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Top story
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WRU chief says centralisation could work
Welsh Rugby Union (WRU) chief executive Roger Lewis has floated the idea that Welsh rugby could benefit from a more centralised structure as used in Ireland or New Zealand. Lewis told Insider: “A central approach would provide economies of scale and shared resources, while giving the clubs freedom to express themselves.” He said that the idea was at an early stage, as the union and regional clubs signed a participation agreement last year.
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Deals
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Lloyds backs Brains
Lloyds Banking Group will this week unveil details of a funding package provided for SA Brain, the Cardiff-based brewing and pubs group.
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Companies
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Connaught on the brink
Connaught, the social housing services company with a large presence in Caerphilly, has said it is unlikely to raise the funds it needs to stay in business. This morning the group issued a statement announcing that it had been unable to secure funding for its long-term future and had requested the suspension of its shares on the London Stock Exchange.
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Assets up, profits down at Monmouthshire
Profits at Monmouthshire Building Society slipped slightly to £1.9m in the year to April, down from £2m the year before. The Newport-based society, which also reported a 6.5 per cent increase in total assets to £692m, hailed an efficient management system for keeping it in growth and profit.
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Creditsafe returns to profit
Creditsafe Business Solutions returned to the black in 2009 with a pre-tax profit of £2.69m. Improved performance at the Cardiff Bay and Caerphilly-based credit report company, which made a pre-tax loss of £4.46m in 2008, was achieved on increased turnover of £14m, up from £11m in the previous year.
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Take advantage of Insider’s Membership package: Insider magazine, events, business guides, exclusive online content and Insider partner offers. Special introductory offer until 30 September 2010.
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Property and construction
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St David's food quarter is fully booked
The Eastside restaurant quarter of St David’s in Cardiff is fully occupied after baked potato chain Spudulike agreed to occupy an outlet at the shopping centre. St David’s, a joint development between Capital Shopping Centres and Land Securities, now has 30 food outlets.
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Port Talbot to get £107m link road
A £107m funding package for transport project in Neath Port Talbot which will create up to 600 jobs has been given the green light. Funding from the Welsh Assembly Government and the European Union, will enable the completion of the Peripheral Distributor Road in the area.
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Government and politics
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Recycling incentive for manufacturers
A scheme launched this week could enable Welsh manufacturers to receive up to £50,000 to increase their use of recycled material. Wrap Cymru (Waste & Resources Action Programme) will provide funding which can be used for new production and packaging equipment, or to adapt equipment to use recycled materials.
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People
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Carter leaves Freshwater
Edward Carter has resigned as a non-executive director of Freshwater UK, the Cardiff-based public relations group, after setting up his own business consultancy.
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New MD at Plain Software
Plain Software, the Colwyn Bay-based healthcare software company, has appointed Tim Morris as its new managing director. Plain's holding company, Avia Health Informatics, intends to centralise its marketing, finance and other administrative functions at its new London head office.
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