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Top story
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Pier review for Birmingham Airport
Birmingham International Airport has begun building a £45m extension to Terminal One, the single biggest investment in the airport in more than 20 years. The International Pier, replacing the out-dated pier built in 1984, will be three storeys high, 240m long and 24m wide. It will provide parking and bridges for seven wide-bodied jets and up to 13 smaller aircraft. Departing passengers will be on the top level, with arriving passengers on the middle, and offices for airlines and handling agents offices will be on the ground floor.
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Stagflation stymies rate cuts, says Chamber
The twin threats of slowing growth and rising inflation - âstagflation' - mean businesses shouldn't expect interest rates to come down in the near future, according to Birmingham Chamber of Commerce and Industry. Katie Teasdale, policy adviser, said: "The latest minutes of the Bank of England's Monetary Policy Committee reinforce the seriousness of the twin threats and the difficulty the MPC faces in managing the worsening situation. It is pleasing to see that the MPC is adopting a less hawkish position than we might have anticipated, eschewing further rate rises despite the upward inflationary pressures." 
Good news at Goodrich
Auto components group Goodrich Corporation has opened an engine control systems test facility in Birmingham. The facility is part of a £10m investment to create a world-class fuel system centre. It has been built with help from a £2m Advantage West Midlands grant.
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Neutrahealth swaps businesses with US group
Healthcare group Neutrahealth has played swap with a US drugs business. The Birmingham-based AIM-listed group has bought the UK arm of American vitamin and mineral supplement supplier Perrigo for £6.4m. It is based in Swadlincote, Derbyshire, and will be renamed Brunel Healthcare Manufacturing. Meanwhile, Perrigo has taken over Neutrahealth's over-the-counter pharma business in Bristol.
Co-op Travel Management swoops on Parador
Stafford-based Co-operative Travel Management has acquired Parador Travel Management. The purchase of the London corporate travel company will take the Co-op's annual sales to more than £100m and into the UK's top ten business travel companies. The deal adds two offices to the Co-op's network, bringing it to 16.
Pieces fit for Traveljigsaw
The Birmingham offices of Yorkshire Bank and Isis Private Equity Partners have funded the management buyout (MBO) of Traveljigsaw, the worldwide car rental broker. The deal gives control to the management team, which founded Traveljigsaw in 2004 and has helped to make it the third-largest car rental broker in Europe. Yorkshire Bank provided a funding package of £8m to support the MBO.
One big deal
Law firm Bevan Brittan in Birmingham has advised Jersey-based International Marketing and Sales Group on a £10.2m share-for-share bid for Swedish corporate communications company One Media Holdings. One is among the biggest direct marketing companies in the Nordic region. The move will create a company with a combined annual turnover of more than £84m.
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Capital move at Edgbaston
In one of the biggest property deals in Birmingham this year Capital & Counties has let nearly 35,000 sq ft to government agency the Tribunals Service, at 54 Hagley Road, Edgbaston, following a £15m refurbishment. The deal is the largest letting in Edgbaston since the Big Lottery moved to Apex House in 2006. It will be the Tribunals Service's first new Administrative Support Centre in Britain. The 142,000 sq ft grade A office scheme is already home to Yell and O'Neill & Brennan. King Sturge acted as agent for Capital & Counties. EC Harris acted as managing agents for the Tribunals Service, dealing with fit-out and management of the space.
Back to school for Carillion
Carillion has agreed a £208m deal with the Local Education Partnership (LEP) to build and upgrade eight secondary schools in Nottingham. The Wolverhampton-based construction business will invest about £4m of equity in the project, carry out construction work valued at £180m and provide facilities management to three of the new schools, worth £28m over 25 years. In addition, there is potential to build three academies, two of which are currently being developed by the LEP. Building work on the new schools will begin this month and will be completed in 2010.
Headline for Hortons
Hortons Estate has let a 1,100 sq ft sixth-floor suite at 21 Bennett's Hill to PR and marketing consultancy Headline Communications on a five-year lease at £17 per sq ft.
Serene moment for London and Cambridge
Furniture importer Serene Furnishings, which specialises in bedsteads is moving from Walsall to a unit twice the size, at 29,730 sq ft, at the Hill Top Estate in West Bromwich is owned by London and Cambridge Properties.
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KBC man invested at Investbx
The man who headed Dutch bank KBC's launch into the Midlands business community has joined Investbx, the West Midlands' virtual stock exchange. Former corporate branch manager Andy Povey, who was the face of the KBC's Birmingham branch, has joined Investbx as a client relationship manager.
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