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The number of business owners confident of securing bank funding has plummeted from 73 to six per cent over the past year, according to research.

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Global IT and management consultancy Bearingpoint has filed for Chapter 11 bankruptcy protection in the US.

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Monitise, whose technology enables banking transactions to be carried out over mobile phones, has secured $1.5 million (£1 million) to expand into Africa.

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Although asset management fees were stable in 2008, this year could see a greater willingness from asset managers to negotiate their fees downwards, especially in alternative asset classes, according to consultancy Mercer.

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London mini cab company Addison Lee has acquired the three connected companies that form Premier Transport Group. The cash-and-shares deal will create a combined operation with an annual turnover in excess of £18 million.

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Dominic Houlder, an adjunct professor at London Business School, explains how organisations can mature gracefully while remaining open to fresh ideas.