British entertainment legend HMV is considering the sale of its Canadian retail operation to avoid breaking the terms of its debt arrangement.

With debts in the region of $200 million, the sale of assets seems the most likely short term option. HMV is already said to be looking for a buyer for its UK book retailer Waterstones, with Russian billionaire Alexander Mamut an interested party, possibly in partnership with the bookseller’s original founder Tim Waterstone.

Oil and gas major Royal Dutch Shell may spend up to R1.4 billion (approx. €145 million) on exploration in the Karoo region of South Africa, according to a report in Johannesburg’s I-Net Bridge.

Shell has asked the Petroleum Agency of South Africa for permission to explore around 90,000 square kilometres predominantly in the western area of the Karoo Basin.

On this day 100 years ago, a fire broke out in Manhattan’s Triangle Shirtwaist Company, in which 146 garment workers died and many more were injured.

The fire on Saturday 25 March 1911 still remains one of the deadliest fires in the history of the United States.

Virgin Rail Group is one of the companies shortlisted to tender for the new West Coast franchise, it has been announced.

Having revealed its shortlist for the new franchise yesterday, the Department for Transport is expected to publish the invitation to tender in May, with a bid deadline of August. The new franchisee will be announced in December, with the franchise expected to start in April 2012.

The West Coast service runs between London Euston and Glasgow, connecting Scotland, north-west England and the West Midlands to London.

Toyota Motor Corporation has said that some interruptions to production in North America are likely in the aftermath of the earthquake and tsunami in Japan, although it was too early to predict their location or duration.

Toyota has 13 vehicle and engine plants in North America, which have continued to run normally until now, apart from overtime being discontinued.

UK-based oilfield services company Expro has secured a £1.5 million well testing contract in the southern North Sea.

Under the terms of the 12-month contract, Expro will carry out well testing with cased hole logging work. The contract comes as an extension to Expro’s existing project work with the client, an international oil and gas operator.

German based photovoltaic systems and components supplier MAGE SOLAR has formally completed the transfer from limited liability company (GmbH) to stock corporation (AG). Shares will be owned 100 percent by its parent company MAGE Industries Holding AG.

"Restructuring as a stock corporation is the logical step to continue the growth strategy of MAGE SOLAR and its eight national and international subsidiaries," confirms Dr. Markus Feil, CEO of MAGE SOLAR AG.

Krispy Kreme Doughnuts is to enter into a supply chain distribution agreement with Sysco Corporation, according to an announcement made today.

The agreement proposes that Sygma, a Sysco subsidiary, will distribute proprietary doughnut mixes, other ingredients and supplies to Krispy Kreme franchise and company shops in the eastern United States.

Another Sysco subsidiary, IFG, will handle distribution of Krispy Kreme goods for export to the 20 foreign countries in which the company's international franchisees operate.

Fanie Pretorius, chair person of the South African Shippers Council, tells Jane Bordenave how the organisation works to benefit its members and how broad collaboration can bring success.