Chief executive of Principality Building Society Iain Mansfield takes up the role

Chief executive of Principality Building Society, Iain Mansfield, has been appointed chair of business body CBI Wales. He succeeds Alison Orrells in what is a two-year term. Mr Mansfield, who took up his role at the helm of the UK’s sixth biggest mutual last October, takes up the chair role having previously served as vice-chair.

As a partner of FinTech Wales, he has been a strong advocate of backing supporting start-ups and scale-ups.

He said: “It is a genuine privilege to take up the position of chair of CBI Wales, at such an important time for our economy.

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“Businesses up and down the country are facing a challenging economic and policy backdrop. At the same time, we must address issues closer to home, particularly the urgent need to unlock productivity to secure sustainable, long-term growth.

” As chair, I am committed to strengthening CBI Wales’ position as the leading voice for business across Wales and supporting each and every sector that powers our economy.

” I look forward to amplifying the collective views of business at the highest levels of decision-making as we work together towards the more prosperous Wales we all want to see.”

Russell Greenslade, CBI Wales director, said: “I am delighted to welcome Iain as CBI Wales chair. Iain brings a deep understanding of the high costs and economic challenges faced by businesses.

“With the launch of the CBI Wales Senedd election manifesto,’ Iain will be an important voice in business’ relationship with the current and next government to ensure it delivers the jobs and sustainable growth – from north to south to east and west Wales – needed to turbo charge the economy.

“Iain will also build on Alison Orrells’ work as chair. I thank Alison for her efforts to remove barriers to growth, through her passion, dedication and conversations with senior political leaders from the Prime Minister to the First Minister and Secretary of State for Wales as a member of the Welsh Economic Advisory Group.”

In its manifesto CBI Wales calls on the next Welsh Government to devise its own industrial strategy and well as seeking to double the number of innovation ready firms in Wales.

It also calls for the next administration to look at the case for delivering an M4 Relief Road. The previous project was rejected by then First Minister Mark Drakeford, despite it having been a manifesto pledge and recommended by an independent planning inspector, on cost and environmental grounds.

More than 40,000 bicycle helmets sold at Walmart are being recalled by the U.S. Consumer Product Safety Commission because they violate federal safety standards and pose a “serious risk of injury or death” from head injuries.

Todson Inc., a bicycle wholesaler in Massachusetts, is recalling 40,245 Concord-branded 360 Degree Rechargeable Light-Up bike helmets after federal safety officials said the helmets failed to comply with mandatory retention system and positional stability requirements. 

“The helmets can fail to protect the user in the event of a crash,” the company said.

The recall, which was announced on Feb. 26, involves large-size helmets with a black exterior, built-in LED lighting system, black straps and buckle, and a black plastic adjustment knob at the back.

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The Concord bicycle helmets, recalled by Todson, violate federal safety standards and may not stay securely in place during an accident, raising the risk of severe or fatal head injuries. (Consumer Product Safety Commission)

“Concord” is printed on the rear of the helmet.

The helmets were sold at Walmart stores nationwide and online at Walmart.com from January 2025 through September 2025 for about $30.

Buyers are being urged to immediately stop using the recalled helmets and contact Todson for a full refund.

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The recalled Concord bicycle helmets can be identified by a sticker on the inside of the product. (Consumer Product Safety Commission)

“Consumers should destroy the recalled helmets by cutting the straps off the helmets. Consumers can send photos of the helmet with the straps cut off to 360concordhelmet@todson.com to obtain a refund,” Todson said.

No injuries have been reported.

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Todson has issued a recall for its Concord bicycle helmets after tests found they can fail to properly protect riders during a crash. (Consumer Product Safety Commission)

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The company also warned consumers not to throw the helmet’s lithium-ion battery in the trash or standard recycling bins because of the risk of fire. 

Consumers should contact their local household hazardous waste facility for proper disposal guidance.

The level of confidence amongst Welsh firms is lower than for the UK as a whole.

Business confidence in Wales fell in February according to the latest business barometer from Lloyds.

Companies in Wales reported lower confidence in their own business prospects month-on-month, down three points at 35%. When taken alongside their optimism in the economy, down five points to 22%, this gives a headline confidence reading of 29% ( compared to 32% in January). Anything above a zero reading is positive and anything below negative.

Looking ahead to the next six months, Welsh businesses identified their top target areas for growth as investing in their team, for example through training (71%), evolving their offering, for instance by introducing new products or services (52%) and entering new markets (29%).

For the UK as a whole business confidence was unchanged since January at 44%.

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Firms’ confidence in their own trading prospects fell six points to 53%, but their optimism in the wider economy rose eight points to 36%.

London was the most confident UK nation or region in February (59%), followed by the north east (58%) and Northern Ireland (58%).

The construction sector saw strong gains in overall confidence. In February, confidence was up 14 points to 60%, with manufacturing also seeing a boost, up five points to 37%. Confidence for retail and service sector firms softened slightly, each down two and three points respectively.

Nathan Morgan, area director for Wales at Lloyds, said: “While business confidence dipped this month, we know Welsh businesses are continuing to press ahead with their growth strategies.

“Whether their plans are to upskill their teams, enter new markets or diversify product and service offerings, we’ll continue to be ready to provide our support.”

Hann-Ju Ho, senior economist, Lloyds Commercial Banking, said: “It’s encouraging to see optimism in the wider economy returning, although with a small reduction in firms’ confidence in their own trading prospects. The majority of the survey results were collected following the Bank of England’s close decision to hold interest rates at its February meeting, signalling potential easing ahead, which may have alleviated business concerns, including those around cost pressures. While the rise in pricing expectations to a six month high may indicate firms are looking to rebuild their margins in 2026.

“It’s also great to see confidence increase for manufacturers and construction firms as they are key for UK growth.”