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Top story
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Pre-Budget report “pathetic” says Co-op man
Chris Shearlock, environment manager at The Co-operative Group, this morning described the Pre-Budget Report as a “missed opportunity to give tax breaks to construct renewable energy programmes and low-carbon homes”. Speaking at Insider’s Green Crunch breakfast event, held this morning at the Ramada Piccadilly hotel in Manchester. Shearlock said: “The government has boasted that the Pre-Budget Report has provided a £500m stimulus to the green economy. The Co-operative is just a small bank and we’ve got a £400m fund, which frankly makes the government’s contribution look pathetic.”
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Today's news
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JD in place to make a move
JD Sports Fashion, the buoyant Bury-headquartered retailer, is reported to be considering a bid for rival JJB Sports. JD bought a strategic 10 per cent stake in the Wigan retailer earlier this week, while Sports Direct last month built up its JJB shares to 21 per cent. Executive chairman Peter Cowgill told Insider: “They’re a major player in our retail space and it gives us a seat at the table.”
Weightmans appointed by Arrow
The commercial recovery team at North West law firm Weightmans has been appointed by debt purchasing giant Arrow Global. Sales of consumer debts by financial institutions and utilities companies in Europe and Asia have fuelled Arrow’s growth and Jill Cox, head of commercial recoveries at Weightmans, is enthusiastic about the deal: "Arrow Global is an international player. By the end of the 2009-10 financial year I anticipate this and other potential contracts will lead to a 100 per cent increase in current turnover.”
Mond wins in IVA case
Chartered accountant and insolvency practitioner David Mond, Hodgsons Chartered Accountants and ClearDebt have received an apology and a substantial sum by way of damages and costs under the terms of a settlement reached on 21 November. Law firm Halliwells acted for the claimants, who had sued for libel, malicious falsehood and causing loss by unlawful means in respect of letters sent to their clients by an entity known as the IVA Council. The letters alleged that the claimants had repeatedly mis-sold Individual Voluntary Arrangements (IVAs) to their clients and were running an “IVA factory”.
Rattigan heads to Rochdale
Rochdale Development Agency (RDA) has a new director of physical regeneration in Pat Rattigan, who has left his role as assistant executive director for planning and economic development at Tameside Metropolitan Borough Council. Rattigan’s brief will be to attract investment into priority regeneration areas, including Rochdale, Heywood and Middleton town centres and those areas being improved with Housing Market Renewal support.
Conlon scoops two awards
Bamber Bridge-based Conlon Construction has scooped two national awards, including being named SME of the Year at this year’s Constructing Excellence awards. The company beat off strong competition in the small business category, an award for businesses with less than 250 employees, while it was also picked up the Investment in Workforce Training and Development award from the Federation of Master Builders (FMB). The FMB accolade recognised Conlon’s commitment to skills development, where each member of staff has at least seven days training each year.
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Something for the weekend
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Deal of the week
It has to be NCC Group, the Manchester-based IT security business, which made its third acquisition in less than two years in buying Surrey-based Next Generation Security Software for £10m. The business turned over £5.2m in the last financial year, a figure NCC says it can take above £6m in its first year as part of the group. That’s the spirit.
Tart tart
If it’s derby day at the City of Manchester Stadium, it must be time for a crazy foodstuff and the club’s executive chef John “Blue Ketchup” Benson-Smith is at it again. Hospitality diners at this weekend’s fixture will be able to feast on the Derby Tart, a canapé featuring only red and blue ingredients, including blue cheeses, red onion and Edam. Nice to see an inclusive approach, although there might be a few flying around the boxes should things get fiery on the pitch.
Talking up the product quote of the week
Professor Robert Young, head of the School of Materials at Manchester University, who, lest anyone underestimate the importance of getting the very best for the new range of Spiderman duvets it’s worked on with Cheshire licensing business Character World, said: “We’ve broken dimensional shackles to create dynamic imagery on textiles.” Blimey. Does the Nobel prize have a soft furnishings section?
Keep it clean and mean
Grim news from Sean Mitchell, a senior manager in the corporate tax team at Grant Thornton, who warns that the cut in VAT from 17.5 per cent to 15 per cent isn’t all it’s cracked up to be. Mitchell said: “If you spend, on average, £500-£600 over Christmas then you will save around £15. But anyone spending on petrol, alcohol or cigarettes will be no better off as these have all faced an increase in duty. The only people to benefit will be clean living individuals with no vices.” Damn.
Canapé won’t pay
The party season is here. A veritable rash of events were entered into with gusto around Manchester last night, with the Insider gold star for corporate scoff going to property consultancy Atisreal, who ever considerate of their hard-partying guests thought to top up the earlier snacks with a round of bacon butties at 10pm. Good efforts too from Drivers Jonas and Manchester Airport, while the Young Entrepreneurs in Property bash had the best cocktails. It’s a confusing time of year, so the chap from a rival surveyor who spent half an hour at Atisreal before suddenly asking “Oh, is this not the Cobbetts do then?” shall remain nameless.
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