Merger talks between UK Coal and Hargreaves Services have floundered after Hargreaves pulled out of negotiations. Both companies had commented on negotiations in March and April, but Durham-based Hargreaves this morning told the Stock Exchange that “it does not intend to pursue such a merger”. UK Coal, headquartered in Doncaster, said it had received “significant interest” in its proposed disposal of a proportion of its agricultural estate and its search for a partner to develop parts of its brownfield land portfolio.

Hull Forward is to close in September as a result of public sector funding cuts. The decision was taken after its funding partners Hull City Council, Yorkshire Forward and the Homes & Communities Agency indicated there would be no funding available beyond 30 September. The company was created in 2008 to support Hull’s economic development and chairman Ian McIntosh said: “Despite Hull being one of the most severely affected cities in the UK during the current recession, we have created a strong platform on which a successful, sustainable economy for Hull can be built.”

Premier Farnell (PFL), the Leeds-based electronics supplier, has posted pre-tax profits of £22.2m for its first quarter, up 147 per cent on its performance in the same period last year. Revenue for the business' first quarter also outperformed 2009’s results and was up by 20 per cent to £245m. The company highlighted increased sales in improving market conditions as key drivers behind its successful start to the financial year. Chief executive Harriet Green said PFL was confident the strength of the business’ strategy would continue to produce year-on-year sales growth.

Polypropylene fibre manufacturer Chapelthorpe has reported pre-tax profits of £709,000 for the year to 31 March 2010, up from its £3.3m loss in 2009. Reflecting its return to profit, Chapelthorpe said it intended to re-commence dividend payments in February 2011. The Bradford-based company posted revenue of £87.9m, marginally up from £86.2m in 2009, and it identified a major improvement in profitability behind its upturn. The company, which incurred £1.1m in employee-related restructuring costs last year, was “cautiously optimistic” for trading in the year ahead.

Zenith Provecta has secured a deal to manage the vehicle fleet of international tea and Ovaltine business R. Twining and Company. Leeds-based Zenith, which manages a fleet of more than 27,000 vehicles for its customers, will provide full servicing and maintenance, breakdown and accident management for R. Twining, which is out-sourcing its fleet management after previously managing it in-house.

Businesses in Yorkshire are more worried about cuts to public sector spending than the rest of the UK, according to a survey of more than 300 entrepreneurs, carried out by accountancy firm RSM Tenon. Across the regions, 17 per cent of business owners questioned in Yorkshire and the North felt cuts to the public sector was the biggest threat to their business, topped only by Scotland at 19 per cent. Just 7 per cent in the South and 10 per cent in the Midlands, thought it was their biggest concern.

York’s economy declined at half the national average in 2009 and the city is well-placed for future growth, according to the latest York Focus by property consultancy Drivers Jonas Deloitte (DJD). York also out-performed the national average in unemployment, capital retail growth and house prices. DJD cited the £165m redevelopment of the Terry’s Chocolate factory, plans to expand Monks Cross and the York Central regeneration site to support its belief that the outlook for future growth in York was extremely positive.

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Developer Towngate Homes has secured sales of £7m at its luxury Broomfield Avenue residential scheme in Halifax. Fourteen of the 16 detached homes and townhouses have been sold or reserved prior to development. The two-acre site is located in a conservation area overlooking Savile Park. Richard Conroy, chief executive of Towngate Homes, said: “There has been much speculation in the housing industry as to the viability of luxury developments. By securing sales and reservations on almost 90 per cent of the development before any building work had begun, and without the availability of a show home, demonstrates that there will always be a market for top-quality homes in the best location.”

Leeds faces a squeeze on Grade A office space as take-up outstrips supply, according to a local property expert. Speaking at a CB Richard Ellis client seminar, Michael Porter, the company’s director of valuation in Leeds, said: “There is very little Grade A space available in the city centre. Development activity in the city has clearly reduced and all but ceased. Schemes will progress but only providing there are sufficient pre-lets and funding in place.” Porter said the lack of supply was likely to stimulate rental growth in the medium to long term.

Financial services group Centric Commercial Finance has appointed Richard Ackers as business development manager. Ackers joins the Leeds-based business with 20 years’ experience in commercial finance. He will be based at Centric’s West One Leeds office and also be responsible for further expansion for Centric in South Yorkshire and the North East.