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Top story
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Fears for Welsh innovation as network closed
South Wales inventor Scott Dutton has raised concerns over the state of Welsh innovation following the closure of the Wales Innovation Network. Dutton, who runs Vale of Glamorgan-based The Bra Angel - which has featured on BBC's Dragons' Den - told Insider he was the only Welsh-based innovator at the recent British Invention Show.
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Deals
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Medical Gas Solutions secures another £1m
Medical Gas Solutions has secured further investment of £1m from commercial fund Finance Wales, a subsidiary of the Welsh Assembly Government. It follows the previous £1.5m invested by the body to support the Flintshire-based medical gas supplier's growth plans.
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Property
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Colwyn Bay redevelopment approved
The masterplan for the redevelopment of Colwyn Bay town centre has been approved by Conwy County Borough Council’s cabinet. The masterplan, drawn up by DPP Shape, includes a remodelled shopping centre, town park and square and a new bridge linking the promenade to the town over the North Wales Expressway.
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Newport redevelopment moves forward
Newport City Council is to build on interest in its multimillion-pound shopping centre scheme with an advertising campaign to attract developers. The drive will commence next month in anticipation of a shortlist being drawn up by January.
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Business
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Chatwins Solicitors and 1 Legal in administration
Swansea-based Chatwins Solicitors LLP and 1 Legal LLP have entered administration, it has been announced. The joint administrators say all staff at 1 Legal have been made redundant.
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Glatfelter Caerphilly makes another loss
Metallised paper manufacturer Glatfelter Caerphilly posted a loss after tax of £2.5m for the 12 months to 31 December 2009. The directors said the loss "can be solely attributed to the performance of the trade and assets of Caerphilly Mill" - the previous year's loss had been £3.6m.
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Turnover drops by 76 per cent at Graig
A 76 per cent drop in turnover meant Graig Shipping and its subsidiaries posted a pre-tax loss of $4.1m for the year to 31 December 2009, down from a $5.7m profit in 2008. Turnover fell from $36.6m to $8.8m at the Cardiff-headquartered business.
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CBS wins Audit Commission contract
Pontypridd-based Complete Background Screening has won a national contract from the Audit Commission. The pre-employment screening company's contract will last until the commission is abolished in two years’ time.
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Ocado expands into South Wales
Online grocer Ocado is to deliver to homes in Wales and the South West from March next year after it bought a distribution centre near Bristol. The Hatfield-based company said the centre would serve 1.5 million households in Cardiff, Bristol, Bath and the surrounding areas and said the expansion would create 100 jobs.
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