Western Mail

Wales Creative Ip Fund Helps New Matthew Rhys Film to Become a Reality

MATTHEW RHYS' latest film has secured its future after the Wales Creative IP Fund took a stake in the movie's soundtrack, it has been revealed. It is the latest investment by the IP Fund, which is taking a pounds 120,000 equity stake in the film production and is its first investment to include rights to revenues generated from a production's soundtrack.

Monmouthshire Proves to Be a Secure Haven in the Recession

MUTUAL Monmouthshire Building Society has marked its 140th year in business by achieving record levels of new retail investments and posting a 7% rise in total assets. Despite the turmoil in the financial markets during the year and the dramatic fall in interest rates, the Newport-based society grew its assets from pounds 607m to pounds 650m and continued to invest heavily in its branch network and head office services.

Mutual 'Still Generating Solid Profits in Severe Conditions'

PRINCIPALITY Building Society is continuing to drive profitability in what remains a challenging climate for the financial services sector, latest half year results published today show. For the first six months of its current financial year (2009 calendar year) the Cardiff-based mutual posted pre-tax profits of pounds 5.8m (pounds 8.4m in 2008). However, profits were offset by a pounds 1.4m payment under the Financial Services Compensation Scheme levy - which was only first charged to UK mut...

Tax Claim Call Over Changes in Work

MORE than half (51%) of people in Wales have experienced a fundamental change in work conditions over the past six months, according to research from charity Turn2us. The charity said this could have been a decrease in working hours, changed salary or job loss.

Cooksey to Lead Banks' Company

SIR David COOKSEY is to become chairman of the company set up to manage taxpayers' stake in struggling banks, the Treasury said yesterday. The London & Continental Railways chairman and former venture capital pioneer will take up his role at the helm of UK Financial Investments (UKFI) on August 1. He will replace Glen Moreno, who has been acting chairman since UKFI was established last year. UKFI owns 70% of Royal Bank of Scotland and 43% of Lloyds Banking Group.

Change of Language for Sali Following Sale to Channel 4 ; Cardiff-Based Animator Signs Deal for Popular Animation

WELSH-LANGUAGE animation Sali Mali has been sold to Channel 4. The deal is the first struck by Cardiff-based animator Calon since it regained the commercial rights to the children's programme from S4C in April. S4C's policy is to, wherever possible, return programme rights to producers. The channel no longer has a distribution arm - although it has maintained a majority equity stake in Sali Mali.

New Advisory Service Provides Extra Support to Businesses

A NEW Welsh Assembly Government business support advisory service has been launched for South East Wales. The South East FS4B Regional Centre Service, with main centres in Cardiff, Merthyr and Cwmbran, will provide information for local businesses.

Seaside Town Masterplan

PLANS to redeveloped parts of Rhyl have moved a step closer with an urban design and regeneration company being commissioned to draw up a masterplan. DDP Shape was selected by the Welsh Assembly Government and Denbighshire County Council after 20 firms bid for the contract.

Mixed Message for Retailers As Sales Fall for Third Month

THE DIY, furniture and carpet sectors are suffering in the recession as the CBI yesterday said retail sales fell for the third month in a row. The business lobby group revealed that 47% of retailers said sales volumes were down in the year to July, against 32% reporting an increase.

Cussons Cleans Up As Fear of Swine Flu Triggers a Dash for Hand Gels ; Worldwide Sales Up 27% to Pounds 838.1m

SOAP giant PZ Cussons yesterday revealed consumers were snapping up anti-bacterial handwashes to ward off germs as swine flu fears sweep the country. PZ Cussons said its range of Carex waterless hand gels were selling "particularly well" as Britons become more hygiene- conscious.

Fall-Off in Competition Gives Paragon a Hand During Difficult Times

BUY-TO-LET lender Paragon yesterday said record low interest rates and a lack of competition were helping the group weather the downturn in the housing market. Impairment losses between April and June were lower than in the first half, while its share of loans more than three months in arrears edged lower to 1.71%.

Bp Oil Tanker 'Steers a Steady Course Through Choppy Waters' ; Cost-Cutting and Production Rises Offset Plunging Prices

BP announced a 53% slump in profits yesterday, but the oil giant said it continued to steer "a steady course through choppy waters". The haul of pounds 1.9bn ($3.14bn) between April and June was well down on the $6.75bn seen a year ago, a period when oil prices were approaching record high levels.

Clydesdale Bank Downgraded Amid Worsening Economic Outlook for Uk

FEARS over the deteriorating UK economic outlook yesterday saw the Clydesdale bank slapped with a credit rating downgrade. Ratings agency Standard & Poor's (S& P) said the bank would face rising losses on its loans, particularly in its commercial portfolio.

Chancellor Learns at First Hand How Welsh Businesses Stand

LAST week a group of businesses got to question the Chancellor of the Exchequer during his visit to Ford's engine plant in Bridgend. The top issues that arose provide an interesting overview of the kind of concerns industry in Wales is battling with.

Hunt for Marketing Winners

THE Chartered Institute of Marketing is calling on industry professionals to enter its second Welsh Marketing Awards. Canmol, which means "to praise" in Welsh, celebrates and promote excellence in the marketing industry in Wales and the CIM is calling for entries from the best in the business before its August 31 deadline.

Over-50s 'Face Increased Barriers to Work'

PEOPLE over the age of 50 are facing increased barriers to work, including age discrimination, as more older workers lose their jobs because of the recession, new research shows. A study of almost 800 older adults revealed a sharp increase in the numbers being made redundant, up from 32% to 47% between last autumn and May.

Sportstars Aims to Be a Winner Across the Uk

A CARDIFF sports specialist company has unveiled ambitious plans to expand across the UK. SportStars, which provides sports coaching for children aged four to 12 in primary schools across South Wales, is focused on driving business initially in the English market.

'More Than Half 'of Small Firms Don't Have Websites

MORE than half of small businesses in the UK do not have a website, despite research revealing an average 37% increase in turnover among small businesses with an online presence. The findings, from Mr Site, the website creation package and PayPal, the online payments service, show that small businesses without a website could be collectively reducing their turnover by as much as pounds 235bn.

Buy As You View Makes Green Investment

A HOUSEHOLD goods supplier whose business depends on home deliveries and payment collections has invested pounds 90,000 in reducing its carbon footprint. Bridgend-based Buy As You View has bought a specially configured version of logistic management tool, Paragon Multi Depot Software, to plan goods delivery patterns and customer home visits more efficiently.

Floorer Lifts Its Act On Cutting Fuel and Waste

A CARDIFF-BASED flooring company has taken steps to reduce its carbon footprint by reducing its packaging and investing in a fleet of more energy-efficient forklifts. Westco, which has a range of more than 500 different wood and laminate flooring products, has made significant reductions to its packaging in an effort to reduce the amount of waste it produces.