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More recently, Hong Kong and Singapore have been winning work away from London. As the region’s tiger economies start to slide the Far East is expected to become a lucrative source of arbitrations.As London’s cases declined, arbitrators began voicing dismay that London could not capitalise on its market advantages. While Geneva and Stockholm have a reputation for neutrality, they can’t compete with the City’s legal system. So, to stem this steady flow of arbitration from London, the government introduced the Arbitration Act of 1996.Says Christopher Newmark, an arbitration partner at international law firm Baker & McKenzie: “London is still viewed very highly and what has maintained London as an arbitration centre is the quality of the lawyers and the arbitrators, as well as the supporting legal system.”But the English courts were overly intrusive and were getting involved too often, rather than leaving it to the arbitrators and the parties to get on with it.”Mr Prevett argues that London arbitrations had become a “mirror image” of High Court actions, where the burden of discovery made arbitration just as cumbersome and costly as litigation. Palma stops well short of its mainland rivals in terms of staying up all night, and a civilised nightcap may have to suffice. The most outrageous venue is Viridiana, five miles north of the city (a pounds 5 cab ride away) – an extravagantly converted ranch, illuminated by a thousand candles, where you sprawl in armchairs while sipping cocktails and wondering at your good fortune at being here..

For more of a feast, head a short way north to the Restaurant Celler Sa Premsa, a barn of a place which serves Mallorquin specialities in industrial quantities. If you eat any time before 10pm, you will look like a tourist – but who cares? The restaurant is not open on Sundays.Night movesIn Barcelona and Madrid, a Friday or Saturday evening doesn’t really count unless you don’t even get going until after midnight. There are several other possibilities just a few steps away, on the same street.If you want to splurge on accommodation and cut back elsewhere, then the beautiful Hotel Born (Carrer de Sant Jaume 3, tel: 00 34 71 71 29 42) offers a splendidly atmospheric setting for pounds 32 single/ pounds 51 double.Must see …Must buyNothing, or everything. The strength of the pound means that almost anything you could want is cheaper in Palma than in Petticoat Lane, so browse through the tangle of city streets picking up bargains as you go. But if you neglect to pick up any presents, don’t worry – three bottles of cava (sparkling wine) from the airport duty free will just about squeeze into your bag and your customs allowance.Must eatYou could eat in a different place in Calle Apuntadores every day for a month.

The rates are pounds 10 single or pounds 16 double, the ambience is cheerful and the roof garden provides an uninterrupted vision of the city’s greatest possession – the cathedral. But the branch at Palma’s new airport terminal will provide you with all the maps and background you need. The staff will also point you in the right direction (upwards, to departure level) for bus number 17 into town, costing the equivalent of 80 pence compared with a minimum pounds 10 for the cab ride.Rest assuredMy personal favourite is the Hostal Ritzi, a tall, thin residence squeezed into Carrer Apuntadores – the city’s main dining thoroughfare – at No 6 (00 34 71 71 46 10). Down payment
A year ago, only one scheduled airline flew between the UK and Mallorca; by next month, there will be four.

Fares are falling as a result, with EasyJet (0990 292929) offering a price from Luton of pounds 118 return (including tax) for Friday’s 11.40am departure, returning on Sunday afternoon.If you take advantage of the special EasyJet/Thameslink rail offer to the airport and back, you can do the Charing Cross-Luton trip for less than pounds 10, leaving you with almost half your cash for Spain’s most underrated provincial capital. That will be plenty, given the present strength of sterling.Instant briefingFor advance planners, the Spanish Tourist Office is at 22-23 Manchester Square, London W1M 5AP (0171-486 8077; brochure-line 0891 669920). Charing Cross, Friday. You have pounds 250 to spend on a weekend break from the centre of London. Simon Calder prescribes how to spend your time and money in Palma de Mallorca, for some winter sunshine in advance of the crowds. Joanie was recommended by a friend and is an amazing woman; the children adored her and we still see her.”As with any childcare arrangement, it is important to find the right person. The local social services will have a list of registered childminders in your area.

Helen admits that there are some pretty awful childminders around – “they just sit the children in front of the telly all day long and do nothing” – so it is important to ask a lot of questions.The National Childminding Association, 8 Masons Hill, Bromley, BR2 9EY (0181-464 6164) has a booklet, “Choosing a childminder”, and explains how to negotiate a contract. Rates are pounds 50 to pounds 120 a week for full-time care.Questions to ask aprospective childminderWhat childcare experience does she have, and with what ages?How many other children does she look after, and of what ages?What does she do with the children each day? Where does she take them?What are her circumstances: who will be coming in and out of the house?Is she registered?Does she have referees? Check this, and talk to them yourself.. Julia began working from home when her first baby was five months old. “A childminder was cheaper than a nanny, and I liked the stability.