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Top story
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Wayne Rooney links up with Ant and Dec
Sports agency Formation Group, whose clients include footballer Wayne Rooney, is to expand into talent management. Insider understands that the Hale Barns-based business is close to acquiring James Grant Media Group, a talent management company that represents Ant and Dec, Simon Cowell and Piers Morgan. In 2006 AIM-listed Formation sold its sports marketing arm to concentrate on talent management and investment services. Formation considered a bid for Manchester stockbroker WH Ireland.
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Freedom founder steps aside
Rupert Webb, the founder of Wilmslow-based Freedom Finance, is to step down as chief executive and look for overseas investment opportunities for the loan and mortgage broker. Webb, who set up the business in 1983, is succeeded by former Rothschild financier Tony Machin, who joined Freedom in 2000 as commercial director, following the acquisition of a 55 per cent stake in the business by JZI International. Webb, who retains his 40 per cent stake in Freedom Finance, will be deputy chairman. JZI principal, Jock Green Armitage, remains as group chairman. 
BAE staff get share bonus
BAE Systems has sought to boost morale in its workforce with a £41m payout in shares to its 97,500 staff, including its 15,000 workforce in the North West where the defence giant makes the Astute nuclear submarine, the Eurofighter, Nimrod, Hawk jets and Unmanned Air Vehicles.
Byotrol gets on a roll
Manchester-based Byotrol has been appointed by Marks & Spencer as an approved supplier of disinfectants in its food manufacturing supply chain, an appointment that Byotrol said would open up sales opportunities with suppliers like Northern Foods. The business has also secured its first order to supply HJ Heinz, in one of its facilities in Cumbria, while its agricultural arm has secured a contract with producer The Active Group that could bring in £1m a year.
LSB invoice arm open to offers
Manchester-based London Scottish Bank (LSB) has this week confirmed that it would consider selling its invoice factoring business and closing or selling its consumer lending operation to concentrate on debt collection. It has scrapped its dividend after reporting losses of £15.7m in a financial year racked by soaring bad debt among its low-income consumer base. LSB has been in discussions with the Financial Services Authority for five months over its capital base and will issue an update at the annual meeting in April.
Bodycote posts record results
Macclesfield-based Bodycote International announced a 15 per cent rise in revenue and a 16 per cent rise in pre-tax profit yesterday and the engineering group is set for further growth in 2008 thanks to positive forecasts from its customers. Its preliminary results for 2007 showed robust demand in its key markets of aerospace, power generation and oil and gas and organic sales growth in its testing and thermal processing services.
The future's online for booming Littlewoods
Liverpool-based Littlewoods Shop Direct is nailing its colours firmly to the internet mast with anticipated online sales in the current financial year of over £500m. "We're launching over 700 new products a month and that will grow. There are 1,000 videos online today - we're the first UK retailer to do full-screen catwalk online," said Mark Newton-Jones, group chief executive. The group, which is owned by the famously reclusive Barclay brothers, has also set itself a new target to see 70 per cent of sales made online by 2011. A £15m celebrity-led advertising campaign has led to double-digit sales growth and Newton-Jones is bringing forward publication of the 2007/08 results, which are expected to show a levelling off of trading performance after years of decline.
A vision for Pendle
Today sees the launch of Pendle Vision, a group that aims to promote the economic wellbeing of the Lancashire borough and its surrounding area. Pendle Partnership, the borough's local strategic partnership, created the group, which is made up of key employers from various sectors. It is chaired by deputy lieutenant of Lancashire Dennis Mendoros, managing director of aerospace engineering business Euravia and former chairman of the Northwest Aerospace Alliance. The programme includes overseeing the Local Enterprise Group Initiative for Blackburn, Burnley, Hyndburn and Pendle, as well as the Nelson town centre masterplan.
Plans for regional creative hubs unveiled
The North West will be one of the first regions to benefit from a new pledge to boost the creative industries. The government has unveiled plans to develop new creative hubs in a green paper that outlines plans to help creative businesses thrive in the international market. New commitments include securing 5,000 apprenticeships by 2013 and the BBC at MediaCity, ITV Granada, Tate Liverpool and National Museums Liverpool are among the first organisations to sign up to offer high-quality training.
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Sterling deal in Knowsley
Sterling Colours, a Knowsley-based company that manufactures printing inks and coatings, is expanding with support from Merseyside Special Investment Fund (MSIF). The £3.6m-turnover company has secured a £240,000 funding package that includes £70,000 from MSIF's Small Firms Fund, £70,000 from NatWest and director's own investment. Sterling Colours was founded by managing director Paul Boulger in 1988 and is aiming for a turnover of £5m within the next two years.
To Infinity for slimming company
Infinity Asset Management, the Manchester-based private equity house, has clinched three investment deals in as many weeks, including a deal with Vitaline, a Manchester-based slimming company, which sees Infinity take a 75 per cent stake. The Infinity team says that its fast turnarounds are down to the fact the firm carries out its own due diligence. In January 2008 Infinity was instrumental in the establishment of a £100m property fund managed by Les Lang, who founded residential developer Abito, a subsidiary of Ask Developments.
Tangerine dream
Blackpool-based confectionery firm Tangerine has completed its £58m deal to buy Monkhill Confectionery from Cadbury Schweppes for £58m. The combined business will have a turnover approaching £150m and will employ more than 1,500 people.
JJB Soccerdome sale to speed up stores overhaul
Five-a-side football centres operator Powerleague is to take over the running of football pitches at JJB Sports' five Soccerdomes following a £17.4m deal. JJB chief executive Chris Ronnie said the deal fitted his strategy of "re-energising our retail offering". JJB will continue to operate the retail and health club operations linked to the sites, at the Trafford Centre, Wigan, Derby, Blackburn and North Shields and will become Powerleague's official retailer, giving it access to 120,000 weekly league players.
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Manchester outsourcing presentations heard
GVA Grimley is among the firms bidding to take over some of Manchester City Council's property operations. The local authority advertised its intention to look into outsourcing in the Official Journal of the European Union in September 2007 and was yesterday due to hear presentations from three candidates, which could include rival property consultancies and outsourcing specialists.
Liverpool looking good as Grosvenor unveils new offices
Consultancy Knight Frank this morning released its Liverpool market activity report, in which it predicts headline rents in the city to hit £23 in 2008, topping the £22 architecture firm Broadway Malyan agreed to pay at 20 Chapel Street late in 2007. The news comes as Grosvenor prepares to unveil three refurbished 19th century office buildings within its Liverpool One project tomorrow, bringing 35,000 sq ft of offices to the market.
Knowledge is king for Ask
Tameside Council has approved plans for K1 and K2, two blocks comprising 113 business suites at Ask Developments' £42m St Petersfield scheme in Ashton-under-Lyne. Around 7,000 sq ft of the total floorspace of 86,300 sq ft floorspace has been pre-let to Tameside College for an enterprise and training facility called Knowledge Mill. Ask has agreed a joint venture with Dylan Harvey to sell the workspaces, which Dylan Harvey will manage, situated over four floors, off-plan to investors.
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Vote now for your top Liverpool professional
Insider is gathering nominations for the Insider Liverpool Professionals Awards 2008, held in association with Professionaliverpool and DLA Piper on 15 May at the Crowne Plaza, Liverpool. Categories cover disciplines such as property, insurance, wealth management, marketing and young entrepreneur. There is also a lifetime achievement award. Please go to www.insider-nominations.co.uk to make your nomination.
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