|
 |
| Home | Products & Services | Shop | Subscriptions |
Simon Nixon, co-founder and 54 per cent shareholder of Moneysupermarket.com, yesterday rejected an initial takeover approach for the North Wales-based price comparison site by the Ontario Teachers' Pension Plan through its investment arm, Teachers' Private Capital. Teachers' is the largest single-profession pension plan in Canada, with C$108.5bn in net assets. Moneysupermarket.com continues to dominate its sector, despite challenging conditions in the loans and mortgages markets. Shares in Moneysupermarket.com soared 15.25 per cent yesterday and were still holding some of that gain this morning. Teachers has reserved the right to make another offer within the next six months. 
Reynolds joins RBS The Royal Bank of Scotland has expanded its Manchester-based corporate banking team with the appointment of Sam Reynolds as relationship director. He joins from the London-based leveraged finance team at HBOS Group where he was responsible for a portfolio of large private equity-backed deals. In his new role Reynolds will provide funding advice to businesses across Greater Manchester and Lancashire that have a turnover of between £25m and £75m.
Nathalie Bagnall is to step down as managing director of PR company MC2 into a non-executive role. "I've achieved what I came here to do," said Bagnall, who has introduced management systems, hired a finance manager and established healthcare and consumer teams to the agency's strong suit in professional services. "We're undergoing a strategic review of the business where Mike Perls is looking at potential acquisitions, the brands we have and the expansion of our design team," she said. Sarah Lindgreen, who was hired on a six-figure salary to head MC2's financial PR division is also leaving. Perls said: "Sarah has done an extraordinary job since launching the only financial PR offer led from outside London last year. She has advised clients on two IPOs and a placing, and five PLCs across the North currently retain us. She has also trained up a team at MC2 to provide financial PR advice to our clients. This year has been the ninth straight growth year for MC2 and will conclude in September with a 20 per cent growth in sales and a near doubling of the bottom line."
TIF group gathers high-profile members The United City group, which supports Manchester's Transport Innovation Fund bid, has secured the support of PZ Cussons, the Stockport manufacturer that recently signed for a new headquarters at Manchester Business Park, following a city council a joint venture with developer Goodman. The Central Manchester and Manchester Children's University Hospitals NHS Trust, which earlier this year joined the council and others in the Manchester City South partnership, has also signed up to the group, taking membership to 83.
Group revenue down at JJB, but health clubs grow Wigan-based JJB Sports this morning issued a trading update ahead of today's AGM that shows group like-for-like revenue down 1.2 per cent for the 12 weeks to 20 July compared with the same period last year. While the retail stores reported a 2 per cent drop in sales, JJB's health clubs are storming ahead with a 5.9 per cent increase and have only been slightly affected by the current economic climate. The JJB board is still wary of the retail outlook for the rest of the year, despite fit-outs at selected sites producing sales growth and staff engaging in an extensive training programme.
CMS Group invests £500,000 in Manchester IT services provider,CMS Group has invested £500,000 in opening a new data centre and IT infrastructure support centre at Birley Fields in Manchester. The company, which has offices in Blackburn and London, provides back-up to a wide range of businesses. The new site at Turing House will host servers for business software applications, email and internet services.
Double award win for A-Plant Warrington-based hire company A-Plant is celebrating after a double award win at the National Business Awards North West Regional Finals 2008. The business, which has around 200 depots across the UK, scooped the CMI Customer Focus Award for the third year running and also won the 3i Growth Strategy of the Year Award. It will now go through to the national finals in London in November.
Epistem to test radiation drugs Epistem, the biotechnology and research company based in Manchester, has been selected by Humanetics Corporation of Minnesota to provide specialised preclinical testing services for drugs that could be used to protect intestinal tissue against radiation damage. The contract comes after Humanetics was asked by the US Department of Defense to investigate new drugs that could taken by the armed forces where there is risk of radiation exposure or nuclear attack.
Dragon slayer to speak at business show Bolton businessman Imran Hakim is set to help other budding entrepreneurs after the iTeddy founder agreed to speak at the Business Show 2008, to be held on 23 October at Bolton Arena. The multi-award winner will also sit on a panel where local entrepreneurs will have the chance to pitch their ideas to potential investors. Hakim secured a £140,000 investment on BBC2 programme Dragons’ Den to launch his interactive iTeddy invention, which went on to become Argos’ second best-selling toy in 2007.
Commercial property agency Edwards & Co has secured a new tenant to take over the existing lease of Univar at Cheadle Royal Business Park. Technology company Virtensys has agreed to occupy 8,769 sq ft on the second floor of the Lakeside 5500 building at £18 per sq ft. Univar, meanwhile, has relocated to group premises at Stanley Green Trading Estate in Handforth, Cheshire.
Action needed to save rural economies Rural communities need a fundamental shake-up of planning and affordable housing policy, according to the findings of a government report. As the US House of Representatives passes a housing rescue bill that could help struggling homeowners get cheaper loans, the Living Working Countryside report finds that the high cost of homes coupled with the low wages of rural workers are creating unsustainable pressures. It recommends community-led affordable housing initiatives and new planning policies to shift growth into creating neighbourhoods with shops and facilities and village businesses. James Rowlands of the Royal Institution of Chartered Surveyors, said: "This must be followed through with real action from the government to stop the countryside becoming a quaint museum to be enjoyed at weekends by wealthy commuters."
Letting secured at £15m development Manchester-based developer Property Alliance Group has sealed its largest letting of the year to MAN Truck & Bus UK, which will take a total of 68,000 sq ft of space at its recently acquired Trafford Park Bakery site in Manchester. Planning has been granted for a £15m design-and-build development at the site to provide a 48,000 sq ft manufacturing workshop and 20,000 sq ft office building for pre-delivery vehicle inspections. MAN will take the scheme on a 22-year lease once work has been completed by contractor Russells Construction.
|
Subscribe or Unsubscribe To subscribe or unsubscribe to the eBulletin, click here.
|
| © Copyright 2008 Newsco Insider Limited | Privacy Policy |
|
Newsco Insider Limited - Registered in England and Wales with Number 02709518. Registered Office: Boulton House, 17-21 Chorlton Street, Manchester. M1 3HY |