Dunfermline ‘has highest house price growth’
Dunfermline has seen the highest house price growth in Scotland on a per square metre basis over the past five years — a roughly 20%…
July 2017
Stan Life votes against PwC as Vodafone auditor
Edinburgh-based Standard Life Investments said it voted its clients’ 465 million shares in Vodafone against Vodafone’s resolution to reappoint PricewaterhouseCoopers (PwC) as Vodafone’s auditors and against…
£5bn Scotch industry needs ‘robust legal protection’
The Scottish Government and the Scotch Whisky Association have urged the UK Government to mount a “robust legal protection” of the £5 billion Scotch whisky industry…
Aberdeen bond helps Brodies to record revenues
Scottish law firm Brodies LLP said its revenues grew 2.4% to a record £66.7 million in its financial year to April 30, 2017. Over the same…
Alliance Trust ‘encouraged’ by external manager start
Dundee-based investment firm Alliance Trust announced results for the six months to June 30 as it makes a transition to its new investment approach with…
Weir H1 revenue tops £1bn amid North America boost
Glasgow-based engineering giant Weir Group said its revenue rose 26% to £1.09 billion in the six months to June 30, 2017, “reflecting both the recovery in…
Aberdeen, Edinburgh to be hardest hit by Brexit
Aberdeen would be the British city hardest hit by Brexit, with Edinburgh not far behind, according to a new study by the think tank Centre…
‘Pollinator strategy’ to protect bees and butterflies
Scottish Natural Heritage is leading a “Pollinator Strategy” to make Scotland a “more pollinator friendly place by protecting indigenous bee and butterfly populations,” the Scottish Government…
£835m deal with EU settles RBS state aid issues
The UK Treasury said the European Commission has accepted in principle the British government’s plans to free Royal Bank of Scotland from an obligation to…
Highland firms want single market, free movement
More than two-thirds of businesses across the Highlands and Islands believe membership of the European single market and free movement of people are important to…
UK financial regulator increases Scotland presence
The UK’s Financial Conduct Authority (FCA) announced the appointment of Edinburgh pensions and insurance veteran Maggie Craig as the Head of Department, Scotland — a…
BrewDog looking to expand to Australia
Aberdeenshire-based craft beer brewer BrewDog has announced plans to build a brewery in Australia and said it is looking for “a kick-ass location” for its…
Stan Life-Aberdeen merger approved by regulators
Standard Life and Aberdeen Asset Management said the UK’s Financial Conduct Authority and Prudential Regulation Authority “have confirmed their approval to enable the merger between…
Oil & Gas Authority launches 30th licensing round
The UK’s Oil and Gas Authority (OGA) has launched the 30th Offshore Licensing Round with 813 blocks or part blocks on offer in mature areas…
Goals in North America venture with Man City owner
East Kilbride-based Goals Soccer Centres said it agreed a strategic 50:50 joint venture with City Football Group, which owns a number of football clubs including Manchester City, New…
Scots manufacturing orders hit 44 year high – CBI
Manufacturers in Scotland reported that new orders rose at the fastest pace in more than 40 years in the quarter to July, driven by record…
Slower decision times on major Scots developments
The average decision time in Scotland for major developments in 2016-17 was 37 weeks, six weeks slower than the average of 31 weeks in the…
Board moves as Virgin Money H1 profit hits £128m
UPDATE 1 — Edinburgh and Newcastle-based challenger bank Virgin Money Holdings on Tuesday announced changes to its board and said underlying profit before tax rose 26%…
Co-op deal helps McColl’s revenue up to £505m
Convenience retailers McColl’s said its revenue rose 7.6% to £504.8 million in the 26 weeks to May 28, 2017, helped by stores acquired from the Co-op. However, profit…
‘Alpha male culture contributed to RBS demise’
Virgin Money CEO Jayne-Anne Gadhia — a former leading executive at Royal Bank of Scotland — said in an interview that the “alpha male” culture…
Miller Homes could be sold for £600m – report
Edinburgh-based Miller Homes is closing in on a sale valuing it at more than £600 million, according to a Sky News report. The report said…
Law firm Maclay combines with global giant Dentons
Leading Scottish law firm Maclay Murray & Spens announced on Friday it is to combine with Dentons, the world’s largest law firm. The combination, expected…
£1bn Edinburgh City Deal to create 21,000 jobs
The £1 billion Edinburgh and South East Scotland City Region Deal has finally been agreed, with the Scottish and UK governments investing £300 million each in…
Article 50 author Kerr joins call to stop Brexit
More than 60 leading public figures in Scotland — including Lord Kerr of Kinlochard, the Scottish peer who wrote Article 50 — have published an open letter…
UK firms pay record £33bn dividends in Q2
UK companies distributed an all-time record £33.3 billion in dividends in the second quarter, beating the previous record of £29.1 billion set in Q2 last…
Grayling: ‘high speed rail benefits Scotland’
The UK government’s Transport Secretary Chris Grayling said Britain’s new high speed rail lines (HS2) between London and the North-West of England will also benefit Scotland….
Weir shares soar on North American recovery
Shares of Glasgow-based engineering giant Weir Group rose more than 7% after it gave an update to its 2017 outlook that “reflects accelerated recovery in North American oil…
Funding for £350m Aberdeen Harbour expansion
Scottish Enterprise is to contribute £11.7 million towards Aberdeen Harbour’s £350 million expansion, supporting the creation of 2,300 jobs by 2026. SE funding is in…
More upheaval at Menzies merger target DX
Courier firm DX Group, currently in the process of merging with the distribution business of Edinburgh-based John Menzies, said it will split its business into two divisions —…
RBS share sale ‘value for money’ despite £2bn loss
A report by the UK’s National Audit Office (NAO) has concluded that the first sale of UK government shares in Royal Bank of Scotland (RBS)…
Head of Student Loans Company ‘suspended’
Steve Lamey, the chief executive of the UK’s Glasgow-based Student Loans Company (SLC), has been suspended pending an investigation, according to reports. No clear reason was…
FanDuel and DraftKings terminate merger
Edinburgh-headquartered FanDuel and Boston-based DraftKings, the two largest daily fantasy sports sites, have terminated their merger agreement. The decision follows the move by the US Federal Trade…
Scotland, Wales ‘won’t support’ EU Withdrawal Bill
The First Ministers of Scotland and Wales said the UK government’s European Union (Withdrawal) Bill is a “naked power-grab” for which the Scottish and Welsh Governments…
North America tourist spend up 40% to £641m
Visitors to Scotland from North America spent £641 million in the 12 months to the end of March 2017, a 40% rise on the previous…
Scots consortium buys Speyside’s Glenallachie
Pernod Ricard said it signed an agreement with a consortium that includes Scotch whisky industry veteran Billy Walker for the sale of Glenallachie Distillery in…
Mega Edinburgh office lease for civil service hub
The largest office leasing deal in Edinburgh for more than 20 years has been agreed following confirmation by the UK Government that it will open…
RBS pays £4.2bn to resolve US mortgage probe
Royal Bank of Scotland said it will pay £4.2 billion to settle one of two US investigations into allegations it mis-sold mortgage-backed bonds. RBS needs to…
Scots unemployment at record low of 3.8%
Scotland’s unemployment rate fell to a record low of 3.8% over the last quarter, down 0.7 percentage points, according to labour market statistics for March to…
Fraud Office probes Wood target Amec Foster Wheeler
UPDATE 3 — Oil and gas services company Amec Foster Wheeler — which has agreed to be taken over for £2.2 billion by Aberdeen-based Wood…
Delay to £1bn Edinburgh City Deal hurts investment
Delays to the £1 billion Edinburgh and South East City Region Deal could cost the Scottish economy crucial investment, Economy Secretary Keith Brown has warned….
ScottishPower to invest £4m a day until 2020
ScottishPower said it will invest £4 million every day until 2020 as it celebrated the official opening of its new headquarters in St Vincent Street,…
Cairn Energy finds oil offshore Senegal
Edinburgh-based oil and gas company Cairn Energy announced the results of the FAN South-1 well in the South Fan prospect offshore Senegal. “The well encountered…
Craneware expects revenue up 16% to $57.8m
Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said in a trading update for the year ended June 30, 2017, that it expects to…
Wood Group wins Maersk contract, creating 200 jobs
Aberdeen-based oil and gas services giant Wood Group said it was awarded a new contract by Maersk to deliver mechanical and management services for the…
Cochrane becomes interim CEO of Carillion
Construction and outsourcing firm Carillion said on Monday it appointed Keith Cochrane — former chief executive of Stagecoach and Weir Group — as its interim…
Scots output rises, employment returns to growth
The Bank of Scotland purchasing managers’ index (PMI) data for June showed a slight increase in Scottish private sector output. The June data extended the…
61% of firms want single market, customs union
About 61% of Scottish businesses want the UK to stay in the European single market and the customs union after Brexit, according to a survey…
Scots job market has ‘best quarter on record’
The IHS Markit Report on Jobs for Scotland for June has indicated a “sharp improvement of labour market conditions.” “Steep growth in demand for both…
Menzies merger firm DX avoids ‘full investigation’
Courier firm DX Group, currently in the process of merging with the distribution business of Edinburgh-based John Menzies, said on Friday that the City of London Police “will not…
Scottish Enterprise CEO Lena Wilson steps down
Scottish Enterprise confirmed that its chief executive Lena Wilson is to step down after nearly eight years in the job. Wilson told the organisation’s employees…
CBI: ‘Stay in single market until Brexit deal’
The Confederation of British Industry (CBI) has warned that the UK needs to stay inside the single market and customs union until a final Brexit…
Brewdog USA appoints Tanisha Robinson as MD
Aberdeenshire-based craft brewer BrewDog said it appointed Tanisha Robinson as managing director of BrewDog USA ahead of the official launch of its 100,000 square foot…
Merkle buys Edinburgh data marketing firm Aquila
US marketing agency Merkle said it acquired Edinburgh-based data analytics firm Aquila Insight. Aquila Insight was founded in 2012 and also has offices in London and Derby….
Vantiv in potential deal to buy Worldpay for £9.1bn
Britain’s largest payment processor and ex-Royal Bank of Scotland firm Worldpay said it agreed to “key terms” of a “possible offer” from US credit card…
Scots economy rebounds to outpace UK growth
UPDATE 2 — Scotland’s gross domestic product (GDP) rose 0.8% in the first quarter of 2017 compared to the previous three months — outpacing the quarterly…
Takeover talk at ex-RBS firm Worldpay lifts shares
Shares of payment processing firm Worldpay Group, sold by RBS to comply with EU rules after its UK state bailout, rose 28% on Tuesday after Worldpay said it received…
Perthshire home sales up to £70m in first half
Almost £70 million worth of homes were sold by member firms of the Perthshire Solicitors Property Centre (PSPC) in the first half of 2017, with some…
Cala ‘on track’ to deliver record £700m revenue
Upmarket home builder Cala Group on Tuesday issued a trading update for the 12 months to June 30 — and said it was on track…
Surprise as Higgins retires from Tesco Bank
Edinburgh-based Tesco Bank sprung a surprise on Tuesday when it announced that its CEO Benny Higgins would retire from Tesco in February 2018. Higgins joined Tesco…
Help to Buy scheme gives Scots economy £1bn boost
The number of households that have purchased a new home through the Scottish Government’s Help to Buy shared equity scheme has exceeded 10,000, according to…
Atlantic salmon to be tagged in conservation move
Hundreds of Atlantic salmon are to be tagged and released back into the wild as part of a new study aimed at increasing the understanding…
Aggreko buys battery storage firm Younicos for £40m
Glasgow-based Aggreko, the world’s largest temporary power firm, announced a £40 million agreement to acquire smart energy and battery storage technology company Younicos. Based in Berlin and…
1,700 Scots jobs secured in £3.7bn warship deal
UK defence secretary Michael Fallon announced the signing of a contract worth £3.7 billion to start building the Royal Navy’s Type 26 Frigates. Fallon said manufacture…