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Radiator firm creates 120 new jobs in Newport

Quinn Radiators Ltd is creating 120 jobs at its site in Imperial Park, Newport. Credit: ITV Wales

Over 100 jobs are being created at a radiator firm in Newport with the help of the Welsh Government.

Quinn Radiators Ltd (QRL) is creating 120 jobs at its plant on Imperial Park and will safeguard 290 existing jobs there with the help of a £3million commercial loan from the Welsh Government.

The QRL plant is an important local employer and the loan, which is offered on commercial terms and is repayable, will ensure manufacturing continues in Newport with plans to increase production and exports.

I am also pleased to note that the Group will be using supplies from Tata Steel that is made in Wales for their range of radiators which can only be good news.

– Edwina Hart AM, Economy Minister

The domestic central heating radiator manufacturing business has two production lines at the site with the capacity to produce around 3.5million radiators a year.

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UK visitors to Wales 'down by almost a fifth'

Wales is famed for its castles including Manorbier. Credit: David Jones/PA Archive/PA Images

A survey says 68 million visits to Wales were made by British residents between January and November last year.

But that's down by 19% compared with 2014. The Great Britain Day Visits Survey also says the trips generated almost £2.5bn.

The average spend per day trip was £35.84.

Availability of 'cheap credit' leading to rising family debt

Credit: PA

Families' debts have jumped by an "alarming" £4,000 on average in the space of six months, a report has found.

Aviva's Family Finances report found that typical household debt has surged by 42% since summer 2015 to reach the highest levels seen for two and-a-half years.

The average owed per family in Wales is £4,060.

The latest report has fuelled concerns that many families' finances are finely balanced and the continued availability of cheap credit is leading to households racking up debts on credit cards, overdrafts and personal loans.

Credit: PA

The latest figure recorded by Aviva is the highest since summer 2013, when the average family in the UK owed £16,300.

The latest increase means that the average amount owed is 24% more than in winter 2011, when Aviva started tracking families' finances and households typically owed £10,870.

Recent Bank of England lending figures have prompted concerns from charities about the levels of credit being taken on by consumers.

There has also been speculation that interest rates could start increasing this year, pushing up the cost of borrowing.

The alarming levels of rising household debt, along with a recent reduction in income and savings levels, paints an uncertain picture for the family purse in 2016. With the possibility that the Bank of England could raise interest rates this year, families who have grown accustomed to cheaper credit - particularly those who have spent heavily over the Christmas period - need to ensure they are still fully prepared to manage debt repayments, as well as other monthly outgoings, should rates go up.

– Louise Colley, Aviva

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Welcome to Wales' most expensive streets

Cwrt-Y-Vil Road is one of the most expensive streets in Wales Credit: Google maps

A street in Cardiff has been named as the most expensive street in Wales.

Research by Lloyds Bank found that the average house price in Druidstone Road was £793,000.

Here's some of Wales most expensive streets:

  • Druidstone Road, Cardiff (£793,000)
  • Rudry Road, Cardiff (£781,000)
  • Lisvane Road, Cardiff (£548,000)
  • Lady Housty Avenue, Swansea (£568,000)
  • Cwrt-Y-Vil Road, Penarth (£564,000)
  • Langland Court Road, Swansea (£550,000)

Wales still remains the cheapest area of the UK to buy property with London topping the list of most expensive properties in the country.

Victoria Road in Kensington ­has an average house price of £8,006,000.

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