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Top Story
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Insider’s Property Week starts here
How can the North West property industry bounce back from recession in the best possible shape? Insider’s Property Week, a week-long programme of property events, kicks off today. You can read all about what’s happening in the programme leading up to Thursday night’s Property Awards in a special Tague on Tour blog and follow events through the week at twitter.com/Insidernwest with the hashtag #insiderproperty. There’s a strong Merseyside flavour to the shortlists ahead of the awards, with Austin Smith Lord, Downing and Widnes Regeneration all in the running. The full shortlists can be found here. As well as the awards, Insider will be hosting the North West Business of Property Conference 2010, the Invest in North Staffordshire Breakfast and the Life After PFI Breakfast.
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Deals
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UU continues non-core sell off
United Utilities (UU) is to sell its principal non-regulated water interests in the UK and Europe to Veolia Water in a deal worth £174.2m. Veolia will pay £108.6m in cash with the remainder accounted for by £65.6m in net debt assumed by the purchaser. A further £10m in cash is payable on a deferred basis. The deal continues Warrington-headquartered UU’s strategy of selling non-core assets following sales of Australian and Philippines-based subsidiaries. Click here for Insider comment.
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Ultimate Products buys order book
Sourcing and design business Ultimate Products has bought the small domestic appliance business and order book of Warrington-based Appliance365. The Oldham-based company has also brought in Guy Weaver, the former chief executive of Appliance365, as sales director for its small domestic appliance division. The division supplies kettles, toasters, slow cookers, food processors and other electrical products to major retailers. In March, Ultimate Products bought the luggage and small leather goods divisions of Japinda Group in a bid to increase its turnover to £100m.
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Business
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Vauxhall waits on loan guarantee
Vauxhall expects to hear this week whether it will receive a £270m loan guarantee promised by the former government. The loan would safeguard the car maker’s future in the UK at its plants in Ellesmere Port and Luton. Vauxhall’s loan was announced in April, but has been under review since the new coalition government took charge. The Sunday Telegraph yesterday reported that Vince Cable is set to be named as co-chairman of the UK's Automotive Council, boosting hopes that state aid for Vauxhall will be forthcoming.
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LSTM named WHO collaborating centre
The Liverpool School of Tropical Medicine (LSTM) has been designated as a World Health Organisation (WHO) collaborating centre for evidence synthesis for infectious and tropical diseases. LSTM will support WHO in developing recommendations for healthcare policy, guidelines for the management of infectious diseases, organising training in research methods and assisting in the communication of research results to policy makers, clinicians, teachers and the public in developing countries. The LSTM is also a WHO collaborating centre for the prevention of deafness and hearing impairment.
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Leaders call for NWDA to be saved
Leaders from local councils and authorities in the North West have written to business secretary Vince Cable and communities secretary Eric Pickles urging the government to recognise the importance of the Northwest Regional Development Agency (NWDA). The letters, backed by the board of 4NW, said a regional economic development body is “essential” to drive private sector growth, create jobs, support industry and build export opportunities. Last month Cable said he would not be “wielding the axe” to the NWDA, but confirmed it would be slimmed down.
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Expansion slows in North West according to latest PMIs
Business conditions in the North West private sector continued to improve in May, with output and new work rising at faster rates than the UK average, according to the latest Purchasing Managers’ Index. However, the rate of growth eased for the third month running to 58.8, down from 59.8 in April. Employment numbers also dropped fractionally for the first time in six months. In addition input cost inflation accelerated to its steepest since September 2008, which firms mostly linked to higher fuel and raw material prices.
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Honours for transport and logistic industry
Stagecoach Merseyside has won the industry best practice award at the annual Chartered Institute of Logistics and Transport awards. The awards, held at Cranage Hall Hotel in Cheshire last Friday, also honoured Arriva Northwest in the environmental improvement category. Stobart Group’s David Irlam won the lifetime achievement award.
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Property
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Inner City recruits and promotes
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Events
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Dates for your diary this week
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Contact Us
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Office Address: Insider News, 8th Floor, Boulton House,
17-21 Chorlton Street, Manchester, M1 3HY
Telephone: +44 (0)161 907 9711
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