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BURGER

French chef wows US with latest invention

A renowned French pastry chef, who has made a name for himself across the Atlantic, has wowed Americans again with his new creation that combines cookies and milk.

French chef wows US with latest invention
Will a French pastry chef's Milk Cookie Shot take over New York? Photo: Dominique Ansel

French patisserie chef Dominique Ansel had hit fame in the US last year when he created the “cronut” –  a cross between a croissant and a donut.

Now he’s done it again, this time creating the "Milk and Cookie Shot".

It combines cookies moulded into the shape of a shot glass, which are then filled up with a shot of milk. 

Ansel said cookies and milk are “not a natural combination in French culture”. He said he first came up with the idea when he ate his first Oreo biscuit. His team let him know it had to be eaten with milk, and having not known of this tradition in France, it amused him.

Ansel, described in one French media report “as one of the few French chefs who matter in the United States”, presented his new creation to the SXSW technology expo in Austin Texas. They will soon be on sale at his store in New York.

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BANKING

US hits French banking giant BNP with $246 million fine

US regulators have fined French banking giant BNP Paribas $246 million for the bad behaviour of its traders.

US hits French banking giant BNP with $246 million fine
Photo: AFP

US regulators on Monday fined French banking giant BNP Paribas $246 million for poor oversight of its foreign exchange traders who manipulated trading prices.

The move came six months after the Federal Reserve permanently barred former BNP trader Jason Katz from the banking industry, for manipulating foreign exchange prices.

“The firm failed to detect and address that its traders used electronic chatrooms to communicate with competitors about their trading positions,” the Fed said in a statement.

“The Board's order requires BNP Paribas to improve its senior management oversight and controls relating to the firm's FX trading,” the statement said.

BNP said the misconduct occurred between 2007 and 2013 the company has taken steps to strengthen oversight.

“BNP Paribas deeply regrets the past misconduct which was a clear breach of the high standards on which the Group operates,” the company said in a statement.

The Fed also blocked BNP from ever re-hiring any of the former employees involved the incidents, the central bank said.

New York State's Department of Financial Services in May fined BNP $350 million for the same case, accusing traders of “collusive activity” to manipulate currency prices.

The fine also follows the Fed decision in April to fine Germany's Deutsche Bank more than $150 million for similar “unsafe and unsound” foreign exchange trading practices.