So have staff costs, a problem compounded by the fact that the company has yet to drive sufficient extra sales from the converted stores to pay for extra bodies on the shop floor. Meanwhile, trading at the core Morrisons estate is deteriorating.Many long-standing executives are keen to avoid a situation where Sir Ken and Mr Jones, who as sole non-executive is seen as representing shareholder interests, can no longer work together, and insiders say the two are still talking.Supporters of Mr Jones believe that Sir Ken's stalling over the appointment of non-executives is a tactic to delay debate over his own position. The first is Nigel Robertson, the founder of the Ocado grocery home delivery business and more recently part of a consortium that bought the Early Learning Centre. And the dispute between the two men is believed to have widened into a row over the timing of 73-year-old Sir Ken's departure from the company he has run for almost five decades.At this morning's meeting the pair will try to tackle the impasse but investors fear an ugly showdown.Shareholders have been demanding the appointment of additional board members as a counterweight to Sir Ken, whose stock in the City has plummeted after five profit warnings since the takeover of Safeway last year.But Sir Ken is arguing that the obsession with corporate governance is standing in the way of bringing Morrisons back to financial health, and that Mr Jones has yet to suggest a candidate which the City will see as a proper heavy hitter.Only two of the four names on Mr Jones' shortlist have become public.

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Sir Ken Morrison, the chairman of Wm Morrison, is set to hold crucial talks with his deputy this morning in an escalating dispute over the appointment of new non-executive directors. Mr Hoult said: "Icelandic entrepreneurs have been grabbing the headlines for their daring investments in UK business - it's very exciting to have them on board."Magnus Loftsson, Hvita Husid's chief executive, said: "Loewy has heritage as a world-class outfit.

That's a lot of fish."Loewy's aim is revenues of over £10m by the end of the year and a headcount of some 100 people, but Mr Hoult said he hoped to "blow that [target] out of the water" It is also looking at a London listing, possibly next year. But then I went to Iceland and saw the high-level economy and the fact that there are 300,000 people in a country the size of Ireland, who catch £4bn of fish every year. We recognised that the brand has international strength and the current management team has depth.". Among Hvita Husid's existing Icelandic clients are Baugur, which bought Big Food Group in the UK, and Kaupthing, acquirer of investment bank Singer & Friedlander.For Hvita Husid, the deal will initially allow it to "build a UK base in support of Icelandic entrepreneurs' international growth plans". A full-time Icelandic team has been installed at Loewy's London headquarters and it said that it has already won new Icelandic business as a result.Mr Johnson provided venture capital backing in 2004 to Loewy, which enabled chief executive Charlie Hoult to build the business by acquisition - it made three purchases in 2004 and several merger targets are currently in final negotiations The new money will be used for these Mr Hoult said: "This [deal] was pretty 'left field' for us. The idea is "to join forces for ambitious expansion into Europe".

But, he said after his trip: "I have a lot more confidence after what I have seen." Mr Wolfowitz also backed Mr Blair's demand that aid must be tied to reform.. Watch out Sir Martin Sorrell. Having already raided UK retail, airline and financial services companies, Icelandic investors have now made a move into the world of advertising By Saeed Shah Watch out Sir Martin Sorrell. Speaking on his return from his first trip to southern Africa, Mr Wolfowitz said: "I would love to see a massive increase in aid."He had said that throwing money at problems such as Africa's had not worked. As the lowlands dry up, farmers will be forced to move into higher areas that are now covered with forests. The ensuing deforestation will lead to soil erosion and the destruction of some of the region's most important river channels.Men such as Jack Karanga - who wakes up and looks at the sky each morning to figure out of the weather will be kind to him that day - will soon learn the hard way just what global warming means.Meera Selva in Limuru, Kenya. The controversial president of the World Bank, Paul Wolfowitz, who led the Pentagon's charge for war in Iraq, surprised critics last night by giving his backing to Tony Blair's plan for an increase in aid for Africa.