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Top story
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Thumbs up for city region plan
A multi-area agreement (MAA) covering the Liverpool city region has been confirmed by central government. The agreements enable groups of councils in an area to pool funding streams to spend on sub-regional priorities, effectively devolving some degree of power to direct spending on key areas including transport, skills, housing and planning. The Liverpool MAA will cover Liverpool, Knowsley, St Helens, Wirral, Sefton and Halton. Philip Rooney, managing partner of law firm DLA in Liverpool, told Insider: “This will enable the authorities to co-operate more easily in projecting the city region, which is the ‘unit of currency’ for global economic powerhouses such as Boston and Shanghai. It’s important that investors are presented with joined-up thinking accompanied by a collective ability to deliver across what can appear to be arbitrary boundaries.”
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Deals
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We’ve got nothing to hide, says private equity
The North West private equity industry this morning defended its position following a report stating that some of the firms which had signed up to a voluntary code of industry transparency were not complying. The Guidelines Monitoring Group, set up in 2007 to monitor industry alignment to the Walker Report, found that some of the 32 firms that had signed up had “more to do” to meet requirements. But Keven Parker, partner at 3i in Manchester told Insider: “We’ve got nothing to hide and, as an industry, have a good message to put across about the employment we create and what we bring to our investments. Even those unaffected by the Walker Report have all seen the importance of transparency. This is work in progress but the industry has moved forward.”
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Business
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Hill Dickinson to open in Singapore
Hill Dickinson is to open an office in Singapore in a move the North West law firm said would underpin its existing and increasing activities throughout the Asia Pacific region and will build upon the firm’s reputation for marine work, in particular. The expansion will be led by partner Tony Goldsmith, with further appointments of experienced lawyers to be made locally. Managing partner Peter Jackson said: “It is a bold step to open a new office in the current market and this demonstrates our commitment to invest in the firm’s future. Our presence in Singapore further reinforces the firm’s international connections.” 
Lewis’s fights road closure
Liverpool department store Lewis’s has reacted angrily to plans by United Utilities to close off Renshaw Street as part of works to replace water pipes in the area. The store came close to collapse due to decreasing footfall during the city’s Big Dig infrastructure improvements and was rescued by Vergo Retail. The company’s managing director David Thompson said: “We have spent the last 18 months rebuilding the business and now we could be pushed over the edge once again. It seems ridiculous that with all of the development plans for the future of this area in particular that works cannot be delayed to coincide with any other major disruption that is likely to occur then.”
Food supplier merges subsidiaries
Liverpool-based Real Good Food Company has announced plans to merge two of its subsidiary businesses as it looks to cut costs. The operations of its sugar division Napier Brown Foods will relocate from Wakefield in Yorkshire to the join with bakery ingredients supplier Renshaw in Liverpool, forming a new division to be called renshawnapier. The group said it expects the move will be “cash neutral” in 2009, but is then expected to produce an annual cost saving in the region of £800,000.
Stopforth looks for the positives
Liverpool Chamber of Commerce’s Quarterly Employers’ Survey for the final quarter of 2008 carries a predictably downbeat message, with over 50 per cent of respondents stating a worsening cashflow position. Almost two thirds of companies expect a fall in both sales and profits in 2009, while less than half expect to increase their sales prices in early 2010. However, Chamber chief executive Jack Stopforth said there are reasons to be positive. He said: “Although Liverpool is now undoubtedly being affected by national economic forces, we are fortunately no longer in the position of being the first to suffer when there has been a national downturn.
Airangel flies high
Airangel, the Warrington-based provider of branded guest internet services, has announced record growth, with a 302 per cent increase in sales in 2008. In October alone the company netted £100,000 of new business in multi-site contracts with Shire Hotels and De Vere, adding these names to a client roster that includes Radisson SAS, Malmaison as well as law firms including Halliwells and Eversheds. Having achieved turnover of £1m in 2008, the company has stated its target for 2009 as £2.5m.
Going round in circles
Liverpool-born entrepreneur Michael Welch has scooped a brace of awards at a national business competition judged by <Dragons’ Den> star Peter Jones. Welch, managing director of internet tyre retailer BlackCircles.com, saw his venture named as one of 20 winners at the BT Business Essence of the Entrepreneur awards, which celebrates the achievements of UK entrepreneurs who have succeeded with the help of technology. Welch, who runs the business from Scotland, also won the Most Outstanding Entrepreneur of the Year award and a £20,000 business grant.
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Property
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Hilton comes to LJLA
International hotel group Hilton is to open a Hampton by Hilton hotel at Liverpool John Lennon Airport. The opening of the group’s budget hotel brand is part of a £37m investment package by airport owner Peel Holdings that also includes the new multi-storey car park and a bridge from the hotel into the terminal building. Peter de la Perrelle, leisure director at Peel, suggested this could be the start of a long-term relationship. He said: “This will bring a quality hotel product to the airport. It is expected that this agreement will be the first of many with Hilton as Peel Holdings continues to develop its hotel estate.”
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