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Top story
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RBS to triple Manchester investment banking operation
The Royal Bank of Scotland is set to triple the size of its investment banking operation in Manchester as it continues to move jobs away from London and realign its cost base, according to chief executive Stephen Hester. Speaking to Insider in Manchester he said the city offered good opportunities for expansion at a time when efficiency was the watchword for future operations. The news comes as inward investment agency MIDAS revealed plans to secure 3,000 new jobs for the city in the coming year.
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Deals
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LDC backs MusicMagpie.co.uk flight
Private equity firm LDC has taken a stake in Macclesfield-based MusicMagpie.co.uk, the online purchaser and retailer of CDs, DVDs and games set up by former MusicZone managing director Steve Oliver.
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Boss deal for printing business
Bolton printing company Boss Direct has bought rival JM Roberts Print in a deal funded by Yorkshire Bank. It secured £450,000 to complete the purchase.
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Setgo eyes social network growth
Liverpool software developer Setgo has secured a funding boost to expand its presence in the burgeoning online ‘virtual goods’ market, worth an estimated $6bn (£3.7bn) worldwide. The company makes games and technology for social networks, such as Facebook and Hi5.
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Business
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Blackburn and Burnley set to join Lancashire LEP
Discussions to include parts of Blackburn and Burnley in a pan-Lancashire local enterprise partnership (LEP) are now at an advanced stage, Insider understands.
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B&M Retail leads profits charge
Liverpool discount retailer B&M Retail has topped the list of North West companies with the fastest-growing profits for a second year running, according to the annual Sunday Times PwC Profit Track 100. Eight businesses in the region made the list.
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Mechan engineers annual growth
Safety switch manufacturer Mechan Controls has posted a 20 per cent jump in profits for its last financial year. It predicted it will achieve double digit earnings growth in 2011.
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Something for the weekend
This week: Not ducking the issue; punting on bunting; the £50 challenge; and play that funky music.
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Gain new business contacts…
Insider’s North West Top 500 2011 database is our accurate and comprehensive business marketing list, providing you with the strongest contacts for the region’s biggest companies. Order now and receive a 30 per cent discount or request a free sample now (offer expires 30 June).
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Property
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Seven NWDA sites to hit the market
Seven property assets owned by the Northwest Regional Development Agency (NWDA) are to be sold on the open market under plans announced by the government. They are the first in a series of sites set to be sold off.
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Nash digs deep as Chets tops out
Carole Nash, the specialist motorbike insurance operator who sold out to Groupama in 2006, was yesterday named as the latest high profile backer of the new £36m school building at Chetham’s School of Music in Manchester.
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Work starts on Ronald McDonald House
AEW Architects and Pochin Construction have started work on the new £7.5m Ronald McDonald House at the Royal Manchester Children’s Hospital, on behalf of Ronald McDonald House Charities UK.
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Other News
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Future ProManchester names innovation winners
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Philip Green joins Carillion
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All-In-One acquires Hills Garden Centre
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