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Top story
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Fragile economy is 'concerning', say business leaders
The economy's limp into positive figures is a "cause for concern", according to the Birmingham office of KPMG. The firm's comments come as it was revealed that gross domestic product (GDP) grew by just 0.5 per cent in the first three months of 2011 – below the hopeful prediction of 1 per cent previously forecast. Business leaders across the region have reacted to the limited growth, with the Coventry and Warwickshire Chamber of Commerce saying the figures "by no means suggest we are on a sustainable road to recovery".
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Deals
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Three Spires sold in £33m deal
The Three Spires shopping centre in Lichfield has been sold for £33m. Developer Hammerson – which bought the site only last month – has struck a deal with a client of Orchard Street Investment Management. Hammerson, manager of Bimringham's Bullring, has also secured a £505m five-year revolving credit facility, it said this morning.
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DTEC snapped up by Engenda
DTEC Site Services, based in Staffordshire, has been bought by engineering group Engenda. Runcorn-based Engenda said the move was a continuation of its buy-and-build strategy.
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Property
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Local government risks derailing localism, says CBRE
Nearly a quarter of Conservative and one-third of Liberal Democrat councillors do not support the Localism Bill, new research has revealed. Philip Scott, the Birmingham-based head of planning for the regions at CB Richard Ellis, said the uncertainty among MPs highlights the fact the charter could result in "more bureaucracy, frustration and disappointment".
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City centre zone would be 'catalyst for growth', says LSH
Commercial property consultant Lambert Smith Hampton (LSH) has described the idea of an enterprise zone in Birmingham city centre as a potential "shot in the arm" for the region. LSH said the move could aid the shortage of city centre office space and encourage investment from London into Birmingham.
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Business
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West Mids manufacturers 'suffer disproportionately'
Midlands-based manufacturers are at a disadvantage when it comes to receiving funding. That's the view of Birmingham-based insolvency practice Poppleton and Appleby, which is urging banks and businesses to rethink their policies.
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Midlands insolvencies drop
There has been a fall in the number of businesses falling into administration in the Midlands, according to figures from accountancy firm Baker Tilly. Ninety-one companies failed in the first quarter of 2011 compared to 101 in the comparable 2010 period.
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Something for the bank holiday weekend
This week's bank holiday edition of something for the weekend treats includes: Wedding wows; cycling for a good cause and Hollywood Blues
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New prize launched at Family Awards
A new category is being launched at the 2011 Midlands Family Business Awards. The 'outstanding customer service award' is being backed by Mansfield-based training organisation Positive Outcomes.
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West Mids is global manufacturing hub, say Swedes
The West Midlands is the "manufacturing hub of the world" according to a group of Swedish manufacturers who recently visited the region.
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