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Top story
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Downing calls for “world class” shared stadium
Liverpool property developer and Insider Property Personality of the Year George Downing has called for the city’s football clubs to explore the often-discussed but controversial shared stadium plan. Speaking at an Insider event at the Downing-owned Port of Liverpool Building, he said: “As it stands, you could see both Liverpool and Everton ending up with reasonably okay stadia, but it makes financial sense to build one of true international quality – it could do so much to promote the city."
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Deals
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Rare pair of investors back SenseLogix
SenseLogix, a North Wales company which installs energy reducing technology, has won investment from an unusual combination of a US venture capital house and Newcastle-based investment fund. Beringea and North Star Equity Investment Partners invested £1m in SenseLogix, which is based in Conwy. The funding round included support from the Welsh Assembly Government linked to the creation of new jobs.
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Business
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ChoiceQuote set to restructure
Almost 70 jobs are at risk at Liverpool-based ChoiceQuote Insurance Services following a review of the business. The company’s owner GUK Broking Services is looking to transfer its personal lines and commercial motor insurance services to Altrincham-based sister business Carole Nash Insurance. It also plans to consolidate its commercial insurance portfolio into a single office in Glasgow.
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Knowsley Council braced for 400 job cuts
Up to 400 jobs are to be cut at Knowsley Council as the local authority bids to tackle a £30m budget shortfall. Ron Round, leader of Knowsley Council, blamed the government for “taking resources away from those who need it most”.
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Tata hails JLR performance
Tata Motors, the parent company of Jaguar Land Rover (JLR), said its subsidiary “continued to show strong profitability” during the second quarter of the year. JLR recorded a profit after tax of £238m in its results for the second quarter of its financial year.
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JJB sales 'lower than anticipated'
Wigan-based JJB Sports says like-for-like sales have been "lower than anticipated" despite a promotional drive. The company said it reflects a "weakening market environment".
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Bank of England "over-optimistic", says BCC
The Bank of England should keep open the possibility of adding to its quantitative easing programme and growth forecasts could be "over-optimistic". That's the view of David Kern, chief economist of the British Chambers of Commerce. He spoke after the bank forecast an inflation rise to about 3.5 per cent in the run-up to Christmas with it remaining at more than 3 per cent in the first half of 2011.
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New partner at PwC
PwC has appointed Toby Underwood as a partner in its Northern business recovery services team. For the past five years, Underwood has headed BDO business restructuring team in Leeds.
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UK-wide business contacts – Complete set of Top 500s
Insider have released a fantastic nationwide source of business contacts: The Complete set of Top 500 Companies 2010 Database. A comprehensive listing of the top contacts at the top companies for all available regions (North West, South West, Midlands, Yorkshire South East (exc. London) and Wales). Free sample and special offers available until 24 December.
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Property
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Merseyside’s £60m JESSICA fund gets green light
The European Investment Bank has confirmed that a consortium led by Igloo Regeneration has been selected as preferred bidder for Merseyside’s new £60m regeneration fund. The fund will start with £30m in public money allocated from the North West's share of the European Regional Development Fund (ERDF), as part of its Joint European Support for Sustainable Investment in City Areas (JESSICA) scheme.
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Matthews & Goodman sells Prescot site
Acting for Prysmian Cables & Systems, Matthews & Goodman has sold a 61-acre development site fronting the M57 near Prescot to James Industrial. The former manufacturing facility, once occupied by BICC Cables to produce copper wire and cable components, contains a range of buildings totalling more than 500,000 sq ft.
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Everton get Bellefield green light
Members of Liverpool City Council’s planning committee have approved the much-delayed plans to build on Everton FC’s former training ground in Liverpool.
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