More examples that the lawyers are have having a ball in the credit crunch: Linklaters, one of the so-called “magic circle” of UK law firms, narrowly avoided overtaking rival, Clifford Chance, when it announced record turnover for the last financial year – with revenue up an impressive 15%. The boss, Simon Davis, put the increase down to expansion into new countries where they sell in specialist and complex multi-national advice. Not that Linklaters’ were alone. For the first time all four of the City’s top four firms all have earned fee income in excess of £1 billion. Clifford Chance remains the biggest, then Linklaters, then Freshfields Bruckhaus Deringer followed by Allen & Overy. What’s interesting is the 5th firm on the list, Lovells, reported revenue of £479m – impressive, but over half of what Allen & Overy made. So the gap between the big four and the medium or smaller law firms is widening. What you’ve got to ask is whether that threatens your security or narrows your prospects if you choose to work for a smaller firm..?

Cold coffee in the USA where Starbucks plans to shut 500 stores on top of the 100 closures it had already announced. Up to 12,000 full and part-time jobs will go (7% of the company’s global workforce), although Starbucks will try to move staff into other stores. Weirdly, the company is still opening new US outlets, although it is cutting back from 250 to 200 next year. It’s the underperforming stores that are closing: for example, the firm opened many in Florida where the housing slump has hit people the hardest so, suddenly, paying $5 for a grande-mocha-vappidchino doesn’t seem essential. Why is this of interest? Well, what happens in the USA usually happens over here six months later. Also, it will be interesting to see how The Bucks, one of the first touchy-feely modern brands, handles giving 12,000 people the elbow…

How does $2m for a Buffett lunch sound to you? This isn’t vol au vents, coronation chicken and dysentery we’re talking about, but the world’s richest man, American money wizard Warren Buffett. An eBay auction to have lunch with WB at a New York steakhouse went to a Chinese businessman for $2.1m. The profits from the lunch will go to a non-profit foundation which fights poverty and homelessness. Buffett is known as the Sage of Omaha for his shrewd business acumen and ability to spot winning investment opportunities, so the Chinaman might be onto some good advice for his money. On the occasion of his (immanent) death, WB has agreed to leave the bulk of his fortune (£15bn) to the charitable foundation set up by Microsoft founder Bill Gates and his wife Melinda.