Sunday it would issue 200 million euros of new shares to plug a hole in its accounts after top executives were discovered siphoning off funds to buy shares in the olive oil bottler. SOS said it was restating 2008 results and booking a loss after it emerged that chairman […]

10 May

Two Microsoft millionaires cultivate high-end Italian olive oil

By Melissa Allison & Amy Martinez, This fall during the olive harvest in Italy, Dan McCarthy plans to have about 180 bottles of freshly pressed olive oil shipped by air from the 50-acre Tuscan estate of his former Queen Anne customers, Enzo Schiano and Claire Beliard. To cover the airfreight, McCarthy & Schiering Wine Merchants […]

09 May

Australia: Timbercorp olives sold to harvester

By Rachel Hewitt, The harvesting of Timbercorp’s giant olive crop will resume this morning after the company struck a $15 million deal to sell the fruit to its harvester. The fate of this year’s crop – at two olive groves in northern Victoria – was uncertain after the company’s April 23 collapse. The harvest must […]

02 May

SOS Cuetara’s top execs fired, shares suspended

by Tracy Rucinski & Rodrigo de Miguel, Spain’s SOS Cuetara (SOS.MC), the world’s biggest olive oil bottler, said on Thursday it had fired its two top executives after discovering last month they had used company funds to buy SOS shares. “SOS Group’s board, which met today, has fired Jesus and Jaime Salazar Bello as chairman […]

23 Apr

Expert praises California olive oil

Going green can mean picking the right olive oil and one expert on the oil says California’s premium olive oils are often worth the extra money. University of California Cooperative Extension farm advisor Paul Vossen, an olive oil expert, says the state’s olive oil has a promising future if word of its many benefits is […]