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Top story
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Solid year for KPMG, but Hurst warns on public cuts
Accountancy firm KPMG's northern practice has reported annual revenue growth of 6.6 per cent in what chairman Jonathan Hurst has described as a "tough but solid" year for the company. Speaking to Insider, he paid tribute to the firm's 1,600 staff across its five offices in the North. However, he warned that the knock-on effect of public sector cuts would make life difficult for professional service firms in 2011.
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Deals
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General Physics continues consolidation drive
Stockport-headquartered General Physics UK, a subsidiary of American training and consulting business General Physics Corporation, has bought Plymouth training provider Academy of Training for an undisclosed sum. It’s the company’s second deal in the South West in the past month.
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£1.5m loan package for Optare
Blackburn-based Optare has entered into a loan facility agreement worth up to £1.5m with the parent company of one of its major shareholders. It is to be used to supply support for its ongoing operational and working capital requirements, the company said.
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Business
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Liverpool reveals London ‘embassy’ plans
Liverpool Council has this morning revealed further details of its plans to promote the city’s commercial and business offer to UK and overseas investors. The authority, determined to build on momentum created by the city’s presence at the World Expo 2010 in Shanghai, will open The Liverpool Embassy in London on 21 January 2011.
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Plastering business goes under
Lancashire-headquartered Supyk Plastering Systems has gone into administration with the loss of 14 jobs. The £6m-turnover business was founded by Peter Supyk in 1985 and had grown to become one of the largest plastering and drylining contractors in the North West.
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ANS buoyed by record order book
Scott Fletcher, the chairman of technology company ANS Group, has hailed the company’s “tremendous resolve” in a difficult market as it posted a 38 per cent increase in first-half pre-tax profits. He added that its order pipeline was the largest in its history.
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Something for the weekend
This week: Tellin' stories; that's not my name; Royle approval; don’t even mull it over; and canapé won’t pay.
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Insider doing business in Northern Ireland
Two new Insider events being launched in Belfast on 31 March 2011 with a Business of Finance conference and the inaugural Northern Ireland Dealmakers Awards dinner.
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Property
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ITV to join BBC at MediaCity
ITV has confirmed it has agreed terms with Peel Media to relocate its Manchester base to MediaCity in Salford Quays. The much-speculated move is expected to take place in 2012.
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Hollywood calling for DevSec
Property development and investment company Development Securities has acquired the Hollywood Park leisure site in Burnley for £4m, reflecting a net initial yield of 8.2 per cent.
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Wates joins Inspiral consortium in Oldham
The Inspiral consortium, which comprises of Regenter and Great Places, has announced that it has replaced collapsed housing contractor Rok with Wates Living Space.
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Other News
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Red tape and unpaid bills hit exporting businesses
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Sale Sharks launch Six Nations lunch
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