| Ed Mitchell's 'debt' problem: the full story
A debt problem apparently took former ITN newsman Ed Mitchell from a £100,000-a-year job to a park bench in Hove. Yes, he had 25 credit cards, but he forgot to mention the drinking and gambling. In an inteview with his wife Judy, we reveal the full story of his plunge into debt... .
Wales' line-out key to possible England win
On the wings, why not pick a wild card in Lesley Vainikolo? He has weaknesses but is doing well with Gloucester, and England have never had that type of power winger. With just one position at least, Ashton could show his virility. www.telegraph.co.uk/moore Have your say .
Does the crunch mean M&A is dead and buried?
Ironically, the recent market selloff has triggered renewed interest from private equity firms in taking companies private. "While there is a feeling of uncertainty among acquirers, there is also a feeling of opportunity in these volatile times. Larger corporates and private equity firms see parts of the mid-cap public market as hugely oversold by investors. "By taking a longer view than public market investors, some of those potential acquirers may move to buy those businesses at historical market premiums that don't recognise fundamental value," says Philip Noblet, the deputy head of European M&A at Merrill Lynch. Mark Barrow, a managing director at Dresdner Kleinwort, adds: "For now we need certainty, but once that comes there are likely to be strong buying opportunities again." But at the moment private equity firms can't raise the riskier tranches of debt to carry out the larger takeovers.
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