BTG, St Ives, Bauer: Business news in brief on Friday May 6, 2016

The healthcare group BTG has paid out $110 million for a US cancer company whose technology freezes and destroys tumours

A ban on the building of new homes has been overwhelmingly voted in by the residents of St Ives in Cornwall
A ban on the building of new homes has been overwhelmingly voted in by the residents of St Ives in Cornwall

BTG pays out for tumour freezing tech

The healthcare group BTG has paid out $110 million (£76 million) for a US cancer company whose technology freezes and destroys tumours. Galil Medical specialises in kidney cancer but is trialling the technology for use on lung and bone metastases. BT shares were up 0.5p to 583p.

St Ives bans new homes

A ban on the building of new homes overwhelmingly voted in by the residents of St Ives in Cornwall may push up house prices in the town, experts have warned. There are fears that the ban will force wealthy people to compete for existing properties and put developers off building there. The average property price in St Ives is currently £325,000, 76 per cent above the UK average.

Fraudsters "using the dead"

Fraudsters are impersonating people who have recently died to steal money in mortgage transactions. Experian said there are an increasing number of cases of thieves using the identities of people who have died to make mortgage applications to lenders. The practice is still less common that thieves intercepting emails between a buyer and a lender and tricking them into putting their deposit into a fake account.

Bauer’s radio empire expands

Magic and Kiss FM owner Bauer has acquired radio group Orion Media, bringing a portfolio of stations in the Midlands including Gem 106 and Free Radio under its umbrella. The deal, while is estimated to be worth £40 million, could see Bauer investigated by competition regulators.

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