Hotel Over Ruins

The hotel being built over ruins that are said to be the first farm in Reykjavik is ISK 13.1 million over budget, according to a letter drafted by the Mayor, Steinunn Valdis Oskarsdottir.

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Baugur Rejected by Somerfield

The Guardian reports that Icelandic company Baugur’s bid to take over the British Somerfield supermarket chain has been rejected. A bid valued at one billion pounds, or 190p a share, was rejected outright.

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