Late summer could be an ideal time to buy businesses in distress - but companies should prepare now if they want to take advantage of opportunities, according to insolvency trade body R3. The organisation said there will be "plenty of bargains" around and could be an "ideal time" for acquisitions as values are expected to fall further. "The downturn will also bring with it opportunities," said Matt Dunham, the North West regional chairman of R3. "The recession is a good chance to build portfolios and buy assets at low prices. However, companies need to start planning now if they are to take full advantage."

Following the granting of planning permission at Lancashire County Cricket Club (LCCC) by Trafford Council, demolition work has begun in preparation of the first phase in a multimillion-pound investment scheme. Phase one includes a £12m self-contained conference and events facility and a £3m upgrade of the cricketing facilities. Earlier this week, the Northwest Regional Development Agency showed its support for LCCC's long-term vision of upgrading facilities to win back Test Match cricket, with a grant of £2.65m for the cricket and green elements involved in phase one of the redevelopment.

UK-based private bank Brown Shipley, which has an office in Manchester, has teamed up with business angel and entrepreneur network AngelNews. The move will see the two organisations work together to deliver advice and support in the areas of wealth protection and asset management. Brown Shipley will concentrate particularly on investment strategies to rebuild capital lost as a result of the credit crunch. Modwenna Rees-Mogg, chief executive of AngelNews, said: "Over the past 12 months we have seen many investors seriously affected by the credit crunch. During that time we have been planning this initiative with Brown Shipley."

Purveyor of interesting surveys - actually it's a free conference call provider - Powwownow has revealed that 54 per cent of UK PAs lie and make excuses for their boss on a regular basis to avoid unnecessary calls and meetings. A further 62 per cent of those surveyed confessed to rescuing their bosses from boring or irrelevant meetings by staging "emergency" interventions. Not much of a surprise but nice to have it confirmed in a survey. And, just in case we'd forgotten, Powwownow's press release reminded us about its Dirty Habits Survey, which found that one in three men had had a sexual thought about their work colleagues while in a meeting. Yes, we'd been trying to forget about that, thanks...