|
-
|
|
Top story
|
Business calls for tax cuts as pre-Budget report looms
As Chancellor Alistair Darling announced that the pre-Budget report will take place on 24 November, advisers in the North West were calling for a coherent and considered tax strategy and targeted help for businesses. “Small and larger businesses are both struggling in the current climate and the pre-Budget announcement should reflect this,” said Rachel Marsdin, associate director at the Lancaster office of accountancy and business advice firm Moore and Smalley. “A five-year hardship payment system should be introduced for those businesses that are in tax arrears and business corporation tax should be reduced back to 19 per cent for small businesses and 28 per cent level for larger businesses.” Meanwhile, Martin Long, partner in the commercial property department at Napthens solicitors, called for an increase in the threshold for stamp duty land tax, “or even an outright suspension until the market improves”. “The Government tends to ignore the commercial property sector in favour of residential, and it needs something to help kickstart that market again,” he said.
|
|
|
Deals
|
Insider Dealmakers Awards tonight
The wait is nearly over. Tonight Insider is holding its prestigious North West Dealmakers Awards. In preparation, you can still read the thoughts of Insider editor
Michael Taylor on the voting process and on who could win the
much-coveted Deal of the Year Award. As he says in this week’s online
deal column, In Focus: “You have to take a punt in this game.
Someone has put their balls on the line to back a deal, or at least to
get it over the line.” Click here
to find out more. And for those of you who are not lucky enough to have
a ticket for tonight's event, we will be sending out a special email tomorrow morning listing all the winners.
Ultimate move for Baty
The AIM-listed commercial finance operator Ultimate Finance Group has appointed Lee Baty as managing director for the north of England, based in Manchester. Baty joins from Bank of Scotland, where he was head of business development for Midlands and the north. Ultimate Finance yesterday reported that trading in the first four months of the financial year had been in line with management expectations.
|
|
Business
|
JJB appoints the dream team
Embattled sports retailer JJB Sports has launched a retail operations management team to take the business forward into 2009 on the front foot. The new division will be led by Phil Swaine, who has been with the company for ten years. Other appointments include: Paul Wooding, head of retail; John Hitchen, head of merchandising; Julian Dean, head of training and the company’s six regional managers. Swaine said: “Our commitment is to make JJB the number one sports retailer in the UK – it’s as simple as that.” Chief executive Chris Ronnie told Insider in October that his plans to turn the retail giant around remain on track, despite the tumble in share price that followed interim results showing heavy losses in September.
Wind farm collaboration
Doncaster-based UK Coal has joined forces with North West development giant Peel to develop wind farms on land in its portfolio. The agreement will see Peel Energy evaluate, at its own expense, 14 potential sites with the potential for 54 turbines generating 133 megawatts, or enough to power around 80,000 homes per year. Peel already has experience of operating wind farms and is also looking at the prospect of developing a tidal power scheme on the Mersey. Earlier this month, Peel built its stake in UK Coal to 28 per cent, fuelling yet more talk of a takeover.
Pilkington faces European fine
Pilkington, the St Helens-based glassmaker, is being fined €370m by the European Commission (EC) following investigation into a number of glass manufacturers in the European automotive sector relating to infringement of competition rules. Japanese parent company NSG announced in 2007 that it had made a provision of around £250m for this fine, which will now be updated, resulting in a loss of ¥8.9bn in its income statement for the second quarter of the year to 31 March 2009. NSG is examining the EC’s decision and will decide on future action, including a possible appeal. The EC’s statement said that between early 1998 and early 2003 four manufacturers – Asahi, Pilkington, Saint-Gobain and Soliver - discussed target prices, market sharing and customer allocation in a series of meetings and other contacts, in violation of the EC Treaty’s and the EEA Agreement’s ban on cartels and restrictive business practices.
Reeves moves across
Paul Reeves has taken the top job at Yorkshire Bank’s financial solutions centre in Wilmslow, which serves clients across Cheshire and Staffordshire. Reeves joins from a similar role serving Preston and Lancaster and was named managing partner of the year at the bank in 2007.
Roofing business expands into region
Jennings Roofing has announced an expansion into the North West just 12 months after its acquisition by £50m-turnover AIM-listed building services group Northern Bear. The opening of Jennings Roofing Manchester, a sister business to the £10m-turnover roofing business based in Leeds, brings the total number of operating businesses in the Northern Bear group to 13. The new operation will replace the firm’s satellite office established last year to test the North West regional market. Based on Pilsworth Industrial Estate in Bury, the new business already employs 26 staff and expects to grow to 35 in its first year, as well as using local subcontractors.
Value pitch for Glisten
AIM-listed snack and confectionary group Glisten, which has its main factory in Blackburn, has launched a range of value products in order to remain competitive in the current climate. Chairman Jeremy Hamer said: “These price-fighting products have already been listed by some retailers and will launch early in 2009. We are confident that Glisten is in the right place to weather the storm but market conditions across the consumer sector are difficult and demand levels are more volatile than usual.” Group sales for the first 18 weeks of the current financial year were 15 per cent up on 2007 at £24.3m and 5 per cent ahead on an adjusted like-for-like basis.
Friends Provident announces Manchester cuts
Financial services group Friends Provident has announced plans to combine its two Manchester head office sites into one location, which will involve a number of phased redundancies taking place over 2009. The group will vacate the Manchester Express Building by 31 December 2009, where 465 staff are based and jobs will transfer to the offices at 55 Spring Gardens or to other head office locations. The employees potentially affected by the redundancies are mainly in customer services, IT and other head office functions. Final numbers will not be known until the employee consultation period is complete.
The culture of celebrity
According to a new study by Bank of Scotland Corporate, 90 per cent of people in the North West business community believe that TV shows such as Dragons’ Den and high-profile entrepreneurs has a positive effect on entrepreneurship. The region recorded the highest figure in the UK. Tim Rigg, head of corporate banking in the North West, said: “The North West has a long history of producing successful entrepreneurs. At the same time, our region has always been multicultural, cosmopolitan, open to new ideas and willing to learn from the success of people across the country. We are prepared to listen to the ideas and successes of others and use them as we make our own way in the business world.”
New client for JMW
Manchester law firm JMW has been appointed to work for consumer health supplement review website Whatsinit.com on intellectual property and commercial matters. Preston-based Whatsinit.com provides analysis of health supplements, which enables subscribers to download test results.
Creative advisers with vision
Eleven media development professionals have been appointed by digital and creative industries body Northwest Vision and Media to nurture the next generation of creative talent. Working in conjunction with the regional screen agency, they will offer advice and expertise to anyone hoping to follow in their footsteps in the film, TV, radio or digital industries. “We’re incredibly fortunate in that we’ve been able to bring together a group of people with a huge and varied amount of professional experience, contacts and networks,” said Lynn Kelly, head of skills. “They will work on a freelance basis, acting as trainers, mentors and ambassadors of the region’s creative talent.”
On the move
Industrial products business The Reel and Shaft Handling Company has expanded into new premises in Bury. The company, which was awarded a research and development grant by the Northwest Regional Development Agency in 2005 to develop a product for the supermarket distribution industry, has leased a 2,500 sq ft unit at B&E Boys’ Atlantic Mill development in the town. Several major UK supermarkets are interested in the new product and prototypes are now being trialled.
|
|
Property
|
PCT takes space in Blackburn
A fund managed by commercial property investment firm Pinder Fry & Benjamin has let more than 5,000 sq ft of business park office space in Blackburn to Blackburn with Darwen primary care trust. The trust has taken a 5,265 sq ft stand alone unit at £12.50 per sq ft for two and a quarter years, at Arkwright Court, a 61,000 sq ft speculative office development at Blackburn Interchange in Darwen developed by Cheshire-based Gladman Developments.
People in green cars
Warrington-based fit-out, housing and maintenance company Morris & Spottiswood has introduced hybrid cars across its company car fleet in a bid to save energy. The cars will help to slash fuel costs by at least 20 per cent and the company is also introducing speed restrictors to all its 208 vans, which means they will now be only able to reach a speed of 68 mph, in a further attempt to save energy. These moves follow the decision to bring in environmental specialists from Enviros to help put together a sustainability strategy.
Back to school for Urban Vision
Salford based-Urban Vision has helped to deliver the interior design element of three new schools in the first phase of the Lancashire Building Schools for the Future Programme - the £29m Pendle Vale facility in Nelson, which brings together two existing schools under one roof; the £31m Burnley Campus; and the £20m Shuttleworth College in Padinham. Urban Vision is a joint venture company between Salford City Council, Capita Symonds and Morrison Highway Maintenance.
|
|
|
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 |
 |
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
