Liverpool high-performance magnetic sensor manufacturer Advanced Hall Sensors (AHS) has received a proof of market grant from the Northwest Regional Development Agency. The business, which spun out of the University of Manchester in 1998, has been awarded £19,646. It will use the cash to investigate which industries could benefit from its technology. AHS is one of four businesses in the North West that have been awarded a grant. Others include Manchester-based medication packaging distributor Protomed; Daresbury start-up business Teknisolar; and Cheshire silicon chip developer eoSemi. The grant was established to support innovative projects that have a solid commercial potential.

Merseyside plant hire specialist Speedy Hire today said it had been encouraged by the recent stable levels of trading but that it was “under no illusions that there remain many difficult months ahead”. The company posted a loss before tax of £22.8m for the year to 31 March, down from a restated loss of £71.1m a year earlier. Revenues fell 27.3 per cent to £351.1m. Chairman David Wallis said: “The short term focus will remain on cash generation, while running the business as efficiently as possible in a demanding market.” Speedy cut 317 jobs and closed 37 depots and 14 workshops during the year. It also secured 212 new or renewed contracts worth approximately £170m, while today it announced it has won new deals with Spice and Wilmott Dixon Group worth £6m per year.

Stobart Group yesterday started its £25m a year distribution contract with supermarket giant Tesco with the arrival of the first goods at its new 528,000 sq ft chilled distribution centre in Widnes. The centre is part of the Mersey Multimodal Gateway, a brown-field site development undertaken by Stobart Group in partnership with Halton Borough Council. Steve O’Connor, managing director of Stobart Ports, said: “This week is a landmark in the development of this region as a whole. Ultimately this project will create 5,000 jobs in the region, and that is something we all know is well worth working for.”

The Liverpool Sound City festival gets underway today, featuring a host of music artists and conference speakers across the city. The four-day event also includes movie screenings, photography exhibitions, and question and answer sessions with leading industry figures. The festival’s conference, taking place at the Hilton and Hard Days Night hotels, is expected to attract more than 1,000 delegates. Speakers include US record label boss Seymour Stein.

Work has started on a £4m project to upgrade Hooton train station on the Wirral. The scheme is being carried out by J. Murphy & Sons for Network Rail, in partnership with Merseytravel and Merseyrail. It is being funded by the Department for Transport. The news comes after Liverpool lord mayor Mike Storey opened a new £15m maintenance facility at Wavertree’s Edge Hill rail depot. Network Rail’s investment will enable engineer Alstom to service eight high-speed Pendolino trains each night for operator Virgin, compared with five previously.

United Utilities has appointed Russ Houlden as its chief financial officer. He joins the Warrington-headquartered business from Telecom New Zealand where he has been chief financial officer for the past two years. Houlden has also held similar roles at law firm Lovells, British Telecom and ICI. Houlden said: “I am inheriting a strong balance sheet and a company that is well positioned for the 2010-15 regulatory period.”

Insider Membership gives you essential sales leads, competitor intelligence, business analysis and comment from your region. Give yourself that competitive edge by becoming an Insider Member today and get indispensable information and inspiration throughout 2010. Click here for the Membership package and order online today to stay ahead of the game. Alternatively, contact Michelle Ferster or call 0161 907 9701 for further information.

Bouwfonds European Real Estate Parking Fund has entered into a development agreement with Merepark and joint venture partner Ballymore to forward purchase a multi-storey car park at the Central Village scheme in Liverpool. The car park, due for completion in June 2011, includes 459 spaces and is to be operated by Q Park under a 35-year lease. Merepark, on behalf of Central Regeneration Limited Partnership, will retain the asset management of 2,200 sq ft of space below the car park. Savills and CBRE are the letting agents, while Danesborough Properties and Linklaters advised Bouwfonds, Savills and Montague Evans, and DLA Piper advised Merepark and Ballymore.

"Hallelujah," says Insider property writer Neil Tague in his latest blog. HSBC’s North West corporate banking operation has signed a £24m funding agreement with Neptune for the New Brighton scheme. Is this a sign that banks are dusting the cobwebs off their collective purse and ready to start investing in schemes? Or is it simply a false dawn with developers facing tight margins for some time to come? Find out where Neil believes the future lies for property investment by reading this week's Tague on Tour.

Liverpool FC have exercised an option to take further space at Rumford Investments’ 20 Chapel Street in Liverpool. The football club have taken two floors at the building, adding to the floor it took in January. The deal brings the total floorspace occupied by Liverpool FC to almost 30,000 sq ft. Rumford Investments’ William Coleman said: “Despite current economic conditions 20 Chapel Street is filling up fast which affirms our belief that the building is Liverpool’s premier office location.”