News

Menzies faces new demand to break in two

Edinburgh-based aviation logistics and news distribution company John Menzies is facing a new demand from investors to split the firm in two, according to Reuters. The fresh demands…



Fishermen’s Federation pushes anti-EU case

The Scottish Fishermen’s Federation (SFF) has outlined its opposition to Scotland remaining in the European Union despite the vow by First Minister Nicola Sturgeon to “protect…


EnQuest shares up amid North Sea discovery

Shares of North Sea exploration firm EnQuest rose about 5% after it announced encouraging results fom its Central North Sea drilling programme.  Neil McCulloch, EnQuest’s president, North…


Wood Group sticks with guidance of 20% fall

Aberdeen-based oil and gas services giant Wood Group said it was sticking to the guidance of full year 2016 earnings before interest, taxes and amortization (EBITA) of…


Chief operating officer Jenkins to leave Weir

Glasgow-based engineering firm Weir Group said chief operating officer Dean Jenkins would step down from its board on September 30 and his employment with the group will cease on December 31….



New property, landfill taxes raise £572m

The first annual receipts for Scotland’s new Land and Buildings Transaction Tax and Scottish Landfill Tax showed £572 million was collected in 2015-16 — about…


Lothian Buses revenue up 5.3% to £142m

Lothian Buses — 91% owned by the City of Edinburgh Council — saw revenue rise 5.3% to £142 million in 2015 and net profit fall to £6.4 million from…



Stagecoach revenue up 20% to £3.8bn

Perth-based rail and bus giant Stagecoach Group said its revenue for the year to April rose more than 20% to £3.8 billion and profit before tax excluding exceptional items rose £2.4 million…



KPMG Audit investigated over HBOS

The Financial Reporting Council (FRC) said it has started an investigation into the conduct of KPMG Audit Plc’s audit of HBOS for the year ended December…




Wood Group wins big Brazil contract

Aberdeen-based energy services giant Wood Group said it won a multimillion dollar contract to provide engineering and design and procurement services to South Atlantic Holding, owned…


Ex-National Express exec joins Stagecoach board

Perth-based bus and rail giant Stagecoach Group said it would propose former National Express executive Ray O’Toole for election as a non-executive director of the company at its annual general…


Osborne: there may be trouble ahead

UK finance minister George Osborne tried to calm financial markets on Monday morning following the turmoil that greeted Britain’s narrow vote to leave the EU — but the…






Business Stream buys Southern Water business

Edinburgh-based Business Stream, a subsidiary of state-owned Scottish Water, said it bought the non-domestic customer base of Southern Water to strengthen its position as it prepares to…



Weir sells businesses for £36.7m; orders down

Glasgow-based engineering firm Weir Group said it is selling two renewables focused businesses — American Hydro Corporation and Ynfiniti Engineering Services — for up to £36.7 million….


Alexander Dennis sales up 20% to £602m

Falkirk-based bus maker Alexander Dennis enjoyed a 20% increase in sales to £602 million and a £10 million increase in profit before tax to £23 million in the…



Smart Metering wins First Utility deal

Glasgow-based Smart Metering Systems (SMS) said it signed a “framework agreement” with First Utility as its “preferred domestic smart meter asset provider.” First Utility currently supplies energy to…


Wind farm signs Nestlé power deal

A new wind farm in Dumfries and Galloway has signed a 15-year deal to provide power for about half of Nestlé’s operations in the UK &…


£11.7bn for councils’ net revenue spending

Scotland’s local authorities have set a net revenue expenditure budget of £11.724 billion for spending on all services in 2016-17, the Scottish Government said. That is £153 million…


Outlander helps tourist attractions hit 6.2m

Scottish tourist attractions have recorded a 3% rise in visitors, the fourth consecutive year of growth, the Scottish Government said. Association of Scottish Visitor Attractions…


O’Shea to step down at Edinburgh University

Professor Timothy O’Shea, principal and vice-chancellor of the University of Edinburgh, has announced his intention to step down from his role in September 2017. O’Shea took…



Standard Life Investments launches US fund

Edinburgh-based fund manager Standard Life Investments has launched an American Equity Income fund to UK-based retail investors. The fund will be run out of the firm’s…



Tesco sells Dobbies for £217m

Tesco said it sold Midlothian-based Dobbies Garden Centres to an investor group led by Midlothian Capital Partners and Hattington Capital for £217 million in cash….


Wood Group acquires EESL business

Wood Group has acquired the trade and assets of Enterprise Engineering Service Limited’s (EESL) Aberdeen-based fabrication and manufacturing business following the announcement on May 26 that EESL…



Standard Life’s pension leads charge into bonds

The average FTSE 100 company’s defined benefits pension scheme saw its asset allocation to bonds increase to 61% in the year to December 31, 2015, according to recent research by Jardine…



Faroe shares up amid North Sea discovery

Shares of Aberdeen-based Faroe Petroleum, the independent oil and gas company, rose more than 5% after it announced an oil and gas discovery in the Faroe-operated…


£2bn council tax collected in last year

The Scottish Government said £2.025 billion of council tax — 95.7 % of the bills issued — was collected in Scotland in the year to March 31, 2016. That brings…



Unemployment falls by 11,000

Unemployment fell by 11,000 to 160,000 in Scotland over the last quarter, according to the UK Office for National Statistics (ONS). Scotland’s jobless rate is now…



Microsoft to buy LinkedIn for $26.2bn

Microsoft said it will acquire professional network LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion. The deal would give Microsoft access to LinkedIn’s 433…






Andy Murray invests in three more start-ups

Tennis world number two Andy Murray — who has just reunited with former coach Ivan Lendl — has made three further investments in British start-up firms via equity…


Holyrood, mobile firms plan coverage boost

The Scottish Government said it will work with mobile operators to improve coverage throughout Scotland mobile even though such connectivity is officially a matter reserved for the UK Government. The…



Investors warm to £209m Energy Assets bid

Livingston-based smart metering firm Energy Assets Group said on Wednesday it agreed to an improved takeover offer of £209 million in cash from funds controlled by US asset manager Alinda Capital…


Greenock’s BPI agrees to be bought for £261m

The board of Greenock-based packaging firm British Polythene Industries (BPI) has agreed for the company to be bought by Northamptonshire-based plastics firm RPC Group for roughly £261…




Ireland-Scotland business network launched

A new organisation aimed at generating even more business between Scotland and Ireland has been created. The Irish Business Network in Scotland has been set up at a time when…


Sheila Rowan named Chief Scientific Adviser

Professor Sheila Rowan of the University of Glasgow has been named as Scotland’s next Chief Scientific Adviser. Rowan is director of the university’s Institute for Gravitational Research. Research…


Napier University in South Gyle expansion

Edinburgh Napier University has bought three landmark buildings totalling 107,255 square feet at South Gyle Crescent on the western edge of the Scottish capital. Royal…