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Top story
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'Programme bids' encouraged for RGF cash
Businesses and organisations will be encouraged to submit ‘programme bids’ to the second round of the £1.4bn Regional Growth Fund, the chief secretary to the Treasury has told Insider. Danny Alexander said bids could take the form of a loan fund for small companies in the region as the minimum bidding threshold of £1m was often unsuitable. His comments came as the chief executive of the Birmingham Chamber of Commerce told Insider that the region had done “perhaps better than expected” after details of the five successful bids emerged.
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Deals
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Rippleglen completes MBO
Birmingham-based newsagent Rippleglen has undergone a management buyout. The new owners said they now hope to expand and diversify into new markets.
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Wragge & Co advises Astex acquisition
The Birmingham office of law firm Wragge & Co has advised Astex Therapeutics on its acquisition by NASDAQ-listed SuperGen. The deal, worth £91m, will leave Astex shareholders with a 35 per cent stake in the company.
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Dudley Print merges with Husselworks
Two Black Country printing companies have merged to create “a more comprehensive service”. Dudley Print and Husselworks have joined forces in a deal advised by Dudley-based law firm Hawkins Hatton.
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Property
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Andrew Page drives Great Western deal
Automotive parts distributor Andrew Page has agreed a ten-year lease on a unit in the Great Western Business Park in Worcester. The park, owned by Birmingham-based developer St Modwen, has now let 15 of its 18 units.
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Stepnell wins warehouse contract
Rugby-based construction company Stepnell has been appointed to design and build a £1.2m warehouse and office development in Northampton.
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Business
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E.On to cut 175 jobs
Up to 175 jobs are to be axed at Coventry energy giant E.On. The company has told reporters that the majority of the job cuts would take place across the West Midlands.
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Insolvencies down by four, says PwC
There was a small decrease in the number of corporate insolvencies in the West Midlands during the first quarter of 2011. Research by PwC revealed 429 companies were declared insolvent in the three-month period – down from 433 on the previous quarter.
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Emma Bridgewater receives royal commission
Stoke-on-Trent potter Emma Bridgewater has been commissioned to create a commemorative mug for the royal wedding. Bridgewater, whose business bears her name, was asked to design the item for Kate Middleton’s home village of Buckleby.
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Director trio promoted at Catalyst
Corporate finance firm Catalyst has appointed three new directors. Jeremy Harrison, Richard Holden and Simon Peacock have all been promoted to the role at the Birmingham-based firm.
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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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In our latest Dealmakers Wrap - contributed by winners of our Dealmakers Awards 2010 - LDC’s Chris Hurley suggests that there are positive signals for the manufacturing and engineering sectors.
