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Top story
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Small business group hits out at LEP plans
The Federation of Small Businesses (FSB) has hit out at local authorities in the region for failing to involve business groups in talks to form local enterprise partnerships (LEPs). Paul Henly, the organisation's North West policy manager, said the LEP proposals due to be submitted to the government represented the public sector's voice, but not that of the private sector. He told Insider: "We support the principle of LEPs, but we can't support any of the bids because we've seen very little private sector involvement."
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Deals
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Deals market shows signs of recovery
The overall value of buyouts in the North West increased dramatically in the first half of 2010 to £1.47bn - more than three times the £434m achieved in the whole of 2009, according to new figures released today. However, the value was skewed by the £955m secondary buyout of Cheshire retailer Pets At Home in March.
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Business
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Somerset looks at nuclear-themed LEP with Cumbria
Somerset council has talked to local authorities in Cumbria and Suffolk about the possibility of creating a "thematic" Local Enterprise Partnership (LEP) focused on the regions’ shared reliance on the nuclear industry.
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BCC raises growth expectations
The British Chambers of Commerce (BCC) has raised expectations for UK GDP growth to 1.7 per cent this year and 2.2 per cent for 2011. However, despite the more positive short-term view, the business group has predicted that pace of growth will slow sharply over the medium-term as the coalition government’s tough deficit-reduction measures kick in.
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Hirst takes director role at Barclays Corporate
Barclays Corporate has appointed Dion Hirst as relationship director at its Manchester office. He joined Barclays in 2001 and worked in the acquisition finance team before moving to private equity firm LDC on a 12-month secondment.
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Optare wins £2.7m London contract
Bus builder Optare has secured an order from Transdev London worth more than £2.7m. The company, which has bases in Blackburn and Leeds, will supply 17 of its Tempo single-decker vehicles.
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SpiriTel wins £5m Punch contract
The Wigan branch of business communications provider SpiriTel has secured a £5m contract from Staffordshire pub company Punch Taverns. The company will provide its voice and data services to more than 800 of the group’s outlets.
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Property
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Charter Walk enters administration
The Charter Walk shopping centre in Burnley has gone into administration after prolonged refinancing talks failed. The complex is one of three centres owned by the Sapphire Retail Fund, a joint venture between the Reuben brothers and Lloyds Banking Group, to enter administration.
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Receiver appointed at Profile Park
Profile Park, a 150,000 sq ft mixed-use commercial site in Nelson, has been placed in the hands of Law of Property Act (LPA) receivers LPA Direct. The receiver has been appointed to collect the rents at the property and improve performance of the asset.
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Lettings market remains buoyant, says RICS
Increased tenant demand and a shortage of properties have ensured the lettings market remains buoyant, according to the latest RICS residential lettings survey. The picture in the North West has mirrored that of the rest of the UK, with rental activity pushed up due to difficulties faced by first-time buyers in securing mortgage finance.
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