Traditional recipes

Chef Brian Malarkey Gets Ready for Derby Day

Chef Brian Malarkey Gets Ready for Derby Day

Rachelle King covers the Austin Food & Wine Festival

Austin FOOD & WINE Festival | Getty Images

Malarkey appeared in ABC’s The Taste, as well as on season three of Top Chef.

This past weekend I had the pleasure of interviewing chef Brian Malarkey (ABC's The Taste, Top Chef season three) at the Austin FOOD & WINE Festival. Conversation turned to this weekend's Kentucky Derby, his love of horses, and recipes he created just for Derby Day. Malarkey grew up on a farm in Oregon, with a mother who was a horse trainer and he participated in rodeo competitions during high school, so his love of horses began at an early age.

Turn the page to today, chef Malarkey has created a thriving group of restaurants in San Diego, Scottsdale, and has a Searsucker location set to open in Austin this month. When he’s not filming an episode of The Taste or opening up his latest restaurant, family, food, and horses take center stage.

Malarkey is the owner of horse Sir Searsucker, running its first race at Santa Anita this spring, with Hollywood Park up next in line. With deep-seeded family ties to the Kentucky Derby, Malarkey has continued to nurture his love of horses, as his uncle is the track photographer at Churchill Downs, giving Malarkey access to the sights, sounds, and action of Derby Day up close and personal. A seasoned photographer himself, Malarkey attends horse racing’s biggest race every year, photographing the 20 thoroughbreds as they "run for the roses," the most coveted prize at the Kentucky Derby. Last year, Malarkey’s photographic eye and love of horses landed him the cover of the Kentucky Derby Calendar.

Malarkey credits the time he has spent in the South, more pointedly, his time in Kentucky, with influencing his cooking.


Try These Recipes from Santa Monica’s Hottest Brunch Spot

Chef Brian Malarkey shares the most popular brunch dishes at Herringbone.

Published on April 14, 2017

Chef Brian Malarkey‘s rise to culinary fame started when he was a finalist on the third season of Top Chef. After that, he went on to become the winning judge and mentor on The Taste (Season 1), and since then, he’s created more than a dozen successful restaurants, including four Searsucker outposts and three Herringbone locations, and authored the cookbook Come Early, Stay Late.

Since its opening in 2015, the Santa Monica Herringbone (managed by the Hakkasan Group) has become a brunch mainstay. The 7,400-square-foot, beachy-chic restaurant conceptualized by acclaimed designer Thomas Shoos features large outdoor dining patios surrounded by lush greenery and wood planters bursting with fragrant herbs. A living wall at the entrance helps to bring the eatery’s locally-sourced and coastal California aesthetic to life.

We chatted with Malarkey to learn more about the restaurant, his daily routine, and his favorite brunch recipes on the menu.


Atelier

Project Overview: Produce creative lifestyle imagery for Downtown Los Angeles's newest luxury living highrise. Soaring 33 stories above the new and upcoming downtown area, the goal was to showcase the building in a timeless and elegant way. The goal was to capture marketing and advertising collateral prior to the building grand opening.

I approached this project as Atelier was the model. Looking to showcase the buildings floor to ceiling windows, amazing amenities and breathtaking views of the city, leaving the models to add background to this unbelievable building.

Client: Atelier Downtown Los Angeles

Project: Lifestyle | Marketing Shoot

Creative Direction / Photography: Justin Swindle

Production Team: Dot and Arrow Productions

Producer: Muriel Schenider

Hair and Make Up: Jill Colwell

Assistants: Jordan Zulifquar / Gui Cha


Where to Drink on National Margarita Day

If you’re going on this weekend, here’s a round up of spots you can get your tequila and lime on at for National Margarita Day.

For the latest buzz among the North Hollywood neighborhood dining scene, executive Chef Warren Schwartz’s food & drink workshop Warren’s Blackboard at The Beverly Garland is not to be missed. The playful combination of fresh citrus juices, Don Julio Reposado tequila, pineapple and spicy jalapenos makes for a heavenly margarita with a nice little kick.

After undergoing a $5 million transformation last year, the newly restyled W San Diego has set the bar yet again as one of the original boutique lifestyle hotel brands. With a focus on unique cocktails, the W San Diego serves up a delicious Ginger, Blackberry and Chili Margarita made with Milagro Anejo/Snap, fresh ginger root, blackberry puree, green and red chili’s, perfectly balanced with agave nectar and expertly topped off with fresh lime juice.

Spur Restaurant & Bar, located in the Teton Mountain Lodge & Spa of Jackson Hole, WY serves a margarita sure to warm visitors up during cold winter months. Executive Chef Kevin Humphrey’s Spicy Blood Orange and Passion Fruit Margarita combines infused jalapeño tequila, muddled citrus, a passion fruit or blood orange puree, and is finished with a classic salted rim.

Beaumont’s Eatery in San Diego’s beach town La Jolla, CA combines great eats and good vibes with killer cocktails. Lead bartender Gavin McManes pours a signature Jr.’s Spicy Pineapple Margarita that heats things up with habanero-infused Reposado Tequila, fresh-squeezed pineapple juice and lime juice.

Dylan Prime, the Tribeca staple which just reopened this December with a new look and culinary perspective, offers an 1897 Fire cocktail, made with Cazadores Blanco Tequila, Illegal Mezal, Lemon, Grapefruit, Honey, Hellfire Habanero Shrub and Hopped Grapefruit Bitters. Longtime owner John Mautone has brought in Consulting Chef Kerry Heffernan (Eleven Madison Park, Montracht, Le Regence, Restaurant Bouley) to execute Modern American cuisine which now focuses on seasonal ingredients, fresh game and seafood. The new menu features items such as Arctic char with Jerusalem artichoke, tea brined duck breast with farro, housemade charcuterie and a make your own martini menu with stuffed olives with lobster, oyster and kimchee.

Located in the heart of downtown San Diego, CA, The Commons Bar proudly serves a delicious Skinny Scorpion made with Espolon Tequila, jalapeños muddled with fresh lime, cilantro, agave nectar and a splash of soda.

For a margarita with a sophisticated twist, Encore Champagne Bar & Dining Room in San Diego’s Gaslamp District offers the Sparkling Hibiscus Margarita ($12). The refreshing sparkling-cocktail is made with Ixa Organic Tequila, Fresh Lab Hibiscus Liqueur, fresh citrus and Swedish Bitters under a float of Piper-Heidsieck Brut. Encore Gaslamp, a premier champagne-centric concept in the heart of San Diego’s Gaslamp Quarter, recently celebrated its opening in January 2014 and specializes in an extensive selection of fine champagnes and sparkling wines ranging from classic to rare vintages.

Tucked inside The Cosmopolitan, homegrown Las Vegas burger concept Holsteins has a lady-like offering perfect for Margarita Day. Made with Camarena Tequila, St. Germaine liquor, fresh lime juice and simple syrup, The Holsteins Margarita is finished with a sparkling Prosecco float, and dainty lime wedge garnish.Renowned for fresh and wholesome ingredients, True Food Kitchen delights visitors with an organic Cucumber-Citrus Skinny Margarita that exceeds any other low-cal cocktail. This refreshing drink contains Ixá Organic Silver Tequila, crisp lime, fresh mint and a splash of soda.

What’s a party without a little kick? Celebrate National Margarita Day with one of San Diego’s most creative blends, the Avocado-Rita at ‘Ritas Cantina at Harrah’s Rincon Casino and Resort in Valley Center, CA. Made with Avion Silver, triple sec, simple syrup, fresh avocado and lime juice, one sip delights your taste buds with bold and fresh flavor.

Set on 60,000 desert acres in Tucson, Arizona’s Saguaro National Park, Tanque Verde Ranch takes pride in helping guests relax with the Ranch’s specialty Prickly Pear Margarita. This margarita is made with reposado tequila, Cointreua, Drambuie, bitters, freshly picked prickly pear juice from an on-property harvest, agave nectar, and lemon, garnished with lime.

One of the trendiest hotels on Waikiki Beach, and a stones throw from the Ala Moana shopping mecca on O’ahu The Modern Honolulu’s library-themed bar, The Study gives a little nod to John Gray’s well-known book with its masculine and feminine inspired take on the traditional margarita:

  • Men Are From Mars: Head ‘south of the border’ with this handcrafted libation which sees manly Jose Cuervo Traditional paired with a feminine accent of St. Germaine elderflower liqueur, finished with a savory dash of olive gastrique and a pilsner float ($14).
  • Women Are From Venus: Only the best will do for the ladies – Imaginatively served in a wine glass, fragrant St. Germaine elderflower liqueur meets Jose Cuervo Traditional tequila, nicely balanced with sweet and sour “a la minute,” and a seductive bonnet of cabernet ($14).

Executive Chef Brian Malarkey’s hot spot Searsucker | San Diego & Del Mar, CA utilizes fresh, local and seasonal ingredients in unique ways to create the most innovative cocktails. Just like Malarkey’s personality, the cocktail menu serves playful yet serious cocktails including their Cinema-Inspired Margarita. A twisted version of a margarita, The “Latin Cinema” made with buttered popcorn tequila, pressed lime and agave nectar is inspired from the popular and classic movie theater snack, and is both sweet and satisfying to each palate.

Executive Chef Richard Sandoval’s authentic Mexican cantina Venga Venga Cantina & Tequila Bar has an extensive collection of over 100 tequilas and mezcals. One of the most unique margaritas on the menu is the Toro Toro, which is made with el Jimador reposed tequila, citrus, and a blood orange habanero infused puree, and served with a mole rim.

Located in Rancho Santa Fe, CA, The Pony Room at Rancho Valencia Resort & Spa is serving up their seasonal sipper, El Rey, made with Herencia Tequila, Barolo Chinato and topped off with Citrus Juice.

With its farm-to-table dining ethos and chic gastro-pub feel Tiburon Tavern at The Lodge at Tiburon is a class act. Highlighting Matadora Gold Tequila, sweet agave nectar, and fresh fruit juice their Tiburon Tavern Margarita is served over ice with a decadent Gran Marnier float. In four words: this cocktail is incredible!

Enjoy 15FiftyFive Cocktail Lounge’s signature Chill Breeze Margarita while you watch the waves at the iconic Surf & Sand Resort in Laguna Beach, CA. Coupling Espolon Tequila Blanco and Cointreau, the Chill Breeze Margarita is finished with cucumber, fresh lime and orange juice complete with a dusted Togarashi chili powder rim.

Departing from the general concept of a hotel restaurant, Chandlers Restaurant & Lounge, in Carlsbad, CA presents a world of its own. One of the most sought after restaurants in North San Diego County and located at Hilton Carlsbad Oceanfront Resort & Spa, Chandler’s brings innovation and style to the local restaurant scene with eclectic, seasonal menus and specialty cocktails. The Chandler’s Margarita combines Silver Tequila, Mezcal, Patron Citronge, fresh lime juice, agave nectar and is finished with a salted rim – the perfect drink to enjoy the ocean views.

Award-winning chef, Anthony Meidenbauer and Block 16 owner Billy Richardson added a contemporary twist to one of the hippest locales off-the-strip in Vegas with their retro fine dining joint The Barrymore. Soak up the ambience in this food and wine lovers haven, while they serve up their Margarita de la Casa – a delectable blend of Davalos Añejo Tequila, St. Germain, agave nectar and lime.

Well known for their extensive selection of craft ales and world beers, Miss Rita at The Venetian’s very own tavern Public House in Las Vegas is not to be missed. A cheeky mix of Mescal, fresh lime and triple sec The Miss Rita is sweetened with OJ and a touch of agave – the perfect tipple for people watching along the Canal Shoppes.

New York City’s only Relais & Chateaux continues to offer guests singular experiences truly personalized for the hotel guest. The in-room mixology program allows for The Surrey to become even more of an extension of your home with your very own personal bartender in room. Guests select their spirit, vodka, gin, tequila, rum or bourbon and a personal bartender arrives to their room with an old fashioned bar cart with all the fixings needed for 4-5 perfect drinks. With the choice of tequila the bartender will shake up a Blackberry Mint Margarita with blackberries, mint, lime juice, simple syrup and Patrón Silver. Invite your friends, you have your very own high class bar in your room!


Understanding The Five French Mother Sauces A Brief Overview

Watch the full S is for Sauce Culinary Bootcamp Video Lecture here: https://youtu.be/EUyXvO9MQJk.
Mother Sauce Resource Page: http://stellaculinary.com/podcasts/video/understanding-the-five-french-mother-sauces-a-brief-overview.
If you’re serious about taking your cooking to the next level, mastering the art of sauce making is a must..
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In fact, one of the biggest divides between the amateur and professional chef comes from the latter’s ability to make a multitude of amazing sauces that can elevate a dish to the next level..
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Anyone with a good probe thermometer and a little practice can pan roast or grill a steak mid-rare, but the accompanying sauce that transforms that steak into a high end entree seems like a daunting task to the uninitiated..
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To learn sauces, you must first start at the beginning, and understand the framework laid out in western culinary schools today The Five French Mother Sauces..
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Admittedly, these five mother sauces and their derivatives are extremely old school, and their popularity has been in steady decline for a few decades. But this doesn’t mean they’re useless, or understanding them is a waster of time..
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In the above video, I give you an overview of the Five French Mother Sauces. This video will serve as a jumping off point for the next lecture in this series my technique based approach to sauce making that when combined with flavor structure, will allow you to make any sauce you could ever imagine.

Video taken from the channel: Jacob Burton


‘Top Chef’ preview: All-Star Brian Malarkey feeds on chaos while fellow chefs feast on fish stew [WATCH VIDEOS]

Chef and restaurateur Brian Malarkey, who was a finalist on season 3 of “Top Chef,” apparently thrives on chaos, according to a preview clip of this week’s episode of the elimination challenge. The 14 remaining chefs madly rush into L.A.’s Union Station with just an hour before guests arrive. We witness season 12’s Melissa King taking care of some last-minute chopping chores for her beef tartare.

She notes that Brian is also making beef tartare and admits that she isn’t sure what he is putting on there. “I do know the guy is kind of ADD, he has a lot going on in his head.” We witness Brian taken out fermented egg yolks from a container. “Everything’s coming together,” he says. “Chop up a few things, some herbs. I’m going to be ready right on time.”

He then suggests that the soon-to-arrive 200 guests “is nothing.” This,” he adds, “is what I do.”

“I have to keep it light. I have to have fun. I look down the line, the chefs are struggling so hard” — cut to a clip of season 6 and 8’s Jennifer Carroll, grimacing as she grates lemons

Brian concludes: “You don’t want the struggle food. You want the happy food. So come to my station.” Watch the clip below.

Earlier in the second episode of season 17, Jennifer joins fellow chefs season 11’s Stephanie Cmar and Season 1 and 15’s Lee Anne Wong as they chow down on the Indian dishes served at one of the late Los Angeles Times critic Jonathan Gold’s top-rated restaurants, Mayoura.

They are served fish curry, one of the recipes that the eatery is known for, by its owner Dr. Padmini Aniyan. She tells the ladies that Gold “had a huge impact on our business.” Stephanie declares the food “absolutely gorgeous.” Lee Anne observes that “Jonathan helped elevate and made their food important.”

Be sure to make your predictions so that the contestants can see how they&rsquore faring in our racetrack odds. You can keep changing your predictions until just before the next episode airs every Thursday on Bravo. You&rsquoll compete to win a spot on our leaderboard and eternal bragging rights. See our contest rules and sound off with other fans in our reality TV forum. Read more Gold Derby entertainment news.


In the kitchen with: brian malarkey’s lasagna


One of the exciting things about editing this column is the opportunity to work with incredible people. When Grace and I put our heads together and came up with the idea to do a Top Chef series, we never imagined in a thousand years that we’d have the chance to work one-on-one with the Top Chefs to produce their recipes for the column. This first series will last the month of July, and starts with Brian Malarkey. When I gave the column specs to Brian, that we like to offer our readers seasonal and accessible recipes, Brian was very kind and responsive. He talked me through exactly how the lasagna should be, and here we are! We actually started working on this series in the winter, so Brian offered us a great recipe for Butternut Squash Lasagna with Sage and Lemon butter.

I start to see butternut squash at my local farm in a few weeks, but if butternut squash isn’t available just yet where you are or you prefer to wait til peak season to use it, you can substitute any seasonal squash with a similar flesh, and get wonderful results all the same. This style of easy comfort food fits right in with the food Brian will be serving at his new restaurant, Searsucker, in San Diego which opens this summer. We’re very very honored to have Brian on the column! Stay tuned next week for another Top Chef star! -Kristina

About Brian : As an award-winning Executive Chef, Brian Malarkey’s passion for food and entertaining is the driving force behind his pursuits in both the culinary and entertainment industry. In 2007, he was cast as a contestant on Bravo’s Emmy-nominated series, “Top Chef 3 Miami,” where he advanced to the finale gaining national recognition for his talents, high-energy and captivating charm.

CLICK HERE for more about Brian and the full recipe after the jump!

More about Brian: Brian is a professionally trained, award-winning chef who was surrounded by a family of talented cooks. A native of Bend, Oregon, Brian lived a cowboy lifestyle, growing up on a horse ranch and spending summers on the Oregon coast. He was inspired by the cooking of his grandmother in her beach house kitchen, where she was often joined by her old friend James Beard. After being seduced all of his life by all the fresh seafood and abundant produce that the Oregon country side has to offer, Brian enrolled in Western Culinary Institute’s Le Cordon Bleu cooking school in Portland. He got his start in Los Angeles, at Michael Richard’s Citrus, and from there moved to Minneapolis, Seattle, and San Diego. In each city, he has opened new locations for The Oceanaire Seafood Room restaurants. Since opening The Oceanaire in San Diego, it has received more than 60 industry awards, including Brian’s Gold Medallion for Chef of the Year and Best Seafood-Fine Dining (2006-2009), San Diego’s Best Chef (2009), Zagat Top Ten Restaurants (2007), Wine Spectator Award of Excellence (2005-2008), and the DiRoNA Award of Excellence.

Currently Brian hosts a series of weekly episodes on BRAVOTV.com for “Top Chef 6 Las Vegas” called “The Remix” where he puts healthy and fast spins on winning dishes. He is also working on two cookbooks and writes a weekly blog on BRAVOTV.com and SanDiegoMagazine.com where he dishes about all things culinary.

Brian resides in San Diego with his beautiful wife, Chantelle, their first child Hunter, twins on the way, and their dog Stella.

Butternut Squash Lasagna

1 or 2 Large Butternut squash – Peeled, cored and sliced thin 1/4 inch
10 to 14 Pasta Sheets – Cooked
1 handful Spinach
6 cloves Garlic
1 bunch Italian Parsley
1 stick Butter (114g)
¼ Cup Flour
3 ½ Cups Whole Milk
3 Cups Shredded Mozzarella
½ Cup Parmesan
10 each Sage Leaves – Sliced Thin
1 each Lemon – Zest
Salt and Pepper and Olive Oil

Make the Lasagna

You will need a 13x9x2 baking dish (a regular glass one or any type of casserole will do)

Drizzle the sheet tray with olive oil and place the slices of butternut squash on it, season with salt and pepper, repeat another layer until all the butternut is layered. Cover with foil and bake for about 8 to 10 minutes until the squash is cooked yet still firm enough to break apart.


While that is working start on your roux: ½ stick of butter in the pot and melt until almost browned, whisk in the flour and continue to cook for about 30 seconds, slowly whisk in the milk and bring to a boil, Add the garlic and continue to cook at a medium heat until mixture thickens. Transfer the mixture to the blender and blend in the Spinach/parsley. Season with salt and Pepper.

Rub the Baking dish with a little butter and begin the layers: Cream Sauce, pasta, Mozza, Parma, butternut – Repeat. Make sure the top layer has cheese on top. Cover with Foil and Bake for 40 minutes, remove foil and bake for another 15 or until the top is crispy golden brown. Let rest for 10 minutes before serving

Serve with Sage/Lemon Brown Butter: In small sauté pan bring the remaining butter to a light brown color – Very hot and bubbling add Sage, Zest, salt and Pepper. Spoon over a little on each piece.

Why Brian Chose this Recipe

I chose this recipe because I love the color, the flavor, the texture and the seasonality of it as well as the nutritional value.

This summer promises to be a busy one for Chef Brian. Brian is making his return to television, hosting a TLC special called “Mega Bites”, which aired in June. The one-hour show paired Brian with a food scientist, an engineer, and hundreds of community volunteers, to help the community of La Cañada Flintridge tackle the creation of the world’s largest Rice Krispies Treat for a fundraiser to benefit the children’s programs at the community center. (Brian’s portrait by Chantelle Marie of Chantelle Photography)

In addition to “Mega Bites,” Brian will open his first restaurant, named Searsucker, with nightlife magnate, James Brennan. Located in the epicenter of San Diego’s Gaslamp Quarter, on the corner of 5th and Market, Searsucker will serve a menu of New American Classic cuisine emphasizing approachable and unpretentious food that doesn’t take itself too seriously. Though the menu does not specifically focus on seafood, the SEA in Searsucker pays homage to their love of the ocean and coastal location. Specialty cocktails made with local and unique ingredients compliment the menu which is also local, sustainable and house-made.

Nationally acclaimed designer Thomas Shoos has created a space that is laid-back, comfortable and worn… yet classic. Not unlike the seersucker, which is a paradox in itself, a smooth and rough material, originally worn by the poor, then adopted by the rich and now accessible to all.

Guests are greeted by the energy of a bustling bar and lounge, exhibition kitchen and chef’s table, where Malarkey plans to give cooking demos and entertain the crowd. Searsucker, will serve lunch and dinner daily and brunch on weekends.

Recipe images by Kristina Gill: Glass (Marinha Grande) casserole dish (Revol Porcelaine), Serving piece (traditional Khmer silverwork) plate (mud australia) fork (eBay)


Q&A with The Taste’s Brian Malarkey

Having advanced to the finale of Top Chef 3 Miami, Chef Brian Malarkey knows what it takes to stand out in a cooking competition. His television experience, combined with the success of his five restaurants in southern California, make him an ideal judge of cooks on ABC’s new show The Taste. There, he’ll coach contestants through a series of culinary challenges and elimination rounds as they vie to create the best-tasting dishes.

We talked to Brian to learn all about how he learned to cook, his experience on Top Chef, and the best cooking advice he’s ever received. Keep reading to hear what he had to say.

How did your grandmother’s cooking inspire your own cooking style? How would you describe your approach to cooking?

My grandmother was my first introduction to formal cuisine. She had coursed out meals and fingerbowls, all in Victorian elegance. She let me know that there was much more to food than just nutritional value and eating to fill your stomach. That there was a whole social aspect to dining and that it was very proper to sit around the table, eat, talk and enjoy your company. It was the first time I saw a formality to food. White tablecloth dining is not necessarily something I like to do, but it at least broadened my horizons. I do believe I snuck my first glass of wine and beer at grandma’s Thanksgiving table.

What was the most important thing you learned competing on the 3rd season of Top Chef? How did it prepare you for this experience?

Humility. It taught me humility and the ability to laugh at myself – to not take myself too seriously. It gave me a lot of confidence to perform and take risks. Once you fail in front of millions of people, you are less afraid of failing again. You don’t want to fail again, but your fear factor is lessened.

What inspired you to join The Taste?

The challenge of it, the unique concept for the show, and the chance to rub shoulders with culinary greats like Bourdain, Nigella and Ludo. Plus, I couldn’t wait to see the look on Bourdain’s face when I arrived on set after he tried to kick me off Top Chef three times!

Of all the judges on The Taste, you have the most experience with cooking competitions. What unique point of view did you bring to the table?

I could see the competition from both points of view – from that of the judges and that of the contestants. I know what it’s like to put your food out there for a critique on national TV, and I think that helped me when I mentored my team because I was able to give them some extra insight.

What was different about this show than others you’ve participated in?

That’s easy…I got to be a judge instead of a contestant! Though, the competition between the judges’ teams got fierce too.

Is there anyone who gave you a chance in your career, whom you’ve considered a mentor?

One of the first jobs I had out of culinary school was at Chef Michel Richard’s Citrus in Los Angeles, working under Patric Kuh and Alain Giraud. Being at Citrus, watching these two chefs work and put out delicious food night after night, made me realize that this is what I wanted to do. It didn’t feel like work to me because I loved it. I always knew I had a passion for cooking and entertaining, but I found my passion for being a chef while working for Patric and Alain.

What’s the best cooking advice you’ve ever received? The best you’ve ever given?

My advice is about fundamentals…Season properly, cook at – and to – the right temperature, and always use the best product possible. The best advice I ever received relates to that: “Don’t count the pennies you are saving, count the dollars you are making.” Skimping on quality ingredients, a quality service team, and great cooks is not the way to build a successful restaurant.

What was the most valuable advice you gave while working on the show, and to whom?

I’d say the best advice I gave was, “Have fun, don’t be afraid, and stay out of your head.”

You’re a partner in 5 successful restaurants. What would you tell someone who wants to start his/her own restaurant?

Make sure you can run a successful restaurant for someone else before diving into ownership. Once you are ready to own, find investors that really believe in your vision and the product you are trying to put out there. That’s what worked for me. Oh, and be prepared for some LONG hours. Rewarding, but long.

Were there any hilarious or outrageous moments on the set of The Taste?

Battling it out with Ludo, day after day.

Any specific challenges or frustrations?

The blind tasting! The chance that you might, at any moment, vote off your own team member was brutal. Those were high-anxiety filled times.

What’s next for you after The Taste?

I am looking forward to spending some quality time with my beautiful wife, Chantelle, and our kids. We have a 4-year old boy and a 2-year old pair of twins. Also, we’ll be taking an overdue family vacation. I’ll be spending time at my restaurants in San Diego and at Searsucker Scottsdale, which we just opened. I’ll be in Austin a lot too as we are getting ready to open a Searsucker in March.


The 2021 California Avocado Season Promises an Abundance of Delicious Fruit and Flavor

The California Avocado Commission (CAC) is proud to announce the new season, with an abundance of fresh, delicious fruit available now through late summer. When cooking for yourself or your family at home, consumers are encouraged to take advantage of fresh and local California avocados to help elevate every meal for any occasion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210405005022/en/

Dungeness Crab Stuffed California Avocado by Chef Brian Malarkey (Photo: Business Wire)

Widely known as a finalist on Bravo’s Top Chef All-Stars and frequent judge on Food Network’s Guy’s Grocery Games, Chef Brian Malarkey joins CAC in celebrating the season kickoff by developing two fresh and unique California avocado-inspired dishes for consumers to recreate in their own kitchens. Based in San Diego, Chef Malarkey has created over 15 wildly successful restaurant concepts throughout his career. He is the visionary behind some of the most well-known restaurants across Southern California and beyond, such as Herb & Wood, ANIMAE and Herb & Sea.

Chef Malarkey is a professionally trained, award-winning chef who was surrounded by a family of talented cooks. He grew up on a horse ranch in Oregon and spent his summers at his grandmother’s beach house enjoying fresh seafood on the coast. He was often joined in the kitchen by James Beard, his grandmother’s longtime friend and one of America’s most notable chefs, where Malarkey discovered his love for food and cooking at a young age.

"During my time living on the West Coast, I developed a strong appreciation for fresh, local produce and ingredients, which you’ll find throughout my menu offerings at my restaurants," said Chef Malarkey. "When California avocado season rolls around, I seek out these delicious avocados to shape my cuisine, adding vibrant color, creamy texture and one-of-a-kind flavor to my dishes. There’s comfort in selecting foods that are locally sourced because they’re freshly picked and at their richest flavor, all while supporting the local community."

Chef Malarkey’s love of fresh, coastal cuisine is highlighted in his Dungeness Crab Stuffed California Avocado recipe, which pairs a Pacific seafood delicacy with delicious in-season California avocados. The sweetness from the crab, the zest from the vinaigrette and the creaminess of the avocado come together to deliver a punch of flavor in every bite. Additionally, his Cast Iron California Avocado & Peppercorn Filet Mignon with Broken Chipotle Vinaigrette takes a fresh spin on a turf classic, using a cast iron cooking technique to add a hint of smokiness to the California avocado, complemented by the subtly sweet and spicy flavors of the chipotle vinaigrette.

A delicious, heart-healthy superfood, one-third of a medium avocado (50 g) has 80 calories and contributes nearly 20 vitamins and minerals, making it a nutrient-dense choice. California avocados are also naturally sodium-, cholesterol- and trans fat-free, and help increase the absorption of fat-soluble nutrients, like vitamins A, D, K and E.

California avocado enthusiasts can access seasonal recipes like this and more at CaliforniaAvocado.com, and follow along on Facebook at Facebook.com/CaliforniaAvocados, and on Twitter and Instagram at @ca_avocados.

Dungeness Crab Stuffed California Avocado
Recipe created by Chef Brian Malarkey for the California Avocado Commission

Prep time: 10 minutes
Cook time: 10 minutes
Total time: 20 minutes

1 cup cherry tomatoes, whole

1/2 cup extra virgin olive oil, divided

1 Tbsp. sea salt flakes, divided

12 oz. lump Dungeness crab meat

2 ripe, Fresh California Avocados, cut in half, seeded and peeled

Remove the outer skin of the shallots, and slice them crosswise into thin rings.

Heat a medium skillet over medium high heat with avocado oil.

Add the cherry tomatoes and shallot slices to the skillet, and cook for about 5 minutes, or until caramelized and shallot is translucent.

Transfer the tomato-shallot mixture into a blender and puree by slowly adding the sherry vinegar and half of the olive oil until it becomes an emulsified mixture. Season with a bit of the sea salt to taste. Set aside.

In a small bowl, pick the tarragon and dill off the stems, and add half of the chopped chives. Zest the lemon on top of the hand-picked herbs. Set aside.

Segment the lemon by cutting off one end so it sits flat. Then trim the peel off the sides, removing the pith and seeds (reserve the peels, do not discard). Cut the lemon into six pieces and set aside.

There will be leftover lemon juice on the cutting board from segmenting the lemon. Add this juice, along with the juice from the reserved peels to the bowl with the herbs.

Add the crab meat and remaining olive oil to the bowl. Gently toss together until combined. Add a little sea salt to taste.

To plate the dish, sprinkle a little sea salt over each avocado half, and spoon a generous amount of the tomato vinaigrette on top (you will have leftover vinaigrette). Add the crab mixture to each half and garnish with lemon segments, remaining chopped chives and remaining sea salt to taste.

*Large avocados are recommended for these recipes. A large avocado averages about 8 ounces. If using smaller or larger size avocados adjust the quantity accordingly.

Cast Iron California Avocado & Peppercorn Filet Mignon with Broken Chipotle Vinaigrette
Recipe created by Chef Brian Malarkey for the California Avocado Commission

Prep time: 10 minutes
Cook time: 25 minutes
Total time: 35 minutes

4 (6-oz.) filet mignon steaks

1 (7-oz.) can chipotle in adobo sauce

2 Tbsp. extra virgin olive oil

2 Tbsp. sea salt flakes, divided

2 ripe, Fresh California Avocados, cut in half and seeded

2 tsp. toasted white sesame seeds, for garnish

1/2 bunch cilantro, for garnish

Remove the filet steaks from the refrigerator and set aside.

To prepare the chipotle vinaigrette, place the entire contents of the can of chipotle into a blender. Zest 1/3 of the limes, then add its juice and zest into the blender with the agave. Run the blender on medium until smooth. Pour the chipotle mixture into a small bowl and gently fold in olive oil. This creates a broken vinaigrette.

Heat a cast iron pan (a thick sauté pan will also work) over medium high heat.

Season steaks on both sides with the pink peppercorn and about 2/3 of the sea salt.

When the pan is hot, add the avocado oil and sear the steaks on both sides – about 3-5 minutes per side for medium rare (an internal temperature of 135° F). Remove the steaks and set aside.

Gently remove avocado peels.

While the steaks rest, turn the stove to high heat and place the avocado halves in the cast iron pan flat side down. Sear for 2-3 minutes until charred. Cut each avocado half into thirds. Set aside.

To finish, slice each filet against the grain on a bias (at a diagonal), and place on a plate. Arrange the avocado wedges around each steak and drizzle chipotle vinaigrette on top of everything.

Garnish steaks and charred avocado wedges with the toasted sesame seeds, cilantro leaves, the remaining sea salt and zest from the remaining limes. Cut the limes into wedges and serve on the side.

*Large avocados are recommended for these recipes. A large avocado averages about 8 ounces. If using smaller or larger size avocados adjust the quantity accordingly.

About the California Avocado Commission
Created in 1978, the California Avocado Commission strives to enhance the premium positioning of California avocados through advertising, promotion and public relations, and engages in related industry activities. California avocados are cultivated with uncompromising dedication to quality and freshness, by nearly 3,000 growers in the Golden State. The California Avocado Commission serves as the official information source for California avocados and the California avocado industry. Visit CaliforniaAvocado.com, join us at Facebook.com/CaliforniaAvocados and @CA_Avocados on Twitter, Pinterest and Instagram or shop for California avocado merchandise at Shop.CaliforniaAvocado.com.

Bitcoin Ends Week in Volatile Flux With China Rattling Bulls

UPDATE 2-California to lift most COVID-19 limits, freeing up businesses

A New Report From JPMorgan Shows Just How Big Tether Has Become

Alden Declares Victory in Its Monthslong Pursuit of Tribune

Exclusive-U.S. prepares to downgrade Mexico air safety rating, sources say

UPDATE 4-Apple App Store profits look ɽisproportionate,' U.S. judge tells CEO Cook

A federal judge on Friday grilled Apple Inc Chief Executive Tim Cook over whether the iPhone maker's App Store profits from developers such as "Fortnite" maker Epic Games are justified and whether Apple faces any real competitive pressure to change its ways. Cook testified for more than two hours in Oakland, California, as the closing witness in Apple's defense against Epic's charges that the iPhone maker's App Store controls and commissions have created a monopoly that Apple illegally abuses.

Wealth Fund That Quadrupled Profit Now Pivots With Bet on Europe

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.One of Africa’s largest sovereign wealth funds rode the wave of U.S. technology stocks to a banner 2020. Now, it’s betting Europe will play catch-up.The Nigerian Sovereign Investment Authority, fresh off a 51% surge in assets that took the fund above $2 billion, is boosting its exposure to European stocks and will add some Japanese equities, Chief Executive Officer Uche Orji said in an interview. The Goldman Sachs Group Inc. alumnus sees opportunity as Europe begins to open up from Covid lockdowns.“Last year, Europe underperformed America big time” as investors moved funds to technology companies profiting from the shift to online services at the onset of the coronavirus pandemic, Orji said. As the global economy reopens, countries with broader industrial bases and services such as Europe “will become more interesting,” he said.The Euro Stoxx 50 equity benchmark has climbed almost 11% this year, buoyed by expectations of a rapid recovery as vaccinations against the coronavirus progress while fiscal and monetary policies across the region remain loose. It’s outperformed both the S&P 500 Index and MSCI All Countries World Index, which have risen 9.6% and 7.5% respectively in the year-to-date.Expanding FootprintThe NSIA has $2.1 billion of assets under management. About a third of that amount is held by its Future Generations Fund, which buys equities in developed and emerging markets. The authority had 25% of the FGF invested in stocks last year, with the “bulk” in the U.S., while European stocks accounted for less than 4%, Orji said.“We are just going to add more capital to expand our footprints in Europe and Japan, but Europe in particular is an area where we have not had a big presence,” he said.Orji, 51, has more than two decades of experience in international banking, with an MBA from Harvard Business School. Prior to his appointment as CEO of the NSIA in 2012, he’s had stints at Goldman Sachs Asset Management LP, JPMorgan Chase & Co. and UBS Securities.The NSIA reported a four-fold increase in profit last year to 160 billion naira ($390 million). Returns this year will likely trail 2020 as a rally in global equities eases up and as it invests in infrastructure projects that can take longer to generate income, Orji said.The authority plans to establish a $200 million fund that builds health-care facilities to treat diseases including cancer and orthopedics. Africa’s most populous country has for decades lacked adequate investment in health care, prompting citizens including President Muhammadu Buhari to seek treatment abroad.The NSIA plans to finance the health-care projects with co-investors, Orji said, without providing more details.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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Apple App Store profits look ɽisproportionate,' U.S. judge tells CEO Cook

(Reuters) -A federal judge on Friday grilled Apple Inc Chief Executive Tim Cook over whether the iPhone maker's App Store profits from developers such as "Fortnite" maker Epic Games are justified and whether Apple faces any real competitive pressure to change its ways. Cook testified for more than two hours in Oakland, California, as the closing witness in Apple's defense against Epic's charges that the iPhone maker's App Store controls and commissions have created a monopoly that Apple illegally abuses. At the end of testimony, Judge Yvonne Gonzalez Rogers questioned Cook, pressing him to concede that game developers generate most App Store revenue and help subsidize other apps on the store that pay no commission.

Teck Resources Gives Up Gains

Teck Resources (TECK, daily) broke out on May 5, did well for a while but then fell sharply Wed. and slid Thur, both in heavy volume.

Trudeau Tightens Up Mortgages After Macklem Sounds Housing Alarm

(Bloomberg) -- Canadian officials escalated efforts to cool the nation’s booming housing market, moving ahead with tighter mortgage qualification rules after the central bank issued a fresh warning against buyers taking on too much debt.Prime Minister Justin Trudeau’s government set a new benchmark interest rate on Thursday afternoon to determine whether people can qualify for mortgages that are insured by Canada’s housing agency. The move matches an April decision by the nation’s banking regulator to do the same for uninsured mortgages.The regulator -- the Office of the Superintendent of Financial Institutions -- announced earlier Thursday it would implement its new rules June 1.Those steps coincided with a stern warning from Bank of Canada Governor Tiff Macklem in the morning cautioning that Canadians should neither assume interest rates will remain at historic lows nor expect recent sharp gains in home prices to continue.“It is vitally important that homeownership remain within reach for Canadians,” Finance Minister Chrystia Freeland said in a statement.The moves come amid a surge in housing prices that’s raising concern among policy makers and economists. Cheap mortgages and new remote-working conditions have spurred a frenzy of demand for more spacious homes, with house hunters bidding up prices across the country.Canadians are so alarmed by the red-hot housing that nearly half the respondents in a Nanos Research Group poll for Bloomberg News say they’d like to see the Bank of Canada raise borrowing costs to curb demand for real estate and stabilize prices.Still, the measures announced Thursday are seen as incremental steps rather than representing a fundamental shift in policy.With the changes, home buyers will have to show they can afford a minimum rate of 5.25%. The current threshold, based on posted rates of Canada’s six largest lenders, is 4.79%. Economists have been estimating the tighter qualification restrictions would reduce the buying power of households by about 5%.The changes will have little impact on current housing price dynamics, according to Benjamin Tal, deputy chief economist at Canadian Imperial Bank of Commerce.“This is not a game changer by any stretch of the imagination and it was highly expected,” Tal said by phone from Toronto.The measures from the government and the regulator came only hours after the Bank of Canada released its annual financial stability report, which highlighted the growing vulnerabilities associated with overleveraged households and speculative housing activity. It flagged three urban markets -- Toronto, Hamilton and Montreal -- as showing excess “exuberance,” with the national capital of Ottawa on the cusp of crossing that threshold.‘Not Normal”At a press conference, Macklem said some people have taken on “significantly” more debt, with many carrying very large mortgages relative to income. Borrowers and lenders need to understand that interest rates won’t always be at historic lows, and home buyers won’t be able to rely on rising values, he said.“It is important to understand that the recent rapid increases in home prices are not normal,” Macklem said. “Counting on ever higher house prices to build home equity that can be used to refinance mortgages in the future is a bad idea.”Outside of the warnings Thursday, it’s not clear how much the central bank can do to cool the market.Growing household vulnerabilities could give policy makers more reason to consider raising borrowing costs, for example, but higher rates would also inflate risks -- such as slow growth or a price correction. Macklem’s next interest-rate decision is due June 9 and the Bank of Canada has said it won’t consider raising its 0.25% benchmark rate until he economy is recovers fully from the Covid-19 pandemic.The Bank of Canada’s financial system review did find that Canada’s lenders could absorb a significant amount of losses in the case of another shock. The central bank said household debt and housing market vulnerabilities probably don’t pose a significant systemic threat to bank solvency, even though they could undermine future growth.“We have to look at the whole economy,” Macklem said at the press conference. “There are important parts of the economy that remain very weak, and the economy needs our support.”(Updates with context throughout.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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Nvidia sets 4-for-1 stock split, shares rise

The company's stock, which was last up at over $600 in premarket trading, has gained nearly 12% this year after its value more than doubled in 2020. Stock splits can potentially attract retail investors who make small trades. Santa Clara, California-based Nvidia said stock holders of record on July 21 would receive dividend of three additional shares after the close of trading on July 19, with the stock trading on a split-adjusted basis beginning July 20.

UPDATE 2-Ford Motor, SK Innovation announce EV battery joint venture in N. America

Ford Motor Co and South Korean battery maker SK Innovation on Thursday announced they will form a battery joint venture in North America to support the No. 2 U.S. automaker's electric vehicle rollout. The companies said they have signed a memorandum of understanding for the formation of the venture, called BlueOvalSK. Reuters on Wednesday reported plans for the joint venture.

Daimler Disagrees With Tesla and VW’s Batteries-or-Bust View

(Bloomberg) -- Daimler AG’s truck chief expects hydrogen-powered big rigs to play an important role in slashing emissions from the transportation sector despite the technological hurdles and skepticism raised by two prominent rivals.Focusing solely on battery-electric vehicles would be risky because of the scarcity of certain raw materials and challenges grids will have supporting wide-ranging charging networks for trucks and buses, Martin Daum, Daimler Truck’s chief executive officer, said in a phone interview.“We cannot afford to bank on just one technology to reach the climate goals,” Daum said. “The focus until 2025 will be 100% on battery-electric vehicles. Between 2025 and 2035, we’re going to need both battery-electric and fuel cell vehicles because the massively growing infrastructure requirements require a two-legged approach.”Fuel cells, which generate electricity from hydrogen and therefore eliminate the need to recharge batteries, have been touted for years as a potential alternative to combustion engines. But high costs and sparse fueling infrastructure have stood in the way of broader adoption and left the technology far behind battery-electric powertrains in the passenger-car market.Electrifying commercial vehicles is more complex -- they’re larger, heavier and used for everything from deliveries to supermarkets in urban areas to long-haul transport in remote areas. Daimler recently formed a joint venture with rival Volvo AB to jointly develop fuel cell stacks.Daimler’s DetractorsWhile prominent industry leaders including Tesla Inc.’s Elon Musk and Volkswagen AG’s Herbert Diess have repeatedly criticized fuel cells and argued battery power is the only way forward, Daimler and Volvo aren’t alone in seeing long-term potential.“Decarbonization of the energy mix represents the most profound shift in energy since the start of the industrial revolution,” Sanford Bernstein analysts led by Neil Beveridge said in a note to clients. “It is simply impossible to reach net zero by 2050 without hydrogen playing a major role.”Daimler’s truck division is the world’s largest maker of commercial vehicles and on track to be spun off from the Mercedes-Benz luxury-car operations this year. The split reflects the diverging technology trends between passenger cars and commercial vehicles. Both will need enormous investment in new technology to comply with stricter emissions standards.Daum, 61, mapped out more aggressive profitability targets on Thursday and objectives to generate the funds needed to navigate the industry’s transformation.“We want to be a resilient company that can avoid losses even in difficult years,” he said. The unit plans to list at the Frankfurt stock exchange later this year and could enter the country’s blue-chip DAX Index.Global PresenceDaimler boasts a truly global footprint that’s unique among commercial-vehicle manufacturers. While Volvo just trimmed its presence in Asia by selling its UD Trucks business in Japan, VW’s Traton SE unit is finishing its takeover of U.S. truckmaker Navistar International Corp. next quarter.Apart from Mercedes trucks, Daimler’s trucks and buses division comprises Fuso in Japan, BharatBenz in India, Setra in Germany and Freightliner, Thomas Built and Western Star in North America.The company has relied heavily on profits from Freightliner in recent years, as North America tends to generate much of the industry’s earnings. Executives said Thursday that boosting profitability at European operations will be a top priority and pledged to reduce personnel and material costs to become more competitive in the region.Asked whether Daimler may consider an acquisition of CNH Industrial NV’s Italian business Iveco, Daum said his focus is on the company’s own operations. “I don’t see the need for us to add an asset to our European business,” he said. “There are no plans for any structural changes.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Bitcoin Regulation, Corporate Tax, PMIs and Iran Oil - What's Moving Markets

U.S. officialdom could well start taking a more proactive stance on cryptocurrencies, on top of global corporate tax levels. Stock indices on Wall Street are set to continue the recent rebound after the weak start to the week, while the crude market frets over the potential of additional Iranian supply. Forget Elon Musk, Bitcoin needs to start worrying about Janet Yellen.

Friday at 2PM EDT: Fireside Chat with AeroFarms CEO to Discuss Merger with Spring Valley Acquisition Corp.

IPO Edge will host a fireside chat with AeroFarms and Spring Valley Acquisition Corp. (NASDAQ: SV) on Friday, May 21 at 2pm EDT to discuss their merger. The live event will feature AeroFarms Co-Founder and CEO David Rosenberg, as well as Spring Valley CEO Chris Sorrells. IPO Edge Editor-in-Chief John Jannarone will moderate the video session, which will […]

Fourth stimulus check wins new fans in Congress, adding to the squeeze on Biden

Over 80 lawmakers are now urging the president to OK more cash for struggling Americans.

Crypto Hedge Funds Buy the Dip in Bitcoin’s Week of Reckoning

(Bloomberg) -- Felix Dian is in fighting spirits after this week’s crypto meltdown.Like many pros, the former Morgan Stanley trader says Bitcoin’s volatility actually shows why hedge funds are in the digital-currency game: To ride boom and bust cycles with diversified bets so clients don’t get killed at times like this.Something is working. His $80 million crypto-focused fund at MVPQ Capital is up 14% in May and has more than tripled in value this year. In contrast, Bitcoin has plunged almost 30% this month, cutting the advance for 2021 to 42%.“We had kept dry powder,” he said in an interview from London. He took advantage of Wednesday’s price collapse and bought Bitcoin when it was trading around $35,000.Crypto-Crash Autopsy Shows Billions Erased in Flash LiquidationsNot everyone’s been so lucky. Scores have seen their fortunes dashed this week in a cascade of selling across crypto markets. Investors spent some $410 billion buying up Bitcoin during this bull market, according to data from Chainalysis. When prices sank to $36,000 this week, $300 billion of those positions were at a loss.It’s left money managers wrestling with whether the digital currency, which is coming under new regulatory scrutiny in the U.S. and China, still has the makings of a serious asset class or will remain nothing more than a speculative bubble.Bitcoin hovered around $40,000 on Friday, trading up 1% as of 7:15 a.m. in New York. The token has lost 35% since hitting an all-time high of $63,000 in April.Charles Erith, who worked for 24 years in Asian emerging markets before jumping to crypto, said the speculative froth was flushed out this week. He bought Bitcoin as prices were plunging.“At $35,000, we felt it’s a reasonable level at which to be adding,” said Erith, who runs ByteTree Asset Management in London. “It’s obviously not regulated and it’s a very young asset, but I don’t think this is going to be a revisit of 2018.”Data from research firm Chainalysis shows professional investors used the crash as an opportunity to start buying at cheap levels, helping put a floor under the market. Big investors bought 34,000 Bitcoin on Tuesday and Wednesday after reducing holdings by as much as 51,000 bitcoin in the last two weeks, according to data from Chainalysis.“People that were borrowing money to invest, they were wiped from the system,” said Kyle Davies, co-founder at Three Arrows Capital in Singapore. His firm bought more Bitcoin and Ether as prices of the tokens tumbled this week.“Every time we see massive liquidation is a chance to buy,” he added. “I wouldn’t be surprised if Bitcoin and Ethereum retrace the entire drop in a week.”Over in Paris, Loan Venkatapen, founder of Blocklabs Capital Management, blames the recent rout on over-leveraged retail investors but says blockchain and the related technologies “are here to stay.”Unlike Davies, Venkatapen avoided Bitcoin, but bought Ether, Solana and other assets connected with the decentralized finance movement as they sold off.“Bitcoin is not dying, but we expect productive blockchain assets such as Ethereum or Solana to challenge Bitcoin dominance in the coming months,” he said.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Archegos Fiasco Spurs Regulators to Demand Banks’ Answers Soon

(Bloomberg) -- Britain’s top banking regulator is pressing ahead with an international push for answers on how banks’ exposure to Archegos Capital Management got so massive, leading to more than $10 billion in losses.The Prudential Regulation Authority has started a probe, asking firms including Credit Suisse Group AG, UBS Group AG and Nomura Holdings Inc. to hand over information related to their lending to Archegos by next month, according to people familiar with the matter.Authorities around the world have said they would scrutinize Archegos’s meltdown and are now making progress on those pledges. The Prudential Regulation Authority is taking the lead on positions that were held by the U.K. entities of foreign banks and coordinating with U.S., Swiss and Japanese watchdogs, said the people, who asked not to be named discussing information that is not public. Most of the leverage Credit Suisse extended to Archegos was booked in London, they added.Before its collapse in March, Bill Hwang’s once-obscure family office built giant stakes in companies without the market knowing because the assets were held on the books of its brokers. The PRA aims to build a fuller picture of its bets by cross-checking data from the banks, the people said. The watchdog aims to conclude its probe by the end of the summer, the people said.U.K. regulators will also scrutinize the standstill agreement that lenders initially proposed, the people said. Bloomberg has reported that banks led by Credit Suisse tried to make a deal with Hwang to untie positions without causing panic in the wider market. The trades became public knowledge anyway, triggering a selloff as brokers liquidated assets worth nearly $30 billion.Spokespeople for the PRA and banks including UBS, Credit Suisse and Nomura declined to comment.Banks and their supervisors are still grappling with the consequences of one of the biggest margin calls in history. Nomura has tightened financing for some hedge fund clients and is reviewing its prime brokerage unit. An internal probe is still ongoing, the people said. Credit Suisse is reducing leverage in its prime brokerage by a third, which will lead to exiting relationships with some hedge fund clients. Losses booked so far include about $2.9 billion at Nomura and $5.5 billion at Credit Suisse.In a speech this week, Jon Hall of the BOE said the central bank was considering closer scrutiny of the work banks carry out for hedge funds, without giving further details. The Swiss parliament is preparing to hold hearings on the blowup, the SonntagsZeitung has reported, while the U.S. Senate Banking Committee is also seeking answers. The Securities and Exchange Commission has previously opened a preliminary investigation into Hwang.Federal Reserve Chairman Jerome Powell said last month the central bank was examining the Archegos blowup because it revealed risk-management failures at a number of banks his agency supervises.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

China vows to crack down on bitcoin mining, trading activities

HONG KONG (Reuters) -China will crack down on bitcoin mining and trading activities as part of efforts to fend off financial risks, the State Council's Financial Stability and Development Committee said on Friday. The country will also clamp down on illegal activities in the securities market, and maintain the stability of stock, bond and forex markets, the committee said in a meeting chaired by Vice Premier Liu He. The statement, which comes just days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, marks a sharp escalation of moves against virtual currencies.

Pound hits $1.42 as economy roars back to life

Shares in the cannabis research firm backed by Snoop Dogg jumped by as much as 50pc on its market debut, as investors lapped up the chance to invest in the emerging industry. Oxford Cannabinoid Technologies, which is developing pain-relief medicines based on cannabis compounds, spiked in early trading on Friday, after shares were admitted to the London Stock Exchange. The company's share price hit 7.50p before later dropping to around 4.875p, just slightly below the listing price. Oxford Cannabinoid Technologies (OCT), whose shareholders also include tobacco giant Imperial Brands, said it had raised £16.5m in a placing - cash which will go towards its efforts to commercialise a cannabis-related drug for use in pain-relief within the next six years. Flutter Entertainment, the Irish bookmaking holding company created by the merger of Paddy Power and Betfair, climbed to £129.30 from the previous close of £126.70. At the opposite end of the index was Kingfisher, which spent the day dragging on the index. The B&Q owner fell to as much as 354.40p and finished the day 4.5pc down from the previous close, after the company reported product shortages are expected to last for six months and investors wondered how businesses that boomed during lockdown could maintain momentum. British Land shares were also lower ahead of their release of full year numbers next week. Analysts expect them to show 82pc of rent had been collection for FY21. The FTSE 100 traded flat for most of the day on Friday, despite new data showing the UK economy is enjoying an 'unprecedented growth spurt' as it emerges from lockdown. Having dipped below the 7,000 mark in the morning, London's main index was down 1.75pc to close at 7,018.05 in a choppy week where the index hit a one week high and a six-day low in the space of only 24 hours. The pound rose to $1.42 at one point on Friday, as the Office for National Statistics said retail sales surged 9.2pc in April - double the rate economists expected. Eventually it closed up 0.02pc versus the US dollar, $1.418 and was up 0.03pc against the euro at €1.162. Bitcoin clawed its way back to $40,000 after this week's cryptocurrency clash sparked by regulation fears in China. The coin managed to hold the $40,000 level for most of London trading until late afternoon China's Vice Premier Liu He reiterated the government's intention to crackdown on Bitcoin mining and trading, sending the currency skidding to $36,756.24, down 8pc just after London closed.

CANADA FX DEBT-Canadian dollar nears 6-year high as inflation concerns ease

* Canadian dollar strengthens 0.2% against the greenback * For the week, the loonie is on track to gain 0.6% * Canadian retail sales rise 3.6% in March * Price of U.S. oil rises 1.9% TORONTO, May 21 (Reuters) - The Canadian dollar rose against its U.S. counterpart on Friday as investor worries about U.S. inflation receded and domestic data showed retail sales climbing in March, with the loonie moving closer to a six-year high notched earlier in the week. Canadian retail sales rose 3.6% in March from February, surpassing estimates for a 2.3% increase, data from Statistics Canada showed. World stock markets edged higher after a volatile week, taking their lead from a stronger Wall Street as U.S. business activity data tempered inflation fears.

Billionaire Founder of China Property Giant Dies of Illness

(Bloomberg) -- The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese property company that pulled off one of the strongest U.S. market debuts of 2020.Zuo Hui, who turned the company known as Beike from a nationwide chain of real estate offices into China’s largest platform for housing transactions and services, died May 20 after an “unexpected worsening of illness,” his company said in a statement without elaborating. KE Holdings’ board will announce follow-up arrangements within two weeks, it added.Zuo, 50, has been the driving force behind the company’s success, headlining the bell-ringing ceremony when it went public and holding 81.1% of voting shares under a dual-class voting structure as of end-February, according to its annual report. The company’s American depositary receipts fell 0.8% to $49.85 in New York on Thursday, paring an earlier decline of almost 10%.Zuo was backed by some of Asia’s most influential startup investors, including Hillhouse Capital Group and Tencent Holdings Ltd., and ranks among SoftBank Group Corp.’s most successful bets. KE Holdings almost doubled on its August U.S. debut, vaulting Zuo into the ranks of the world’s richest entrepreneurs with a fortune in excess of $20 billion at one point, according to the Bloomberg Billionaires’ Index.Its shares were up 151% from their New York debut through Wednesday’s close, conferring on the late chairman a net worth of $14.8 billion.In an interview with CCTV aired in April, he downplayed the significance of the IPO and the riches it bestowed.“Why should I feel excited?” he said, dressed in jeans, a dark blue vest and black sneakers. “This makes no difference to me.”Read more: Founder of China Property Site With No Profits Worth $20 BillionBorn in 1971 in Shaanxi province, Zuo graduated with a bachelor’s degree from Beijing University of Chemical Technology in 1992 before getting into sales and establishing an insurance business, where he made his first fortune, according to local media. He then founded Beijing Lianjia Real Estate Brokerage Co. in 2001, when China’s property market was still relatively young, and started Ziroom in 2011 to offer long-term apartment rentals. In 2018, he incorporated KE and launched Beike, becoming one of the country’s most celebrated entrepreneurs.Beike uses artificial intelligence and big data to improve its service and provide market insights, according to its website. As of June, the company boasted 226 million homes on its platform and 39 million monthly active users on mobiles. That’s swelled to more than 48 million mobile monthly active users and half a million agents.The platform also draws in others by allowing decorators, renovators and financial institutions to connect with buyers, creating an ecosystem of property and related offerings.(Updates with closing share price in third paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Yahoo Finance users love Dogecoin

The year isn't even half over yet, but it's already been a memorable 2021 for market watchers.

SoftBank says Son lieutenant Fisher, Arm CEO to leave board

TOKYO (Reuters) -SoftBank Group Corp on Friday said Chief Executive Masayoshi Son's longtime lieutenant Ron Fisher and the CEO of chip designer Arm, Simon Segars, will step down from the Japanese conglomerate's board. The changes are the latest churn on the board as Son focuses on technology investing through his Vision Fund unit over taking majority stakes in companies. Fisher was an architect of SoftBank's disastrous bet on office space firm WeWork, while Segars' firm is to be sold to U.S. chip firm Nvidia Corp pending regulatory approval.

Major Forces Behind Bitcoin’s Worst Losses Since 2013

The dramatic sell-offs in the past few days in the crypto market was catalysed by a flurry of negative macros, coming from Elon Musk to reports that China was excluding crypto from its financial system, yet recent reports revealed that Crypto exchanges largely contributed to the seismic price swings sighted on Wednesday.


Encourage Independence

By the time kids are 5 or 6, they’re ready to master a simple recipe. These dishes require little or no help from you.

17. Fruit and Cinnamon Snack Mix. The team at General Mills created the perfect road trip snack:򠫝 6 cups of Cinnamon Toast Crunch cereal, 1 cup of yogurt-covered raisins, 1 cup of dried cranberries, 1 cup of banana chips, and 2 cups of pretzel snaps to a large mixing bowl and toss all ingredients together. Separate into small airtight containers for a quick grab-and-go snack.

18. Yogi-Berries.਌hef Keith Williamson, of Datz restaurant, in Tampa, has been making this snack with his daughter since she was 5: Using a toothpick, they dip any kind of berries in plain or vanilla Greek yogurt and place them on a cooking sheet lined with parchment paper. Freeze for an hour, then eat!

19. Homemade Hummus. Kids attending Food Network Stars਌hef Chris Nirschel’s camp in New York City make this: Open a can of chickpeas. Ask your child to drain and rinse them, saving the liquid. Put beans in the blender along with 2 Tbs. olive oil, 1½ Tbs. lemon juice, 1 chopped garlic clove, ½ tsp. cumin, ½ tsp. salt, and 2 Tbs. liquid. She may need help measuring ingredients. Help start the blender and mix until smooth.

20. Sleepover Oats. Monica Auslander, R.D., founder of Essence Nutrition, in Miami, came up with this recipe, a perfect slumber-party activity. Mix 1 cup rolled oats, 1 cup milk (any kind), ½ tsp. cinnamon, 1 Tbs. chia seeds, 2 Tbs. chopped nuts, 1 tsp. vanilla extract, and 2 Tbs. dark-chocolate chips. Divide into three small Mason jars. 

21. Three-Ingredient Pancakes. Kids can make the simple batter and you do the cooking on the griddle, says Kalloo. Ask your child to mash a large, ripe banana and crack and whisk an egg. Then whisk the banana, beaten egg, and ¼ cup shredded carrots in a bowl. You pour the batter in 1½-in. rounds on a griddle greased with coconut oil or unsalted butter. Cook for 2 to 3 minutes, flipping once after 1 to 2 minutes. Your child can spoon on Greek yogurt, drizzle on honey, or both. 

22. Multicourse Mexican. Order the adorable Taco Truck Fun Kit ($20) to get recipes for guac and chips, street tacos, and arroz con pollo plus two kid-size cooking tools. 


Watch the video: Earn the Title of Chef: 7 Professional Skills for the Kitchen (December 2021).