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Top story
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Profit and turnover leap at RSM Tenon
National advisory and accountancy service RSM Tenon has revealed a turnover increase of 65 per cent in the second half of 2010. The Birmingham-based firm said underlying profits also climbed by 53 per cent over the six-month period. The firm said it was continuing to reap the benefit of its major mergers with RSM Bentley Jennison and certain assets of Vantis, adding it expected the integrations to deliver about £10m in cost savings over the next year.
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Deals
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San Carlo to back Flying Pizza with £1m
Restaurant group San Carlo says it will invest £1m in its newly acquired Flying Pizza venue. It comes after the Birmingham-based chain bought the critically acclaimed restaurant from administrator PKF for an undisclosed sum.
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Fruitful investment for Fertilty Focus
Fertility Focus, based in Warwick, has received £775,000-worth of funding. The investment was made by several parties and includes £375,000 of backing from the Exceed Midlands Advantage Fund.
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AIM set to make a comeback
The Alternative Investment Market (AIM) is “fighting back”. That’s the view of Midlands tax and advisory firm Crowe Clarke Whitehall, which said that the average market capitalisation of an AIM submission had increased by more than £20m in the past year.
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Property
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Drop in West Mids grade A deals, says report
There were no grade A industrial space transactions completed in the final quarter of 2010 in the West Midlands. According to DTZ Research’s UK Property Times industrial market report, activity in the period was dominated by third party distributors which accounted for half of all lettings.
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Carillion digs into academy deal
Construction giant Carillion has agreed a deal worth £16.3m to build a second academy in Southampton. The Wolverhampton-based company said the school will open in September 2012.
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Business
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Capula starts recruitment drive
Staffordshire-based IT specialist Capula has revealed plans to create up to 50 new jobs across its five UK sites. The company said the recruitment drive has come in response to several contract wins.
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Chamber visit explores Pakistani trade links
Export opportunities across a range of sectors in Pakistan have been identified after a Birmingham Chamber of Commerce Group (BCCG) trade mission. The chamber’s India Pakistani trade unit organised the visit, which was attended by high-profile representatives from companies including Jaguar Land Rover (JLR).
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Watch out for green fraud, warns PwC
Fraud and market abuse has opened up in the sustainable business and green sector but the controls and systems that protect them remain relatively weak, PwC has warned in a report.
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