HMV Canada has been sold to British retail restructuring specialist Hilco UK for £2.05 million as part of HMV Group’s plans to reduce debt and secure its main business in the UK.

Hilco UK will also provide HMV Canada with up to C$25 million in working capital to fund the Canadian management team's plans for the continued evolution of the business.

A Chinese company has placed an order to purchase 582 Saab vehicles with a total value of €13 million from Saab Automobile, offering the company a short reprieve from its financial difficulties.

The order will allow the beleaguered car maker to pay its employees’ wages and make partial supplier payments.

Meanwhile, Swedish Automobile and Saab Automobile are continuing discussions with several parties in the hope of securing additional short-term funding to restart production.

The UK government has earmarked eight sites across the country as suitable locations for new nuclear power stations.

The announcement came as the government published its finalised Energy National Policy Statements (NPSs) for debate in parliament.

The Energy NPSs provide a framework for decision making and outline the need for a drive on investment in new energy sources, including 33GW of new renewable energy capacity.

The government hopes to have nuclear facilities up and running at the eight locations by 2025.

The Jassim Transport & Stevedoring Company (JTC) has evolved far beyond its original remit of inland transportation to offer a diverse range of logistics support services. Jayne Alverca reports.

Founded in 1979, JTC began with a small fleet of trucks offering a simple inland transport proposition. Thirty years down the line, the company is firmly positioned as the largest end-to-end logistics and specialist equipment leasing operation in Kuwait.

Lancet Laboratories is already one of the leading pathology services operating throughout Africa. Moving into Nigeria will be a step change for the 60-year old partnership.

Total Namibia is shaping up to leverage its international experience and reputation to establish a foothold in the country’s booming mining sector.

Stephan Vitus, project development manager of Icon Yachts, talks to Jayne Flannery about the radical new approach to building the iconic super yachts that the company has pioneered.

Alan Swaby looks at a FTSE 100 oil company that didn’t have a barrel of oil to its name 25 years ago—but now has billions.

Tullow Oil is sitting on vast reserves of oil, so much so that the share price has gone from 400p in 2006 to 1400p today. Its biggest find to date—the Jubilee offshore field in Ghana—came on stream in 2010, just three years after the discovery was made. Other global sites saw an average of 58,100 boepd in 2010 from fields as far apart as the North Sea and Pakistan. 

Karelian Diamond Resources has announced the resumption of drilling on its Seitaperä diamondiferous kimberlite pipe in Finland.

The 6.9 hectare Seitaperä pipe, in the Kuhmo region of Finland, is the largest known kimberlite pipe in the country.

Drilling at Seitaperä will consist of five or more drill holes with an objective to further test the extent of the diamond-bearing kimberlite facies and the shape of the kimberlite pipe to a depth of approximately 100 metres.

AWS Ocean Energy Ltd, the Scottish wave energy company, has secured a major investment from French power giant Alstom.

AWS said that Alstom has acquired a 40 per cent equity stake in the company, giving it the financial capability to accelerate the development of its AWS-III wave power technology.

The investment is Alstom’s first ever in the wave energy sector.