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Top story
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Aerospace company set to expand
Birkenhead-based CLM Group, a manufacturer of components and parts for the aerospace industry, has received a £600,000 grant from the Northwest Regional Development Agency which will allow it to invest in new equipment and create 34 new jobs. The company plans to use the funding to capitalise on the increasing use of composites and to increase its penetration into the military and business jet sectors. Managing director Geoff Stewart said the grant was recognition of the continuing need to grow and develop the aerospace industry in the North West. He said: "The grant is a tremendous vote of confidence in CML and its staff. As we enter this new and exciting stage in the company's development, we are delighted to have this support." By 2011 sales are forecast to increase by £5.6m to £18.8m, while the company plans to grow its workforce to 220.
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Business
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Stamp duty holiday "long overdue" says Thompson
The government's announcement this morning of a one-year freeze on stamp duty for houses below £175,000 has been welcomed by Liverpool property professionals. Tracy Thompson, director of the Nationwide Solicitors Alliance and a licensed conveyancer at Morecrofts Solicitors in Liverpool, said: "This is welcome but long overdue. Uncertainty over the government's plans has led to many property deals hanging in limbo. If the decision had been made sooner we could have avoided a situation where the number of approved mortgages has dropped 70 per cent since last year." 
Everton face tough home fixture
Ahead of tomorrow night's Extraordinary General Meeting regarding the club's proposed move to Kirkby, rebel Everton FC shareholders are expected to call for a second meeting at which it will call a vote of no confidence in the club's board of directors. Spokesman Mark Grayson said that the shareholders want a new vote on the Kirkby move following the government's calling-in of the scheme.
Let's talk
One in five UK accountants say that their clients have been refused credit or had funding restrictions imposed in the light of the credit crunch, according to a survey by invoice and asset-based lender Venture Finance. It says that a quarter of accountants believe their clients to be more nervous about investing in their businesses. However, research published today by Close Invoice Finance suggested that 49 per cent of small businesses claimed not to have seen their bank manager for a year.
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Property
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A Shore thing
Wirral property consultancy Smith and Sons has pre-let a 32,000 sq ft commercial facility at Shore Lines in Woodside to structural warranty provider MD Insurance. Previously occupied by Littlewoods, Shorelines is a former Victorian railway building being converted into grade A office accommodation. It sits next to the Cheshire Lines building and once complete, will comprise a total of over 100,000 sq ft of office accommodation, which itself represents the largest single office complex in Wirral.
Stan and deliver
The Stanley Building on Hanover Street, the first of the period spaces to be redeveloped as part of Grosvenor's Liverpool One project, will be launched tomorrow morning. Dating back to 1880, the building offers two floors of office accommodation spanning over 8,800 sq ft along with retail and restaurant units. The opening of the offices, based opposite the city's new Novotel, coincides with the launch of Q-Park's 550-space car park also on Hanover Street.
HMG takes advantage of market
Investor Hollins Murray Group has acquired two prime retail units from Norwich Union on Manchester's prime retail pitch King Street. The property is let to two retail tenants on the ground floor, but also includes up to 4,500 sq ft of vacant office space that requires refurbishment. The deal represents a net initial yield of 6.5 per cent. Nick Casson, HMG director, said: "We were able to buy this property at a very attractive price because we had the cash resources to complete quickly."
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Deals
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RSA Insurance surges as bid talk continues
Shares in RSA Insurance rose 4.5 per cent yesterday amid ongoing speculation of a takeover bid by either Switzerland's Zurich Financial Services or Swiss Life. The talk of a potential bid for the insurer, which employs around 1,300 staff in Liverpool, has mounted in recent weeks after the Royal Bank of Scotland appeared to abandon its plans to auction off its insurance businesses Direct Line and Churchill. RSA's share price was up 3 per cent this morning to 162p, around 35 per cent higher than two months ago.
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