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Geordie musicians make music rich list

Sting is 8th richest musician in the UK according to new rich list Credit: Yui Mok/PA Wire/Press Association Images

Sting and Cheryl Fernandez-Versini have made it onto a list of the richest musicians in the UK.

Sting, who was born in Wallsend, is joint 8th on the Sunday Times Rich List of Musicians, with an estimated fortune of £180 million.

Cheryl, who grew up in Newcastle, is second on The Times' Young Musicians Rich List. She is said to be worth £12 million.

Cheryl Fernandez-Versini Credit: Daniel Leal-Olivas/PA Wire/Press Association Images

Magpies sponsor Wonga posts huge loss

Newcastle United's controversial shirt sponsor, payday lender Wonga, has announced huge losses.

The business has posted a pre-tax loss of £37.3 million in 2014.

It is not clear whether the results will affect Wonga's sponsorship of Newcastle United.

Last year, the company was ordered to pay compensation of more than £2.5 million by the Financial Conduct Authority after sending threatening legal letters from fake law firms to 45 thousand customers.


Yorkshire Cancer Research reveals £5m projects

Projects for diagnosing, treating and caring for cancer patients across Yorkshire are to get a major funding boost.

It's been announced that Yorkshire Cancer Research, based in Harrogate, is to invest £5 million in nine projects to address what the charity describes as a North-South divide in cancer outcomes.

We're extremely proud to be funding such vital research in Yorkshire thanks to the generosity of our supporters.

This is a very substantial investment in projects with a huge regional significance which will take us one step closer to reducing the devastating impact of cancer on people who live in Yorkshire."

– Charles Rowett, Chief Executive Yorkshire Cancer Research

As part of the funding the charity will invest £1.5m in a five-year project aimed at improving the survival of bowel cancer patients through better quality surgery, radiology and pathology.

NUFC: profit goal achieved for fourth year

Newcastle United has made profit for the fourth successive year. This cements Newcastle's position, in financial terms, as one of the most successful clubs in the top flight.

The club's debt remained static at £129million in the form of an interest-free loan from owner Mike Ashley - none of the debt has been repaid.

"I am pleased to report a positive set of results which confirms the healthy financial position the club now finds itself in and is a reflection of the prudent and measured manner in which we operate.

"The club benefits from a supportive owner and is financially stable. This gives us a strong platform from which to grow, both on and off the pitch, a result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business.

"The most pleasing aspect in this set of accounts has been the growth in our commercial revenue and it has been our strongest year yet in that respect."

– Newcastle managing director Lee Charnley


Newcastle United announce record profits of £18.7m

Newcastle United has announced record profits of £18.7m due to increases in television income and new sponsorship deals.

The club also saw revenues increase by 35% from £95.9m to £129.7m.

More than half the club's income (£78.3million) came from the new Premier League television rights deals.

Newcastle United owner Mike Ashley Credit: PA

"Most significantly, the club reported strong commercial revenue growth delivering £25.6million in 2014, up from £17.1million in 2013. This 49.7 per cent increase was largely the result of two lucrative new deals with the club's principal sponsors, Wonga and Puma."

– Newcastle United

North East Chamber of Commerce respond to budget

“There have been several positive announcements made by the Chancellor. The elimination of national Insurance payments for Under 21s and the abolition of the annual tax return will make life much easier for our smaller business members and contribute to the positive employment figures released this morning. Support for our offshore sector and chemical industries are also very welcome.

“Nevertheless, while there have been promises made around business rate reform, annual investment allowances and northern transport, we are yet to see action. Actions speaking louder than words and these issues need to be addressed as a matter of urgency by whoever is in the Treasury after the election.”

– Ross Smith, Director of Policy, NECC
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