Terra Firma plans to sell Odeon chain
Terra Firma, the private equity fund founded by Guy Hands, is planning to sell assets this year that are likely to include Odeon & UCI group, the European cinema chain, which could raise more than £1bn. The plan is a bid to return cash to backers.
Bankruptcy regime for nations urged
Argentina’s messy legal battle with hedge funds over its 2001 sovereign default has heightened calls to resurrect plans for a bankruptcy regime for countries, under the auspices of the International Monetary Fund. Many senior lawyers, fund managers and former policy makers say recent court rulings against Argentina highlight the weaknesses of the current approach to government debt workouts.
Companies pay heed to salary protest
A survey by Towers Watson of more than 100 companies in the FTSE 350 found the median base salary, or fixed pay, increase, which tends to make up about a third of an executive’s pay, has been about 3 per cent this year. This was similar to last year but much lower than previous years before the 2007 financial crisis.
Gloves give Oliver Sweeney a hand
Oliver Sweeney enjoyed a double-digit jump in sales over Christmas as shoppers stocked up on leather gloves and hip flasks. The cobbler said that total like-for-like sales were up by 10.8 per cent in the five weeks to 30 December.
Don’t make a mess of my Zipcar
Brett Akker, the founder of Streetcar, the car club that forms the basis of Zipcar’s British business, has urged Avis to avoid meddling too deeply with the vehicle-sharing venture.
The Daily Telegraph
Investors spooked by UK Energy Bill
Investment may not flow into the UK energy sector for years because uncertainty remains over new policies, a renewable energy investor has warned. Ian Simm, chief executive of Impax Asset Management, said it would like to invest in wind farms - but the policy framework was currently too complex.
Top schools flooded with applications
Up to 18 children are competing for each place at the most popular state schools amid a scramble for a “Rolls Royce” education.
THE WALL STREET JOURNAL
Hostess looks to sell off bread brands
Flowers Foods and Grupo Bimbo are in discussions to acquire pieces of Hostess Brands’ bread business, as the maker of Wonder Bread and Twinkies sells off assets and liquidates, said people familiar with the talks.
Venezuela presses hunt for Missoni
The search for a missing plane carrying Italian fashion executive Vittorio Missoni and five other people has found no signs of the aircraft.