PRESS DIGEST – Financial Times – April 10

INDEPENDENT’S EDITOR RESIGNS

The editor of The Independent has stepped down less than
three weeks after the newspaper was sold to Alexander Lebedev
for the nominal fee of one pound. Roger Alton edited The
Observer for nearly ten years before joining The Independent in
2008. Alton said the newspaper’s “new owners should be free to
appoint an editor of their own choosing”. Editor-in-chief Simon
Kelner will replace him until a new editor is appointed after
the general election.

COCA-COLA RAISES STAKE IN SMOOTHIES GROUP TO 58 PERCENT

Coca-Cola (KO.N: ), the drinks manufacturer, has become the
majority shareholder in healthy drinks maker Innocent Smoothies,
after raising its stake from 18 percent to 58 percent. According
to a source close to the deal, the 40 percent stake was sold for
roughly 65 million pounds. The amount would value the
smoothie-maker at about 160 million pounds. Sales at Innocent
totalled 113 million pounds in 2009, but it made a loss of two
million pounds because of investment in its European businesses.

MICHAEL PAGE SIGNALS UK JOB REVIVAL

According to Michael Page International, the white-collar
recruiter, City job candidates received multiple employment
offers for the first time in two years. The second-largest
hiring agency in Britain said salary packages were increasing by
four to five percent as employers were forced to compete for top
staff. Michael Page said white collar workers were shifting jobs
again, with rising demand for permanent staff in retail,
banking, information technology and human resources.

INSTITUTIONS LUKEWARM ON BOLTON’S NEW CHINA FUND

Fund Manager Anthony Bolton has been unable to confirm full
backing for his new China investment trust. Bolton had been
seeking to raise up to 650 million pounds for a new Fidelity
fund investing in China, but received a lukewarm reception from
some institutional investors. The China Special Situations fund
will launch on the stock market on April 19 with 460 million
pounds.

HAMLEYS BEGINS 34 MILLION DOLLAR EXPANSION INTO INDIA

Hamley’s, the historic toy seller, will take the first step
of an ambitious drive into India on Saturday when it opens a
store in Mumbai. The company’s 22 million pound expansion into
Asia’s third-biggest economy will see 20 outlets open across the
country in seven years. Global chief executive Gudjon Reynisson
said India was a key part of Hamley’s effort to expand into
emerging markets because of its large, young population and the
potential of a previously restricted retail sector.

MOULTON IN READER’S DIGEST DEAL

Better Capital, Jon Moulton’s new turnaround private equity
group, has bought the UK subsidiary of the Reader’s Digest
magazine out of administration. Reader’s Digest UK collapsed
into administration in February after failing to secure
regulator backing to fund its 125 million pound pension deficit.
Moulton’s 13 million pound deal is his second investment since
he floated Better Capital last year.

Stock Research Tools

PRESS DIGEST – Financial Times – April 10