News about Robert Naylor

The music rights investor, which owns the back catalogues of Blondie, Shakira and the Red Hot Chili Peppers, said it agreed to a $1.30 (£1.04) per share proposal from Blackstone. It represents a 48 per cent premium to Hipgnosis's closing share price on 17 April before Concord Music, owner of the Round Hill Music Royalty Fund, put forward a £1.1billion bid for the company.

The embattled music investor Hipgnosis Songs Fund is expected to sell up to £20 million to lure prospective takeover bidders. In the midst of a pending dispute with its investment advisor over a suspected conflict of interest, the company's board is fighting to ensure the long-term success of the business and protect the value of its assets.

The Hipgnosis Songs Fund has been bounded by a growing crisis as a result of legal proceedings from a company that was founded by Merck Mercuriadis (pictured) once ran. A appeal by creditors' liquidators of Hipgnosis Music Limited has been filed in the High Court alleging the transfer of corporate opportunity from HML, of which Mercuriadis was previously a director, to the Hipgnosis Songs Fund.

A barrel of Brent crude dropped more than 2% to as low as $83.03 a barrel in a boost to motorists looking for cheaper fuel prices at the fuel pumps. That was a long way from when oil was selling at $97 per month at the end of September. The latest slowdown occurred after reports showed that China's exports fell faster than expected in October, overshadowing supply cuts by Saudia Arabia and Russia.