|
 |
|
Top story
|
Wales can have tax powers, says Alexander
The UK government has indicated it would back tax raising and borrowing powers for the Welsh Assembly if a consensus in favour emerged among assembly members. Danny Alexander, the UK chief secretary to the Treasury, told the National Assembly’s finance committee that financial freedoms such as those which the Scottish Parliament is to get would be available to Wales. But he ruled out immediate reform of the Barnett formula, which is widely thought to underfund Wales by about £300m a year in terms of its needs.
|
|
Companies
|
Avia considers fresh funding
Avia Health Informatics, the healthcare software company based in Colwyn Bay, is looking at funding methods for expansion after its losses deepened and sales slowed in the six months to September. The AIM-listed company, which owns Plain Healthcare, made a £255,330 pre-tax loss, compared with £83,000 in the same period the year before, on sales which slipped to £987,000 from £1.05m.
|
Dee Valley hit by borrowing charges
A £2.2m increase in borrowing charges was blamed for a £2m drop in first-half pre-tax profit at Wrexham-based water company Dee Valley. However, revenue for the six months to 30 September rose to £10.6m, a 1.9 per cent increase on the first-half of 2009, which Dee Valley said reflected a 0.9 per cent rise in average annual charges.
|
Gelert pet food sales rise
Turnover at Gelert Pet Nutrition has increased by 25 per cent during the year to 30 June, despite the company reporting a "challenging" economic climate. Pet food producer Gelert, which has manufacturing facilities in Pencader and Llangadog, posted turnover of £12.2m, up from £9.8m in the previous year.
|
Wales Top 300 companies Database
Insider has released a fantastic source of business contacts: The Wales Top 300 Companies 2010 Database. A comprehensive listing of the Top contacts at the Top companies. Free sample available now.
|
|
Property and construction
|
Jehu wins £1.6m Ludlow Street contract
Ludlow Street Healthcare, a mental health and learning disability service company based in Cardiff, has appointed Bridgend construction company Jehu Project Services to build a £1.6m extension. Jehu is expected to complete the new wing for Ludlow Street's Beechwood College campus near Barry by June 2011.
|
Six out of ten Techniums to go
The Assembly Government will close or sell six of its ten flagship Technium business incubation centres. The move follows a review which found some were not delivering value for money, or creating as many jobs as had been forecast.
|
Von Essen buys Llangoed Hall
Llangoed Hall Hotel in Brecon has been acquired by Von Essen Hotels. The four-star hotel was formerly owned by the family of late fashion designer Laura Ashley.
|
Developer buys Caernarfon Woolworths site
A former Woolworths site in Caernarfon has been acquired by developer Kearns Properties, in a deal funded by the Co-operative Bank. Owner Damian Kearns told Insider the premises are being let to the Original Factory Shop with fit out expected to complete in time for the Christmas shopping season.
|
|
People
|
Water job for BBC chief
BBC Wales director Menna Richards has joined the board of Glas Cymru, the company which owns Welsh Water (Dwr Cymru), as a non-executive director. Richards, who is due to leave the BBC in February, will join Glas Cymru’s audit and nomination committees and will represent the board on the company’s membership selection panel.
|
|
|
|
Advice
|
Economic Outlook
Dr Adam Marshall, director of communications and external affairs at the British Chambers of Commerce (BCC), outlines the future for the UK economy in 2011 ahead of the NatWest Business Knowledge Webinar Series.
|
|
|
