The new North West Fund announced yesterday has still not been formally approved by the European Investment Bank for its £67m contribution alongside the European Reconstruction and Development Fund. In his In Focus blog, Insider editor Michael Taylor asks whether this will make a difference as the new fund managers weigh up the challenges ahead. Click here for more.

Bibby Line, which operates out of Liverpool, has ordered a new Supramax Bulk Carrier ship. The vessel, being built in the Jinling shipyard in Nanjing, China, can carry 57,000 deadweight tonnes. Bibby expects delivery in March 2012. Furthermore, Bibby has revealed that it will buy more newly-built or second-hand ships to expand its fleet. Managing director Jebb Kitchen said tanker sales between 2005 and 2007 “made a lot of money” and the company will use this to expand its dry bulk fleet.

Warrington-headquartered United Utilities (UU) has today confirmed that Charlie Cornish, the managing director of its utility solutions division, is to leave the company to take over as the new chief executive of Manchester Airports Group (MAG). He replaces the outgoing Geoff Muirhead who is to become the new non-executive chairman of Ask Developments. Cornish’s departure follows the recent disposals of UU’s non-core assets. On Monday it announced it is to sell its principal non-regulated water interests in the UK and Europe to Veolia Water in a deal worth £174.2m.

Charles Stanley, the stockbroking and investment management company, has taken a 7,600 sq ft premises at 20 Chapel Street in central Liverpool with an option for further space. Fit-out is underway at the site, which will house the company’s 45 staff. This takes the total let space at 20 Chapel Street to almost 42,000 sq ft. Mason Owen, Hitchcock, Wright & Partners and DTZ are agents on the scheme. Other tenants include Liverpool FC, Barclays Corporate, Barclays Wealth, Bank of Ireland, Ernst & Young and Panmure Gordon.