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Top story
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US airlines buoyed by Manchester passion
The three-man Manchester delegation comprising inward investment chief Colin Sinclair, Marketing Manchester chief executive Andrew Stokes and Manchester Airport managing director Andrew Cornish has returned from a mission to the US to build relationships with the five US airlines currently serving the city. Sinclair told Insider: “BA are cutting routes, but there’s no point worrying about that. Our future lies in convincing the US carriers and the likes of Etihad and Emirates that we have the vision and ability to deliver.” Stokes added: “We are the only city to do this and they recognise the strength of the Manchester offer.” Sinclair also visited the US banks that form a key part of his long-term strategy. He said: “Manchester is on the map for them, but no bank will make real estate decisions right now.”
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Today's news
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Manchester's green push gathers pace
“Manchester has the potential to become a world leader in sustainability,” Mike Dinsdale, director of communications at Brother UK told Insider at yesterdays Sustainable UK Cities event at Manchester’s new Crowne Plaza hotel. The event examined how new energy innovation talent can be nurtured in the city. James Smith, chairman of Shell UK said: “We need to support new business ideas for energy innovation, given Manchester’s entrepreneurial history I’m sure there’s plenty of scope here.” The event also saw the announcement of the new public-private Manchester Climate Change Foundation.
Don't target the successful, warns industry
Professionals and businesses across the region are calling on banks to take more of a long-term view on the financial crisis and continue their support for the good businesses in their portfolios. There is growing concern that capital constrained lenders are targeting fundamentally sound businesses to get their money out as quickly as possible. Mark Senior, M&A partner at Ernst & Young, told an Insider round table this week: "I was talking to a company the other day that makes more than £10m profit and hasn't breached any covenants but the bank is trying to get its debt back."
Universities to collaborate on new drug safety centre
The Universities of Liverpool and Manchester have been awarded a £3.7m grant from the Medical Research Council to collaborate on a new centre aimed at reducing the risks of adverse drug effects. The Centre for Drug Safety Science will be based at the University of Liverpool's School of Biomedical Sciences and will see scientists work with leading pharmaceutical companies to investigate how to improve the design, tailoring and selection of drugs. AstraZeneca, Novartis, Pfizer, Merck and the Association of the British Pharmaceutical Industry are also supporting the centre which is expected to open later this month.
Vision buys again
Vision Developments, the new vehicle headed by ex-Ask Developments man Stephen Cliff and backed by Irish investor Morgan Leahy, has bought Invicta House in the Spinningfields area of Manchester from Maple Grove Developments for an undisclosed sum. Other Vision projects include Manchester's Barton Arcade and Vetro in Liverpool.
Warbies leads the way
Bolton-based baker Warnburtons heads the North West names in this year’s Sunday Times HSBC Top Track 250, the list ranks the top 250 privately held UK businesses by sales. Warburtons, which continues to open new depots as it becomes a fully national business, was ranked 25th in the list. Other North West high fliers include outsourcing business Vertex, Four Seasons Health Care, Carcraft, Bargain Booze and Pets at Home.
Digital industry weathering downturn
Greater Manchester's digital sector has remained robust despite the economic downturn, according to independent trade association Manchester Digital. Following a survey of 200 companies in the region, the organisation found that business confidence remains high with 66 per cent of those surveyed indicating they expected their company to expand over the next 12 months. The results form the first phase of a three-part survey into the digital sector as part of a longer-term project to size and profile the region's digital sector.
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Something for the weekend
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Deal of the week
As companies continue to review their activities in the face of tighter economic circumstances, Begbies Traynor sold Manchester-based technology company Servisional this week. So it's good to see that the company, which provides software and services to small companies, has been acquired by its management team. Paul Stringer, corporate finance partner at Cowgill Holloway, who advised on the deal, said: "The transaction satisfies the aspirations of the vendors, as well as ensuring that the management team has acquired a business well positioned to achieve its long term goals."
Obligatory âstuff the banks' quote of the week
Ex-Burnley FC chief executive Dave Edmundson, now chief executive of the Football League Trust, supporting Andy Worthington, chairman of the North West Steering Group for the 2012 Games in his call to allow the North West to use Olympic branding: "One of the Games sponsors is Lloyds TSB. As we taxpayers have just helped Mr Brown buy a big part of the bank my view is to hell with it. We at the Trust have launched our own Football 2012 campaign and are sticking with it."
Frankly speaking
Frank McKenna, wearing his Downtown Preston hat rather than the Downtown Liverpool one, took up cudgels against Blackburn and Blackpool councils this week over their objections to Preston's Tithebarn retail scheme. Everyone's favourite Scouse-ish rabble rouser declared: "Do they really think that people from their towns don't already travel to Preston or the Trafford Centre or Liverpool? I think they need to get in the real world. Preston is Lancashire's city, whether Blackpool or Blackburn like it or not."
Bats the way I like it
Spare a thought for Phil Cusack, regional director of Faber Maunsell and excellent chairman of the Greater Manchester Chamber of Commerce's building and development section. Addressing a packed Hilton ballroom at the annual awards dinner this week, Cusack ran through the raffle prizes, which surprisingly included "a cricket bat signed by Lancashire County Council. Sorry, Cricket Club." If the council does have a team, they may well have fared better than "the Lightning" in this year's Twenty20 Cup.
Canapé won't pay
Well done Stride Treglown Chapman Robinson, Carey Jones and Denton Corker Marshall, but in a week chockfull with architects' beanfeasts, BDP emerged triumphant with a non-stop whirlwind of tucker including fish and chips wrapped in the FT - for the share price-conscious snacker. And an honourable mention goes to planning bods Turley Associates for last night's bash at Cloud 23, complete with terrifying magician.
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