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Top story
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It’s only a game, says Charlton
Liverpool last night bathed in sporting glory when the ACC Liverpool played host to the BBC Sports Personality of the Year awards, the biggest sports awards ceremony ever staged in the UK. Sir Bobby Charlton received a particularly warm reception in the city as he accepted a lifetime achievement award and was moved to thank the people of Liverpool. He was personally thanked for doing so after the event by Liverpool Chamber of Commerce chief executive Jack Stopforth, who told Insider: “He has sensed the rivalry between Liverpool and Manchester has been getting nasty again. He told me: ‘It’s only a game.’”
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Deals
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In Focus – what now for corporate finance?
In these gloomy times there are plenty of corporate financiers attempting to put a brave face on things. Bank lending may be harder to come by, but advisers are diversifying and channelling their resources into new and lucrative areas. In this week’s online In Focus column, Insider editor Michael Taylor observes how “advisory teams have attempted to reorientate their operations towards advising businesses on how to deal with their banks”. To read more about corporate finance’s new direction, visit In Focus online.
Le Frog jumps into new ownership
Struggling North West restaurant chain Le Frog, which was placed into administration in October, has been rescued in a management buyout. Paul Lilley, the founder and former chief executive of parent company Grill Group, has bought four of the brand’s five North West restaurants in a move that is likely to save around 80 jobs. Restaurants in Fullwood, Ormskirk, Wigan and St Helens will continue to operate under the Le Frog name. All of Le Frog’s seven Midlands restaurants were forced to cease trading in October and the Warrington restaurant has been closed.
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Business
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Energetix and E.ON power ahead
Chester-based energy technology developer Energetix has announced that its subsidiary Energetix Genlec is to collaborate with E.ON Engineering and an unnamed European appliance manufacturer to mass-market produce appliances for the European domestic heating market. Founded in 1997, Energetix specialises in the production of alternative energy technology and has worked with E.ON since January 2008 to develop a Genlec combined heat and power unit for UK homes.
Eagle-I on the right road
Runcorn-based Eagle-I Holdings expects to see strong sales growth and higher margins when it reports its results for the year to 30 November. In a trading statement announced to coincide with its financial year end, the vehicle positioning and fleet management technology company said that it had entered into significant agreements with AXA Assistance, HomeServe and Hitachi Capital Vehicle Solutions. The new contracts will provide the company with access to a pool of 75,000 vehicles over the next three years. Preliminary results are due in March.
More pressure on offshore accounts
A Liverpool tax investigation expert is warning that there could be a sharp increase in investigations by HM Revenue and Customs (HMRC) over offshore accounts. Des Veney of HW Chartered Accountants believes that following proposals by Europe’s tax authorities to breach the isolation of tax havens, companies and individuals can expect HMRC to target them. “We already know from press reports that HMRC opened enquiries into 12,000 offshore accounts and will proceed with a further 79,000 over the next two years, but this is just scratching the surface,” he said.
NWDA turns the tide
The Northwest Development Agency is to set up a new group dedicated to exploring the tidal energy potential of the region. The Northwest Tidal Energy Group will be launched at an event on Wednesday at Lancaster University and outline potential tidal projects in the region, including the Mersey, the Solway and Morecambe’s Bridge Across the Bay. The establishment of the group is the culmination of four years of work by the Lancaster University Renewable Energy Group.
On your bike
Wheelbase, one of the UK’s largest cycling retailers, looks to set achieve record sales figures, as the increasingly gloomy economic conditions force many people to seek cheaper transportation. The company, based in Staveley near Kendal, is on target to increase turnover by 25 per cent on last year. According to managing director Chris Herd, the current economic downturn, with rising fuel and transport costs, has started a renaissance in the cycling trade. A survey of 17,500 AA members carried out this year found that more than a third had made a conscious decision to start leaving their cars at home.
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Events
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Dates for your diary this week
The party season continues apace this week, with Midas Capital, Alliance Fund Managers, Hill Dickinson and Rensburgs among the firms to be celebrating the festive season in style in Liverpool. Watch out on Friday for Insider Daily’s canapé reports. And the Duke of Westminster is in town on Thursday for the grand opening of One Park West, Liverpool One’s big residential scheme, just in time for everyone to take up residence in time for Christmas.
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