Banks Are Set to Offload Boots' $4.25 Billion Buyout Debt in July
The lenders are currently marketing the multi-currency financing, which includes a mix of leveraged loans and high-yield bonds, to a select group of potential buyers, according to people familiar with the matter who requested anonymity due to the private nature of the talks.
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New York Times
an hour ago
- New York Times
How to Panic Italians? Jack Up the Price of Espresso.
Andrea Consilvio did something this spring that he called 'a little crazy.' He bought an old and well-known coffee bar in the northwestern Italian city of Turin, his hometown. Brewing coffee for coffee-obsessed Italians, the people who invented espresso and the commercial machines and stovetop pots to make it, might hardly seem like a leap of faith. Nearly three-quarters of Italians drink coffee — by which they almost always mean espresso — at least once a day. Most Italians consider their daily coffee ritual to be sacrosanct. Yet they also expect their coffee to be cheap, available for little more than pocket change at any bar counter in the country. And that, amid a global jump in coffee bean prices caused in part by trade disruptions and climate change, has set off simmering anxiety among Italians. They worry that higher costs could push up retail prices and unsettle a part of the food and beverage economy that feels distinctively Italian. Among the most worried: the owners of the country's ubiquitous coffee bars. 'The world of coffee is changing,' said Mr. Consilvio. 'If prices continue to increase, it could become a serious danger' to both livelihoods and tradition. Luigi Morello, the president of the Italian Espresso National Institute, which safeguards the quality of Italian espresso (it should be hazel brown to dark brown, with foam, among other things), said higher coffee prices had 'rightfully alarmed' consumers. 'The whole supply chain is in crisis,' he said. Want all of The Times? Subscribe.
Yahoo
an hour ago
- Yahoo
Bid to make HMO lawful that 'plays crucial role providing affordable housing' in city
An application has been submitted to Newport City Council for a lawful development certificate for a house in multiple occupation (HMO). The planning application was submitted by Mr Fernando Enrique Mendoza Contreras on June 6 this year for a lawful development certificate for a long-standing HMO at 4 Fields Road in Newport. The application seeks legal recognition of the property's use as a C4-class HMO. Mr Mendoza Contreras said the property has operated as a HMO since at least October 12, 2013. This is before the introduction of Class C4 under Welsh planning regulations in 2015 and well before Mr Mendoza Contreras acquired the property in 2018. The applicant said the property is run responsibly, with shared facilities and private rooms for tenants. Weekly safety inspections are carried out by an estate agent, and the property complies fully with housing and safety regulations. Mr Mendoza Contreras said: "The HMO plays a crucial role in providing affordable housing for students, young professionals, and individuals referred by local authorities." "No complaints have been received from neighbours since 2018. "We manage tenancy agreements properly, maintain strong community relations, and support tenants in achieving their personal goals." Read more Electric charging zone to be installed at supermarket among green-lit applications Plan to convert shop into hot food takeaway rejected by council Church hall applies for licence to serve alcohol and play music The application was prompted by a mortgage lender's request for planning documentation. Upon consultation with local authority representatives, Mr Mendoza Contreras was advised to apply for a lawful development certificate to clarify the legal use of the property. In support of the application, the applicant has submitted a copy of his Rent Smart Wales landlord licence which was granted on June 19, 2018, and was valid until June 18, 2023, with the property now under the care of an estate agent. The licence confirms his compliance with the Housing (Wales) Act 2014 and adherence to the national Code of Practice. No objections have been reported as part of the application to date. A decision from Newport City Council is pending.
Yahoo
an hour ago
- Yahoo
Derby gets tough on HMOs after refusal on 'free-for-all' estate
Plans to move more residents into a 'filthy' Derby estate have been quashed after it was claimed the number of HMOs in the area had 'gone too far'. More than 50 people signed a petition against plans for another house of multiple occupation (HMO) to be allowed in the New Zealand ward. The plans submitted called for a rear extension so a property could house six individual occupants on Howe Street. The street is part of an estate where there are serious concerns regarding its appearance, fly-tipping, bins left on streets and parking. The rejection is one of the first signs seen publicly that Derby City Council is getting tougher on HMOs after long campaigning, which triggered new rules to come into force. READ MORE: Crews called out to fire in Allenton suburb READ MORE: Man taken to hospital after alleged stabbing in neck in Derby street as arrest made Join us on WhatsApp to get the latest news straight to your phone The plans were recommended for refusal by council officers prior to a planning meeting held on Thursday (July 10) despite the authority needing more housing. Officers said a 'lack of communal space for residents would result in a significantly harmful impact on the quality of living environment for occupiers'. Earlier this year a new Article 4 Direction came into force following major concerns that a high concentration of HMOs were causing problems such as fly-tipping and parking. The Article 4 direction, which was approved by the Government, aims to give Derby City Council more control and powers in regulating HMOs. Before the new rules came in, any HMO of up to six occupants was allowed as permitted development. But now those of any size within certain areas must require planning permission. Howe Street resident Sally Bareham told the planning committee the area was 'filthy and neglected' and another HMO was not needed. She said: 'We have 86 private landlords in the area, mainly short-term lets vacating regularly, leaving messes. Unless you live here you can't imagine how depressed we are watching more family homes being sold cheaply to landlords because the area is so filthy and neglected.' Read more - Famous Peak District shop reopens after huge refurbishment Councillor for Mackworth and New Zealand ward Gaurav Pandey said: 'There are nine HMOs on Howe Street already. Come in the evening and you will see how bad the parking situation is.' And fellow ward councillor Ndukwe Onuoha said: 'The community has become a free-for-all for HMOs. It's gone too far and residents are feeling it.' The committee refused the plans without much discussion. Chair of the planning committee Councillor Jerry Pearce said the decision was 'straightforward' before the vote took place. The applicant or a representative for the planning application did not speak at the meeting. We send out the biggest stories in an email every day. Sign up for the main Derbyshire Live newsletter here.
