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Top story
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Birmingham will flourish through investment, says KPMG partner
Birmingham must be able to promote itself as an attractive investment to overseas investors, according to KPMG’s new office senior partner in the city. Mike Steventon told Insider that securing overseas investment would be “key” to reviving the city’s economy. He also discussed the revival of manufacturing giant GKN, and said that the company was now looking to grow through acquisitions.
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Deals
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Equity fund given go-ahead
The creation of a recyclable equity fund has been green-lighted by Birmingham city councillors. The fund, which will help local companies to grow their business, will complement the existing £10m Birmingham City Council Business Loan Fund (BLF).
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£7.5m investment for Kitwave
Kitwave, a wholesaler of tobacco, confectionery and drinks, has received a funding boost of £7.5m from NVM Private Equity (NVM). The company, which has a base in Telford, said the capital injection would support its growth strategy.
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Utilise manufacturing funding scheme, says MAS-WM
Aerospace and defence businesses in the West Midlands are being urged to tap into £1.5m funding scheme. Peter Jones, a newly appointed project manager at the Manufacturing Advisory Service–West Midlands (MAS-WM), said the scheme could help companies take advantage of growth across the manufacturing sector.
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Buyout market bounces back - CMBOR
The UK buyout market "rebounded strongly" in 2010 with the overall value of private equity backed transactions reaching £18.6bn, the Centre for Management Buy-out Research (CMBOR) has reported. This compares to £4.7bn in 2009, when buyout values fell following the collapse of Lehman Brothers.
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Property
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Administrators appointed at McInerney
Seven companies within the UK arm of McInerney Holdings, including McInerney Homes which has an office in Wolverhampton, have gone into administration. Richard Heis, Brian Green and Paul Dumbell, of KPMG, have been appointed joint administrators.
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Shard End project creates 50 jobs
A development of nearly 200 homes in Birmingham has created 50 jobs in the region. The £27m Shard End scheme is being constructed by housebuilder Barratt West Midlands.
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Business
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HBJ Gateley Wareing adds two partners
The Birmingham office of law firm HBJ Gateley Wareing has appointed two new partners to its real estate team. Raman Jagpal and Alex Jones have almost 35 years’ combined experience in real estate.
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Assura “well positioned” for growth
Assura Group says it expects its results for the year ending 31 March 2011 to be ahead of expectations after the acquisition of AH Medical Properties.
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Eco team launched at Harrison Clarke
Worcester law firm Harrison Clarke has expanded with the creation of a renewable energy division. The team will advise on issues including regulation, planning and IP law in respect of renewable energy.
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Insider Membership – Communicate with Midlands Top Companies
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Community
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In focus: A curate’s egg
Andy Coyne reflects on good things contained in the Budget and potentially good things that were left out.
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Talking Point: Know their rights
Freeth Cartwright’s Rebecca Sawbridge looks at the impact of the new agency worker regulations
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