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Top story
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Businesses wary over new bank bailout
As the government this morning announced a second package of measures designed to bail out the banks and encourage them to start lending again, Liverpool’s business community was sceptical. “If these measures are successful it will fundamentally alter the financial and political landscape. Yet how can it be achieved?” asked Maggie Mullan, partner at Austin-Smith:Lord architects in Liverpool. “The uncertainty about what will happen if the implementation is not successfully adopted across all the clearing banks is of concern. From the perspective of the construction industry, we are suffering not only the drought in funding for development but also the fallout of overleveraging on development sites, rendering them near impossible to viably develop.” There was more cautious optimism this morning from Paul Rice, chief executive of the Liverpool Commercial District Partnership, who said: “This latest agreement has to be met with a cautious welcome. The reassuring aspect this time around is that the banks are tied to strict agreements over the amount they must lend – meaning it has a good chance of kickstarting the economy as banks are no longer able to simply absorb the benefits.” The list of measures includes a scheme to offer insurance against banks losing more money from the toxic debt.
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Deals
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In Focus – Manchester bids for Gatwick
At a time when there is little to cheer about in the M&A market, Insider editor Michael Taylor this week turns his attention to Manchester Airport Group’s bid for Gatwick Airport. “If Manchester wins, then it scuppers the argument that stated Manchester Airport has no place being owned by a group of local authorities, but it also raises the possibilities that the public ownership could be a progressive, dynamic and ambitious mode,” he says. To read more, visit In Focus here.
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Business
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Name change for Hurst in Liverpool
The Liverpool office of accountancy firm Hurst will been renamed Jackson UK LLP following a mutual decision for both firms to concentrate on their respective local markets. Partner Claire Jackson said: “This change will enable us to develop even closer links with our clients. We are continuing to build a partnership in Liverpool that is totally focused on the business needs of our clients and contacts. It is an exciting time for the team and we are looking forward to being part of the continued renaissance of the Liverpool city region in the years to come.” The two businesses have always been separate entities, with Hurst licensing the brand to the Liverpool office when it was set up in 1998. 
Growth at Scantec
Recruitment firm Scantec Personnel is aiming to become one of the UK’s top 50 recruitment companies following its most successful year. The Wirral-based company saw turnover surge from £52.3m in 2007 to £62.4m in 2008. Contracts in the defence, nuclear and power generation, as well as activity in the oil and gas and pharmaceutical sectors helped achieve this growth. Managing director John Robinson said the company is now aiming to grow turnover to £100m within five years from its offices in Birkenhead.
Travel on the green track
Merseytravel has become the UK’s passenger transport executive to achieve the Carbon Trust Standard. The organisation’s carbon footprint has dropped by 7 per cent since 2006. Neil Scales, chief executive and director general of Merseytravel, said: “With 2009 being Liverpool’s Year of the Environment there is no better time to have achieved this.” The Carbon Trust Standard requires Merseytravel to keep reducing its footprint and plans are being developed to further reduce the organisation’s impact on the environment.
Strong trading for Matalan
Matalan has become the latest discount retailer to weather the consumer spending downturn after posting strong trading results for the Christmas period. The Skelmersdale-based company, which owns 203 out-of-town stores across the UK, reported a 5.9 per cent rise in like-for-like sales in the five weeks to 4 January. Comparable sales in the 13 weeks to 3 January also rose by 3.4 per cent. Chief executive Alistair McGeorge said: “We are now in a position to grow the business and will be investing to do so despite the current economic environment.”
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Property
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Heritage event set for FACT
The Royal Institute of Chartered Surveyors (RICS) is urging construction professionals to attend Heritage Works – the use of heritage buildings in regeneration, an event that will take place at FACT in Liverpool on 25 February. The conference will concentrate on a report commissioned by English Heritage, RICS and the British Property Federation and developed by property consultancy Drivers Jonas. Discussions throughout the day will be led by professionals from Urban Splash, English Heritage, the Heritage Lottery Fund, Drivers Jonas and more.
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Events
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Dates for your diary
The events calendar is starting to fill up after a slow start. On Thursday Merseyside ACME is holding a free advice workshop for new creative businesses, delivered by business mentor and author of T-Shirts and Suits David Parrish. And on Friday the North West TUC is holding the official opening of its Orleans House office on Edmund Street, attended by TUC general secretary Brendan Barber and the Lord Mayor of Liverpool. Looking to next week, 29 January sees BBC Radio Merseyside presenter Roger Phillips chairing a panel of experts covering issues and opportunities for business in the current climate, at the next South Liverpool Business Network meeting, to be held at Partnership for Learning in Speke.
A toast to Obama
Liverpool restaurant and bar Alma de Cuba is celebrating the inauguration of US president Barack Obama with the launch of a new cocktail, Viva Obama. The cocktail will be available tomorrow to mark the official start of Obama’s presidency. Viva Obama will be a mix of Santiago Blanco Rum, Jack Daniels Whiskey, fresh lemon juice, maple syrup, peach and cherry bitters and fresh mint leaves.
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Telephone: +44 (0)161 907 9711
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