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The latest survey from the CBI and PricewaterhouseCoopers has revealed the impact of the credit crunch has worsened over the past quarter, with profitability in the UK financial services industry falling at a record pace. The deals market could continue at its current slow pace for some time, as the Financial Services Survey showed that credit remained expensive and in short supply, with the gap between lending and borrowing rates widening more than at any time in the survey's history. Although the credit crunch has already been underway for around ten months, 91 per cent of businesses surveyed thought it will take more than six months for market conditions to return to normal. Ian McCafferty, chief economic adviser at the CBI, said: "Although credit markets have been somewhat calmer of late, the interbank lending system is still looking gummed up and spreads have widened more than at any time in the past 18 years." 
Lord of the Manor Cumbrian hotel Appleby Manor Country House has changed hands in a £1.5m deal, funded by The Royal Bank of Scotland. The 19th century property has been acquired by husband and wife team Mike and Angela Dunbobbin following the retirement of Mike's parents and major shareholders Ronnie and Marjorie Dunbobbin. Appleby Manor has 31 bedrooms and was named Small Hotel of the Year at the 2008 Cumbria Tourist Awards in April.
Surface Transforms, the Ellesmere Port-based manufacturer of carbon fibre reinforced ceramic composite materials for the rail, automotive and aerospace industries, has announced a four-year agreement to supply an unnamed global automotive brake system supplier. The directors believe the contract could generate extra revenues of £300,000 to £400,000 a year.
Smooth operator Liverpool's swish Metquarter has welcomed new tenant Smoothie Express, a smoothie and health drink outlet launched by entrepreneur Mark Paddock. The business has been helped by support group Dream High and Paddock hopes he will now be able to roll out the chain across Merseyside.
Losses widen at GEM Biofuels As worldwide debate over the growth in biofuels rages on, Isle of Man-based GEM Biofuels, a supplier of feedstock to the biodiesel industry, has announced losses of £980,000 for the year to 31 December 2007, down from £660,000 on last year. Revenue was £2.17m, up from £210,000. The company, which raised £3.5m when it floated on AIM in October 2007, has land use agreements in place for more than 1 million acres of oil-yielding Jatropha tree plantations in Madagascar and is confident the capital will enable it to "forge ahead with its business plan". In February 2008 it agreed a deal to supply 55 per cent of its crude Jatropha oil to Natural Fuel, starting in January 2009.
Keep on trucking Preston's Leyland Trucks has scooped two awards at the Manufacturing Excellence awards. The company, based in Farington Moss, won the IMechE Award for Best Financial Management and the Warwick Manufacturing Group Award for Logistics and Resource Efficiency at the ceremony held at London's Dorchester Hotel. Managing director Jim Summer said the accolades were testament to the "commitment and professionalism" of its 1,400 employees. Leyland Trucks is owned by US-based PACCAR and manufactures 27,500 DAF trucks per year.
Pub closures set to accelerate A report published by PricewaterhouseCoopers has made gloomy reading for publicans, forecasting that around 6,000 UK pubs may close in the next five years if they do not take definite steps to address the impact of the smoking ban and squeeze on consumer spend. A total of 1,400 pubs closed in 2007, double the number of closures for the previous year. The report said that the credit crunch, coupled with the failure of any home nation to qualify for Euro 2008, could spell the end for up to 2,000 pubs in 2008.
Nelson-based Barnfield Construction has said it hopes to have its Empire Business Park in Burnley operational by late summer. The plans at the site include a gastro pub, 35,000 sq ft of office suites, which have been bought by investor Dylan Harvey, and 226,100 sq ft of industrial units across 22 acres either side of Liverpool Road. Development director Mark Taylforth said: "Hopefully, the park will provide jobs for local people and we are getting some good demand from businesses for the units."
Wallace joins Knight Frank The Liverpool office of consultancy Knight Frank has appointed Andy Wallace as partner and head of the Liverpool residential land team. The firm said Wallace will concentrate on development opportunities throughout Merseyside, Lancashire, Cheshire and North Wales. He has joined Knight Frank from his own company, Wallace Cameron Associates, and previously worked at Chestertons.
Liverpool plays host to the annual British Council for Offices awards on Wednesday at the Crowne Plaza, at which the cream of UK corporate real estate will gather to celebrate the very best in office space. And hang around at the same venue for Thursday lunch time’s Merseyside Innovation Awards, which recognises and rewards innovation as a means of boosting growth and profitability. And later that evening, Lloyds TSB Corporate Markets will be celebrating the launch of its Liverpool large corporate team at the Radisson SAS.
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