Global equity raising rose by almost a fifth in 2017 and bankers expect issuance to increase further in 2018 as the improving global economy and buoyant stock markets drive larger flotations and rights issues to finance acquisitions, Reuters reported. Companies raised $780.2 billion in equity in 2017, up 19 percent from $656.4 billion last year, Thomson Reuters Equity Capital Markets data up to Dec. 26 showed. Global proceeds from initial public share offerings (IPOs) rose by 35 percent to $178.6 billion in 2017.

Creditors of Toys ‘R’ Us UK overwhelmingly approved the struggling retailer’s restructuring plan at a meeting yesterday, enabling it to stave off a collapse into administration, Reuters reported. Earlier this month the British arm of Toys ‘R’ Us Inc of the United States, which filed for bankruptcy protection in September, said it would seek creditor approval for a Company Voluntary Arrangement (CVA). The plan will see the closure of at least 26 of its 105 British stores in 2018 and reduced rent on the stores that stay open.

Toys “R” Us Inc.’s U.K. unit, which is at risk of collapse, faces questions from lawmakers about a reported surge in payments to its former managing director, Bloomberg News reported. The loss-making British arm of the U.S. toy retailer boosted Roger McLaughlan’s pay to 1.3 million pounds ($1.7 million) in the year ended Jan. 30, 2016, from 1 million pounds and 356,000 pounds in the previous two years, Frank Field, the chairman of the House of Commons’ Works and Pensions Committee, said in a Dec. 18 letter to Toys “R” Us U.K.’s current head, Stephen Knights.

Toys “R” Us Inc.’s plans to restructure its U.K. operations face defeat in a creditor vote, jeopardizing the local business’s chances of avoiding insolvency, Bloomberg News reported. Pension Protection Fund, which is acting for the U.K. arm’s pension plan, understands that creditors will reject the court-led restructuring proposal at a Dec. 21 meeting, Chief Executive Alan Rubenstein said in a letter to Frank Field, the chairman of the House of Commons’ Work and Pensions Committee. Pension Protection has filed a proxy vote against the planned Company Voluntary Arrangement.

The City of London likes nothing better than a dust-up between two alpha male financiers over large sums of money. Hence the excitement that surrounds the ugly stand-off between Guy Hands and Spencer Haber, whose US hedge fund is a big investor in one of the British private equity veteran’s most troubled punts. Last week, after months of macho posturing about the ownership of some disputed assets, Mr Hands finally backed away from a showdown with Mr Haber’s H/2 fund over the future of Four Seasons, one of Britain’s largest nursing home groups.

The private equity owner of Four Seasons Health Care has urged the care home operator’s largest creditor to accept a debt restructuring offer it made nearly a month ago as a looming interest payment threatens to push the business into administration, the Financial Times reported. Terra Firma, led by City financier Guy Hands, called on H/2 Capital Partners to accept its offer to hand over to the lender and the other bondholders, the 343 care homes owned by the Four Seasons group “for a nominal sum, with immediate effect”, as it did at the start of November.

British wholesaler and convenience retailer Nisa Retail said on Monday it would provide a new short-term contract to its member McColl’s Retail Group to help it ensure continuity of supplies after the collapse of Palmer & Harvey (P&H), Reuters reported. P&H, the UK’s largest tobacco distributor which also delivers food and drink to supermarkets, went into administration last week after running out of cash, raising the possibility of tobacco shortages across the country. Analysts said McColl’s was relatively well-placed to deal with the situation but could face additional costs.

Budget airline Wizz Air said it would fly two more aircraft from London’s Luton airport after securing take-off and landing slots there from failed carrier Monarch Airlines, Reuters reported. Wizz, listed in London but with the majority of its operations focused on Europe, said it would increase its fleet at Luton by two aircraft to total seven and pushing up its capacity at the airport by 18 percent. Earlier this week, British Airways owner IAG bought valuable take-off and landing slots at London’s Gatwick airport, beating off competition from other airlines.

Britain’s major supermarkets sought to reassure smokers on Wednesday that the collapse of Palmer & Harvey (P&H), the UK’s biggest tobacco distributor, would not lead to shortages of cigarettes, Reuters reported. P&H, which also delivers food and drink to supermarkets and convenience stores, went into administration on Tuesday after running out of cash, raising the possibility of tobacco shortages across the UK. However, Tesco and Sainsbury‘s, both said they had set in train contingency plans to ensure their stores were stocked with sufficient tobacco products.

British retail supplier Palmer & Harvey McLane Ltd has been placed in administration after running out of cash, with the immediate loss of some 2,500 jobs, accounting firm PwC said, Reuters reported. The group, which delivers cigarettes, food and drinks to retail chains and convenience stores, has been hit by challenging trading conditions in recent months and efforts to restructure it have been unsuccessful, PwC said on Tuesday.