KPMG has published its annual enterprise barometer which shows Welsh business owners are more positive on growth than the UK as a whole.

Nearly nine in 10 (89%) businesses in Wales are confident about growth this year, according to new research from professional advisory firm. KPMG. Its annual private enterprise barometers shows confidence over growth amongst Welsh firms is 2% higher than the UK average of 87%.

Increased demand for products and services was identified as the main reason for the outlook, cited by 43% of Welsh businesses, while 42% highlighted plans to introduce new technology as another reason for optimism in the year ahead. Technology also dominated as a leading investment priority for Wales-based businesses, with 39% identifying areas such as digital transformation as a key investment focus, followed closely by investment in artificial intelligence (38%), both in line with the UK averages.

Diversification is also high on the agenda for private businesses across Wales, with more than half of businesses (57%) looking to introduce new service lines and broaden their client offering.

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Appetite for internationalisation is high, with 63% confirming that appetite for international expansion has grown in the last 12 months. 56% of respondents are also targeting new markets as a way to diversify over the next five years. Western Europe was identified as the most favoured location for expansion and trade amongst Wales businesses, with 53% citing the region as a priority.

The appetite for alternative funding options is strong, with nearly half (47%) of regional businesses now open to private equity investment, in line with the UK average. This reflects a willingness amongst firms to explore new sources of capital to support innovation and accelerate growth.

On merger and acquisitions more broadly, 41% are open to opportunities but not actively seeking them. 36% are focused on internal growth only, while a further 28% are actively pursuing acquisitions.

David Williams, Wales and south west regional office senior partner at KPMG UK, said: “Wales’ impressive confidence heading into 2026 puts it near the top of the leaderboard for this year’s survey. This optimism is being driven by real demand for products and services, combined with strategic investment in tech and diversification.

“More broadly, it’s a pivotal moment for Wales. Major investment and projects like the Celtic Freeport are creating genuine momentum. And businesses are responding by positioning themselves to capitalise.

“Ambition to enter new markets is particularly striking, with over half of respondents eyeing the prospect. Combined with Wales’ growing strengths in renewable energy and infrastructure development, these businesses can be seen to be actively building the capabilities to deliver sustained growth.”

He said: “Let’s be clear, this isn’t just the potential collapse of a brand, this is people’s jobs, this is people’s rent, how they pay their bills and their childcare and yet they are being informed about the sale of their employer through the press. That is morally unacceptable.

Sony Interactive Entertainment is reportedly considering a significant delay for the PlayStation 6, pushing its debut to 2028 or even 2029, according to people familiar with the company’s plans cited in a Bloomberg report. The shift stems from ongoing shortages of high-bandwidth memory (HBM) components, skyrocketing prices driven by artificial intelligence demand and a strategy to extend the PlayStation 5’s lifecycle.

A seven-year gap from the PS5’s November 2020 launch would traditionally point to a late 2027 release, aligning with patterns from PS4 (2013) to PS5. However, supply chain woes and strong PS5 sales—bolstered by the PS5 Pro’s November 2025 debut—have prompted Sony to reassess.

Bloomberg Report Details the Delay Factors Bloomberg’s sources indicate Sony executives are wary of launching an expensive next-gen console too soon. HBM memory, crucial for PS6’s targeted performance, faces deficits as AI data centers gobble up supply from manufacturers like Samsung and Micron. Prices have surged, potentially inflating the PS6’s retail cost beyond $700–$800, deterring mass adoption in a market still digesting PS5 Pro units priced at $699.

“Sony is now considering pushing back the debut of its next PlayStation console to 2028 or even 2029,” the report states, marking a departure from earlier optimism. This aligns with analyst David Gibson’s January 2026 forecast from Macquarie, who pegged a “high likelihood” of post-2028 launch, citing Sony’s focus on PS5 longevity.

Sony has remained silent, but President Hiroki Totoki hinted at extended cycles during a February 2026 earnings call, noting PS5 sales exceeding 75 million units and robust software revenue.

Earlier 2027 Rumors Now in Doubt 2025 leaks fueled 2027 hype. In October, insider “Moores Law Is Dead” claimed PS6 production ramps mid-2027, with a Q4 launch. Reddit discussions and leakers like KeplerL2 echoed this, citing documents showing manufacturing timelines. However, recent X posts and analyst updates dismiss 2027 as unrealistic amid component crises.

Expected PS6 Features Amid Uncertainty Rumors persist on hardware. PS6 is tipped for AMD’s UDNA GPU architecture, Zen 5 CPU, 32GB GDDR7 RAM and ray-tracing prowess rivaling PCs. A dockable handheld variant—echoing PS Vita—surfaced in August 2025 leaks, potentially launching alongside. Pricing speculation: $599 base, per some insiders, half an expected next-gen Xbox.

Sony’s strategy emphasizes backward compatibility, PSSR upscaling (like PS5 Pro) and AI-driven features for 8K/120fps gaming.

Market and Competition Implications A 2028–2029 window gives PS5 more runway, with titles like GTA VI (2026) and potential exclusives sustaining demand. It also syncs with Nintendo’s Switch 2 (mid-2026) and Microsoft’s Xbox next-gen (2028?), per Bloomberg.

Critics argue delay risks losing ground to PC gaming and cloud services, but proponents see wisdom in avoiding a pricey launch during economic uncertainty.

Sony’s Broader Console Strategy Sony’s pivot reflects industry shifts. PS5 Pro’s success—over 5 million units sold by February 2026—proves mid-gen refreshes extend lifecycles. Handheld rumors suggest diversification, countering Steam Deck and ROG Ally.

Fan reactions on X and Reddit mix frustration and acceptance: “PS6 in 2029? PS5 Pro holds me over,” one user posted.

As rumors evolve, expect clarity at Sony’s February 26, 2026, investor day or Tokyo Game Show. For now, PS6’s horizon stretches further, prioritizing viability over speed.

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The Skinbiotherapeutics board has brought in advisers to carry out an investigation into matters relating to the former CEO’s conduct

Shares have tumbled by almost 70% in less than a week at listed Newcastle skincare firm Skinbiotherapeutics Plc after its board dropped revenue and profit expectations in the wake of an investigation into its former CEO.

Stuart Ashman – an experienced life sciences executive – was suspended by the Helix-based firm’s board following concerns about his conduct which led the company to bringing in advisers. He later resigned, with the launch of the investigation then announced to investors on the London Stock Exchange late last Friday.

Mr Ashman had led the business – which focuses on the microbiome to promote wound healing and reduce the risk of infection – since 2019, overseeing a period of significant growth. Since the investigation was set in motion shares at SkinBioTherapeutics, based at The Core at the Helix, have plummeted, from 19.52p on Thursday February 12, to 5.95p by mid-morning on Monday, February 13– a fall of 69% over the last five days.

In an update to shareholders, the AIM-listed firm said that over recent days, it has been “urgently conducting an investigation of the business” and that in light of the newly available information, the board “has reason to believe that the former CEO has misrepresented material information to the board and senior management, the company’s auditors and advisors”.

It said the former CEO was informed of the allegations on Sunday, February 15 and that the investigation is continuing, having reported findings so far to the company’s auditors. It said accrued royalty income was included in the audited FY25 accounts “due to a potential misrepresentation”, triggering the decision to “seek to reverse these sums from the Group FY25 accounts completely”.

The board said it expects to remove £770,000 in accrued royalty income from the accounts, “subject to confirmation by the company’s auditors”, but added that it is satisfied with the health of the business. As a result of the board’s investigation and the removal of the accrued royalty income, the board said it anticipates results for the year ended June 30 2026 will be significantly below current market expectations. Market expectations had been that revenue would reach £6.2m and adjusted Ebitda would be £700,000.

It stressed that following its initial findings the board concluded that contracts held with key partners and customers remain sound and that there is strong future potential of the SkinBiotix technology and the company’s strategy to develop products in skin care and skin health.

The market note said: “Information received late on Friday 13 February 2026 has cast significant doubt on the validity of the accrued royalty income recorded in the audited accounts for the year ended 30 June 2025 . The board currently expects that the FY25 accrued royalty income, which amounted to £0.77m, will be removed from the FY25 accounts, subject to confirmation by the company’s auditors.

“The board is confident, however, in the underlying financial health of the business due to its robust cash position (£2.92m as at 13 February 2026). Whilst the board believes this is an isolated incident, nevertheless, it has instigated a broader investigation to review all of the group’s businesses with respect to financial reporting and operations.”

The note added that Martin Hunt, non-executive chairman, has stepped into the executive chairman role temporarily.

It added: “The board investigation is confident in the quality of the management team, the future potential of the products and underlying businesses, all supported by a solid cash balance. The company’s search to find an interim CEO and to find a new, permanent CEO for the longer term is progressing and further announcements will be made in due course.”

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The consumer goods giant behind Imperial Leather and Sanctuary Spa is battling to win purchases on social commerce platforms alongside traditional retail

The company behind Imperial Leather and Sanctuary Spa has said that reaching consumers on platforms such as TikTok Shop was as crucial as Tesco, as the 142 year old business strives to compete with an emerging wave of social media-savvy brands.

Manchester-based PZ Cussons – the consumer goods giant that was established in 1884 and is responsible for a range of beauty, hygiene and baby products – said it had been investing more heavily in innovation and brand development.

Chief executive Jonathan Myers said the business has to “battle every day to win every purchase”.

“There’s hardly a store in the country that sells a washing and bathing product that doesn’t sell a PZ Cussons product,” he told the Press Association.

However, he said the company had been attempting to remain at the forefront of online shopping trends that many newer brands are capitalising on.

“If you look at the way that most of the insurgent brands are arriving, it’s through social media, and that blurs into e-commerce platforms, for example TikTok Shop,” he said.

“It’s about making sure that we’re present, that we’re growing fast, and that we’re stealing our share of purchases there, just as we would a Tesco Express down the street.”

TikTok Shop, the e-commerce division of the video-sharing social media platform where users can buy and sell products, has expanded rapidly over recent years.

Major retailers such as Marks & Spencer and Sainsbury’s are now selling products on the marketplace alongside thousands of smaller businesses and brands. TikTok Shop recently announced it had ascended to the fourth-largest beauty retailer in the UK, as per data from NielsenIQ, with beauty sales on the platform skyrocketing by 60% year-on-year in 2025, driven by trends such as Korean skincare.

Mr Myers spotlighted PZ Cussons’s ventures in Indonesia – where it has been trialling new sales strategies, including a live-streaming channel from its factory.

He stated: “We run three shifts of live-streamers who are driving demand for our brands that is then fulfilled through marketplaces like TikTok Shop, and delivered on the back of a moped.”

TikTok sales in Indonesia have surged over 600%, where PZ Cussons currently operates a TikTok Shop.

The chief executive expressed he could “definitely see the rise of quick commerce” in urban areas of the UK, hastened by the “blurring” of social media and shopping channels.

Mr Myers emphasised there was no space for “complacency”, adding: “Competition is good because it keeps us on our toes.”