Articles by Scottish Financial Review


Nish touted as contender for HSBC chairman

Speculation has been mounting in recent days that former Standard Life chief executive David Nish could be a strong internal candidate to succeed fellow Scot Douglas Flint as chairman…



Parkmead looks to buy as it reduces losses

Aberdeen-based independent oil and gas firm Parkmead said it is evaluating more acquisition opportunities to take advantage of low oil prices as it announced it made a £6.7…


Regulator calls for asset management reforms

The Financial Conduct Authority (FCA) has published critical interim findings from its market study into the UK’s £7 trillion asset management industry, saying that “price competition is weak” and that profits remain…






Stan Life risk-based MyFolio funds reach £10bn

Edinburgh-based asset management giant Standard Life Investments (SLI) said its MyFolio range of funds — which enables investors to choose their preferred level of investment risk — reached…


Scots unemployment again below UK level

Unemployment in Scotland fell by 14,000 in the July to September period — and is down 38,000 over the year — to stand currently at 129,000, according…


FreeAgent raises £10.7m in stockmarket debut

Edinburgh-based accounting software firm FreeAgent said its shares floated on the Alternative Investment Market (AIM) of the London Stock Exchange on Wednesday. FreeAgent said it raised £10.7…





Aggreko expects £225m full-year profit

Glasgow-based international mobile power provider Aggreko said in a trading update that it expects its 2016 full year results to be broadly in line with current market…






Wood Group wins $40m ExxonMobil contract

Aberdeen-based oil and gas services giant Wood Group said it was awarded a $40 million contract by ExxonMobil Chemical to provide main automation contractor services for…


Regulator ‘reservations’ on Stan Life India deal

Edinburgh-based insurance and investment giant Standard Life said India’s insurance watchdog had “expressed reservations” about accepting the current terms for the purchase of Max Life Insurance by Standard Life’s Indian joint…






Johnston Press in talks to sell titles

Johnston Press — owner of The Scotsman, the i newspaper and the Yorkshire Post — said it is in late stage discussions with Cambridge-based Iliffe…



Glasgow Airport has busiest October ever

Glasgow Airport reported its busiest October ever as 884,350 passengers travelled through the airport’s doors last month — an annual increase of 5.7%. International traffic in October rose 8.3%…




Edinburgh Airport tops 1m passengers in October

Edinburgh Airport said it had 1,129,720 passengers in October — making it the busiest October ever at a Scottish Airport. Edinburgh Airport, owned by Global Infrastructre Partners —…




Stan Life Investments: Trump brings ‘uncertainty’

Edinburgh-based asset management giant Standard Life Investments (SLI) has told clients that Donald Trump’s US presidential election victory introduces “significant uncertainty to the outlook for government…



EnerMech cranes get £85m contracts boost

Aberdeen-based mechanical engineering group EnerMech said its cranes and lifting division has secured international contract wins, extensions and renewals worth at least £85 million. In Azerbaijan, BP Exploration…




Tesco Bank refunds £2.5m to 9,000 customers

Edinburgh-based Tesco Bank said 9,000 customers were affected by the fraudulent transactions that hit the bank last weekend and that all customers affected were fully reimbursed by…



Weak pound lifts Baillie Gifford flagship fund

Baillie Gifford’s flagship £4.7 billion equity closed-end fund — the Scottish Mortgage Investment Trust — said both its net asset value (NAV) and share price rose 25% on a…


RBS in £400m small business refund scheme

Royal Bank of Scotland said it will set up a £400 million complaints and refund scheme for customers who allege they were mistreated by its “global restructuring group” small…





SSE in ‘legally binding’ commitments to Ofgem

Gas and electricity regulator Ofgem said it accepted legally binding commitments from Perth-based energy giant SSE following a Competition Act investigation into whether SSE’s behaviour could have impeded…





Warship go-ahead huge boost for Clyde yards

The UK government has announced that work for eight new Type 26 frigates at Glasgow shipyards will start in the summer of 2017, subject to final contract negotiations. UK…


UK government to appeal Brexit court defeat

The UK government said it will appeal a decision by the High Court that requires it to obtain UK parliamentary approval before starting the “Article 50” process of…


Unquoted bets boost Souter Investments

Souter Investments, the family investment office of Stagecoach Group founder and chairman Brian Souter, said it has generated a net return of 14% per annum since…



Chivas plans new £40m Dumbarton plant

Chivas Brothers, the Scotch whisky and premium gin business of Pernod Ricard, said it plans to invest £40 million in a new state-of-the-art facility at its Kilmalid site…



Aberdeen Council in £370m bond issue

Aberdeen City Council has announced the successful pricing of index linked bonds to raise £370 million to fund investment in the city’s “transformational capital and infrastructure programme.” The…


China’s Evergrande ‘in talks to buy Cala’

Evergrande Group, China’s second-largest property developer, has been unveiled as the company that is in early-stage talks to buy Edinburgh-based upmarket home builder Cala Group for up…



Mactaggart & Mickel eyes England for growth

Glasgow-based housebuilding firm Mactaggart & Mickel Group said its profit before tax rose from £9.8 million to £10.4 million in the year year ending April 30, 2016, while turnover fell slightly from…


Standard Life competes Elevate acquisition

Edinburgh-based Standard Life said it completed the acquisition of AXA Portfolio Services — which trades as Elevate — from AXA UK plc following Financial Conduct Authority consent. “The…


Wood Group renewables firm expands in Asia

Wood Group’s Glasgow-based renewable energy consultancy SgurrEnergy has expanded its operations in Asia by opening an office in Hong Kong. SgurrEnergy said the move will allowing…


Gresham House buys Scots forests for £12m

Specialist asset manager Gresham House said it will acquire a portfolio of five forests in the west of Scotland for £12.1 million as it announced the first close…






Edinburgh’s FreeAgent plans London IPO

Edinburgh-based accounting software firm FreeAgent has announced plans for a flotation on the Alternative Investment Market (AIM) of the London Stock Exchange in November. FreeAgent said…



Standard Life launches corporate bond fund

Edinburgh-based Standard Life Investments (SLI) has launched a short-dated corporate bond fund to invest predominantly in sterling-denominated corporate bonds with a maturity of less than five years….