Worldwide briefing
IRS tips the balance
The US Supreme Court has ruled that the Inland Revenue Service has the right to charge restaurants additional social security taxes if it thinks employees are under-reporting their tips. The National Restaurant Association said that the move could have grave ramifications for the USA's 200,000 restaurants. Its senior vice-president of operations said: "Frankly, this decision could mean the difference between a restaurant staying in business or closing its doors."
Sinking in the Med
French leisure group Club Mediterranée reported a net loss of €25m (£16.1m) for the six months to 31 March, compared with a net profit of €6m (£3.9m) for the same period in 2001. Turnover fell by 15% to €816m (£525.6m) against €958m (£617m) a year earlier.
Marriott sell-offs
US-based hotel company Marriott International has sold two hotels to Orlando-based property group CHL Hospitality for about $143m (£92m). But Marriott will continue to manage the 347-bedroom Bridgewater Marriott hotel in New Jersey and the 405-bedroom San Francisco Courtyard hotel.
Over the next cloud
German airline Lufthansa's catering business, Sky Chefs, will post an operating profit in 2003 and net profit in 2004, chief executive Jrgen Weber told shareholders at the group's annual general meeting. Weber said that, because of 11 September, the group had made a special write-down on Sky Chefs of €495m (£319m).