December 2017




Investment syndicate Archangels in record year

Archangels, the Edinburgh-based business angel investment syndicate, has celebrated its 25th anniversary in 2017 by leading a record level of investment in Scottish early stage…


ScotRail to blame ‘for only one-third of delays’

Edinburgh-based think tank Reform Scotland has released a briefing paper which says constant discussion about nationalising ScotRail “is a meaningless distraction.” The report called “On The Right…






RBS pays $125m in California MBS settlement

California Attorney General Xavier Becerra announced a $125 million settlement with the Royal Bank of Scotland (RBS) over misrepresentations about residential mortgage-backed securities sold to California’s…






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Ex-PwC partner Cartwright is new ICAS chief

Bruce Cartwright, former PwC partner and head of corporate restructuring, Scotland, has been appointed as the new chief executive of Edinburgh-based ICAS, the global professional…





MacBrayne revenue rises to £195m

Passenger numbers and revenue increased over the past year at ferry operator David MacBrayne Ltd (DML), according to the company’s annual report and accounts. DML…












Wood shares fall 7% after trading update

Shares of Aberdeen-based oil and engineering giant Wood plc — which recently completed the £2.2 billion acquisition of rival firm Amec Foster Wheeler (AFW) — fell 7%…





70,000 affordable homes built since 2007

The Scottish Government said more than 70,000 affordable homes have been delivered since 2007 — a total of 48,813 homes for social rent, including 8,819…



Scots Govt. budget planning ‘short-sighted’ – FAI

The Scottish Government’s budget planning “remains remarkably short-sighted,” according to the latest Economic Commentary from the Fraser of Allander Institute (FAI). David Eiser, Head of Fiscal Analysis…


Glasgow PE firm Maven exits SPS with 3x return

Glasgow-based private equity firm Maven Capital Partners announced its exit from promotional merchandise company SPS (EU) Holdings while “delivering a 3x return on funds invested…




£65m Scots manufacturing institute launched

The new £65 million National Manufacturing Institute for Scotland (NMIS) is to be created at Inchinnan in Renfrewshire, next to Glasgow International Airport. Strathclyde University…








Aberdeen Standard makes China breakthrough

Scottish asset management giant Aberdeen Standard Investments announced that its wholly foreign-owned enterprise (WFOE), Aberdeen Asset Management (Shanghai), secured registration as a private securities investment fund manager…


Graham’s Dairy turnover up 20% to £100m

Bridge of Allan-based Graham’s The Family Dairy said its turnover rose 20% to £100.5 million in the year to March, 2017. Graham’s said it has an exciting…




Wood Group wins GlaxoSmithKline contract

Aberdeen-based engineering giant Wood Group said it won a multi-million dollar contract supporting drug major GlaxoSmithKline in Germany. Wood will provide GSK Vaccines GmbH (GSK),…


Aberdeen Council keeps rating after £370m bond

Aberdeen City Council said it has been recognised for “a strong institutional framework” and “strong track record of operating performance” by credit rating agency Moody’s,…




MPs call for investigation into SSE-Npower merger

The UK’s Business, Energy and Industrial Strategy (BEIS) Committee has written to the Competition and Markets Authority (CMA) calling for an investigation into the proposed merger between the…



Rockwell acquires Edinburgh’s Odos Imaging

Milwaukee-based Rockwell Automation, Inc. has acquired Craigmillar, Edinburgh-based Odos Imaging, a technology company that provides three-dimensional, time-of-flight sensing systems for industrial imaging applications. “We are…



Strong quarter for Scots engineering sector

Trade group Scottish Engineering said in its latest Quarterly Review that Scotland’s engineering sector continues to report increased orders and output despite the political uncertainty…