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Top story
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Alstom Grid to unveil £44m engineering centre
Engineering giant Alstom UK is planning to plough its investment from the government's Regional Growth Fund (RGF) into a £44m Centre of Engineering Competence, located in Stafford. Speaking to Insider, Stephen Burgin, country president of Alstom UK, said the Alstom Grid venture would create 125 jobs over the next three years. The news came as Alstom revealed its global annual results for the year to 31 March 2011, in which the company registered sales of more than £18.4bn.
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Deals
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Key Technologies disposes rail division
Key Technologies, the InvestBX-listed engineering business, has sold its rail business at Cradley Heath to Mors Smitt. The Stratford-upon-Avon-based company, which is part of the Grove Industries portfolio, divested the businesses for £2.4m.
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Raw Games secures Legendary investment
Legendary Investments has acquired an initial 42.5 per cent equity interest in Birmingham Science Park-based Raw Games. Creative games developer Raw Games' first product is currently under development.
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£5bn JLR boost welcomed by industry
JLR's £5bn investment into UK manufacturing will provide a welcome boost for the automotive industry. That's according to John Leech, partner at KPMG in Birmingham.
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Skan Group Holdings snaps up Reynolds Boughton
Skan Group Holdings, based in Solihull, has bought Reynolds Boughton out of administration. Reynolds Boughton, which manufactures waste handling equipment, has a site in Staffordshire.
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Tech funding scheme launches
An investment programme offering funding of up to £20,000 launches today. Devised by serial entrepreneur Mark Hales, Oxygen Accelerator will provide mentoring and training for technology start-ups. It is open to applications from individuals or groups with an "innovative tech-focused product".
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Property
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REI makes South Wales investment
Real Estate Investors (REI), Paul Bassi's Birmingham-based property group, has acquired more than 32 acres of land in Tredegar, South Wales, for £1m. The site has planning consent for 283 houses.
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Commercial property market up, says RICS
Demand for commercial property in the West Midlands rose strongly during the first three months of 2011. That's according to the latest RICS UK commercial market survey.
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Business
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Phoenix Four banned by BIS
The four former MG Rover directors, known as the Phoenix Four, have been banned from taking positions as directors of limited companies for between three and six years, the Department for Business, Innovation and Skills (BIS) has confirmed.
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Economic activity increases in West Mids
The West Midlands posted the second fastest rise in activity of all UK regions in April. According to the latest Lloyds TSB Commercial West Midlands PMI statistics, the region was one of the UK's top performers in the month, despite it having the slowest rise in new orders for five months.
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Insider Membership – Communicate with Midlands Top Companies
Looking to develop your business? Want to expand your commercial reach? Try a sample of our Midlands Top 500 Companies marketing data list. Insider membership provides its members with up to date local business data, editorial, advice, networking events. Request a free data sample and membership information today.
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Other News
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Business insolvencies on the rise
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Community
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In Focus: Funding fault
Andy Coyne calls on banks to help businesses by being more transparent about their lending criteria.
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Dealmakers wrap: Primary education
In our latest Dealmakers Wrap - contributed by winners of our Dealmakers Awards 2010 - Matt Caffrey of ISIS reflects on the opportunities presented by the government’s shake-up of healthcare provision.
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