Not content with spending €15 million hiring BNP Paribas to advise on the creation and sale of Novo Banco, the Bank of Portugal also has contracted to spend up to €800,000 for independent advice and assessment from TC Capital in London.

Both financial companies have been hired by direct private contract without the Bank of Portugal asking for competitive quotes and without any supervision as to the suitability of the appointees.

The French parliament has approved legislation to ban supermarkets from destroying unsold food and forcing them instead to give it to charity.

Unsold but edible food will be devoted to charity or for use as animal feed or compost.

Voices in the tourism sector are urging the Brazilian authorities to take action after a 57-year-old visitor was stabbed while cycling around a scenic lake just behind Ipanema beach.

Lagoa Rodrigo de Freitas will be the site of the Olympic rowing and canoeing events next year.

The economy minister, António Pires de Lima, expects that a decision will be made by the Council of Ministers to select the buyer for TAP during the first half of June.

Deciding then that ‘loose talk costs lives’, the minister added "This process is now entering a delicate stage and I should be sparing in my comments because any statement can be interpreted and used against the national interest by either of the two competitors."

A large majority of creditors have agreed to the terms of a Special Revitalisation Plan for Tivoli Hotels & Resorts.

In a statement, the company says it now awaits "the procedural steps for the plan's approval."

Filipe Silva, the policeman who violently attacked two men after a football match in Guimarães last Sunday, has put himself at risk of an eight year jail sentence.

Silva has not apologised to José Magalhães (pictured) or his father, both of whom were attacked by the PSP commandante in front of José's 9 and 13 year-old children outside the Guimarães stadium.

For the Algarve, a better use of the tourism sector, effective exploitation of natural resources and a regional administration with greater decision-making power are three of the suggestions published by the Order of Economists in its new 'Guidelines for a Regional Economic Model.'

The study revealing the patently obvious was presented at a regional meeting of the Order of Economists in Faro and analysed the potential of the Algarve's economy against the state is currently is in.

Selling agricultural products or local crafts without a license will leave the vendor open to fines of between €500 and €25,000.

The rules and regulations for markets were published today by the government and contain a clause that allows fines to be issued by the local council, rather than as a result of any judicial process.