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Top story
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Sheffield bucks South Yorkshire’s confidence trend
Sheffield is showing more optimism than other parts of the region, according to the Ipsos MORI National Business Survey’s results for Yorkshire and Humber. Although all sectors and areas within the region were reasonably pessimistic, said Patrick Bowes, the RDA’s principal economist, Sheffield is more optimistic, bucking the South Yorkshire regional trend. Rotherham, Barnsley and Doncaster were among the least confident in the region with north and north East Lincolnshire. Construction, distribution, hotels and catering, and manufacturing came out as the least confident sectors, while transport and telecoms were the most optimistic. Yorkshire’s economy is expected to contract by up to 2.7 per cent in 2009, but may see slight growth in 2010. The RDA said it expected 35,000 to 55,000 jobs to be lost in 2009.
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Deals
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UK Coal sells Coal4Energy
UK Coal has sold its 50 per cent stake in Coal4Energy, which markets coal to domestic and industrial markets, to its joint venture partner Hargreaves Services for a total cash consideration of £9m. The net profit to the group is estimated to be £7m and the proceeds will be used to reduce borrowings and fund investment. UK Coal Mining will also continue to supply Coal4Energy with 250,000 tonnes of certain coals a year in a five-year supply agreement. The company will relocate from Kellingley colliery to Hargreaves’ office in Glasshoughton, Castleford.
Spring manufacturer acquired by Opportunity
Opportunity Group has acquired Sheffield spring manufacturer Tempered Spring Company. The group got funding from The Royal Bank of Scotland in the deal, which was advised by Irwin Mitchell and Strategic Corporate Finance in Sheffield. The acquisition complements Opportunity Group’s existing portfolio of companies including Seal Engineering, Locum Fine Steels and Turton Springs. Tempered Spring Company, which also trades as Tempered Tools, will retain its name.
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Business
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Rensburg Sheppard retains cash despite decline
Rensburg Sheppard has said it is well placed to take advantage of potential opportunities arising from the current climate, despite a decline of 11.1 per cent in its net revenue in the third quarter of this financial year. Further deterioration in global financial markets meant that during the three months ended 31 December 2008 the group’s total funds under management declined 5.4 per cent, compared with falls of 4.7 per cent and 11 per cent in the FTSE APCIMS Private Investors Balanced and FTSE All-Share indices respectively. But the group said it continues to be soundly financed and cash-generative with cash and cash equivalents of £27.3m on 31 December 2008.
Great and good urge businesses to get support
Thirty influential business people from Yorkshire are supporting Rosie Winterton, MP and minister for Yorkshire & Humber, asking businesses to make use of free support from organisations such as Train to Gain and Business Link to get them through the recession. The group includes Asda's chief executive Andy Bond, Jan Fletcher and former AESSEAL chief executive Gordon Bridge.
Defence Group sees increase in demand for security
Security company The Defence Group is expanding its range of security products and increasing its workforce after seeing more demand from businesses looking to safeguard against a rise in crime. The range includes alarms, CCTV systems, integrated lintel shutter systems and Cooper’s Fire Curtains. The Sheffield-based company has also appointed Ikram Mirza as business development manager and Natalie Hill as sales office co-ordinator.
Insider needs your recommendations
There’s nothing worse than working away from home and not knowing where to get a good meal or decent bed for the night. We realise that our readers are a hard-working bunch who often have to travel up and down the country on business trips, so we’re putting together a Business Travel Guide that will take a look at the main UK business destinations and outline in a nutshell the best places to eat, sleep, entertain clients and do business. Our readers’ recommendations will form the backbone of this guide, so if you know a good hotel, restaurant, business facility provider, bar or cafe, we would like you to tell us about it. Click here to give your recommendations, which may be included in the final guide.
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Property
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Doncaster powers ahead
Doncaster’s 95-acre Power Park has been granted planning permission. The Hatfield Power Park, by developer Waystone, will provide large commercial and industrial units for businesses with large heat and power requirements because of its location next to the working Hatfield colliery and a power station under development by Powerfuel. The permission includes a new 2 km road linking the park to the M18, which opens up further regeneration opportunities in Hatfield and Stainforth.
Rope and Sling Specialists move to Rotherham
Lifting equipment engineering business Rope and Sling Specialists is to open its first northern depot at Centurion Business Park, Rotherham. The depot at Aspen Court will have the facilities to manufacture wire rope slings of up to 50 tonnes. Lambert Smith Hampton agreed the five-year lease on the 5,193 sq ft unit at £5.26 per sq ft per annum for the Northern Trust Company, the landlord.
Subway lets at Centertainment
Legal and General has let unit 5 at Valley Centertainment in Sheffield to We Make Sandwiches. The retailer, which trades as Subway, has agreed a 15-year lease on the 1,334 sq ft unit for an annual rent of £38,000 in the deal advised by Savills. We Make Sandwiches was represented by Colliers CRE.
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Events
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Insider showcases best of business tourism…
Insider is rewarding Yorkshire’s business tourism sector again this year at the Business Tourism Awards on 19 March at the Royal Armouries in Leeds. Following the success of last year’s inaugural Business Tourism Awards, this year’s event will bring together 250 leading players from the region's hoteliers, unique venues, corporate hospitality, caterers, AV companies and event organisers. We will award eight accolades at the black tie event. Click here to enter your business.
… And the region’s digital talent
Insider is accepting nominations for the Yorkshire Digital Awards 2009, to be held at the Royal Armouries in Leeds on 7 May 2009. The awards, which recognise the achievements of Yorkshire companies in the digital arena, will also include a new category for best new talent. This category will be open to students in their final year of study on a creative or digital course at a Yorkshire institution whose tutors think they are the ‘next big thing’. Businesses can enter the awards by clicking here before 6 February 2009.
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