Peel Holdings and its consortium partners have dropped a £640m proposed bid for Forth Ports, the UK’s last independently listed port operator, blaming economic uncertainty. The Northstream consortium, which also includes fund manager Arcus and transportation infrastructure investor RREEF, had been given a deadline of 1 June to make a firm offer for the business after its third approach in late April was turned down. However, last night it confirmed that it would not be increasing its latest offer due to “the current economic uncertainty” and the difficulty of valuing Forth Ports’ property assets.

Byotrol and Cubic Motion are the latest companies to be awarded cash from the Northwest Regional Development Agency (NWDA) as part of the Grant for Research and Development scheme. Byotrol, based in Manchester, has been awarded £443,824 to develop a bio-medical product, while Daresbury-based animation company Cubic Motion has secured £100,000. It will use the funding to research new technology that would change how facial animation is created within the digital media industry. AIM-listed Byotrol also confirmed today that work and pensions secretary Iain Duncan Smith has resigned as a director.

Manchester City hopes for an increase of at least 15 per cent in its hospitality income next season after announcing an upgrade of all its corporate hospitality suites. The club made approximately £3m last season from hospitality and will this summer invest more than £1.5m in upgrading every box to the platinum level. The cost of boxes will go up by an average of 15 to 25 per cent. Sales manager Trevor Goddard said: “We’ve looked closely at the best of the rest and probably only Arsenal’s facilities come close. I’m confident that these boxes are the best money can buy.”

Manchester Airports Group (MAG) has this morning distanced itself from reports that Charles Cornish, managing director of business development and international operations at United Utilities, is set to takeover as its next chief executive. A spokesman told Insider: “The process of appointing a new chief executive is still ongoing and no appointment has been made.” MAG’s current chief executive Geoff Muirhead announced plans to retire in January.

The Manchester International Festival scooped two awards at the Manchester Tourism Awards 2010 last night, taking the Sustainable Tourism Award and the Tourism Event of the Year. Manchester Central won the Business Tourism Award, while the Radisson Edwardian won Large Hotel of the Year. Other winners included Chill Factore, Manchester Art Gallery and Band on the Wall. The awards were organised by Marketing Manchester and some of the winners will now compete in England's Northwest Tourism Awards later this year.

Safety switch manufacturer Mechan Controls is on the hunt for acquisitions after reporting a “quantum leap” in earnings for the year to 31 December. The Skelmersdale company, which makes electronic switches for machinery, posted a pre-tax profit of £421,400 for the period, up from £259,700 a year earlier. Revenues increased 13 per cent to £2.5m. Mechan bought Nirvana Engineering (Stafford) in 2008 and chairman Wilf Boardman said the company is now seeking further bolt-on acquisitions to boost sales.

A full line-up of speakers has been confirmed for Insider’s Invest in North Staffordshire Breakfast, to be held in Manchester’s Bridgewater Hall on 16 June 2010. The event gives Manchester businesses chance to learn about the opportunities investing in the region could provide. The confirmed speakers are: Catherine Raines, North Staffordshire Regeneration Partnership; Tony Neill, Navman Wireless; Mike Smith, Genr8 Developments; and Greg Pepper, Greenway Pepper. For more information email Helen Attrill or call 0161 907 9704.

The University of Salford will today launch The Energy House, the centrepiece of its new Energy Hub – a multi-disciplinary research centre drawing on the expertise of over 25 academics from 13 departments, and a centre of excellence for energy research in the UK. The house will be a traditional-style terraced house built inside a three-storey, sealed testing chamber. Once completed next spring, it will be subject to advanced energy experiments.

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Royal London Asset Management and joint venture partner, Property Alliance Group, has secured new tenant, WNS Assistance at its Hercules Office Park in Cheadle. Motor claims handling service provider WNS has acquired a 10,808 sq ft unit at the scheme, in the well-established Bird Hall Lane business area, close to Junction 2 of the M60. Joint acting agents for Hercules Office Park are WHR Property Consultants, Knight Frank and Berkeley Brown.

Greater Manchester Police’s new force headquarters has hosted a topping-out celebration following the completion of the building’s structure. Directors from Ask Goodman, developer of the Central Park area in east Manchester, joined senior police and partners on the rooftop of the new building to watch GMP Chief Constable Peter Fahy and Vice Chair of Greater Manchester Police Authority (GMPA) Gloria Oates, secure a golden bolt and sign the final piece of steel.

Hepplestone Fine Arts’ long–awaited move from the Carrington Centre in Eccleston to a new gallery at the Farmer's Market and Craft Centre on the Heskin Hall Estate at Heskin near Chorley has finally happened – yes, we’re pleased as well. The official opening ceremony will take place on 26 June and will be accompanied by the opening of an exhibition of works by Rolf Harris. It’s a chance to take advantage of an investment opportunity that probably beats most stock or property investments of recent times.

To Styal, for the first Insider XI cricket match of the season against a team from Wilmslow recruitment firm Leap 29. A reshuffled top order anchored by Laurence Kilgannon and South Africa’s Wayne Lord saw Insider off to a storming start as the team rattled up a whopping 169 for 3. A depleted Leap side were never in the hunt from the moment skipper Dan Butcher took a wicket with his second delivery. If Andrew Strauss needs some stronger opposition than Bangladesh, he knows where we are.

There was some stellar breakfasting on offer at Manchester City yesterday with smoked salmon bagels, fruit salad and – of course – bacon butties, while Cityco served up Scarlet Pimpernel cocktails, scones, cheeses and pork pies the Spring Market café. But the winner this week goes to PZ Cussons for the tucker at its office opening at Manchester Business Park. The stunning salmon with sherbet was almost as fizzy and sense-sational as the company’s Original Source Men XXX Black Mint Shower Gel. Try it – you’ll see what we mean.