Demand for Gap Group’s processing services has grown significantly in the face of regulatory compliance pressures

A North East recycling and haulage business is creating new jobs as it expands its operations into Yorkshire. Gateshead-based Gap Group North East, which specialises in recycling electronic waste, is opening it third site in Hessay, York, in moves which will create eight new jobs.

The company said the expansion strengthens its nationwide network, bringing faster, more accessible electrical recycling services to customers across Yorkshire, the Midlands, and the South of England and Wales. The opening marks a significant milestone in the company’s growth, adding to its established processing facilities in Gateshead and Perthshire.

Directors said the Yorkshire launch – at Hessay Industrial Estate – gives Gap Group NE a central hub from which to significantly improve service for customers across Yorkshire itself, the Midlands, and the South of England and Wales. They said it will reduce collection distances and unlock faster, more flexible processing for partners in those regions.

As regulatory pressure around WEEE (Waste Electrical and Electronic Equipment) compliance continues to intensify, businesses, local authorities, and the compliance schemes and brokers that support them are all seeking partners who can handle growing volumes across a wide range of waste streams.

Bosses say demand for Gap Group’s processing services has grown significantly as a result. The Yorkshire site will deliver benefits for its customer base, which spans businesses of all sizes, local authorities, compliance schemes and brokers.

Benefits will include more efficient transport routes, reduced mileage and faster turnaround for collections across the regions.

The York opening comes a year after Gap Group sealed a seven-figure funding package from HSBC UK to aid its expansion into Scotland. It used the funding to build a fridge recycling plant near Perth, Scotland.

That deal came two years after the company secured a £10m deal with HSBC which it used to buy a new 50,000 sq ft polymer and metal separation plant, to separate the plastic components of electronic goods, a move which also led to the creation of 20 jobs.

Nigel Tomlinson, commercial director of Gap Group North East, said: “As demand grows, our mission is to make sure every customer, wherever they are in the UK, receives the same level of service, speed, and compliance support. The Yorkshire site is about us providing what our customers need.”

Intel shares climbed 3.55% to $138.75 in Monday morning trading, extending what has become one of the most dramatic comeback stories in the stock market this year, as investors continue betting that the chipmaker is positioning itself as a central partner in Apple’s push to manufacture semiconductors domestically.

A Stunning Turnaround in 2026

Intel Corporation has become the kind of stock that splits a room. It started in 2026 near $37 and now trades above $138, a gain of roughly 260% that turned a left-for-dead chipmaker into one of the year’s defining comeback trades. The turnaround is no longer the debate. The price is.

The Apple Catalyst

That tension got sharper last week. On June 18, shares jumped 10.6% after President Trump posted that Apple had agreed to work with Intel to design and build chips in the United States. Neither company confirmed it, and Intel said only that it would not comment on a potential agreement. The stock rallied anyway, because the market now prices Intel as the default American foundry, and an Apple win would validate that thesis like nothing else.

Intel stock rose on reports that Apple could become a foundry customer, reinforcing hopes that the company is gaining traction in its effort to rebuild U.S. semiconductor manufacturing capacity.

A Reaction Drawing Mixed Reviews From Analysts

The market’s exuberance over a still-unconfirmed deal has drawn skepticism from at least some corners of Wall Street. Intel’s Apple-driven surge has gotten a harsh verdict from some analysts, with one describing the stock’s price action as “becoming a meme stock,” reflecting concern that the rally has outpaced the concrete evidence currently available about any actual agreement between the two companies.

Not all reactions have been negative, however. Intel’s surge on the Apple news helps prove the company is a “real tech player,” according to Deepwater’s Gene Munster, who framed the move as a sign that markets are beginning to take Intel’s manufacturing ambitions more seriously.

Analyst Price Targets Lag Well Behind the Stock

Despite the stock’s continued climb, formal Wall Street price targets remain notably below where Intel currently trades, highlighting the gap between near-term sentiment and longer-term valuation models. Wall Street’s mean target sits at around $94, roughly 30% below the current price. Still, individual analysts have continued revising their targets upward in response to the stock’s momentum. Intel’s price target was raised to $135 from $128 at Mizuho, reflecting at least some willingness among analysts to move targets closer to the stock’s current trading range.

A Business Showing Genuine Operational Improvement

Beyond the speculative Apple-related catalyst, Intel’s rally has also been supported by a real, sustained improvement in the company’s underlying financial performance. The turnaround is no longer the debate, with Intel having now delivered a sixth consecutive quarter of revenue above its own expectations, with Q1 2026 revenue of $13.6 billion and the Data Center and AI segment, which sells server CPUs and accelerators, up 22% year-over-year.

Normalized earnings per share are swinging from negative territory to an estimated $1.09 this year and $2.27 by 2028. Free cash flow, still negative on a trailing-twelve-month basis, is estimated to turn positive as soon as 2026 as foundry losses narrow.

Management’s Stated Financial Target

Intel’s leadership has been explicit about the specific financial benchmark guiding the company’s turnaround strategy. The clearest read on management’s ambition came from the Bank of America Global Technology Conference on June 2. CFO David Zinsner confirmed Intel is targeting the “Rule of 45,” meaning revenue growth plus operating margin summing to 45. “Lip-Bu’s been pretty focused on this measure,” he said, framing it as a multi-year goal. It tells you what the company is solving for: profitable growth, not growth at any cost.

A Significant Recent Trading Range

Intel’s stock has shown considerable volatility even within its broader upward trend over the past year. In the last year, Intel shares hit a 52-week high of $139.44 and a 52-week low of $18.97, a range that underscores the magnitude of the stock’s reversal from its earlier struggles to its current position near the top of that range.

Strength Extending Across the Chip Sector

Intel’s gains have come alongside broader strength across the semiconductor sector, with several other chipmakers also drawing fresh attention from analysts and investors in recent sessions. Other chip names, including Qualcomm and Micron, have also seen notable single-day gains tied to broader optimism around AI infrastructure spending and memory chip demand, suggesting Intel’s rally, while exceptional in scale, has occurred within a generally favorable environment for semiconductor stocks more broadly.

With neither Apple nor Intel having formally confirmed the foundry partnership that helped trigger last week’s rally, the central question facing investors is whether an official announcement will eventually validate the market’s current pricing, or whether the stock’s gains have run ahead of the underlying facts. Given the substantial gap between Intel’s current trading price and Wall Street’s average target near $94, the coming weeks are likely to test whether the company’s improving operational metrics and the broader Apple speculation can sustain a valuation that has already delivered one of the most remarkable single-year turnarounds of any major technology stock in 2026.

Club hails ‘significant milestone as we move into the next phase of development’

Manchester United have secured the bulk of the land required to construct a new 100,000-seater stadium. The club had been in negotiations with Freightliner to obtain land behind the Stretford End, however talks had ground to a halt, prompting United to explore alternative options for land surrounding the existing ground.

United have now confirmed they have reached an agreement on a separate plot of land situated roughly 350m north-west of the current stadium. The site is a 25-acre triangular plot, approximately 350m from Old Trafford (positioned between Wharfside Way, Europa Way and John Gilbert Way).

The land has been acquired from Indurent, a prominent provider of industrial space and a Blackstone portfolio company. United now hold the majority of the land required for the project and will press ahead with efforts to obtain the remaining parcels.

Design work on the new stadium had been put on hold while negotiations with Freightliner were ongoing. The club had spent a year in discussions with Freightliner before turning its attention to other options.

United believe they have secured a fair agreement in purchasing the land from Indurent. The club can now push forward with its design work, with Foster + Partners set to lead the design process for the ambitious 100,000-seater stadium, reports the Manchester Evening News.

Collette Roche, CEO, United’s new stadium development, said: “Today’s news highlights the progress we’re making towards a world-class new home for Manchester United and represents a significant milestone as we move into the next phase of development.

“Being able to build so close to Old Trafford allows us to preserve the heritage, traditions and rituals that are so important to our fans. We are committed to building a world-class stadium with our supporters, not just for them, with atmosphere, affordability and accessibility at the heart of our thinking.

“This is a generational opportunity that is fully aligned with both local and national growth ambitions. Securing the right land for our new home has been absolutely critical, and the land we’ve acquired gives us the stage to deliver a truly world-class stadium that honours our past and is ready for our future.”

United have pledged to work directly with businesses affected by the proposals to help guide them through the transitional period. The Mayoral Development Corporation is set to release the broader masterplan for the Old Trafford regeneration scheme, alongside details of the formal consultation period, on 9 July.

The club has confirmed that supporters will continue to be involved throughout the stadium design process.

Shares of The Baldwin Insurance Group jumped 18.01% to $23.89 in Monday morning trading, extending a powerful rally sparked by reports that the Tampa-based insurance brokerage has retained advisers to explore strategic options, including a potential take-private transaction backed by private equity.

The Catalyst Behind the Rally

JPMorgan upgraded Baldwin Insurance to Overweight from Neutral and raised its price target to $28.00 from $25.00. The upgrade follows a report by Insurance Insider that Baldwin had retained Ardea to advise on strategic options, including a potential private equity-financed take-private transaction. Baldwin did not comment on the news.

JPMorgan analyst Pablo Singzon said a take-private transaction is a credible outcome that could allow a new owner to capitalize on improving fundamentals over the next several years and to use more debt in the capital structure than would be possible under public ownership.

A Sharp Reversal From Recent Weakness

Monday’s surge marks a dramatic turnaround for a stock that had been under sustained pressure in recent weeks. Baldwin Insurance Group stock has been under pressure recently, with the price near $18.69 and declines over the past month and past three months raising questions about how investors should interpret the company’s fundamentals. The 30-day share price return was down 6.64%, the year-to-date share price return was down 21.40%, and the one-year total shareholder return was down 50.72% heading into the recent rally.

A Significant Gap Between Price and Analyst Targets

Even before the take-private speculation emerged, several analysts had argued the stock was trading well below fair value. According to seven analysts, the average rating for BWIN stock is “Buy.” The 12-month stock price target is $30.57, which is an increase of 43.72% from recent levels. The analysts have a consensus price target of $29.33 for Baldwin Insurance Group based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $40.00, and the most bearish reporting a price target of just $23.00.

JPMorgan’s Outlook for the Underlying Business

Beyond the takeover speculation itself, JPMorgan also pointed to improving fundamentals as a separate reason for optimism. JPMorgan expects Baldwin’s organic growth, which has been slowing since the third quarter of 2025, to begin improving. The firm also expects margins to gradually expand as the 3B30 cost savings program earns through in the next few years. Analysts predict the company will be profitable this year, with earnings forecast at $2.93 per share for fiscal 2026, a sharp turnaround from the recent loss of $0.61 per share.

TD Cowen’s Bullish Case

Other analysts have echoed similarly positive views on the stock’s valuation relative to its growth profile. TD Cowen reiterated a Buy rating on Baldwin Insurance, maintaining a price target of $37.00. The firm highlighted Baldwin Insurance as its top pick among small- to mid-cap companies for 2026, citing the company’s organic growth rate, which is approximately twice that of its retail peers. TD Cowen also noted that Baldwin Insurance trades at 7.2 times its estimated 2027 earnings per share, while peers trade at roughly 14 times.

A Business Built Across Three Segments

The Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. The company operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. Its Insurance Advisory Solutions segment provides private risk management, commercial risk management, employee benefits, and Medicare insurance solutions for businesses and high-net-worth individuals, as well as their families.

The Underwriting, Capacity & Technology Solutions segment offers an MGA platform that manufactures a technology-enabled insurance product suite comprising personal, commercial, and professional lines. Its Mainstreet Insurance Solutions segment provides personal insurance, commercial insurance, and life and health solutions to individuals and businesses in communities, as well as offering reinsurance brokerage and consultation for government assistance programs, including traditional Medicare, Medicare Advantage, and Affordable Care Act solutions for seniors and eligible individuals. The company was formerly known as BRP Group, Inc. and changed its name to The Baldwin Insurance Group, Inc. in May 2024. It was founded in 2011 and is headquartered in Tampa, Florida.

Recent Financial Performance

The company’s most recent quarterly results showed continued top-line growth even amid the broader stock price decline. The Baldwin Group reported Q1 2026 total revenue of $532.2 million, up 29% year-over-year, with organic revenue growth of 2%. Adjusted EBITDA rose 21% to $137.2 million, and adjusted diluted EPS was $0.63. Adjusted EBITDA margin was 25.8%. Cash and cash equivalents totaled $146 million, with $393 million in undrawn revolving capacity as of March 31, 2026.

A History of Active Dealmaking

Beyond the current take-private speculation, Baldwin has built much of its recent growth through an active acquisition strategy across the insurance distribution landscape. The company has completed several notable transactions in recent months, including the acquisition of Obie, an insurance platform for landlords and real estate investors, and the completed acquisition of Capstone Group, a full-service insurance brokerage firm based in the Philadelphia area.

Other Recent Strategic Initiatives

Beyond acquisitions, the company has also pursued several other strategic initiatives aimed at expanding its technology and risk-management capabilities. The Baldwin Group launched Azimuth Re, Ltd., a member-owned group captive for construction clients, targeting contractors with annual premiums of $250,000 or more. Separately, the company announced an expanded enterprise relationship with Anthropic to deploy the Claude AI assistant firm-wide across segments and functions, following targeted deployments that delivered measurable improvements in client insights, productivity, and workflow efficiency.

A History of Significant Volatility

Monday’s sharp move continues a pattern of significant swings that has characterized the stock over the past year. Baldwin Insurance Group’s shares are very volatile and have had numerous moves greater than 5% over the trailing 12 months, with the stock having previously surged more than 22% in a single session following a strong fourth-quarter earnings report and analyst upgrade earlier this year.

With Baldwin declining to comment on the reports regarding Ardea’s advisory role, the central question facing investors is whether the strategic review process ultimately culminates in an actual take-private transaction, or whether the company instead continues operating as a public entity while working through its previously outlined cost-savings and organic growth initiatives. Given the wide dispersion in analyst price targets — ranging from $23 to $40 — and the substantial premium implied by even the most conservative of those targets relative to the stock’s recent trading levels before Monday’s surge, market participants will be watching closely for any official confirmation or denial from the company regarding its strategic options in the days and weeks ahead.

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NEW YORK — Apogee Therapeutics Inc. shares experienced dramatic gains Monday, rising more than 46 percent to $132.70 in morning trading. The biotechnology company’s stock movement reflected strong investor reaction to advancements in its clinical pipeline and potential for significant therapeutic breakthroughs.

Trading volume for Apogee Therapeutics surged substantially above average levels, indicating broad participation from institutional and retail investors. The percentage increase placed the stock among the day’s top performers on major exchanges, generating considerable market attention.

Biotechnology companies frequently see sharp price movements following clinical trial updates or regulatory milestones. Apogee Therapeutics, focused on developing innovative antibody therapies, has positioned itself in competitive areas of immunology and inflammatory diseases. Monday’s surge suggested positive interpretations of recent company progress.

The session’s gains occurred within a broader healthcare sector showing selective strength. While major indices demonstrated modest movements, individual biotechnology names responded to company-specific catalysts. Apogee Therapeutics stood out due to the magnitude of its advance and trading interest.

Analysts following the company have highlighted its novel approaches to treating complex conditions. Research efforts target specific pathways that could offer improved efficacy and safety profiles compared to existing treatments. Positive developments in clinical programs often trigger substantial market responses in the biotechnology sector.

Apogee Therapeutics operates within a dynamic environment where scientific innovation drives value creation. The sector features high research and development costs alongside substantial commercial potential for successful products. Monday’s trading reflected investor optimism regarding the company’s therapeutic candidates and development strategy.

Trading patterns for Apogee Therapeutics have shown volatility typical of clinical-stage biotechnology firms. Share prices often react sharply to news regarding trial results, intellectual property and strategic partnerships. The current advance suggests favorable assessments of recent activities and future prospects.

Broader healthcare trends provided supportive context for the stock’s performance. Increased focus on precision medicine and targeted therapies has benefited companies pursuing innovative treatment approaches. Apogee Therapeutics’ positioning within this landscape may have contributed to investor enthusiasm.

Market observers noted elevated options activity around Apogee Therapeutics, indicating speculative interest in near-term movements. Such activity frequently accompanies significant news or anticipation of upcoming catalysts. The stock’s liquidity supported active trading throughout the morning session.

The biotechnology industry’s competitive nature requires continuous scientific advancement and strategic execution. Apogee Therapeutics’ efforts to advance its pipeline demonstrate commitment to addressing unmet medical needs. Success in clinical development could substantially impact the company’s market position and valuation.

Investor sentiment toward biotechnology has fluctuated based on regulatory environments and commercial considerations. Monday’s gains for Apogee Therapeutics suggested positive views regarding its specific programs and overall development approach.

Company leadership has emphasized rigorous scientific methods and patient-centered development. Such priorities align with industry standards while addressing stakeholder expectations. Strategic decisions about clinical trials and potential collaborations influence market perceptions.

The session’s performance added Apogee Therapeutics to lists of notable market movers. Percentage gains of this magnitude often generate media coverage and increased analyst attention. Investors and observers will likely monitor the stock closely for follow-through or consolidation patterns.

Biotechnology investing requires understanding scientific fundamentals alongside financial metrics. Apogee Therapeutics’ pipeline progress represents key value drivers while cash position and operational efficiency affect near-term stability. Balanced assessment involves multiple considerations.

Market dynamics for biotechnology companies often feature rapid price movements based on news flow. Apogee Therapeutics’ surge exemplified this characteristic while highlighting the sector’s potential for substantial returns. Risk management remains essential given development uncertainties.

Looking ahead, Apogee Therapeutics faces typical biotechnology milestones that could influence future performance. Clinical trial results, regulatory interactions and potential business development activities represent significant potential catalysts. Investors will evaluate these against competitive landscapes and commercial prospects.

The broader market environment continues evolving with attention to economic indicators and policy developments. Biotechnology companies navigate these conditions while pursuing scientific objectives. Apogee Therapeutics’ recent performance suggests resilience amid varying external factors.

Trading activity showed strong momentum for Apogee Therapeutics shares. The 46.82 percent increase reflected significant buying interest and positive sentiment. Market participants will assess whether this momentum sustains or experiences typical profit-taking.

Overall, Apogee Therapeutics’ stock surge highlighted the biotechnology sector’s capacity for dramatic movements. The company’s developments attracted substantial investor attention while contributing to market narratives about innovation and therapeutic potential. Continued monitoring of fundamental progress will remain important for long-term assessments.

Tata-owned Agratas is building a huge plant in Somerset but changed its main contractor last week

Car giant Jaguar Land Rover could face delays receiving its first deliveries of electric car batteries from a government-backed factory in Somerset if the plant’s opening date is pushed back.

Battery maker Agratas confirmed last week it had “parted ways” with its main builder, Sir Robert McAlpine (SRM), and replaced it with Tonroe Group – a privately owned business based in Buckinghamshire – instead.

Agratas, which is owned by Indian conglomerate Tata, is currently building a £5.2bn plant on a site near Bridgwater. It will supply electric batteries to JLR as well as Tata Motors once operational.

When Tata first announced plans for its UK plant in 2023, it was targeting a 2026 launch. On Monday, the company insisted the start date for production was still expected to be late 2027 amid reports it could be pushed back to 2028.

It also refused to reveal the final estimated price-tag for the project after the Guardian reported at the weekend that it could exceed its original £800m construction budget by at least £500m.

A spokesperson for Agratas said: “As the project has progressed, we have determined that a different construction delivery model is needed to support the next phase of our development.

“Following a review of the project’s requirements, we have decided to transition to a new construction partner. We thank our existing construction partner for their support to date.

“This change reflects the evolving needs of the project, positioning us to deliver the next phase with the capability and focus required to meet our objectives safely, efficiently and on schedule.”

In April, the government promised some £380m in subsidies for the Agratas factory, which is based at the Gravity Smart Campus – a 616-acre enterprise zone in Somerset aimed at cleantech businesses. The project is widely regarded as key for Britain’s automotive sector moving towards electrification – and away from fossil fuels.

The plant is expected to generate up to 4,200 jobs once all phases are fully operational, while also unlocking 300 local apprenticeships.

But delays to the start of factory production could prove problematic for JLR, which will depend on the plant for batteries for its vehicles, including the electric Range Rover.

JLR declined to comment on Monday when contacted by Business Live.

It comes just days after JLR announced plans to focus on wealthy North American buyers as it bids for ‘double digit’ revenue growth and tweaks its electric vehicle plans.

The West Midlands based group, which also has a large factory at Halewood in Merseyside, has accelerated its push into the electric vehicle market in recent years, but its chief executive PB Balaji has said there is “no way” it would phase out petrol vehicles entirely as they are still in demand particularly in the US and the Middle East.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Chief executive of Cwmpas Bethan Webber says this year’s co-operatives fortnight is a moment to celebrate the businesses already showing what is possible

.People’s experience of the economy is complex and often disconnected from headline growth. Economies can expand while communities remain fragile. Investment may flow in, but little wealth stays local.

Jobs can be created without giving workers real security, a meaningful voice or a genuine stake in success.

That is why during this year’s co-operatives fortnight(which runs to July 3rd) , we are focusing on a different economic vision for Wales: one that has community wealth building at the heart.

It asks a simple but powerful question: how can we support all communities and places to create wealth, and ensure that more of it stays in that place, circulates through local communities, and benefits the people who live and work there?

It is not a slogan, and it is not a rejection of wider investment. Foreign direct investment will continue to matter and be a catalyst for growth. But if we want a more resilient, productive and inclusive economy, we also need to pay closer attention to local enterprise, democratic ownership and fair work.

In other words, community wealth building is about redesigning the architecture of the Welsh economy. Who owns businesses? Where do profits go? How are public contracts used? Are local firms supported to grow? Do workers share in success? Are communities simply consulted, or are they active participants?

These questions are at the heart of the co-operative movement but are relevant beyond it too.

They matter to entrepreneurs who want to build Welsh businesses across the board. They matter to public bodies who want more value from spending. They matter to investors who understand that resilient local economies are good places to do business. They matter to workers, families and communities who want growth to feel real in their everyday lives.

Wales is a small nation with strong communities, a proud tradition of co-operation, and enormous economic potential. But we also face long-standing challenges, not least stubborn poverty, low productivity, regional inequality, and a loss of wealth from local economies.

Community wealth building gives us a practical way of responding to those challenges. It asks us to move from an economic development model that too heavily relies on attracting activity from outside, towards one that also grows capacity from within.

That means supporting Welsh entrepreneurs. It means helping locally-rooted businesses scale. It means using procurement to strengthen Welsh supply chains. And crucially for us at Cwmpas, it means backing co-operative and social business models that also keep ownership and decision-making closer to the people and places where economic value is created.

Co-operatives, employee-owned businesses and social enterprises are central to this because they change the relationship between business success and community benefit.

The co-operative and mutual Economy 2025 report identifies 519 co-operatives in Wales, with around £500m in income. Wales leads the UK for co-operative new-starts per person. In the wider social economy, Wales now has more than 3,100 social businesses, with a turnover of up to £5.7bn each year and employing up to 68,000 people – with our mapping data showing that 84% pay the Real Living Wage to all staff.

A powerful example of what success looks like is Dulas, a worker-owned co-operative based in Machynlleth. Dulas exports solar-powered vaccine refrigerators to more than 80 countries, helping protect life-saving vaccines in some of the hardest-to-reach communities in the world. In 2024, it was named SME Exporter of the Year at the Wales Business Awards.

This shows what co-operative success can look like – locally rooted and globally relevant. It proves that Welsh-owned enterprises can innovate, export, create skilled jobs and make a huge impact without losing their connection to place.

Since 2020, Wales has seen the number of employee-owned businesses grow from 34 to more than 100. That growth shows what can happen when a clear ambition is matched with specialist support and market development. Instead of successful Welsh firms being sold to distant owners when the owner is reaching retirement, it keeps them rooted and anchored in Wales. It protects jobs, shares wealth, and supports passionate entrepreneurs to leave a legacy in the places that mean so much to them.

We can already see the benefits in businesses such as BIC Innovation, which has seen its employee numbers more than triple since becoming employee-owned.

We have a strong platform for growth, but Wales has not yet fully realised its co-operative potential. A community wealth building approach can make these questions central to economic policy.

As part of a new and integrated approach, it would complement other economic development, improving the Welsh economy from the bottom-up, in a way that strengthens local ownership, builds Welsh supply chains, improves job quality and gives communities a greater stake. That is the rebalancing Wales needs.

Cwmpas believes this is now one of the most important economic opportunities facing Wales. We need to move from celebrating individual examples to building the infrastructure that allows many more to emerge, consistently and across the country.

That means specialist business support and market development. It means better access to finance, stronger links between public procurement and local enterprise, and a clearer role for co-operative and employee-owned models in national economic strategy.

This year’s c-operatives fortnight is a moment to celebrate the businesses already showing what is possible. But it should also be a moment to think bigger. If we want growth that lasts, wealth that stays, and communities that have real power over their economic future, community wealth building must become central to how Wales thinks about prosperity.

The task now is to turn that principle into practice.