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Top Story
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Moores “hugely regrets” selling Liverpool
The former chairman of Liverpool FC has admitted that he “hugely regrets” selling the club to current owners and called on George Gillett Jr and Tom Hicks to “stand aside” for the good of the club. David Moores, who reportedly made £89m from the sale of his 51 per cent in 2007, said the US businessmen “risk damaging a sporting institution of global renown” unless they allow new owners to take over. In a letter to The Times, Moores insisted he sold Liverpool in good faith but conceded that mistakes had been made in acting “in the best interests of the club”. Moores also revealed that he rejected a deal with former Manchester City owner Thaksin Shinawatra in 2004 – the former prime minister of Thailand who is now wanted on terrorism charges – and came close to selling to Dubai International Capital two years later. Hicks and Gillett bought the club from Moores in a deal worth £202m. The club currently has debt estimated at more than £394m including the £185m the pair borrowed to finance the takeover.
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Deals
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Aquarius reaches final close on new fund
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Business
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Lender reports success for short-term growth fund
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McKenna calls for agency review
Downtown Liverpool in Business chairman Frank McKenna has urged Liverpool City Council leader Joe Anderson to order an independent review of agencies involved in business support activity. McKenna said one of the “biggest bugbears” among the organisation’s members was the number of organisations that “continue to exist often duplicating rather than complementing the services they offer”. He added: “With the public sector facing huge budgetary challenges, now is a good time to further streamline the quangocracy of the city region.”
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Business groups welcome Queen’s Speech
The 22 Bills and one draft Bill outlined in yesterday’s Queen’s Speech have broadly been welcomed by business groups in the region. Measures include blocking the proposed increase in employers’ national insurance contributions and cutting the number of quangos to save £1bn a year. Dr Brian Sloan, head of business and economic policy at Greater Manchester Chamber of Commerce, said proposals to encourage low carbon energy production, investment in high-speed broadband and high-speed rail were important to ensure that the UK remains internationally competitive. The Forum of Private Business’ Jane Bennett added that the measures will go some way to getting the nation’s finances back on track without jeopardising recovery.
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Knowsley Chamber appoints new chief executive
Lesley Martin-Wright has been appointed as chief executive of the Knowsley Chamber of Commerce. She moves from her position as head of marketing and business development at Liverpool commercial law firm JST Lawyers to take the role. Martin-Wright said: “In these unprecedented turbulent economic times, there are many challenges ahead. However, the board views my appointment as the start of a period of transformation for the chamber.”
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Matalan to serve up tennis prizes
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Contract losses hit GB Group revenues
GB Group, a provider of identity management and marketing services, has hailed a year of “good progress” despite falling sales due to the loss of two major clients. The business, which is based in Chester, posted a pre-tax profit of £1.26m for the year to 31 March, down from £1.4m a year ago, while revenues fell 7 per cent to £22.2m. The loss of two contracts, including one with Blyk, one of its largest clients, resulted in a revenue reduction of approximately £2m. Chairman John Walker-Haworth said the company has started the year in “good shape” and has been trading in line with expectations.
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Property
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Galliford Try wins Orford contract
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Tague on Tour – Rock and roll star
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HCA cuts its cloth ahead of Emergency Budget
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