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Top story
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Unemployment soars to record high in West Mids
The West Midlands should be considered a “special case for treatment” after it continued to be the region with the highest unemployment stats. According to leading business figures, there is now a case for creating special economic zones in the worst-hit parts of the region. Simon Griffiths, chief executive of Manufacturing Advisory Service West Midlands (MAS-WM), told Insider he would “welcome” the consideration.
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Deals
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QIIB bids for remaining Islamic Bank stakes
Qatar International Islamic Bank (QIIB) has made a bid of 1p for every share it does not own in Birmingham-based Islamic Bank of Britain (IBB). The offer values IBB at £25.5m.
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Boparan increases Northern Foods stake
Birmingham chicken entrepreneur Ranjit Boparan has increased his stake in Northern Foods. Boparan has acquired or agreed to take over 70.01 per cent of the share capital of the Leeds-based retailer, upping last week’s announcement that he was to purchase a 48.25 per cent stake.
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Oxalis continues growth with Video Marine acquisition
The Oxalis Group, based in Warwickshire, has acquired the UK, Singapore and Italian businesses of CCTV producer Video Marine International. The deal was advised by Birmingham-based M3 Corporate Finance.
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PPL in Swedish acquisition
PPL Polyurethane Products (PPL), which has offices and production facilities in Coventry and Retford, North Nottinghamshire, has been sold to a Swedish supplier of engineering systems.
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Property
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UK's first dual Hilton to set up in Staffordshire
Two Hilton hotels are to be constructed at St Georges Park in Burton-on-Trent. The development will include a Hilton Hotels and Resorts hotel and a Hampton by Hilton in the same building.
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£14m Lichfield scheme green lighted
The first phase of a new £14m scheme to provide more car parking, homes, a hotel and restaurant in Lichfield has received the go-ahead from the district council’s planning committee.
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Birmingham office supply crisis looming, says Colliers
Interest in office stock in Birmingham is the highest it has been for five years, fuelling fears of a looming supply crisis. According to Colliers International’s newly released net stock absorption survey, the city’s vacancy rate stands at 18.4 per cent – the lowest for two years.
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Business
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Lack of knowledge hampers exports, says survey
Less than 27 per cent of Birmingham businesses export their goods and services, figures released today reveal. According to a survey by the Birmingham Chamber of Commerce, many businesses in the region do not export because of their lack of knowledge about overseas trade and the range of support available to them.
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Enterprise Zones need to be aware of pitfalls, says LSH
Chancellor George Osborne must “learn from the mistakes of the past” when taking forward proposals for new 'Enterprise Zones'. That’s the view of property consultants at the Birmingham office of Lambert Smith Hampton (LSH).
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Insider Membership – Communicate with Midlands Top Companies
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Other News
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Walker takes on Barclays Wealth role
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Midlands Business Insider editor Andy Coyne on the necessity for pro-HS2 campaigners to make their voices heard.
