Manchester has 'weathered the storm' - Sir Richard

Manchester has "weathered the storm" in 2010 and the council will continue to fund the city's investment agency MIDAS and promotional company Marketing Manchester. That's according to Manchester Council leader Sir Richard Leese, who told Insider the authority is also in discussions with the government about carrying on functions left by the demise of the Northwest Regional Development Agency to help businesses.

JJB in £31.5m fundraising

JJB Sports has announced details of a proposed £31.5m fundraising and has appointed a new chairman. The Wigan sportswear business also said Bank of Scotland has agreed to waive January covenant tests on its £25m revolving credit facility if the fundraising goes ahead, amid fears it would breach its covenants following "difficult" trading. JJB has turned to investors including Microsoft founder Bill Gates.

More private equity backed buyouts in North West

There were 17 private equity backed buyouts in the North West during 2010 worth a total of £1.5bn. That's according to research carried out by The Centre for Management Buy-out Research (CMBOR), which is sponsored by Ernst & Young and Barclays Private Equity.

Old Trafford row heats up over legal challenge

Derwent Holdings, the owner of the White City retail park in Old Trafford, has defended to Insider its bid for a judicial review over the local government secretary's decision to approve the redevelopment of Old Trafford cricket ground and surrounding areas in a scheme anchored by Tesco.

Fostering Solutions moves HQ

Bolton-based agency Fostering Solutions has relocated its head office. Manchester-based business River Street Investments has granted the lease of 11,000 sq ft of office space at 1 Merchants’ Place in the city.

North West can look ahead 'with confidence' - Hough

This year has been "challenging" for the private and public sectors in the North West yet businesses have remained "resilient". That's according to Robert Hough, the chairman of the Northwest Regional Development Agency, which itself faced the news it is set to be abolished.

Losses widen to £13.8m at Eatonfield

Cash-strapped property developer Eatonfield - owned by Secret Millionaire star Rob Lloyd - has reported widening losses of £13.8m for the year to 30 June, compared to its £4.4m loss in the previous year. The Tarporley-headquartered business, which last month said it had struck a deal with certain creditors to defer payment of outstanding invoices to a later date, also reported its net bank debt stood at £26.7m.

Steady progress at Cyprotex

Macclesfield-based pharmaceuticals business Cyprotex has reported "good, steady progress in trading" this morning. It says it expects its full-year results to be in line with market expectations.

Something for the weekend

Here comes the bribe; And the 'eggs in one basket' award goes to; Eyes on the pies; The heat is on

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It's taken two years, but the new £170m North West Fund is finally open for companies seeking investment. Michael Taylor asks what will make it a success.

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