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Top story
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Don’t ignore manufacturing, warns futurist
Manchester must embrace manufacturing to thrive, Dr Chris Luebkeman, director of global foresight and innovation at engineering giant Arup, told a Cityconversations event in the city this morning. He said: “As energy issues impact global movements, I deeply believe the relocalisation of manufacturing elements that have been outsourced is key for Manchester, which led the world at one time in manufacturing.” Luebkeman spoke at length on the impact of changing populations, their use of natural resources and the unsustainability of rapid urbanisation. He said: “Manchester has opportunities. At one time a lot of people just had to be in New York or London, but technology has improved and quality of life has become more important to people. The global race for talent is not over.”
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Deals
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Money for the region as fund tendering begins
Regional fund managers are preparing to tender for the contract to manage a £140m venture capital loan fund for the North West, which is being launched by the Northwest Regional Development Agency (NWDA). Part of the 2007-13 European Regional Development Fund programme, the fund will be ready to take applications early in 2009 and aims to plug the funding gap for North West business. The fund is part of a package launched by Prime Minister Gordon Brown that includes a £40m skills fund, £10m in high-growth business support and £4.1m of innovation vouchers. This follows the first meeting yesterday of the Joint Economic Commission for the region under the chairmanship of minister for the North West Beverley Hughes. Bryan Gray, chairman of the NWDA, said: “Tough decisions are now required to help businesses through short- to medium-term challenges. It’s essential the public sector does what it can to get the financial system moving again.”
MBO for Print Search
At a time when closing deals can be tricky, Trafford Park-based print management company Print Search has been sold in a management buyout to David Beale, who has worked in the company for almost two years. The company, which has been trading for more than 35 years, counts PJH Group, Manchester United and Yates among its clients, as well as national blue-chip names. Beale said: “This signals a new and challenging chapter in the company’s history. We will continue to place the customer at the forefront of all we do whilst delivering both financial and operational benefits to our clients.” Funding was provided by The Royal Bank of Scotland and RBS Invoice Finance.
Employee insulation
Home Insulation Services (HIS), a Preston and Kirkham-based insulation, heating and renewable energy company, has been bought by The Baxi Partnership as a route into employee ownership. The transfer process, advised by Tenon, will empower the employees of HIS and provide the chance to share in the wealth that they help to create in the business. Managing director Paul Cooper said: “We are all looking forward to continuing the journey into full employee ownership. The new model will recognise the vital role our employees have in running the business and ensure everyone has a voice in determining the future of HIS.”
Pets at home
Preston-based trade pet shop supplier Reads & Co has relocated to the Roman Way Industrial Estate in the city thanks to a funding package from Rosebud Finance. The company, which was established in 2007, sells a range of pet beds, collars, leads and toys, as well Cozydoze, its own range of pet bedding. Two new jobs will also be created as a result of the move. Rosebud Finance is run by Lancashire County Developments Limited, the economic development department of Lancashire County Council.
Beever and Struthers boosts restructuring team
Manchester-based chartered accountancy firm Beever and Struthers is bucking the trend for redundancies by bolstering its corporate team with the appointment of two specialists in restructuring or refinancing. The firm has hired Charles MacMillan as a partner and Fran Henshaw as a senior manager. MacMillan boasts more than 25 years’ experience in corporate recovery and insolvency work at KPMG, Leonard Curtis and with BDO Stoy Hayward in Manchester. Henshaw’s previous role was as a Manchester-based national compliance manager for Kroll and as part of the Leonard Curtis team.
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Business
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European funding to tackle skills shortage
The government will today announce that almost £5.4m will be made available to the North West – with £2.6m earmarked for Merseyside - to help tackle skills shortages in the region. The money has been made available by the European Union’s European Social Fund and forms part of a £27m investment across England. Public and private sector organisations will now be invited to submit proposals to run projects that develop new ways of extending employment opportunities and improving skills. “This initiative will help break down barriers that prevent people achieving their potential, and tackle some of the biggest challenges facing our society,” said Tony McNulty, minister for employment and welfare reform.
Broca shortlisted for innovation award
Rawtenstall-based mobile technology company Broca, which demerged from 2ergo in 2007, has been nominated as one of three regional finalists in the mobile innovation category at the 2009 GSM Association Mobile Innovation Global Award Competition. The business has been shortlisted for its SMS-based data capture product Acquire, which provides a revolutionary method of data capture for sensitive information. Broca will find out on 19 November if it has gone through to the overall final to be held in Barcelona next February.
Bglobal praises smart metering decision
Peter Kennedy, the chief executive of Darwen-based smart metering company Bglobal, has praised the government’s decision to mandate the use of smart meters for gas and electricity in every UK home by 2020. “The government’s unprecedented 47 million smart energy device plan promises to give all British people fair, timely and accurate energy bills for the first time,” he said. “This is a great deal for homeowners and small business energy consumers.” The introduction of smart meters could help the UK reduce carbon emissions by around 3 per cent of the 153 million tonnes of carbon dioxide emitted from UK households each year.
Encouraging engineering
The Northwest Regional Development Agency and the Engineering Development Trust Northwest is hosting an event to encourage more young people in Cumbria to take a year in industry and see how many careers are available in the region. Taking place at the Sellafield Visitor Centre on 18 November, the event will allow students to meet representative’s from 100 top Cumbrian organisations looking to recruit pupils in 2009/10 and hear from students currently taking part in the programme. The event is part of the Northwest Regional Development Agency’s £1m Industry Placements Project, which will run from 2008 to 2011.
Beauty products expert takes role at Renovo
Manchester-based biopharmaceuticals company Renovo, which develops scar treatment and healing drugs, has appointed Susan Taylor as a non-executive director. She has more than 37 years’ experience in the cosmetic industry and was until recently vice-president for international communications for global prestige beauty products company Elizabeth Arden. She left Elizabeth Arden in July 2008 to establish her own consulting business.
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Property
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Tague on Tour – David McLean
We all knew that the economic downturn and crisis in the housing market was going to hit the North West property industry hard, but David McLean will go down in history as one of the biggest casualties of the crunch. In the latest of a series of monthly online columns for the regional property market, Tague on Tour, Insider assistant editor Neil Tague examines the downfall of an ambitious property empire and asks what went wrong. Our new online section also features all the day’s property news.
Not the end of the world, says professor
There are chinks of light up ahead, economist Professor Patrick Minford said in Manchester yesterday. Addressing Atisreal’s Housing & the Economy seminar, Minford said: “It’s a recession, but not an end-of-the-world scenario – the effects of the credit crunch have already been offset in the US by the Federal Reserve. Bank lending will restart next year under pressure from shareholding governments, leading to a gradual return to normality.”
Consent for two Citybranch schemes
Cheshire developer Citybranch has won planning consents for £50m of new development projects that will deliver investment in two south Manchester locations: The Square shopping centre in Hale Barns and a new grade A office-led scheme in Altrincham town centre. The Square will be redeveloped into a high-quality shopping destination, anchored by a 27,950 sq ft premium food-store with a further 14 retail units. The office scheme, known as Stirling Green, is located just minutes away from the Metrolink interchange and comprises about 47,500 sq ft grade A offices above a mix of retail and leisure uses.
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