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Top story
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Businesses feel energy squeeze
As Gordon Brown this morning announces a £910m package of measures agreed with energy companies to help people with rising bills, businesses said they are also feeling the pain. Maggie Mullan, partner at Austin-Smith:Lord Architects in Liverpool, said her firm is feeling the impact through rising tender prices. "We have particularly noticed this in steel prices with suppliers only fixing prices for a very short period because of exponential increases in energy costs," she said. "As a result, projects are either being halted or significantly reduced in size." Les Staniforth, corporate finance partner at accountancy DSG, said companies need to look at their energy needs and consider alternative suppliers. "Those with high energy usage would be advised to insist on add-on consultancy and energy audit services from their supplier as part of any deal," he said. Brown's package has disappointed the unions, who wanted a windfall tax on energy companies, and Richard Aldridge, managing director of Huyton-based Rapid Precision Engineering, said "The government has long lost control over the utilities in the UK. They are now owned and operated by multinational organisations and I'm afraid it's a case of the tail wagging the dog."
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Business
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Manufacturers set to debate their future
Despite ongoing gloomy predictions from industry bodies, many North West manufacturers remain in buoyant mood. Klarius, the Blackpool-headquartered manufacturer of exhaust and catalytic converters, has seen productivity and investment continue to rise. Business development director Paul Hannah said: “While the manufacturing industry is undoubtedly going through a difficult period, the demand for high-quality replacement parts is most assuredly in place.” Insider and manufacturers’ organisation EEF are hosting a breakfast summit in Blackburn on 23 October to discuss the future of manufacturing with speakers including: Klarius managing director Andrew Jones; Andrew Brian, managing director of Optare; and Phil Humphreys, director of supply chain strategy for Military Air Solutions, BAE. For further information on the event, please contact our events team on 0161 907 9723 or email helen.rangeley@newsco.com.
Region second in green grant table
The North West is in the top three regions in the UK for local and regional environmental funding initiatives, according to a new report by website Green Grants Machine. A survey of over 150 local and regional funding schemes found the region lies second with a total of 20 sources of funding to help businesses do their bit for the environment. The new findings come two months after Deloitte unveiled its first subnational report on the potential economic impact of failing to adapt to the climate change agenda. Dubbed the Mini-Stern report, the study indicated that the North West region could lose £72bn over the next 12 years if it does not act now to prepare for legislative and regulatory changes and take the lead with environmental specialisms.
Trinity Mirror cuts Wirral papers
Regional newspaper published Trinity Mirror has been reviewing its publishing portfolio and office network structure in the North West and North Wales, resulting in the closure of a number of papers and offices, including a reduction in the Wirral News Group editions, from six to four, and the relocation of staff to other offices. Some papers are being closed and relaunched as free titles, while others such as the free Midweek Advertiser in Ormskirk are closing altogether.
New leader for Cumbria
Cumbria County Council has named Labour councillor Stewart Young as its new leader following an acrimonious split between the former ruling alliance. Young replaces Conservative Tim Stoddard, who was removed in a vote of no confidence following a falling out between the Conservative and Liberal Democrat administration that has run the council since 2001. However, the county now has a minority Labour administration after the Conservatives and Liberal Democrats refused to join an all-party cabinet.
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Property
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Land Securities starts work in Liverpool
Property giant Land Securities has started work on the first phase of its investment in Liverpool across two of the city's shopping centres. The £2m refurbishment and extension of Clayton Square will be created by merging three stores, made available by the relocation of Zavvi and Game stores and the departure of JD Sports. A 24,000 sq ft JJB Sports superstore will take the new space. The Clayton Square investment precedes a wider £100m redevelopment of the St John's centre, which was approved in June.
Kingsway receives double boost
Rochdale Development Agency has made two appointments as it looks to develop and promote the Kingsway Business Park nationally. Keiron O'Neill has been promoted into the new role of investment and marketing director, while Glyn Pittendreigh joins from the Welsh Assembly Government as director of development at Kingsway.
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Deals
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Profits up at Tenon with more acquisitions in view
Business advisory firm Tenon has posted an underlying profit increase of 34 per cent to £17.6m for the year ending 30 June 2008, with turnover up 17 per cent to £160.3m. At a regional level turnover grwq 80 per cent to £28m, buoyed by three acquisitions. Managing director for the North West Martin Kirby told Insider he expects growth to continue in 2009, especially in recovery services, while the firm is also on the look out for more acquisitions. He said: “It’s going to be a hard year there’s no two ways about it, but the hard year just makes you focus. We’ve got a balanced portfolio and we’re still very busy across all areas of the business. We expect to continue growing organically, but we are acquisitive by nature so we are talking to people about future opportunities.”
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Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email:
nw@insiderdaily.co.uk
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