The London Times reports that U2 are restructuring their business affairs after a decade of bad investments and poor financial planning. The paper says that the group has lost money on a number of ventures including millions in a string of combined bowling and laser tag facilities. The last U2 world tour was thought to have been a break-even endeavor at best. The Times reports that the band is not broke but they quote management sources saying the members are not as rich as they should be. "They have nice houses and that is about it," said the source.

Billy Squier has just signed to J-Bird Records. What's special about J-Bird is that it proclaims itself as "The First WWW Recording Label." Billy's label debut release will be titled Happy Blue.

A Florida woman attending the Livestock rock festival in St. Petersburg, Florida, last year is suing Motley Crue and bassist Nikki Sixx for head injuries she claims she suffered when Sixx smashed his guitar on the stage and threw it into the audience. According to a report in the St. Petersburg Times, the flying instrument is alleged to have struck the 33 year-old woman in the forehead and knocking her to the ground. She was taken to a hospital by ambulance. The litigation is against Sixx (a.k.a. Frank Carlton Ferrano) and Motley Crue Touring Inc. There's no dollar figure attached other than the minimum filing requirement of $15,000 but she's suing for "pain and suffering, disability, mental anguish, loss of capacity for the enjoyment of life, expense of hospitalization, medical and nursing care and treatment, loss of earnings and loss of ability to earn money." Her husband is claiming "the loss of the care, companionship, society and comfort of his spouse."

During Paul Waaktaar-Savoy's two night stand at Brownies in New York, he reportedly said that this summer, A-ha will be back in the studio to record the next A-ha album. Also he said that there will not be just one in the band's future.

David Byrne (ex-Talking Heads frontman and world music connoisseur) is in discussions to serve as host for the upcoming season of Sessions At West 54th (a live music program carried in most markets on PBS.) The move will bring Byrne back to the show, as he was one of last year's 'session' performers. Sessions At West 54th is currently slated to start taping it's new season during the next few weeks. Byrne released Feelings, his 9th solo album last year.

Aerosmith drummer Joey Kramer narrowly escaped serious injury when his Ferrari convertible caught fire at a gas station not too far from his Boston-area home. Kramer sustained the most serious burns to his arm and hand as he shielded his face from the flames after a leak in the gas tank hose caused the fuel to ignite. He is being given 2 weeks to recover (the Ferrari won't) and the band will be back on the road mid-August. Their timely tour break was already scheduled after an accident on stage injuring frontman Steven Tyler.

A spokesperson for TVT Records told MTV News last Monday that English pop outfit XTC has inked a deal with the label that should bear fruit early next year. The band, which has been around for more than 20 years, found an audience in the '80s with college hits "Dear God," "Senses Working Overtime" and "Mayor Of Simpleton."