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L'Oreal wins special diversity award.

An initiative geared to develop new technologies has been launched by the Welsh Development Agency.

A budget of pounds 3m is being made available from the Knowledge Exploitation Fund for academic institutions to work on collaborative research and development projects with industry.

JOHN HUMPHRYS, renowned for his combative interviewing skills on BBC Radio 4's Today programme, is supporting the Age Positive Cymru initiative

Age Positive is a Government campaign that urges employers to end age discrimination in the workplace.

Cardiff-born Mr Humphrys, 61, said that age should be immaterial to a person's advancement at work.

'Employers who ignore the wealth of experience shared by older workers are making a big mistake. They should be grabbing it with both hands,' said Mr Humphrys.

COSMETICS giant L'Oreal has been awarded the prestigious Diversity Best Practices 2004 Global Leadership Award.

The award is in recognition of the firm's strategy of embracing diversity in markets, workforces and communities.

The company's Welsh chief executive, Lindsay Owen-Jones, said, 'We are honoured to receive the first global award in recognition of our diversity initiatives Our company culture fosters and values diversity. To a large extent our strength comes from the diversity of our teams.'

MORTGAGE lending last month dropped to its lowest level since April 2003, official figures showed yesterday.

Net lending secured on homes fell to pounds 7.7bn in September from pounds 8.4bn in August, according to monthly lending data from the Bank of England.

Mortgage approvals during the month also slipped, to 89,000 from 95,000 in August - the lowest since August 2000. The value of all loans approved was pounds 21.8bn, pounds 1.6bn weaker than in August.
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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Date:Oct 30, 2004
Words:278
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