News

Companies planning to list on the London Stock Exchange were handed a reality check yesterday as investors turned their backs on three of the newest entrants to the market.

Hands' nemesis takes the stand in EMI trial

The banker accused of betraying private equity kingpin Guy Hands over the purchase of EMI took to the stand to defend his integrity last night, saying he had always been as truthful and honest as he could.

Seen at last – the shadowy figure at the heart of £7bn EMI feud

Elusive Citigroup financier David Wormsley appears in court

On the record: ‘friends’ who fell out in £4bn EMI feud meet again in court

EMI boss and Citigroup financier in Manhattan court over £4bn deal that went sour

Terra Firma to get trial over EMI deal

Guy Hands' Terra Firma can proceed to trial against Citigroup in their dispute over Terra's 2007 acquisition of the music group EMI, a US federal judge ruled late on Tuesday night.

The business on...Guy Hands, Founder, Terra Firma

Hello, Goodbye

Hello Guy Hands, the private equity investor, who founded Terra Firma in 2002 after a stellar career at Goldman Sachs and Nomura, where he made his fortune. And goodbye EMI, Terra Firma's most troublesome investment – if the private equity company doesn't come up with £105m by Monday, it will lose control of the music company, best known as the home of the Beatles.

Change of tune at EMI

Guy Hands' Terra Firma has endured a torrid time since its acquisition of EMI. Now it is changing its management. Nick Clark reports

Business Diary: 11/02/2010

Hands keeps quiet at Super Return

It seems a long time since the private equity industry's finest were flocking to the industry's annual jamboree, the Super Return conference.

Out-of-tune EMI posts £1.03bn losses

EMI, the music group owned by private equity firm Terra Firma, was hit by an operating loss of £1.03bn last year and today admitted it was in danger of breaching its banking covenants.

Watch this face! Movers and shakers for 2010

Will the world pull out of its turmoil? Or plunge into a double-dip recession? We pick 10 people who, this year, might just be able to influence our future.

Shanks put up for sale after Carlyle offers £536m

Shanks yesterday told potential suitors that an offer of 150p a share would be enough to buy the waste management group. The move came after the US private equity firm Carlyle approached shareholders with a bid valuing the company at £536m, the equivalent of only 135p a share.

Novera rejects new £109m bid from Guy Hands

The board of Novera Energy, an Aim-listed renewable energy group, rejected a second approach for the company run by private equity giant Guy Hands yesterday.

Hands buys into US green boom with $350m EverPower wind deal

The private equity tycoon Guy Hands has bought the US green energy group EverPower Wind Holdings in a deal understood to be worth $350m (£216m).

Hands resigns from top job at Terra Firma

The end of an era beckoned at the London-based buyout firm Terra Firma yesterday when the owner of the music company EMI announced that its founder and head, Guy Hands, will step down from the post of chief executive. Mr Hands, 49, will retain the roles of chief investment officer and the chairmanship of the company.

Credit crisis diary: Leaving the White House in the red

President George Bush is on course for a notable – or should that be notorious? – achievement. Barring a dramatic stock market recovery over the next couple of months, he is set to become the first two-term US president since Woodrow Wilson almost 90 years ago to leave office with the Dow Jones index standing at a lower level than when he was sworn in – 11 per cent lower than in January 2001.

Mick Jagger: Sympathy for the old devil

The grand old dinosaur of rock becomes eligible for his bus-pass today. Unlike many of his contemporaries, he remains as hard-headed and driven as ever. John Walsh marvels at a national treasure
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War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn
Yvette Cooper: We can't lose the election. There's too much on the line

Yvette Cooper: We can't lose the election. There's too much on the line

The shadow Home Secretary on fighting radical Islam, protecting children, and why anyone in Labour who's thinking beyond May must 'sort themselves out'
A bad week for the Greens: Leader Natalie Bennett's 'car crash' radio interview is followed by Brighton council's failure to set a budget due to infighting

It's not easy being Green

After a bad week in which its leader had a public meltdown and its only city council couldn't agree on a budget vote, what next for the alternative party? It's over to Caroline Lucas to find out
Gorillas nearly missed: BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter

Gorillas nearly missed

BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter
Downton Abbey effect sees impoverished Italian nobles inspired to open their doors to paying guests for up to €650 a night

The Downton Abbey effect

Impoverished Italian nobles are opening their doors to paying guests, inspired by the TV drama
China's wild panda numbers have increased by 17% since 2003, new census reveals

China's wild panda numbers on the up

New census reveals 17% since 2003
Barbara Woodward: Britain's first female ambassador to China intends to forge strong links with the growing economic superpower

Our woman in Beijing builds a new relationship

Britain's first female ambassador to China intends to forge strong links with growing economic power
Courage is rare. True humility is even rarer. But the only British soldier to be awarded the Victoria Cross in Afghanistan has both

Courage is rare. True humility is even rarer

Beware of imitations, but the words of the soldier awarded the Victoria Cross were the real thing, says DJ Taylor
Alexander McQueen: The catwalk was a stage for the designer's astonishing and troubling vision

Alexander McQueen's astonishing vision

Ahead of a major retrospective, Alexander Fury talks to the collaborators who helped create the late designer's notorious spectacle
New BBC series savours half a century of food in Britain, from Vesta curries to nouvelle cuisine

Dinner through the decades

A new BBC series challenged Brandon Robshaw and his family to eat their way from the 1950s to the 1990s
Philippa Perry interview: The psychotherapist on McDonald's, fancy specs and meeting Grayson Perry on an evening course

Philippa Perry interview

The psychotherapist on McDonald's, fancy specs and meeting Grayson Perry on an evening course
Bill Granger recipes: Our chef recreates the exoticism of the Indonesian stir-fry

Bill Granger's Indonesian stir-fry recipes

Our chef was inspired by the south-east Asian cuisine he encountered as a teenager
Chelsea vs Tottenham: Harry Kane was at Wembley to see Spurs beat the Blues and win the Capital One Cup - now he's their great hope

Harry Kane interview

The striker was at Wembley to see Spurs beat the Blues and win the Capital One Cup - now he's their great hope
The Last Word: For the good of the game: why on earth don’t we leave Fifa?

Michael Calvin's Last Word

For the good of the game: why on earth don’t we leave Fifa?
HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?