Banking • KBC American property developer Base Village Owner is suing Leuven- based KBC and three other EuropeanbanksinaNewYorkcourt for a total of $406 million (€309 million), alleging that the banks defaulted on promised financing for apartments, shops and a hotel complex in March 2007. The four European banks, the complaint says, withdrew after the collapse of Lehman Brothers, which was also involved in financing the project.

Commodities • Boerenbond The Boerenbond (Farming Union) last week issued a plea to end financial speculation on raw materials prices, following a number of recent price increases. Wheat prices are now at their highest level for two years as a result of “unethical and unacceptable” speculation, the union said.

Entertainment • Studio 100 Multimedia entertainment group Studio 100 is preparing to take its Plopsaland theme parks to Germany, as part of a further phase of integration following the takeover of EM Entertainment in 2008. Last week Studio 100 reported net profits of €6.6 million on sales for 2009 of €132.4 million.

Supermarkets • Colruyt Supermarket chain Colruyt has cancelled contracts with 20 non- food suppliers on ethical grounds after more than 100 social audits carried out in China, Thailand and Vietnam. According to Colruyt, working conditions at the companies concerned do not meet minimum standards or the products – mainly household products, toys and school materials – fail to conform to European safety standards.

Tourism • Club Med Tourism group Club Med has announced a three-year plan of “intensive cooperation” with Brussels Airlines from April of next year. The agreement should provide the airline with 50,000 extra passengers a year flying out of Zaventem. Club Med will also target Flemish customers by providing Dutch-speaking tour representatives at 12 of its holiday destinations.