McColl’s facing administration without ‘solution’
McColl’s Retail Group said on Thursday it may soon be placed into administration “with the objective of achieving a sale of the group to a third-party…
May 2022
AAB merges with all-Ireland accountants FPM
Scotland’s Anderson Anderson & Brown (AAB) has announced a merger with FPM, an all-Ireland independent accountancy and business advisory firm. AAB Group has grown rapidly…
Glasgow’s Met Tower to become £30m tech hub
A £30 million transformation programme has been unveiled by Bruntwood SciTech after it acquired Glasgow’s Met Tower — the old City of Glasgow College building —…
Virgin Money first-half profit soars to £315m
Virgin Money, the Glasgow-headquartered banking group formerly known as CYBG, on Thursday posted a pre-tax profit for the six months ended March 31 of £315…
UK central bank raises rates, warns of recession
The UK central bank on Thursday raised interest rates to their highest since 2009 — hiking borrowing costs by a quarter-point to 1% to fight…
Fed hikes rates, shrinks $9 trillion balance sheet
The US Federal Reserve on Wednesday announced its biggest hike in interest rates since 2000 and announced it would start shrinking its $9 trillion balance…
Schroders wins Nest pension private equity punt
Schroders Capital’s private equity team has been appointed by UK pension scheme Nest to manage its private equity allocation. Nest was set up by the…
Small Scots tech firms get £163m investment
Equity investment into smaller businesses in Scotland’s technology industry reached £163 million by the end of the third quarter of 2021, 36% higher than 2020’s…
Scots companies report ‘large and positive’ gains
All sectors of the Scottish economy recorded “large and positive net balances” for their volume of business in the first quarter of 2022, with this…
Miller Homes raises £815m in junk bond sale
Edinburgh-based house builder Miller Homes has raised £815 million in a bond sale, but banks had to offer investors a higher yield than originally planned, Reuters reported. The deal…
BrewDog CEO to give £100m of his shares to staff
James Watt, CEO and co-founder of Aberdeenshire-based craft brewing firm BrewDog, said he will give up to £100 million of his personal shareholding in the firm…
HSBC shares up amid Ping An break-up pressure
HSBC Holdings plc has seen its share price rise more than 4% in the past few days after its largest shareholder, Chinese insurance giant Ping An, urged…
McColl’s expects shares to be suspended
McColl’s Retail Group announced on Tuesday it expects to request that its shares be temporarily suspended from June 1 after confirming “it will not be in…
Scotland Food & Drink CEO James Withers quits
Industry body Scotland Food & Drink announced that its CEO James Withers has decided to step down after nearly 11 years in post. Withers said…
Scotland takes Russia UEFA Champions League place
Russian Premier League winner Zenit St. Petersburg’s place in the next UEFA Champions League group stage will go instead to the champions of Scotland, according…
£73m sale of Kintore’s STATS collapses
Kintore, Aberdeenshire-based oil and gas pipeline specialist STATS (UK) Limited has confirmed that a deal announced in December to sell 100% of its issued share…
UK tells North Sea to maximize production, reinvest
UK government business minister Kwasi Kwarteng has written to the North Sea oil and gas industry asking it to set out a clear plan to…