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Top story
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Businesses urged to prepare for equality laws
Employers need to prepare for the government’s proposed new Equality Bill, said lawyers today, as the Equality and Human Rights Commission released its annual report into the woes of women who feel unable to reach positions of power and influence. This year’s Sex and Power report revealed a trend of reversal or stalled progress as fewer women hold top posts in 12 out of the report’s 25 categories. Kate McGough, an associate in the employment team at DLA Piper in Manchester, said: “The results of the report are not that surprising. Although there has been progress there are still organisations where equality is an issue. The forthcoming changes proposed under the Equality Bill are going to push this up the agenda more and include issues such as equal pay.” Proposals to make equality reporting compulsory for the public sector could trickle down to private sector companies tendering for work, she added.
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Deals
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Prankster Penk buys Revolution radio
Radio broadcaster Steve Penk – known for his pranks and hoaxes - has made the first step on his evolution from DJ to media tycoon, in Oldham. The Key 103 and Capital Radio presenter has bought Oldham-based radio station 96.2 The Revolution from UKRD Group and local newspaper the Oldham Chronicle. Penk said: “I have big plans for the radio station. The North West is a fantastic market currently dominated by the huge radio groups and the BBC.” Revolution has less than 2 per cent market share. His advisers were Jeremy Cole of Cole Associates Corporate Finance and Jim Truscott of Heatons Solicitors. The price was not disclosed, but is estimated at about £500,000.
Saturn forms new division through acquisition
Digital signage specialist Saturn Communications Group has formed a new Cinema Solutions Division to provide cinema operators with an integrated range of customer communication and marketing services, including digital signage, promotional packaging and a number of digital media initiatives. In doing so, Wigan-based Saturn has acquired specialist marketing and packaging company Cinema Scene UK, the Manchester-based UK arm of a global company encompassing a network of partners and strategic alliances serving over 40 countries. The new division of Saturn will be headed by Tony Paulden, the former managing director of Cinema Scene UK.
Gamingking grasps Orb and Sceptre
Preston-based Sceptre Leisure, an operator of amusement, gaming and leisure equipment, has been taken over by Gamingking, an AIM-quoted company based in Ilford that supplies gaming machines to the registered members' club market. In a reverse takeover of Sceptre owner Orb Holdings, which was advised by Lancashire law firm Napthens, a new company will be formed, called Sceptre Leisure, employing 400 people and looking to roll out up to 2,000 lottering machines in the next 12 to 18 months. In May 2005 Gamingking acquired its largest competitor, Kelly's Eye, and is looking to build on the changes to rules governing lottery machines and bingo games in pubs.
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Business
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Bank holds interest rates again
The Bank of England has again kept interest rates on hold at 5 per cent, but analysts are predicting cuts before the end of the year. David Kern, economic adviser for the British Chambers of Commerce, said: "The Monetary Policy Committee (MPC) cannot ignore the mounting threats of falling UK house prices and worsening pressures on the global banking system. The MPC must start cutting rates in October or November, as soon as inflation peaks." And Peter Spencer, chief economic adviser to the Ernst & Young ITEM Club, added: "With oil prices having fallen sharply in recent months and no sign of any second-round effects on wages, we expect the Bank to reduce interest rates once there are clear signs that inflation has peaked. This could be as early as the end of this year."
RDA promises £200m to help businesses
The Northwest Regional Development Agency (NWDA) is today launching a new document for discussion with business, local authorities, housing groups, communities and the voluntary sector that sets out how the regional economy has changed in recent years and the main challenges and opportunities it faces in the period ahead. At an event today attended by treasury ministers Yvette Cooper and Jane Kennedy, alongside regional minister Beverley Hughes and 100 business leaders, the NWDA also outlined new initiatives totalling £200m, such as the £140m Venture Capital Loan Fund being launched in 2009, which will be one of the first initiatives announced from the £521m European Regional Development Fund Programme.
Stanley steps down at Optare
Optare, which was acquired by Blackburn-based bus builder Darwen Holdings in July, has appointed existing non-executive director John Fickling as its new non-executive chairman. He replaces Roy Stanley who has stepped down from the role to become non-executive director. Chief executive Andrew Brian said: "Since our acquisition of Optare in July, we have grown into the UK's second largest bus manufacturer and have benefited hugely from Roy Stanley's chairmanship, during which he has been instrumental in our acquisition programme, AIM listing and initial integration phase."
Premier League unaffected by credit crunch
The multimillion-pound deadline day transfers of Robinho to Manchester City and Dimitar Berbatov to Manchester United helped boost Premier League spending to £468m in this year's summer transfer window, although spending for the Big Four clubs - Chelsea, Arsenal, United and Liverpool - was down 27 per cent. According to KPMG's newly-launched Football Transfer Barometer, Big Four spending fell to £101m while other teams drove their spending up from £293m to £367m. Geoff Mesher, head of KPMG Forensic's sports disputes team, said: "We are seeing a new situation where it is not just one heavily cash-backed club that will pay top prices but a number of clubs competing for the very best. There is no sign of the credit crunch here."
New programme to boost food and drink sector
Secondary schools and employers in the North West's £6.6bn food and drink manufacturing industry are being encouraged to form stronger links through a work-experience teaching programme launched by Improve, the industry's skills council. The Food and Drink Schools Challenge is a free teaching programme that introduces pupils to the world of food and drink manufacturing. It also aims to help employers make an early contribution to tackling its growing recruitment problem because of higher technology demanding higher skills.
Fertile ground for Peppermint
Hale-based Peppermint PR has been appointed Manchester Fertility Services to handle its marketing communications. Manchester Fertility Services is one of the most successful IVF centres in the UK. Founded by fertility expert Professor Brian Lieberman in 1986, it has led to the birth of over 3,000 babies and is the first fully-funded NHS IVF unit in the country. Peppermint's other healthcare clients include Diagnostic Healthcare and The Genesis appeal.
Heath appointed to InfoUK
InfoUK, the Manchester-based business-to-business (B2B) sales leads and business data provider, has added to its growing team with the appointment of Steve Heath as head of production and delivery. Heath, a former senior product analyst with Experian, will be responsible for managing and enhancing InfoUK's business-to-business data. He was one of the founding members of Experian's B2B Marketing division under the leadership of Richard Lloyd.
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Property
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New PZ Cussons HQ gets the go-ahead
Planning permission has been granted for the construction of soap manufacturer PZ Cussons' new 40,000 sq ft headquarters at Manchester Business Park. Building work is expected to start in November and the company expects to complete its relocation in early 2010. The planning application was submitted by Arlington Business Parks Partnership fund, which is managed by international property group Goodman. PZ Cussons said the decision to move from its current Stockport base was driven by the need for a more modern building.
RDAs face budget cut to fund HomeBuy scheme
Regional development agencies are facing the prospect of having to stump up a total of £300m from their budget over the next three years to fund HomeBuy Direct, part of the government's new package designed to rescue the housing market. The money will be used to fund a shared equity scheme aimed at helping first-time buyers onto the property ladder by offering them an equity loan of up to 30 per cent. The news has raised fears that this will divert resources away from other worthwhile schemes.
Stevens Scanlan expands team
Manchester-based property consultancy Stevens Scanlan has expanded its property management team in response to the depressing market conditions. The continuing credit squeeze and falling property prices have contributed to the growing amount of Law of Property Act Receivership work being undertaken by the company, resulting in the need to bolster numbers. Its property management team now stands at 28 staff and will move into extra office space the company has taken at its Mosley Street headquarters. The company now occupies 7,000 sq ft of space on two floors of the building.
Starwood goes West
American-owned hotel and leisure group Starwood Hotels & Resorts Worldwide has confirmed plans to open two of its W branded hotels in the UK, one of which will be located in Manchester city centre. The 160-room hotel, designed by Beetham Tower architect Ian Simpson, will have 7,000 sq ft of meeting and event space, a spa, gym, ballroom and restaurant. It will occupy a site on Princess Street, currently being developed by West Properties as part of its Origin scheme. Starwood's portfolio includes 23 upmarket W hotels, with 28 more set to open by 2010. Its other UK venture will be based in London's Leicester Square.
Straight to the Poynton
Stockport-based LKA Tubes has taken a 13,700 sq ft industrial unit on the Poynton Industrial Estate in the town. The company has agreed a five-year lease on the property at a rent equivalent to £55,000 per annum. Alex Smylie, senior surveyor at letting agency DTZ, said the deal was a significant letting for the south Manchester area and will allow LKA to expand its business.
New sustainable mosque by AEW
AEW, the Manchester-based architecture and design practice, has completed a new sustainable mosque for the Dawoodi Bohra Muslim Community in Levenshulme. The mosque, which is the second Dawoodi Bohra mosque in the UK, is administered by the Anjuman-e-Hamidi Trust and achieved a very good BREEAM result for its design. The sustainable materials used include reclaimed building materials of recycled teak and stone, as well as solar heating, rain water harvesting, underfloor heating and natural ventilation.
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