EMI 'planning cost-cutting measures to attract investors'

Music group EMI is preparing further cost-cutting plans to persuade investors to pump £120m (€137m) into the business, it was reported today.

The group – which is owned by private equity company Terra Firma and counts Robbie Williams and Coldplay among its artists – posted a £1.75bn (€2bn) loss for the year to March 2009 in accounts last week.