May 2016

Scottish Building Society balances at £342m

Scottish Building Society announced financial results for the year ended January 31, 2016, showing its savings balances increased 3.1% to £342.1 million and that total assets…



Shell contract secures 500 Wood Group jobs

Aberdeen-based oil and gas services giant Wood Group has been awarded a three year contract extending its work with Shell’s eight UK Continental Shelf offshore assets,…



Aberdein Considine merges with A&S Ireland

Scottish law firm Aberdein Considine said it will merge with Glasgow solicitor estate agent A&S Ireland. The combined businesses, which will trade under the Aberdein Considine brand, will…


Virgin Q1 mortgage lending up 30% to £2.1bn

Challenger bank Virgin Money said it grew its gross mortgage lending by 30% to a record £2.1 billion in the first quarter of 2016 compared to the same period last year….


Aegon buys BlackRock defined contribution unit

Aegon has agreed to acquire BlackRock’s UK defined contribution platform and administration business to strengthen its position in the UK workplace savings market. Aegon said it will acquire £12 billion…


Sainsbury’s Bank income up 5% to £274m

Edinburgh-based Sainsbury’s Bank said its total income rose 5% to £274 million and underlying operating profit increased 4.8% to £65 million in the past year. The bank said it will launch new mortgage…


Standard Life to buy Axa’s Elevate

Edinburgh-based pensions and investment firm Standard Life said it agreed to acquire AXA Portfolio Services Limited — which trades as Elevate — to further strengthen its position as a platform provider…



Strong sales as Collagen changes CEO

Glasgow-based Collagen Solutions, a manufacturer of medical grade collagen biomaterials, appointed Jamal Rushdy as chief executive officer to succeed Stewart White, who has moved to the post of chief…



Macfarlane buys Edward McNeil packaging

Glasgow-based packaging firm Macfarlane Group has continued its acquisition spree with an agreement to buy the packaging business of Edward McNeil Limited. Macfarlane said the deal was…



Big pension fund bond allocation up to 59%

The average FTSE 100 firm’s defined benefits pension scheme saw its asset allocation to bonds increase from 56% to 59% in the year to September 30, 2015, according…



Australian claims to be Bitcoin creator

Australian technology entrepreneur Craig Wright has claimed he is the creator of digital currency Bitcoin. If true, the news would end the years of speculation about the indentity…