Sports Direct, Britain's biggest sporting goods retailer, has seen its influence over Northampton-based outdoor goods firm Blacks Leisure reduce after it failed to take up its rights to the firm's share offer which raised close to £20m. As a result, Shirebrook-based Sports Direct’s stake in Blacks is down from 27 per cent before the share offer to 14.5 per cent now. At a shareholders' meeting Sports Direct voted against the placing and open offer. However, the resolution was passed after gaining the support of a majority of shareholders. In March, Sports Direct, controlled by Newcastle United owner Mike Ashley, walked away from a possible bid for Blacks, believing key suppliers would not support it if it took control.

Companies in Nottinghamshire and Derbyshire have the chance to develop trading links and business relationships with their European counterparts during a week of activities aimed at bringing small and medium-sized companies from across the continent together. Derbyshire and Nottinghamshire Chamber of Commerce has been working to forge international business opportunities and trading links in Europe ahead of the upcoming European SME week. The event, which takes place between 25 May and 1 June, aims to provide information on how the EU and national, regional and local authorities are supporting small and medium-sized businesses, promoting entrepreneurship and enterprise.

The second edition of Talking Point, Insider’s exclusive weekly blog, is out today. Talking Point features the thoughts of a different figurehead from the region each week; today's sees John Forkin, director of Marketing Derby, discuss the inconveniences of the Icelandic volcano and the troubles businesses could face with the continued disruptions to flights. To read John’s blog, click here.

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A work accident specialist at Birmingham law firm Irwin Mitchell has expressed concern over the number of inspections being carried out by the Heath and Safety Executive (HSE), after statistics show that inspection levels have fallen by almost 70 per cent. Figures obtained through the Freedom of Information act show that the number of inspections carried out by the HSE has dropped from 75,252 (1999/2000) to 23,004 (2008/2009). Philip Edwards, partner and expert in workplace injuries at Irwin Mitchell, said: "A strong and robust system of inspection and enforcement is a major catalyst for improved health and safety.”

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PxP West Midlands has announced a further three lettings at its Radford’s Field Industrial Estate in Oswestry. One of the estate’s existing tenants, Fragile Planet Limited, who are suppliers of bee keeping equipment, has taken an additional unit of 1,001 sq ft on the site for its expanding business, electrical wholesaler Brown’s Wholesale has taken a 1,504 sq ft unit on a three year lease and Simon Ball’s bespoke vehicle servicing, who has taken a 1,015 sq ft unit.  Radford’s Field Industrial Estate is a development of workspace units available to let on flexible lease terms in 15 units ranging in size from 748 to 2,971 sq ft.

An industry expert has reacted positively to the news that the newly formed coalition government has suspended the use of Home Information Packs (HIPs) by home sellers with immediate effect. Chris Meredith, head of residential property at Warwickshire law firm Wright Hassall Solicitors, said: “HIPS have done nothing to speed up the process for people selling or purchasing homes. They have added little to the conveyancing process and, I think it would be fair to say, have been a substantial waste of money for a lot of people concerned.” Homes marketed for sale from today will now no longer require one of the packs.

Surveying firm heb has been instructed on a major gateway site into Nottingham. The site is the former Man of Trent pub in Clifton Lane, which totals approximately two acres. The site occupies a prominent position on the A453 leading form J24 of the M1, through Clifton and to the city centre. Heb partner Jonathan Emmerson said: “We anticipate strong demand from a range of potential occupiers, subject to ongoing discussions with the planning department of Nottingham City Council, as the site is extremely prominent with a huge amount of vehicular travel passing by.”

The phased opening of the £170m new Walsall Manor Hospital has begun with the official launch of the Family Health and Diagnostics Centre. The centre is the first of three state-of-the-art new buildings that will see the completion of the hospital redevelopment this summer. The centre opens to the public on Monday. The new hospital is a key part of Walsall’s regeneration plans.

Stockbroker WH Ireland, based in Birmingham, will make big changes to its management team as both chief executive officer Richard Ford and finance director Nigel Gurney have announced plans to step down. Gurney will leave the company on 31 August, while Ford will remain in his position until November. The board says it is already in talks with a number of potential candidates to take over the roles.

Travis Perkins has announced the appointment of Robert Walker as chairman. Walker, who is currently non-executive director of the Northampton-based builders’ merchant, will take over the role following the resignation of Tim Stevenson. Walker joined the company last September, and will also take on Stevenson’s responsibilities as non-executive chairman.

Local insolvency practitioner Matthew Hammond has been appointed chair for the Midlands region of insolvency trade body R3, taking over from Begbies Traynor partner James Martin. Hammond, a partner at the Midlands office of PricewaterhouseCoopers has more than 15 years’ experience working in the local restructuring, turnaround and insolvency arena and has served as vice-chair of R3’s Midlands region committee for the past two years. He is currently lead administrator on The Cube development in Birmingham. He said: “Whilst R3 will continue to lobby and campaign to ensure that viable businesses do not fail unnecessarily, our over-riding message is that individuals or companies in financial difficulty should seek immediate professional advice."