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Top story
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RGF panel will 'be like Scrooge', warns Wrigglesworth
Sir Ian Wrigglesworth, deputy chairman of the £1.4bn Regional Growth Fund (RGF), has told Insider that those expecting an easy cash windfall will be disappointed. Only bids that generate sustainable, profitable private business in areas relying heavily on the public sector will be considered for handouts ahead of tonight's deadline, he said. The West Midlands is expected to put forward several major bids, including a £20m bid from Finance Birmingham, as exclusively revealed by Insider last week. Wrigglesworth said: “A lot of people think we’re Father Christmas, but it will be more like Scrooge."
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Deals
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D-Day for Boparan
Time is running out for Birmingham entrepreneur Ranjit Boparan if he intends to table an offer for Northern Foods. Boparan was the subject of a 'put or shut up notice' from The Panel on Takeovers and Mergers and has until today (21 January) to make an offer for the food manufacturer.
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Business Loan Network launches
Ten West Midlands-based private investors have joined forces with a venture capital fund manager to create an “eBay for business loans”. The investors said the Business Loan Network (BLN) would provide businesses in the region with a lower cost alternative to borrowing from a high street bank.
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AIS secures tractor deal
Agricultural Industrial Services (AIS), the Derby-based subsidiary of Dunstall Holdings, has acquired Rea Valley Tractors (RVT), headquartered near Shrewsbury. The buyout of RVT was financed by the Birmingham corporate banking centre of the Co-operative Bank.
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Property
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ISG digs into Hagley Road development
Construction company ISG has begun work on a £1.1m project to build a retail development on Hagley Road in Birmingham. The scheme has already attracted interest from retailers, with sports giant American Golf and the Co-op both set to move into the site.
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MCS in the driving seat for McLaren job
A Warwickshire construction company has begun work on a showroom for the latest McLaren sports car. MCS, based in Claverdon, will create the McLaren Birmingham complex on behalf of retailer Rybrook Holdings.
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Zoggs nets Wednesbury warehouse
Swimwear giant Zoggs International has acquired a Black Country warehouse on a ten-year lease. The unit, which comprise more than 21,000 sq ft of space, will operate as the company’s regional headquarters.
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Business
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Marches LEP board appointed
Geoffrey Davies has been appointed as the chairman of the Marches LEP. The managing director of agricultural manufacturer McConnel and vice-president of global vegetation maintenance company Alamo, he will now lead a board of private and public sector representatives.
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Uniq loses customer worth £10m a year
Uniq, the Gerrards Cross-based chilled convenience food group, has lost business worth £10m per year at its Minsterley facility in Shropshire, it has said.
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Catalyst hires England
Catalyst Corporate Finance has appointed a new dealmaker to its Birmingham team. James England joins the corporate financier from PwC in Birmingham.
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