United Kingdom

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U.K.'s Cameron Draws Fire Over Europe Plan

European leaders criticized U.K. Prime Minister David Cameron's promise to renegotiate his country's relationship with the European Union and let the British people vote on the outcome, creating potential hurdles to his plan, The Wall Street ...

Daily Headline - global.abi.org - 01/24/2013 - 01:03 - 0 comments

U.K. Rethinks Ties to Europe

Prime Minister David Cameron plans to let the British people vote on whether or not to stay in the European Union, a surprise move critics say will inhibit trade and cast a new shadow over the troubled bloc, The Wall Street Journal reported. Mr. Came ...

Daily Headline - global.abi.org - 01/22/2013 - 22:38 - 0 comments

Hilco UK Buys Debt Of HMV To Gain Control

Hilco UK, the retail restructuring group, has acquired the bank debt of HMV, effectively giving it control and paving the way for a rescue of the entertainment retailer that fell into administration last week, the Financial Times reported. People fam ...

Daily Headline - global.abi.org - 01/22/2013 - 22:40 - 0 comments

More Retailers To Default, Study Predicts

More companies are expected to default on their debt this year, with UK retailers deemed the most vulnerable, according to new research, the Financial Times reported. A survey of the restructuring industry – published just days after HMV and Blockbus ...

Daily Headline - global.abi.org - 01/21/2013 - 22:25 - 0 comments

Hilco Frontrunner For HMV, Music And Film Industry Keen

Restructuring specialist Hilco is the frontrunner in the battle to save music retailer HMV from administration, British media reported on Sunday. Hilco, which bought HMV Canada in 2011 and salvaged home goods firm Habitat, is favoured by an industry cons ...

Daily Headline - global.abi.org - 01/21/2013 - 22:28 - 0 comments

Britain Has More Debt Than The Eurozone, Says Germany's Wolfgang Schaeuble

Germany's finance minister Wolfgang Schaeuble has said that the problem of high indebtedness is not limited to the crisis-hit eurozone and that the situation in Britain and the US is worse, The Telegraph reported. Speaking in Parliament, Mr Scha ...

Daily Headline - global.abi.org - 01/17/2013 - 22:38 - 0 comments

Game Owner Eyes Tranche Of HMV Stores

Game, the retailer bought out of administration by investment firm OpCapita, is interested in acquiring up to 45 HMV stores, the Financial Times reported. Martyn Gibbs, chief executive of Game, said the chain’s management had approached Deloitte, adm ...

Daily Headline - global.abi.org - 01/17/2013 - 22:38 - 0 comments

Blockbuster U.K. Faces Closure

The U.K. arm of DVD rental firm Blockbuster BLIAQ +16.67% Wednesday called in administrators to sell or wind down the company after U.S. parent Dish Network Corp. failed to find a buyer, The Wall Street Journal reported. The move marks the third fail ...

Daily Headline - global.abi.org - 01/16/2013 - 22:08 - 0 comments

HMV Confirms Going Into Administration

British music and DVDs retailer HMV confirmed on Monday that it was calling in the administrators as talks over a deal to prevent an imminent covenant breach failed, Reuters reported. "The board regrets to announce that it has been unable to reach a ...

Daily Headline - global.abi.org - 01/14/2013 - 20:57 - 0 comments

Goldman Eyes Tax Delay On UK Bonuses

Goldman Sachs is among a handful of banks considering delaying UK bonus payouts until after April 6 when the top rate of income tax falls from 50 to 45 per cent, the Financial Times reported. The bank’s plan, which relates to bonuses paid for perform ...

Daily Headline - global.abi.org - 01/13/2013 - 23:36 - 0 comments

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