Western Mail

Ambitious Plans to Put Capital in the Ukeurs Business Fast Lane

AMULTI-MILLION-POUND vision to transform Cardiff into one of the UKEURs powerhouse financial cities has been revealed. Cardiff Council and the Assembly Government have today committed a combined pounds 60m for a new Central Business District in the heart of the city. The CBD will create 4m sq ft of new top-grade office space on land stretching about 140 acres from Cardiff Bus Station, past the Callaghan Square office development and into Cardiff Bay.

Acorn Set to Break the Pounds 100m Barrier

RECRUITMENT and training company Acorn Group has reported a 36% increase in turnover to pounds 93.5m - and is on course this year to top the pounds 100m mark for the first time in its history. Acorn's revenues were up by pounds 24.8m from pounds 68.7m in 2009. The business also played a significant role in boosting parent company Synergie's revenue for 2010 to record levels. It returned sales for the year of 1,23bn - an increase of 29.8%.

Monitise Creates Jobs with Welsh R&D Base

A HI-TECH R&D centre for rapidly growing mobile payments is to be opened in South Wales today. The technology research centre is being opened by global mobile money provider Monitise, and will create 40 jobs with the potential for more.

Cardiff Predicted to Tumble Out of Britain' Top 10 of Powerful Cities

CARDIFF will fall out of the UK's top 10 most powerful cities by 2025, according to a new global research report. Wales' capital city will be overtaken by Sheffield, the former industrial city in South Yorkshire, and tie equal 11th with Newcastle.

Finance Vital Eurto Ensure Export Momentum Keeps On Going'eur

TRADE and Investment Minister Lord Green said financing the growth of small and medium-sized business is crucial to sustaining the growth of BritainEURs export-led recovery, as he visited Welsh businesses this week. Talking to the Western Mail, Lord Green admitted that the UKEURs EURgrowth storyEUR is fragile at the moment, but he said it is being EURrebalancedEUR.

Iqe Benefits From Iphone Demand

IQE, a supplier of wafers for semiconductors used in gadgets such as smartphones, yesterday posted a healthy surge in revenues and profit. The Cardiff-based and London Stock Exchange-listed business has seen its wireless division in particular benefit from the mass adoption of gadgets such as the iPhone.

Obr Defends Its Forecast Decision ; Watchdog Explains Why New Taxes Did Not Affect Report

THE independent tax and spending watchdog has defended its decision not to alter its key economic forecast in light of two major tax changes in the Budget. The Office for Budget Responsibility (OBR) was notified of cuts to corporation tax and fuel duty a week before the Chancellor unveiled his Budget, but said this was too late to include the impact in its forecast report.

Economic Uncertainties Force Holiday Company to Reduce Summer Capacity

TRAVEL operator Thomas Cook is cutting back its summer holiday programme from the UK in the midst of a drop in demand as the economic uncertainty puts off holidaymakers. The group has reduced its capacity for the summer season by 1%, whereas it had planned a 3% increase when it updated the market last month.

Cobra Strikes Profits

COBRA BEER announced its first ever annual profit yesterday and said it will nearly double marketing spending this year to grow sales. The group posted pre-tax profits of pounds 4.9m on sales of pounds 48m last year, which comes after a deal in 2009 that left the group majority owned by Molson Coors.

Housing Associations 'Set to Invest Pounds 250m On New Homes in Wales'

SOCIAL housing associations in Wales have committed to investing pounds 250m to finance new stock in Wales over the next five years. The investment will be dependent on a continued constructive partnership with the Welsh Assembly Government over the 2011-15 period.

'Adopting Eu Laws Is More Costly for Uk' ; Professor Shows Problem of Varying Legal Systems

ADOPTING new European Union laws and regulations is more costly for the UK than for most other member states, claims Professor Akos Valentinyi of Cardiff Business School. Giving the annual Julian Hodge Institute of Applied Macroeconomics Lecture, Prof Valentinyi, a former head of economic research at the Hungarian central bank, said that the UK was disadvantaged in the EU's pursuit of harmonisation because, unlike the majority of states, its legal system is based on common rather than civil law.

Phs Datashred Completes Second Acquisition in a Month

THE confidential data destruction division of Caerphilly-based business services group PHS has completed its second acquisition in a month. PHS Datashred, the confidential data destruction division of the pounds 400m of PHS, has acquired Milton Keynes-based pounds 1.2m turnover business Shred Secure, for an disclosed sum.

Cut in Number of Local Councils in Wales 'Should Be a Priority' ; Institute of Directors' Assembly Poll Manifesto

A REDUCTION in the number of local authorities in Wales and a priority on infrastructure improvements should be at the heart of the economic thinking of the next Assembly Government, says the Institute of Directors in Wales. In its manifesto for May's Assembly Elections, the business membership organisation said it was also vitally important to improve the skills of the Welsh workforce, as well as tackling "excessive bureaucracy" in the public sector and putting the private sector at the cent...

Savers 'Miss Out On Best Isa Rates'

MILLIONS of consumers with tax-free Isas could be missing out on the best returns available by failing to switch accounts when introductory bonuses come to an end. Research carried out for Consumer Focus found that two-thirds of people who opened an Isa that had an introductory bonus did not move to a new account once the higher interest rate ended.

The Local Firm with a World of Expertise in Safety Training ; Advertising Feature

BARRY Training Services' investment in health and safety training continues to develop at pace. Existing training courses cover most aspects of health and safety training from first aid and plant through to heavy equipment.

Meet the Team Qualified to Secure Your Property

FIRE and Security Alarms (FAS) in Carmarthen was established in 2005 to meet the security needs of businesses and homeowners throughout South and West Wales. Owners of FAS, Emyr Evans and Timothy Humfryes, have both been in the electrical and security industries since 1989.

Is Carwyn Right to Be Wary of Clegg's Offer?

IMAGINE it. After all the focus on the Referendum and the emphatic vote in favour of further primary law-making powers to Wales, who would have thought we would be faced with a situation where the UK Government is hinting strongly that it might offer some further devolution, and yet the Welsh Assembly Government, or at least the First Minister, is saying no thanks. Yet that seems to be the situation surrounding tax-varying powers. Both Danny Alexander and Nick Clegg have indicated that they m...

Corporates Welcome Budget 'Reassurance'

UK CORPORATES have offered strong support for last week's Budget. A post-Budget survey from Barclays Corporate show 88% stating that the businessrelated measures outlined by the Chancellor will have a positive impact on private sector growth, while more than three quarters of respondents believe the Government now offers a clear plan around generating this growth.

Education Is Vital to Create Clever Economy ; Ukfinnishambassadoreurs Advice to Wales During Visit

THE key to economic competitiveness is having a firstclass education system, claims the Finnish ambassador to the UK. Pekka Huhtaniemi has this week held meetings with Welsh business executives and representatives of the Welsh Assembly Government. On trading links between Wales and Finland, he said: EURThe best possibility for Finns to do business in Wales is in the field of renewable energy. Wales has its Renewable Heating Initiative which favours the use of biomass as a source of energy.

Graig Wins Contract to Supervise Building 10 Chinese Ships

THE Chinese arm of Cardiff shipping group Graig, the Shanghai- based Graig China has won a lucrative contract to supervise the building of 10 new ships for Chinese leasing firm Minsheng Financial Leasing. The construction of the ships, all bulk carriers, will be done by Jiangsu Rong Sheng Heavy Industries. Delivery of the final vessel is scheduled for the first quarter of 2012.