City Diary: Music festivals business Live Nation lacks fans for new Leicester gig

City Diary: Music festivals business Live Nation lacks fans for new Leicester gig


RIP Rivington Street

Not everyone is happy to let Rivington Street Holdings Plc, which traded under the code RIVP until its shares were suspended last month, rest in peace.

A bid team whose £500,000 offer for the investment company’s share-tipping site, t1ps.com, was knocked back last year are rather aggrieved.

They claim that deal, which was backed by Nigel Wray, the Saracens RFC chairman, could have saved Rivington from appointing administrators to three of its subsidiary companies last week.

“Absolute nonsense,” says Rivington. Since that bid fell apart, non-exec chairman Jim Mellon, the biotech investor, has put in “well in excess of £1m” to try to keep Rivington in the black.

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More (green) power to PwC. The Big Four firm’s Embankment Place office has installed two generators in the basement that run on biofuel made from waste cooking oil from local restaurants. Believe it or not, this chip-fat converter covers 60pc of the £120m eco-HQ’s electricity costs.

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harriet.dennys@telegraph.co.uk

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