The owner of 445 care homes which is responsible for looking after some 20,000 residents has agreed to be sold to financier Guy Hands' private equity firm for £825 million, it was announced today.
Four Seasons Health Care - who have a base in Darlington - the UK's largest independent elderly and specialist care provider will be sold to private equity firm, Terra Firma.
IPPR North predicts that unemployment with rise 9% this year in our region, meaning another 11,000 people will be out of work in the North East.
The IFS also pointed out recently that the majority of Government spending cuts are still to come.
The recession has partly been brought on by a 3% fall in the construction sector, which has fallen further from -0.2% in the last quarter of 2011.
Up to 400 new jobs could be created as a sea cable laying company comes to the region.Read the full story ›
A museum set up in County Durham seven years ago may struggle to survive unless it can attract more visitors. The vintage Vehicles Museum in Shildon was born out of the enthusiasm of one man.
Plans to redevelop an area of Middlesbrough have been criticised. Some local businesses say proposals to build a new shopping area at Cannon Park would force them to relocate - and that will mean they'll lose money.
But the council say it will be good for the town and make Middlesbrough a more attractive place to shop.
Business owners in Cannon Park are angry at council plans to redevelop the area and turn it into a shopping complex. They could be forced to move their premises to another part of town. A council meeting will take place today and proposals are expected to be put out to public consultation.