Osborne confirms delay of Lloyds share sale

UK finance minister George Osborne confirmed on Thursday the UK government will delay the sale of its remaining stake in Lloyds Banking Group, owner of Halifax, Bank…


Regulators to investigate former HBOS bosses

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) said on Thursday they have decided to start investigations into certain former HBOS senior…



PwC hires former Scots Secretary Moore

PwC has hired former Scottish Secretary Michael Moore to strengthen its business team that advises on devolution issues across the UK. Moore (pictured) will advise PwC’s “Devo Delivery…



RBS £3.6bn hit for pension, litigation, PPI

Royal Bank of Scotland said it will make a £3.6 billion provision to cover pension payments, litigation over mortgage-backed securities and issues connected to payment protection insurance (PPI). RBS also unveiled…



Scots finance ‘needs international women’

Scotland’s financial services industry needs to actively recruit more women from international markets to improve its gender diversity, according to a prominent recruitment firm. In its 2016…


Bailey new CEO at Financial Conduct Authority

Bank of England deputy governor Andrew Bailey has been appointed the new chief executive of the Financial Conduct Authority (FCA), the UK’s top financial markets regulator. Bailey (pictured)…



Plexus shares down 40% after profit warning

Shares in Aberdeen-based oil and gas engineering firm Plexus Holdings fell more than 40% on Monday morning after it said a slowdown in planned activity by its customers…


Scots productivity growth outpaces UK

Productivity growth in Scotland significantly outperformed the UK between 2007 and 2014 as Scottish output continued to catch up with UK levels, the Scottish Government said. Output…


Edinburgh rents overtake Aberdeen

Edinburgh has overtaken Aberdeen as the most expensive Scottish city in which to rent a property, with the capital’s average monthly let rising 5.7% over the…


£209m EU boost for Scotland-Ireland trade

A £209 million EU funding programme to strengthen cross-border business links — in sectors like conservation — between western Scotland, Northern Ireland and the border…



HBOS auditors KPMG face ‘preliminary probe’

The UK’s Financial Reporting Council (FRC) said on Thursday that preliminary enquiries under a “disciplinary scheme” will be made into KPMG’s work as auditors of HBOS just before the bank’s collapse….


Scots company pensions ‘have £4.2bn deficit’

The deficits of Scottish company pensions “remain stubbornly persistent at around £4.2 billion” according to the latest Hymans Robertson’s annual Scottish Pension Index report. Deficits have…


Digital entrepreneur Bilefield joins Stagecoach

Perth-base transport giant Stagecoach Group said digital entrepreneur James Bilefield will join the company as a non-executive director from February 1.“James has an international track record of successfully…


Challenger banks get help from regulators

The UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) on Wednesday launched their New Bank Start-up Unit aimed at encouraging new “challenger banks” to…


Scots employment ‘highest on record’

Latest figures show the highest employment level for Scotland since records began in 1992, taking the number of Scots in work to 2,631,000, according to…


New rules to protect Scots wild salmon

Scotland’s environment minister Aileen McLeod has unveiled new measures from April 1 to regulate the killing of wild salmon in Scotland in order to protect stocks. Among the…



St Andrews Open ‘brought £140m to Scotland’

The 2015 Open Golf Championship at St Andrews brought £140 million of economic benefit to Scotland, according to an independent economic impact assessment commissioned by the R&A. The £140…


Shoveller named MD of Stagecoach UK rail

Perth-based transport giant Stagecoach Group has appointed Tim Shoveller (pictured) as managing director of the group’s UK rail division. The division includes South West Trains, East Midlands Trains,…


IPO price values Clydesdale at up to £2bn

National Australia Bank (NAB) on Monday announced a proposed, wide price range of between £1.75 and £2.35 per share for the initial public offering (IPO) of its…




Scots construction skills shortage continues

Nearly two thirds of Scottish construction businesses are still reporting difficulties in recruitment because of a continued shortage of skilled workers. The Scottish Chambers of Commerce…


Robert Smith new chairman of Alliance Trust

Dundee-based investment trust company Alliance Trust said it appointed veteran Scottish financier and businessman Robert Smith, Lord Smith of Kelvin, as its new chairman. Alliance Trust,…


Scots output lags UK, grows only 0.1%

Scotland’s economy continued to expand in the third quarter of last year — just — but lagged behind the growth rate of the UK, according to…


RBS ‘sell everything’ expert faces bet challenge

Outspoken Australian economist Stephen Koukoulas — known as The Kouk — has challenged Royal Bank of Scotland (RBS) markets expert Andrew Roberts to a bet of A$10,000 to prove Roberts was wrong when…


Menzies chief resigns; two MDs appointed

Edinburgh-based aviation logistics and news distribution company John Menzies said on Wednesday its chief executive Jeremy Stafford had resigned for personal reasons after 15 months in the job. Menzies…


Stan Life ‘increasingly negative’ on China

Edinburgh-based global fund manager Standard Life Investments said its longer-term outlook on China “has become increasingly negative” and that it fears China might not carry out corporate…



Hamburg hedge fund Aquila buys Scots forests

Hamburg-based hedge fund Aquila Capital has bought 3,100 hectares of forest — about 12 square miles — in three locations in Scotland for its institutional investors….




New investment values Skyscanner at $1.6bn

Edinburgh-based travel search firm Skyscanner has announced five new partners who will invest £128 million ($192 million) between them for an undisclosed share in the company….


Busiest year ever for Edinburgh Airport

A 19% year-on-year rise in international passengers in December helped Edinburgh Airport enjoy its busiest year ever in 2015 with more than 11 million passengers. Edinburgh Airport…





Aberdeen buys Liverpool’s Albert Dock for £43m

Aberdeen Asset Management has bought Liverpool’s Albert Dock development ‎– a UNESCO world heritage site that is home to the Tate Liverpool and The Beatles Story — on behalf of…


Stan Life opposes Shell’s $50bn bid for BG

Edinburgh-based Standard Life Investments, a major shareholder in Royal Dutch Shell, said on Friday it would vote against Shell’s $50 billion bid to buy BG Group. David…


‘£700m storm damage to Scots economy’

The storms of December and January have already caused up to £700 million of damage to the Scottish economy, according to insurance experts at consultants PwC….


Wood Group wins Brazil contract

Aberdeen-based energy services giant Wood Group has won a new contract with PetroRio to deliver services to the Polvo A platform in the southern Campos basin, about 100…



Glasgow Uni commissions £40m research hub

The University of Glasgow has commissioned international architecture and design firm HOK and engineering consultants WSP Parsons Brinckerhoff to develop a new £40 million research hub dedicated to…


China rout drags down global stocks

Stock markets fell around the world on Monday following a rout in Chinese shares after weak manufacturing data in the world’s second-largest economy sparked fears of…


No Glasgow-Carlisle trains until February

Virgin Trains said its service between Glasgow and Carlisle has been suspended due to viaduct damage caused by Storm Frank and will not reopen until February…




£3bn Scots housing plan on target

The Scottish Government said around £690 million will be invested in housing in 2016-17 as part of a £3 billion plan to deliver 50,000 affordable homes…



Glasgow-based Minoan boosted by Crete news

Shares of Glasgow-based travel firm Minoan Group rose about 8% after it said the presidential decree required for a joint venture resort it is planning on the Greek…


IndigoVision in profit, but sales disappoint

Edinburgh-based security camera company IndigoVision said its sales were lower than it expected in the second half of this year, mainly due to the delay of a project…


Mega deals push M&A to record $5 trillion

Sixty-nine merger and acquisition (M&A) deals worth $10 billion or more this year have helped propel global M&A volume to a record $5.03 trillion, according…


Scots female employment rate 2nd best in EU

Scotland’s female employment rate is the second best of all 28 European Union countries, according to Eurostat figures covering July 2014 to June 2015. “Earlier this year I…



Renewables now largest electricity generator

Renewable energy is now the biggest contributor to electricity generation in Scotland and has reached a record 38% of total output — higher than nuclear (33%) and fossil fuels (28%) for…