Jon Asgeir Johannesson, the former boss of now-bankrupt Baugur Group is preparing to open a three-store chain of low cost supermarkets in London. Read the full story

Updated 02.03.2010: Two bankrupt companies connected to former business tycoons Jon Asgeir Johannesson, Palmi Haraldsson and Hannes Smarason have almost no assets at all, but owe over ISK 100 billion (USD 780 million). Read the full story

The Williams Formula 1 motor racing team has a roughly ISK 2 billion (USD 15.7 million) claim in the estate of Iceland’s bankrupt Glitnir Bank connected to Jon Asgeir Johannesson’s attempts to buy himself into the team in previous years. Read the full story

(Editorial comment from IceNews) In one of those all-too-rare blissful moments of unthinking peace, I took to scanning the bookshelves here at IceNews Towers for a few moments this morning. My fingers nimbly sought out the book which presumably felt the most interesting. A souvenir photo book from Baugur Day 2006. IceNews did not go, so I have no idea how we ended up with the souvenir. Read the full story

Icelandic millionaires Jon Asgeir Johannesson and Ingibjorg Palmadottir have put their luxury Manhattan apartment on the market for USD 25 million (ISK 2.9 billion), according to the New York Times. Read the full story

Florida-based Icelandic businessman Jon Gerald Sullenberger runs a company which exports American goods to Iceland; but he is probably best-known as the former friend and business partner of Jon Asgeir Johannesson (Baugur Group) who was star witness in the drawn out court cases against the Baugur boss following the pair’s falling out. Click here to read an older story about Sullenberger. Read the full story

Helgi Magnus Gunnarsson, acting state prosecutor and Runar Gudjonsson, Sheriff of Reykjavik, have issued charges against Jon Asgeir Johannesson, Baugur Group and associated parties. The charges relate to alleged tax irregularities. Read the full story

In an interview on Squawk Box on the US television network CNBC, Jon Asgeir Johannesson, Executive Chairman of Baugur Group, spoke of “interesting times” in the global market, according to Frettabladid.

The programme introduced Johannesson as “the most powerful man in British retail”, a title earned due to the impressive empire his Icelandic company has amassed on the British high street. Baugur Group counts House of Fraser, Goldsmiths, Iceland supermarkets and Hamleys among its many outlets.

During the interview Johannesson said that Baugur sees interesting times ahead and that the company is always on the lookout for good buys in Europe and North America.

But the tycoon expects the biggest growth to come from India and China, where he says, “growth is so fast that a company can lose its competitive edge if growth is below 30%.”

When asked about the high profile court cases against him and others in the company, Johannesson maintained his claim the whole scenario was politically motivated, and stated that it seems highly unlikely any new charges will be brought.