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…
May 2016
BT pledges £6bn superfast broadband, 4G spend
BT said on Thursday its broadband and telephone business Openreach and its EE mobile phone network would between them spend £6 billion to extend superfast broadband…
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,…
RBS ‘prepares’ for Brexit; targets £800m cuts
The Royal Bank of Scotland chairman told the company’s annual general meeting that the EU referendum is “generating additional uncertainty” for the UK economy and that…
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…
Trams boost West Edinburgh business parks
Edinburgh’s new tram system, which connects the city centre to Edinburgh Airport on the western edge of the Scottish capital, has boosted demand for business…
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…
British Airways starts Heathrow-Inverness flight
British Airways said it will start new daily flights between Heathrow and Inverness on May 3. It will operate an Airbus A319, with up to 143 seats, on the…
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…
Emerging markets drag on Aberdeen Asset
Weakness in emerging markets took a toll on Aberdeen Asset Management’s results for the six months to March 31, 2016, with revenue, profit and assets…
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…
Pension deficits at £294bn; funding falls to 81%
The collective deficit of the UK’s private sector defined benefit pension schemes has grown to £294 billion from £262 billion in the past year, with funding levels falling from 83%…
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…
England’s North ‘needs investment, devolution’
A NatWest real estate report on “Building Momentum: The Northern Powerhouse” said the economic success of the North of England depends on collaboration, innovation and…