News

Archangels and SIB invest another £3.9m

Edinburgh-based angel investors Archangels have teamed up with the Scottish Investment Bank (SIB) to commit to four further rounds of investment for expanding Scottish firms, with additional funding of…


Stan Life expects more debt market volatility

Edinburgh-based Standard Life Investments has told investors it expects another year of volatility in debt markets — and said it believes the risk of recession “is lower than the market…





Rippon new chief at Worldwide Cancer Research

St Andrews-based Worldwide Cancer Research said it has appointed Dr Helen Rippon as its chief executive to succeed Norman Barrett, who is retiring after eight years with the organization. Previously director…


Centrica sells three wind farms for £423m

A consortium of funds involving Edinburgh-based UK Green Investment Bank and US investment giant BlackRock have bought one wind farm in Aberdeenshire and two off the coast of…


Beijing development bank role for Alexander

Former UK Treasury minister Danny Alexander has been confirmed as one of the five vice presidents of the new Beijing-based Asian Infrastructure Investment Bank (AIIB). The new development…


Faroe makes progress despite oil gloom

Aberdeen-based Faroe Petroleum, the independent oil and gas exploration company active in the UK and Norwegian continental shelves, said it had a year of growth and progress in 2015 despite…



IoD fears BoE ‘stoking debt-fuelled bubbles’

The Institute of Directors has repeated its warnings about “ultra-accommodative monetary policy” after the monetary policy committee of the Bank of England, the UK’s central bank,…



Clydesdale could quickly be involved in deal

Newly independent Clydesdale and Yorkshire Bank (CYBG) might quickly become involved in consolidation deals in the banking sector. “Like others out there, we would be viewed…


Stagecoach, FirstGroup fight for South Western

Perth-based Stagecoach and Aberdeen-based FirstGroup have been shortlisted to compete for the next South Western rail franchise in June 2017. Stagecoach has operated the network under…


Equator takes control of 999 Design Group

Glasgow-based digital marketing agency Equator has acquired a controlling interest in Glasgow and London brand agency 999 Design Group as part of a “major growth strategy.” 999…


Graham’s Dairy in exclusive Starbucks deal

Bridge of Allan-based Graham’s The Family Dairy has signed a deal to exclusively supply milk and whipping cream to all of Starbucks’ 68 stores in Scotland. “Starbucks share our…





Rural land prices fall in Scotland

Scottish rural land prices fell in the second half of 2015 as low prices for crops and commodities took their toll, according a survey by the Royal Institution…





Clydesdale IPO delayed amid rating drama

National Australia Bank (NAB) said the IPO of its Clydesdale and Yorkshire Bank (CYBG) — which had been planned to go ahead Tuesday — has been delayed…



Scottish Friendly in record sales of £25.5m

Glasgow-based Scottish Friendly, Scotland’s largest financial mutual, said it achieved record-breaking sales in 2015 of £25.5 million compared to £21.6 million in 2014. The 18% increase was driven by sales…


Bowleven scraps Tanzania gas deals

Edinburgh-based Bowleven, the Africa focused oil and gas exploration firm, said it will not pursue the proposed acquisition of stakes in gas projects in Tanzania from Aminex. Bowleven…



RBS shortlist to appear on new £10 note

Royal Bank of Scotland said that physicist James Clerk Maxwell, scientist Mary Somerville and civil engineer Thomas Telford have been shortlisted to appear on its new polymer…


Richards to leave Aberdeen to be M&G CEO

Aberdeen Asset Management said its chief investment officer Anne Richards (pictured) will leave the company later this year to become chief executive of M&G Investments, the UK and…



BrewDog says bigger firms want to buy it

Ellon, Aberdeenshire-based craft beer company BrewDog has said bigger companies are interested in buying the Scottish firm but that BrewDog “is not for sale.” BrewDog co-founder James…


£257m revenue at Irn Bru maker Barr

Shares of Cumbernauld-based soft drinks maker A.G. Barr rose about 2% after it said its performance improved in the second half of the year and that revenue…


Half a million passengers for Borders Railway

More than half a million passengers have used the new Borders Railway between Edinburgh and Tweedbank near Melrose in its first four-and-a-half months of service, the Scottish Government…


FirstGroup falls 9% as revenue, profits slip

Shares in Aberdeen-based bus and rail giant FirstGroup fell more than 9% after it said revenues in its third quarter fell by 9.5% due in part to UK flooding and a…


Osborne confirms delay of Lloyds share sale

UK finance minister George Osborne confirmed on Thursday the UK government will delay the sale of its remaining stake in Lloyds Banking Group, owner of Halifax, Bank…


Regulators to investigate former HBOS bosses

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) said on Thursday they have decided to start investigations into certain former HBOS senior…



PwC hires former Scots Secretary Moore

PwC has hired former Scottish Secretary Michael Moore to strengthen its business team that advises on devolution issues across the UK. Moore (pictured) will advise PwC’s “Devo Delivery…



RBS £3.6bn hit for pension, litigation, PPI

Royal Bank of Scotland said it will make a £3.6 billion provision to cover pension payments, litigation over mortgage-backed securities and issues connected to payment protection insurance (PPI). RBS also unveiled…



Scots finance ‘needs international women’

Scotland’s financial services industry needs to actively recruit more women from international markets to improve its gender diversity, according to a prominent recruitment firm. In its 2016…


Bailey new CEO at Financial Conduct Authority

Bank of England deputy governor Andrew Bailey has been appointed the new chief executive of the Financial Conduct Authority (FCA), the UK’s top financial markets regulator. Bailey (pictured)…



Plexus shares down 40% after profit warning

Shares in Aberdeen-based oil and gas engineering firm Plexus Holdings fell more than 40% on Monday morning after it said a slowdown in planned activity by its customers…


Scots productivity growth outpaces UK

Productivity growth in Scotland significantly outperformed the UK between 2007 and 2014 as Scottish output continued to catch up with UK levels, the Scottish Government said. Output…


Edinburgh rents overtake Aberdeen

Edinburgh has overtaken Aberdeen as the most expensive Scottish city in which to rent a property, with the capital’s average monthly let rising 5.7% over the…


£209m EU boost for Scotland-Ireland trade

A £209 million EU funding programme to strengthen cross-border business links — in sectors like conservation — between western Scotland, Northern Ireland and the border…



HBOS auditors KPMG face ‘preliminary probe’

The UK’s Financial Reporting Council (FRC) said on Thursday that preliminary enquiries under a “disciplinary scheme” will be made into KPMG’s work as auditors of HBOS just before the bank’s collapse….


Scots company pensions ‘have £4.2bn deficit’

The deficits of Scottish company pensions “remain stubbornly persistent at around £4.2 billion” according to the latest Hymans Robertson’s annual Scottish Pension Index report. Deficits have…


Digital entrepreneur Bilefield joins Stagecoach

Perth-base transport giant Stagecoach Group said digital entrepreneur James Bilefield will join the company as a non-executive director from February 1.“James has an international track record of successfully…


Challenger banks get help from regulators

The UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) on Wednesday launched their New Bank Start-up Unit aimed at encouraging new “challenger banks” to…


Scots employment ‘highest on record’

Latest figures show the highest employment level for Scotland since records began in 1992, taking the number of Scots in work to 2,631,000, according to…


New rules to protect Scots wild salmon

Scotland’s environment minister Aileen McLeod has unveiled new measures from April 1 to regulate the killing of wild salmon in Scotland in order to protect stocks. Among the…



St Andrews Open ‘brought £140m to Scotland’

The 2015 Open Golf Championship at St Andrews brought £140 million of economic benefit to Scotland, according to an independent economic impact assessment commissioned by the R&A. The £140…


Shoveller named MD of Stagecoach UK rail

Perth-based transport giant Stagecoach Group has appointed Tim Shoveller (pictured) as managing director of the group’s UK rail division. The division includes South West Trains, East Midlands Trains,…


IPO price values Clydesdale at up to £2bn

National Australia Bank (NAB) on Monday announced a proposed, wide price range of between £1.75 and £2.35 per share for the initial public offering (IPO) of its…




Scots construction skills shortage continues

Nearly two thirds of Scottish construction businesses are still reporting difficulties in recruitment because of a continued shortage of skilled workers. The Scottish Chambers of Commerce…


Robert Smith new chairman of Alliance Trust

Dundee-based investment trust company Alliance Trust said it appointed veteran Scottish financier and businessman Robert Smith, Lord Smith of Kelvin, as its new chairman. Alliance Trust,…


Scots output lags UK, grows only 0.1%

Scotland’s economy continued to expand in the third quarter of last year — just — but lagged behind the growth rate of the UK, according to…


RBS ‘sell everything’ expert faces bet challenge

Outspoken Australian economist Stephen Koukoulas — known as The Kouk — has challenged Royal Bank of Scotland (RBS) markets expert Andrew Roberts to a bet of A$10,000 to prove Roberts was wrong when…


Menzies chief resigns; two MDs appointed

Edinburgh-based aviation logistics and news distribution company John Menzies said on Wednesday its chief executive Jeremy Stafford had resigned for personal reasons after 15 months in the job. Menzies…


Stan Life ‘increasingly negative’ on China

Edinburgh-based global fund manager Standard Life Investments said its longer-term outlook on China “has become increasingly negative” and that it fears China might not carry out corporate…



Hamburg hedge fund Aquila buys Scots forests

Hamburg-based hedge fund Aquila Capital has bought 3,100 hectares of forest — about 12 square miles — in three locations in Scotland for its institutional investors….