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Top story
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Coles buyer eyes up more West Midlands space
The company behind the Coles Homes Furnishings takeover has its sights set on a location for a new department store in Worcestershire, Insider has learnt. Home retailer group Leekes said that it is looking at a site to add to its group following its multi-million pound takeover of the Bilston-based Coles franchise last year.
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Deals
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UK tops global retail M&A table
The UK had the highest total transaction value worldwide for mergers and acquisitions involving retail businesses in the last 12 months, according to a report by IMAP, the global organisation of M&A advisory firms represented in the UK by Midlands-based Clearwater Corporate Finance. In the year to 30 September, there were 161 deals in the UK worth $3.9bn.
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Property
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Confident St Modwen hopes for Merseyside success
Birmingham developer St Modwen is confident that its schemes across Merseyside can reach "critical mass" over the next year as it enters a busy stage of development. Projects director Paul Batho spoke to Insider at the British Council for Shopping Centres (BCSC) conference in Manchester this week.
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Carillion wins £100m Oman contracts
The Oman arm of Wolverhampton-based Carillion has been awarded three construction contracts and a facilities management contract. The deals are worth more than £100m to the construction giant.
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Green light for £12m community centre
Plans to build a new £12m complex integrating health and council services in Sparkbrook have been given the final go-ahead. Work will commence on the scheme, which will also see the construction of a new church hall, later this month.
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Construction starts on £30m science centre
Work has started on Staffordshire University’s Science and Technology Centre. The £30m development, which is being built by Miller Construction, is set to be completed in 2012.
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Business
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Construction jobs at risk by VAT rise - FMB
The Federation of Master Builders has criticised the government's decision to raise VAT in January, claiming it will result in the loss of 7,500 jobs in the construction sector. John Watson, regional director for FMB Midlands, told Insider the government's drive for energy-efficient homes, the Green Deal, could also be threatened by the VAT rise.
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90 jobs created at new Wesleyan division
Wesleyan Assurance Society will create 90 new jobs at its Birmingham head office over the next two years. The financial adviser will establish a Sales Relationship Centre (SRC) in the city, and said that the first phase of recruitment was “currently underway”.
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Business leaders get Big City insight
Birmingham’s business and civic leaders have received the latest insight into The Big City Plan. More than 70 business leaders met at the 'Breakfast by Bruntwood' seminar, which also discussed the new Business Birmingham strategy.
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New board members at Maganese Bronze
Manganese Bronze Holdings, the Coventry based taxi manufacturer, has made two senior appointments to its board of directors. Jie Zhao will join the board as deputy chief executive officer and Wenming Cao as a non-executive director.
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