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Liverpool holds the key to China, says Shanghai team
As confidence begins to return to the global financial markets today, the executive director of the Liverpool Shanghai Partnership (LSP) has claimed the city's relationship with China is pivotal to the future of the UK economy. As the only UK city to be twinned with Shanghai, Liverpool is in "pole position to forge closer links with China", said Dr Kerry Brown, a senior Asia fellow at think tank Chatham House. "Liverpool has a unique and important network of contacts in Shanghai's political and business worlds. These contacts are now much more important as we look to China for economic help." The International Monetary Fund has predicted that emerging markets in China and Russia would be sitting on $6.5trn of foreign currency reserves by the end of 2009. With Liverpool the only UK city outside of London due to be present at the Shanghai Expo 2010, the North West must use the Expo to sell itself as a world-class business destination to the most powerful business and political leaders in China, said Brown.
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Deals
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Liverpool laser cutter acquired
Liverpool-based 5750 Components, which was established nearly 15 years ago as one of the first laser-cutting companies in the UK and employs 20 staff, has been acquired by Darwen-based engineering business WEC Group. WEC, which comprises five divisions specialising in fabrication engineering, has bought the company as a going concern to support its own laser division, Laser Engineering. 
Landround considers its future as dispute rages
Landround, the Chester-based reward programmes and promotions business, is considering selling off "some or all" of its businesses as it expects revenues and results for the second half of the year to be "significantly affected" by an ongoing dispute with one of its Buy & Fly customers. The board also expects the dispute to affect figures in the first half of the next year. Resulting pressure on the group's financing position means that it is now in discussions with its bankers at HSBC and is considering its long-term options, including disposals.
North West deals - down, but not out
The number of deals completed in the North West fell by 36.2 per cent in the third quarter of the year, down from 221 transactions in quarter two to 141. But data from financial information company Corpfin shows that the total deal value rose to £3.6bn, a 77.2 per cent increase and the region's best quarter so far this year, propped up by larger deals. There were seven deals worth over £100m (up from four in quarter two), with only the Co-operative Group's announced acquisition of Somerfield exceeding the £1bn mark at £1.57bn. The mid-cap market for deals between £10m and £100m saw both deal volume and value more than half.
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Business
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Look beyond the north, says Insider forum
The north of England needs to look much wider than its own front door to see a way out of the current economic downturn. Speaking at Insider’s first Northern Strategy Forum in Leeds this morning, Richard Lewney from Cambridge Econometrics charted a “bit of an upturn” in the economy in 2010, but Baron Frankal from The Commission for Economic Development, Employment and Skills, said the region would only recover if businesses recognised both the opportunities and challenges from emerging economies of the Far East. Felicity Goodey, chairman of Central Salford, agreed that the wider region is in danger of being too inward looking but warned against taking its eye off the ball. “There is an opportunity to put the infrastructure in place across the north to compete with emerging cities around the world,” she said. “But the big problem we have here is a high proportion of people of working age who are not working and that is down to health and education.”
Parkway makes its presence felt
Merseytravel's investment in the Liverpool South Parkway transport interchange is paying off. New figures show that the station, which links Liverpool John Lennon Airport with public transport routes, is being used by more than 26,000 passengers a week, compared to the 10,000 passengers that used the old Allerton and Garston stations. Bus operator Stagecoach has now extended one of its routes to the Parkway, while stops by national rail services will increase from December.
Sandwiches for Birkenhead
Sandwich franchise O'Briens has opened its third outlet in Merseyside with a new café at The Grange and Pyramids Shopping Centre in Birkenhead. The new outlet has been opened by franchise partners, John Irvin and Stephan Ashley of Parkridge, who have operated the Scottish master franchise for ten years. The Birkenhead store sees the business partners, who also operate the Castle Street outlet, expand in England, having been behind recent openings in Carlisle, Sheffield and Blackpool.
JJB mulls options while JD presses on
JJB Sports has told the stock market that it is reviewing the potential sale of "one or more" of its non-core assets and businesses, following reports that it is to sell off its successful chain of fitness clubs. Meanwhile, boisterous rival JD Sports has announced a £60m expansion plan for its Bank fashion chain, under which the group will expand from 50 to 65 stores by the end of 2009. But the British Retail Consortium's figures for September, released today, only show more gloom, with year-on-year sales down by 1.5 per cent amid the worst sales figures for six months. Only food and drink, boosted by inflation, showed sales values higher than a year ago.
Insider UK Investment Forum 2008
After the huge success of last year’s inaugural event, Insider is heading to London again next month for the Insider UK Investment Forum 2008. This year’s event is entitled How UK Cities Can Create Competitive Advantage and will feature an exclusive presentation by Prof Michael Parkinson on the impact of the credit crunch on UK regeneration projects. To be held over lunch at the Hotel Andaz in London on 7 November, the forum marks the launch of the UK Business Insider 2009 title, our guide to the UK regions, and will feature a panel including Chris Brown, chief executive of Igloo Regeneration and Ken Shuttleworth, director of Make architects. If you are interested in attending this event or would like further details please email helen.power@newsco.com.
Business activity slowing, says RBS
The North West's economic output dipped in September after two months of growth, according to the latest figures from The Royal Bank of Scotland's Purchasing Managers' Index. Although the region outperformed its rivals, job cuts were at their highest for five years, while the seasonally adjusted Business Activity Index fell from 54.2 to 47.6 per cent, the joint weakest reading since 1999. The bank's economist Philip McKinnon said: "Further slowing is likely. A drop in employment levels is likely to hit business and consumer sentiment in the region."
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Property
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Tesco goes for Toxteth
Tesco has submitted a planning application for a Tesco Extra "regeneration partnership" store in Park Road, Toxteth. Having had success with the scheme in areas such as Failsworth in Oldham, Tesco hopes to win approval for its plans by committing to providing training and more than 300 jobs for local people, with a specific emphasis on the long-term unemployed.
Ford on the board for Opus
Opus Land, the Yorkshire-based developer and investor backed by Palmer Capital Partners, has won planning consent for a car showroom in Sherdley Road, St Helens. The 1.5 acre site sits opposite Ravenhead Retail Park and has been pre-let to Ford as a replacement for its town centre dealership. Ford will pay £300,000 a year rental.
Goodman seals the deal
Big industrial deals have been few and far between in the North West this year, but Goodman has succeeded in completing a deal with German cardboard manufacturer Prowell for a 210,000 sq ft unit at Pioneer Park in Ellesmere Port. Prowell has taken a 15-year lease on the building in what looks likely to be the region's largest deal of the year.
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