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Top story
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Fair wind for First Hydro despite profit drop
First Hydro, operator of Ffestiniog and Dinorwig pumped storage power stations, expects to benefit from power station closures and unpredictable wind power generation levels despite a dip in profits and turnover in 2010. The company made a pre-tax profit of £102m, down from £136m the year before, on turnover which dropped to £255m from £286m.
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Deals
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Locked Outside launches after investment
Mobile key-cutting business Locked Outside has been launched by entrepreneur Michael Jones. The Port Talbot-based company has been backed by Business Connect and UK Steel Enterprise.
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Frying start for KFC franchise after deal
A KFC restaurant franchise has set up in Swansea backed by a £400,000 funding package from NatWest. Franchisee Tejpal Singh, trading as Balsab, has worked for KFC for more than 20 years and has now set up his own restaurant in Uplands Crescent.
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Companies
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Cardiff looks for alternatives as BMI Baby pulls out
Cardiff Airport said it was disappointed but not surprised after budget airline BMI Baby said it would withdraw its operations from Cardiff this autumn.
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Top 300 Companies offer - ends soon...
You have just until the end of the week to take advantage of Insider's 10% discount off the brand new Wales Top 300 Companies 2011 database (released at the end of the month) - our accurate and comprehensive business marketing list, providing you with the strongest contacts for the region’s biggest companies. Pre-order now to receive the discount or request a free sample (offer expires 31st May).
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Property and construction
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Newport to receive £2.6m investment
Urban regeneration company Newport Unlimited is to invest £2.6m in Newport city centre. The aim of the cash is to promote Newport as a business location and improve "the environment and vibrancy" within the city.
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JR Smart buys Shand House
Cardiff-based developer JR Smart has acquired Shand House, the 45,000 sq ft HQ of Cardiff Institute for the Blind.
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Election
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Lib Dem pledges on training, innovation and environment
The Liberal Democrats have pledged to offer Welsh companies £2,000 for staff training for formerly unemployed young people, and to set up an innovation investment scheme, if elected in Wales in May.
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Plaid promises loan fund and renewal minister
Plaid Cymru plans to set up a £90m loans scheme for small companies and create a minister for economic renewal if elected.
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Conservative Party wants seaside regeneration
The Welsh Conservative Party has promised to promote regeneration in Welsh seaside towns through partnerships which could bid for enterprise zone status.
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