Welsh Water has announced plans to invest £21 million to improve drinking water supply in west Wales. With some parts of the network nearing the end of its operational life, this significant investment will see more than 174km of water mains in west Wales cleaned or replaced over the next two years. Some of the first areas to receive investments include Hermon where £500,000-plus will be spent on upgrading the water network, while more than £600,000 will be invested in the drinking water network in Eglwyswrw. Around £650,000 will also be spent in the Pont-siân area in Ceredigion. The widespread investment in the area by the company will also involve replacing more than 5km of the drinking water trunk main in Llechryd and Cilgerran. Last November, Welsh Water experienced a burst on the network in Llechryd which left customers temporarily without water. To minimise the risk of such disruptions to supplies in the future, Welsh Water pledged £5 million to replace this strategic trunk main. This was in addition to the £16 million already planned on improving the resilience and quality of the water supply across the area. Welsh Water managing director of water services Ian Christie said: “With some parts of the water network laid over a century ago, the time has come for us to undertake some essential work to cleanse the pipes or where needed replace whole sections. “We are committed to providing customers with a first class supply and our work here, including the replacement of the Llechryd main after the recent burst, reflects this. “We understand that a large refurbishment programme like this can cause disruption in the short-term, but the long term benefits include reduced leaks, less interruptions to supply and high quality drinking water for the whole community for decades to come.” A version of this article first appeared on wwtonline Source link

Energy Transfer Equity, the US pipelines group, on Friday won a court ruling allowing it to walk away from its agreed takeover of Williams, another pipeline company. The move gives it an escape route from a deal it had pursued vigorously last year, but had come to see as unattractive because of the turmoil in the energy industry. A judge in a state court in Delaware, where Williams is registered, ruled that the company could not force ETE to go through with the takeover, because it had failed to demonstrate that its prospective buyer had not made “commercially reasonable efforts” to complete the deal.  The court ruling was closely watched by dealmakers across the US, as it will provide a blueprint for companies with buyer’s remorse to get out of a deal where the valuation of the target has significantly changed. The decision, which followed a two-day hearing earlier in the week, is the latest twist in an unusually complex and acrimonious dispute between the two companies. ETE’s deal-driven growth strategy has foundered as investors have worried that pipeline businesses, which had been depicted as relatively safe investments with stable earnings, were vulnerable to the fallout from the slump in oil prices. ETE, led by billionaire founder Kelcy Warren, approached Williams about a takeover a year ago, and after initially being rejected in September agreed a deal then valued at $34bn to create one of the largest gas pipeline companies in the US.  Since then, the value of ETE’s units, which it has instead of shares, has dropped 40 per cent, while Williams’ shares have dropped 49 per cent.  The judge in the case observed that because the price offered for Williams had been in cash, which ETE would have to borrow secured on its devalued assets, “the proposed transaction quickly became financially unpalatable” to ETE.  The judge added that it had become clear that ETE “desired an exit from the merger agreement as strongly as it had desired to enter the agreement in the first place”.  40% Drop in value of ETE’s units since September The deal had a complex structure that meant it was unclear what tax would have to be paid. After the deal was announced, ETE’s lawyer, Latham & Watkins, said it could not provide an opinion that the transaction would be tax free, which is a mandatory condition to successfully complete a deal in the US. Williams argued that ETE had breached its contractual obligations by failing to use “commercially reasonable efforts” to secure the opinion from the law firm.  However, the judge ruled that Latham & Watkins “could not in good faith opine that tax authorities should treat the specific exchange in question as tax free”, and Williams had failed to demonstrate that ETE had not done all it should have done to secure that opinion.  The court’s decision to allow ETE to terminate its merger with Williams will add to the record number of deals that have collapsed since the beginning of the year.  According to Thomson Reuters, more than $525bn worth of announced transactions have been killed since the start of the year. Several companies have either walked away from deals because of regulatory reasons or because of a change in the value of the target following a sharp drop in valuations. Source link

Whether you’re dreaming of the perfect man cave, looking for a playroom for the kids, or just want a space to enjoy some time with friends you’ve probably dreamt of what to do with that spare room in your home. The only problem with a man cave is that it often looks just like that, a cave. Maybe with some sports memorabilia. That might be fun for a single guy, but when you have a family (or are expecting company) classing up the joint a bit can go a long way. Even the idea of a “game room” often sounds kind of cheesy. People imagine cheap poker tables, obnoxious leather chairs, and maybe a few other gaudy attractions typical of, say, a Las Vegas casino. But it doesn’t have to be this way. If you’re considering putting together some kind of gaming parlor in your own home we have a few suggestions for how to make it look nice, stylish, and welcoming. Use An Ordinary Table One of the quickest ways to make a gaming room look cheesy is to splurge on an expensive gaming table. These types of furniture tend to look weird, and they also limit your options depending on what games they’re geared toward. Instead, opt for an ordinary, nice table that you would want in a study or lounge. There are plenty of styles of poker table tops that you can buy to fold out over the top of a regular table if you’re playing cards. This way you can also use the ordinary table for a family board game night or a fun dinner party. Versatility is always nice, and in this case it keeps the room looking more attractive in between games. Control The Lighting There tend to be two prevailing styles for gaming room lighting: dim or gaudy. The former is usually an attempt to cultivate a “man cave” atmosphere, and the latter is meant to imitate Vegas back rooms. Instead of opting for either of these, go for versatility again. Tech companies have been working on smart lighting solutions, and the results are very cool and intuitive. You can install lights that you can change according to the mood of the evening or what games you’re playing. It sounds kind of gimmicky, but as long as you don’t go nuts constantly changing the lighting it’s actually pretty nice. Use Tech For Spare Games One of the quickest ways to make a gaming room feel corny is to try to stock it with actual casino games, like a roulette wheel or a cheap home slot spinner. In a home, these are effectively toys. But you can try to incorporate these types of games through technology if you set up a few tablets at a bar counter or side table. It’s actually more fun anyway. Online casino platforms have all kinds of slot games you wouldn’t be able to enjoy on a cheap home machine. There’s a reason slots are the most popular and entertaining games around. And if you ever do want to host a full-fledged casino night, loading up one of these platforms on a few tablets for people to enjoy can actually be a nice touch. Focus On Comfort You should never attempt to decorate a home gaming room according to an image in your head of what a poker table should look like, or how a casino’s back room is organised. Instead, just focus on what looks and feels comfortable. That might mean skipping the big leather loungers and going for chairs with more support and cushion. Or it could mean opting for couches in a lounge corner, rather than high stools and tables. Keep in mind this is a room in your house first, and a gaming center second. These tips should make for a good start. As you focus on final touches and decorat