Macfarlane to buy Greenwoods for up to £16.75m
Glasgow-based packaging firm Macfarlane Group said it conditionally agreed to acquire the packaging business and selected assets of Nottingham-based Greenwoods Stock Boxes Limited and 100% of its…
2017
STV secures £60m credit with Santander, Barclays
Glasgow-based media firm STV Group plc said on Friday it secured an extension of its £60 million revolving credit and overdraft facility. STV said the…
UK asset management up 20% to £6.9 trillion
The UK Investment Association’s first annual asset management survey following the UK’s decision to leave the EU reveals assets under management in the UK increased…
ScotRail to trial ‘fastest train wi-fi in the world’
ScotRail commuters riding between Edinburgh and Glasgow are set to trial “the fastest in-train wi-fi service in the world.” ScotRail is collaborating with Cisco, CGI,…
FCA rejects call to publish full RBS report
The UK’s Financial Conduct Authority (FCA) has rejected calls to publish a report into allegations that Royal Bank of Scotland’s Global Restructuring Group (GRG) bankrupted…
Shareholders OK Catterton stake in Innis & Gunn
Edinburgh-based craft beer company Innis & Gunn said that holders of 99% of its ordinary shares voted to accept an offer of investment in the business…
Carney says chance of UK rate rise has grown
Bank of England Governor Mark Carney said in a television interview that the possibility of the first British interest rate rise in 10 years had…
Work starts on South of Scotland Enterprise Agency
A South of Scotland Economic Partnership will be in place by end of year, the Scottish Government said. The South of Scotland Economic Partnership will…
Scots retail sales up 1.9%; food sales rise 4.1%
Scottish retail sales increased by 1.9% in August on a like-for-like basis compared to August 2016, according to the Scottish Retail Consortium-KPMG Scottish Retail Sales…
Scotland has highest employment rate in UK
Scotland now has the highest employment rate of any UK nation — with the rate growing to a record high of 75.8% over the last…
Scots oil and gas sales up 15.2% to £17.5bn
The approximate sales value of oil and gas produced in Scotland for the financial year 2016-17 rose 15.2% to £17.5 billion, according to new figures from Scotland’s…
Goals shares fall 10% as turnaround takes longer
Shares of East Kilbride-based Goals Soccer Centres fell about 10% on Tuesday after it said its “overall turnaround to profitable growth is taking slightly longer than…
CMA approves Wood Group-Amec Foster deal
The UK’s Competition and Markets Authority (CMA) said it has accepted proposals to resolve competition concerns regarding the £2.2 billion purchase of Amec Foster Wheeler by Aberdeen-based…
Scots farm debt hits record £2.32bn
New statistics from Scotland’s Chief Statistician show the total outstanding bank debt of Scottish farms increased 5% over the past year to £2.32 billion — the highest since records…
Scots private sector output continues to grow
August’s purchasing managers’ index (PMI) survey from Bank of Scotland indicated a moderate increase in Scottish private sector output. Growth softened following the 33-month high recorded…
Breakthrough for offshore wind as costs plummet
Trade association RenewableUK has hailed the “dramatic” fall in the cost of offshore wind in the results announced on Monday of competitive auctions for new contracts…
Scots housebuilder Springfield plans IPO
Scottish housebuilder Springfield Properties announced its intention to seek admission of its ordinary shares to trading on London’s secondary AIM market. Elgin-based Springfield hopes to raise up…
Scots job market improved sharply in August
The latest IHS Markit report on jobs data for Scotland signalled a further improvement in labour market conditions in August. Recruitment consultancies reported sharp increases…
Scotch Whisky distilleries get record 1.7m visits
Scotch Whisky distilleries achieved a record 1.7 million visits last year — up almost 8% on 2015. Distilleries now rank among some of the most…
FanDuel, DraftKings to pay $2.6m to resolve probe
Massachusetts Attorney General Maura Healey said Edinburgh-headquartered FanDuel and Boston-based DraftKings, the two largest daily fantasy sports sites, will pay a total of $2.6 million after…
ICAS chief Colella to be Moore Stephens CEO
Anton Colella, CEO of the chartered accountants’ professional body ICAS, is to leave the organisation to take up a new role as global CEO of international accountancy network…
Film, TV production spend +30% to record £69.4m
Production spend on film and TV in Scotland increased by more than 30% last year to £69.4 million – the highest figures since records began….
Clydesdale owner: SME health at 18-month high
The health of small and medium-sized enterprises (SMEs) in the UK has risen to its highest level in 18 months, according to the SME Health…
£60m fund for new tech, low carbon innovation
The Scottish Government said £60 million will be made available to accelerate innovation in new technologies, including low carbon and digital projects by 2020. The Innovation…
Big changes at Stan Life’s 1825; Julie Scott new CEO
Standard Life’s financial planning business 1825 announced changes to its senior leadership team “as the business enters the next stage of its growth.” Steve Murray will…
£40bn investment hope as North Sea reinvents itself
Almost $6 billion worth of mergers and acquisition deals have taken place in the UK oil and gas sector in the first half of the…
TC BioPharm in deal with University College London
Scottish immunotherapy company TC BioPharm (TCB) said it signed an agreement to work alongside clinical academics at University College London (UCL). The agreement will see…
Deloitte, Fraser of Allander in research partnership
Deloitte and the University of Strathclyde’s Fraser of Allander Institute said they have agreed a partnership “to provide businesses with enhanced insights into the Scottish…
Celtic CEO joins European Club Association executive
Celtic said its chief executive Peter Lawwell has been voted on to the influential executive board of the European Club Association’s 19th General Assembly in…
Higgins to create Scottish National Investment Bank
Tesco Bank CEO Benny Higgins has been appointed by the Scottish Government to create a new Scottish National Investment Bank. Higgins, a colourful character who was…
Revenue up 16% to $58m at Edinburgh’s Craneware
Shares of Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, rose about 3% on Tuesday after it reported revenue up 16% to $57.8 million…
Private equity firm bids for 27.9% of Innis & Gunn
Edinburgh-based independent craft beer company Innis & Gunn said on Tuesday that Greenwich, Connecticut-based private equity firm L Catterton has made an offer to invest in the…
North Sea oil field startups ‘to hit 10-year high’
The UK North Sea is on track for the biggest year of oil and gas field startups in a decade, according to data from Edinburgh-based…
Scotland voted most beautiful country in world
Scotland has been voted the most beautiful country in the world by readers of Rough Guides. Canada was second, New Zealand was third, Italy was…
Inverness Airport passenger numbers up 23.5%
Inverness Airport saw a 23.5% increase in passenger numbers in the last financial year – up to 829,018 during 2016-17. Inverness recorded the highest monthly…
matchesfashion sale latest win for Scottish Equity
Scottish Equity Partners (SEP) has recorded another success with the sale of matchesfashion.com — the digital international fashion brand backed by SEP — to funds managed by…
After £370m bond, Aberdeen hires markets experts
Following its sale of a £370 million bond, Aberdeen City Council said it has recruited three markets specialists with extensive experience to form the council’s…
SSE’s €600m green bond biggest ever by UK firm
Perth-based energy giant SSE said it sold the biggest ever green bond by a UK company. “The €600 million bond is the first of its kind…
Sturgeon unveils £45m business R&D investment
First Minister Nicola Sturgeon on Thursday revealed plans for a 70% increase in Scottish Government funding for businesses to conduct new research and development (R&D)…
STV cheers shareholders despite revenue, profit fall
Glasgow-based media firm STV Group said it would return £10 million to shareholders over the next 18 months and increase its dividend despite revenue slipping 3%…
Menzies Distribution buys all-electric Gnewt Cargo
Edinburgh-based Menzies Distribution said it acquired London-based Gnewt Cargo, the all-electric delivery firm, for an undisclosed sum. Gnewt, founded in 2008, provides final-mile delivery services…
Nora Senior to chair new Enterprise and Skills board
First Minister Nicola Sturgeon confirmed that Nora Senior, chair of UK regions for global PR firm Weber Shandwick, will chair Scotland’s new Strategic Board for…
Retail blames rates, regulation for 6,400 job losses
The Scottish Retail Consortium (SRC) has blamed a “toxic cocktail” of rising rates and regulatory costs from the Scottish Government for the loss of 6,400 jobs…
Total starts gas production at West Shetland fields
Total said it has started production from the Edradour & Glenlivet gas and condensate fields located in about 300 to 435 metres of water in…
Scots product sales up 33% at Co-op
Figures released by the Co-op show that sales of Scottish products across its 350 stores are up 33% year-on-year. The biggest increase has been seen on…
Scottish Salmon Co. H1 revenue at record £72m
The Scottish Salmon Company (SSC) said its harvest volumes in the first half of 2017 fell to 11,617 tonnes from 13,123 tonnes for the same…
Holyrood permission for Judy Murray tennis centre
The Scottish Government said it intends to grant planning permission in principle for Judy Murray’s proposed tennis and golf centre at Park of Keir in…
BrewDog to give 20% of profits to staff, charities
Aberdeenshire-based craft beer company BrewDog announced that it will in future give away 20% of its profits every year via a “Unicorn Fund.” The Ellon-based…
Forth Ports in Dundee port decommissioning deal
Forth Ports Limited and AF Offshore Decom announced the signing of a heads of agreement with the intent to establish a new joint venture called…
Scotch applies for New Zealand IP protection
Scotch Whisky was one of the first applications to be listed on New Zealand’s register of geographical indications (GIs) — a sign used on wines…
Record 2.7 million attend Festival Fringe shows
More people than ever attended shows at the Edinburgh Festival Fringe this year. By Monday afternoon, with hundreds of performances still to take place, an…
1,400 NHS jobs to be created in Scotland
The Scottish Government said the number of NHS staff in Scotland is expected to increase by more than 1,400 whole time posts in the 2017-18…
Russell: UK must rule out unthinkable Brexit no-deal
Scotland’s Brexit Minister Michael Russell said on Monday the UK Government must rule out an “unthinkable” Brexit no-deal. Russell called on the UK Government to commit to…
New film and TV school to open in Scotland
First Minister Nicola Sturgeon announced a Scottish Government investment to support the National Film and Television School’s (NFTS) plans to set up a base in…
EnQuest shares fall further amid North Sea setback
Shares of North Sea-focused oil producer EnQuest fell for a second day following its update on Wednesday that cut its full-year production forecast amid a slower…
Macfarlane first-half sales up 10% to £89.8m
Glasgow-based packaging firm Macfarlane Group said its first-half sales rose 10% to £89.8 million and profit before tax soared 27% to £2.5 million as recent acquisitions boosted…
Scotland’s deficit falls to £13.3bn – 8.3% of GDP
Scotland’s notional deficit fell by £1.3 billion to £13.3 billion in 2016-17 to stand at 8.3% of GDP — about triple the UK figure of 2.4%….
Scotland and Wales to propose Brexit bill changes
First Minister of Scotland Nicola Sturgeon and First Minister of Wales Carwyn Jones on Tuesday agreed to work together on potential amendments to the UK…
Cairn Energy shares up amid $313m H1 profit
Shares of Edinburgh-based oil and gas company Cairn Energy rose about 5% on Tuesday after it reported a half-year profit before taxation of $312.8 million versus…
Wood Group profit falls 87% amid deal costs
Aberdeen-based oil and gas services giant Wood Group said its profit for the first half of the year fell 86.7% to $6 million amid exceptional…
Total buys $7.45bn Maersk Oil in North Sea push
France’s Total is to buy Maersk’s oil and gas business in a roughly $7.45 billion deal which Total said would boost its North Sea operations and…
Virgin Trains’ Scotland-London business booms
Virgin Trains said it has witnessed an “historic shift” in travel patterns as more Scotland-London passengers “choose train over plane than at any time in…
Edinburgh’s Quartermile 2 sold for £28.5m
UBS Asset Management’s real estate and private markets business completed the acquisition of prime office building Quartermile 2 on the site of the former Edinburgh…
£220m Edinburgh Airport plan takes off
Work is under way on a three-storey extension to Edinburgh Airport’s terminal building — the start of a current £80 million investment plan to help…
RBS chief to tackle ‘too white, too male’ culture
Royal Bank of Scotland CEO Ross McEwan has pledged to help address a lack of diversity in British boardrooms by combating a “too white and…
Wheatley affordable housing funds up to £500m
Wheatley Group, Scotland’s biggest social landlord, said it secured a further £65 million of private investment and that it will return to the capital markets in the…
Whisky, salmon push UK exports to record £10.2bn
The UK’s Food and Drink Federation (FDF) said whisky, salmon and beer helped exports of all UK food and drink grow 8.5% to a record…
Royal London funds up 6% to £106bn
Royal London said its new life and pensions business rose 45% to just more than £6 billion in the first half of 2017, and funds…
Big changes as Macquarie seals Green Bank deal
Australia’s Macquarie Group said on Friday its consortium completed the acquisition of Edinburgh-based UK Green Investment Bank from the UK Government for £2.3 billion. Macquarie said…
RBS ‘close to selling £145m London office’
Royal Bank of Scotland has agreed to sell one of its London office buildings to a division of Quebec’s government pension manager for slightly less than the…