Western Mail

Confidence in Wales 'Tested, Not Diminished' by Recession, Chancellor Says

CHANCELLOR of the Exchequer Alistair Darling said the fact that rival economies such as Germany and France had emerged out of recession was a positive sign for the UK. In giving the annual Callaghan Lecture at a South Wales Chamber of Commerce event in Cardiff yesterday, Mr Darling reaffirmed his belief that the UK economy would come out of recession at the turn of the year, but cautioned against complacency in thinking that the job was done on the recovery front.

Goodway to Lead Welsh Chemists

FORMER chief executive of the Cardiff Chamber of Commerce, Russell Goodway, has been appointed to head the statutory negotiating body for Welsh pharmacies, writes David James. Mr Goodway, who was working for Nigel Roberts at Paramount Office Interiors until March and subsequently as a freelance consultant for Mr Roberts, will take up the role at Community Pharmacies Wales this September.

Conveyor Belt Japanese Restaurant Chain Rolls Out Its First in Wales

JAPANESE restaurant group YO! Sushi is to open its first outlet in Wales next month. The company, founded by former Dragons' Den panellist Simon Woodroffe is investing in its 58th restaurant worldwide at Cardiff's St David's retail and leisure development.

Hi-Tech Venture Purolite Secures $135m Funding for Global Growth

A SOUTH WALES hi-tech venture is poised for continued global growth after securing a new $135m funding line. Purolite International, which has its European HQ and research and development operation in Llantrisant, is being backed by four banks, with the leader funder being HSBC.

Accountants' Chief Warns That Optimism On Recovery 'Undue'

THE chief executive of a global accountancy body has warned against "undue optimism" in terms of economic recovery. Helen Brand said that while the economic picture had improved, for any sustainable recovery businesses and organisations, especially in the financial services sector, had to focus more on good governance.

Be Willing to Make Mistakes and Start Again, Says Gerald Ratner

GERALD RATNER, the jewellery tycoon responsible for one of the most infamous gaffes in corporate history, has urged Welsh businesses not be afraid to make mistakes and be prepared to give themselves a second chance. The former boss of Ratners jewellery stores, who leapt to notoriety in 1991 when he joked in a speech that one of his firm's products was "total crap", yesterday addressed the M4 Business Network breakfast at the Celtic Manor Resort. Mr Ratner, who was consequently fired from his ...

Big Names in the Fashion World Set to Unite As Brand Scoots Back to Britain

FASHION brand Aquascutum is to return to British ownership after entrepreneur Harold Tillman yesterday announced a deal to buy the business. Mr Tillman, who is best known for the transformation of upmarket retailer Jaeger, has acquired the Aquascutum brand from Japan's Renown. Aquascutum was established in 1851 and opened its first UK factory in 1909.

T-Mobile and Orange Set to Join Forces to Create the Uk's Largest Mobile Phone Company ; Promise of Better Coverage but Also Job Losses Warning

MOBILE phone giants Orange and T-Mobile yesterday revealed plans to join forces in a tie-up which will create a new market leader in the UK. France Telecom's Orange and Deutsche Telekom-owned T-Mobile - the UK's third and fourth largest operators - will have 28.4 million customers between them and claim a 37% market share.

'Surprising' Rise in Car Production Lifts Manufacturing

RECOVERING car production pushed the manufacturing sector to its strongest growth in more than three years during July, official figures showed yesterday. Output grew by 0.9% over the month - well ahead of forecasts and the best performance since May 2006 - said the Office for National Statistics.

City Watchdog Fines Barclays Pounds 2.45m for Inaccurate Reports

BARCLAYS has been fined pounds 2.45m by the City watchdog for "serious weaknesses" in transaction reporting at its investment banking arm, it was announced yesterday. The fine marks the eighth largest ever imposed by the Financial Services Authority.

Greene King Stays Cautious Despite Rising Pub Sales

ROBUST trading figures from pubs and brewing group Greene King failed to brighten the company's view of prospects for the industry yesterday. Like-for-like sales across its managed outlets, which include Old English Inns and the Hungry Horse chain, were up 4.6% in the 17 weeks to August 30, driven by the strength of its food operations where the figure was up 8.1%.

Call Centre to Create 50 Jobs

A NEW call centre business in Bridgend is to create more than 50 jobs. Jigsaw Insurance Marketing is to specialise in the telemarketing sector.

'Green Shoots' in Jobs Market

THE jobs market is improving for the first time in 17 months, with slight increases in permanent and temporary appointments, according to a new report. The Recruitment and Employment Confederation (REC) said vacancies were still falling, but at a slower pace than at any time in the past year.

Helping High Achievers Stay at the Top

MIDAS People Management of Cardiff has launched a service for high achievers in the commercial and professional sport sector. The new service, called Bounce Off, offers bespoke coaching and mentoring to senior members of organisations, HR managers and leading sports professionals The techniques used take place off- site and include psychometric profiling and a structured process of coaching, training needs analysis and delivery.

We Must Not Lose Sight of the Goal When Wielding the Carrot or Stick

THE carrot or the stick? That is the basic first choice facing anyone trying to influence the behaviour of others. To persuade and reward good practice or to instruct and apply sanctions for failure? It is the choice with which all parents will be familiar and it is also a choice faced by governments when trying to implement policy.

Prices Begin to Turn Around for Bolthole Properties, but Recovery Will Take Its Time ; France and Italy Suffer Least in Slide

BRITONS who bought second homes abroad have been left nursing heavy losses as a result of the global house price downturn. Not only have many people seen the value of their property slide steeply but, in some countries, mortgages for overseas buyers have dried up, making it impossible to re-mortgage to a different deal and reducing the chances of finding a buyer for those who decide to sell up.

Principality to Open Its 51st Branch at the Heart of St David's Centre

PRINCIPALITY Building Society will open its 51st branch this autumn at the heart of Cardiff's St David's retail development. The news is a further signal of the building society's future confidence, following a solid set of half-year figures that underpin the society's financial strength and continued profitability.

Touch-Screen in Running for Award ; Business Newsbulletin

A SOUTH Wales digital signage company, Indigo Vision, is in the running to win a prestigious industry award for its interactive touch-screen, The Cardiff-based based venture has been shortlisted in two categories in the Audio Visual Awards 2009, which take place in London next month. Other finalists include major industry players such as 3M, Samsung and Sony.

Tips On Staying Fit in the Face of Stress ; Business Newsbulletin

BUSINESSES in West Wales will be given tips on staying fit and healthy in the face of recessionary stress. Powys-based ecological medicine expert Dr Sarah Myhill will address an event organised by the Carmarthenshire branch of the Federation of Small Business next week.

Chandlerkbs Pair Made Associates ; Business Newsbulletin

COST and project management consultancy ChandlerKBS has promoted Brynmor Hughes and Eamon Scullion to associates. Partner at the firm, which has its HQ in Cardiff, Phil Jones, said: "Investment in our staff during the recession is crucial to our continued success.