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.

EMI recorded music moves into the black

EMI's Recorded Music division saw earnings of £59.2m in the three months to June, compared with losses of £45.1m last year, according to an email from Guy Hands, the group's controversial chief executive, to staff yesterday. Revenue was £288.1m, up 61 per cent.

Guy Hands sues Baker Tilly over film losses

The private equity tycoon Guy Hands has had his hands full trying to make money from the music industry since buying EMI last year, and now it seems he has taken a hit from investing in the film industry as well.

UBS sues client

UBS has launched legal action against its own clients, a joint venture of Terra Firma and Deutsche Bank, after they refused to allow the Swiss investment bank to sell debt relating to a buyout to their rivals.

EMI poaches head of Island Records Nick Gatfield from Universal Music

EMI has poached Nick Gatfield from rival Universal Music to run the group's Artists and Repertoire (A&R) operations across the US and the UK.

Rolling Stones may leave troubled EMI

The Rolling Stones could become the latest big-name group to quit the troubled record label EMI, following the example of Sir Paul McCartney and Radiohead.

Hands raises £250m to fund EMI overhaul

Guy Hands has raised £250m in new equity to fund his planned shake-up of EMI and publicly moved to allay fears that the takeover of the struggling music company by his investment vehicle Terra Firma had run into trouble due to the credit crunch.

Threshers throws in towel at its food-and-wine stores

A much-hyped move into fresh food by off-licence chain Threshers has been ditched after less than a year.

Architecture: Out with the old, in with the new

London's skyline has already undergone dramatic change. But two developments are accelerating the transformation from historic capital to modern metropolis. Jay Merrick reports

Shanks is new target for Terra Firma after Pennon rejection

Guy Hands, the City financier, has approached Shanks, the waste management group, having been rebuffed in his attempt to buy its larger rival, Pennon.

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