News


Scottish Building Society balances at £342m

Scottish Building Society announced financial results for the year ended January 31, 2016, showing its savings balances increased 3.1% to £342.1 million and that total assets…



Shell contract secures 500 Wood Group jobs

Aberdeen-based oil and gas services giant Wood Group has been awarded a three year contract extending its work with Shell’s eight UK Continental Shelf offshore assets,…



Aberdein Considine merges with A&S Ireland

Scottish law firm Aberdein Considine said it will merge with Glasgow solicitor estate agent A&S Ireland. The combined businesses, which will trade under the Aberdein Considine brand, will…


Virgin Q1 mortgage lending up 30% to £2.1bn

Challenger bank Virgin Money said it grew its gross mortgage lending by 30% to a record £2.1 billion in the first quarter of 2016 compared to the same period last year….


Aegon buys BlackRock defined contribution unit

Aegon has agreed to acquire BlackRock’s UK defined contribution platform and administration business to strengthen its position in the UK workplace savings market. Aegon said it will acquire £12 billion…


Sainsbury’s Bank income up 5% to £274m

Edinburgh-based Sainsbury’s Bank said its total income rose 5% to £274 million and underlying operating profit increased 4.8% to £65 million in the past year. The bank said it will launch new mortgage…


Standard Life to buy Axa’s Elevate

Edinburgh-based pensions and investment firm Standard Life said it agreed to acquire AXA Portfolio Services Limited — which trades as Elevate — to further strengthen its position as a platform provider…



Strong sales as Collagen changes CEO

Glasgow-based Collagen Solutions, a manufacturer of medical grade collagen biomaterials, appointed Jamal Rushdy as chief executive officer to succeed Stewart White, who has moved to the post of chief…



Macfarlane buys Edward McNeil packaging

Glasgow-based packaging firm Macfarlane Group has continued its acquisition spree with an agreement to buy the packaging business of Edward McNeil Limited. Macfarlane said the deal was…



Big pension fund bond allocation up to 59%

The average FTSE 100 firm’s defined benefits pension scheme saw its asset allocation to bonds increase from 56% to 59% in the year to September 30, 2015, according…



Australian claims to be Bitcoin creator

Australian technology entrepreneur Craig Wright has claimed he is the creator of digital currency Bitcoin. If true, the news would end the years of speculation about the indentity…



Beattie turnover up 17% to £8.6m

Marketing, media and PR group Beattie said it generated record profits of £590,000 and grew turnover by 17% to £8.6 million in 2015. Now headquartered in London, Beattie has eight offices across…



Harper Macleod turnover up 17% to £25.7m

Law firm Harper Macleod said it has increased its share of the Scottish legal market as it announced a record performance for its most recent financial year. The…



Weir shareholders reject directors’ pay deal

Shareholders of Glasgow-based engineering firm Weir Group on Thursday voted down the company’s proposals on directors’ pay packages. Weir shareholders voted 72.4% against two resolutions on directors’…




Cost cutting helps Weir profits; shares up 8%

Glasgow-based engineering firm Weir Group said on Thursday its strong cost reduction measures helped it deliver first quarter profits slightly ahead of expectations, despite a significant reduction in…


Brexit: What would David Hume do?

What would David Hume say on the subject of whether the UK should remain part of the EU? Well, we’ll never know — but the great Scottish philosopher…


Tasmania power crisis to boost Aggreko Q2

Glasgow-based international mobile power provider Aggreko said its underlying revenue for the first quarter was 14% behind last year — but a hydro power shortage in Tasmania could help…


DC Thomson wins three industry awards

Dundee-based publisher DC Thomson won three awards at Wednesday night’s newsawards in London. Nominated for three awards at the event, which recognizes the best in news…







Shepherd and Wedderburn on £6.1bn bond deal

Scottish law firm Shepherd and Wedderburn said it acted alongside Allen & Overy on a £6.1 billion securitisation of residential UK mortgages by US investment firm Cerberus…


Sawers new EHRC Scotland Commissioner

Former Scottish Council for Development and Industry (SCDI) chief executive Lesley Sawers has been appointed Scotland Commissioner of the Equality and Human Rights Commission (EHRC). Sawers is currently executive chair…


PIRC urges rejection of RBS executive pay

Corporate governnance experts Pensions & Investment Research Consultants (PIRC) have urged shareholders of Royal Bank of Sotland to vote against the remuneration report at the RBS…




Collagen Solutions in China joint venture

Glasgow-based Collagen Solutions said it has entered a joint venture agreement with China-based conglomerate Cre8ive. Collagen Solutions’ chief executive said the purpose of the move was…


Record year for Highland and Islands Airports

Scotland’s Highland and Islands Airports Ltd (HIAL) said it handled more passengers than ever in the last financial year. HIAL said it handled 1,437,625 passengers in 2015-16…


Plexus raises $5m in Russian share deal

Aberdeen-based oil and gas engineering services company Plexus Holdings said it raised $5 million via a discounted issue of 6.76 million shares to Russian equipment manufacturer Gusar. Plexus said…



House sale volume up 18.2% – prices fall 8.4%

Registers of Scotland (RoS) said the volume of residential property sales in Scotland rose 18.2% to 19,802 during the January to March quarter compared to the same period last year….


Iberdrola’s ScottishPower fined £18m

ScottishPower, a subsidiary of Basque group Iberdrola, has been fined £18 million after an investigation by UK energy market regulator Ofgem into the Scottish firm’s “complaint resolution, call…


£1.2m investment for Livingston’s Optoscribe

Livingston-based photonic technology company Optoscribe — founded in 2010 as a spin out business from Heriot-Watt University — has received £1.2 million in investment. The fundraising was led by…



Glasgow subway to close for four weeks in July

Strathclyde Partnership for Transport (SPT) said the latest stage of its Glasgow subway modernisation programme will require the suspension of subway services for four weeks from Saturday July…



ICAS membership exceeds 21,000

Membership of the Chartered Accountants’ professional body ICAS has reached a new record of more than 21,000. ICAS has seen a 50% growth in members over the last…



Turner on new Bank of England £20 note

Bank of England governor Mark Carney announced that artist J.M.W. Turner and his painting The Fighting Temeraire will appear on the next £20 banknote due to…


Edinburgh rents up 6.6% to £972 average

Average rents in Scotland’s private rented sector recorded a 2.1% year-on-year growth in the first quarter of 2016 to £767 per month, according to the latest Citylets quarterly…





Scotmid profit up to £5.7m on turnover of £371m

Scotmid said its trading profit for the year ended January 30, 2016, rose £200,00 to £5.7 million as its turnover fell £12 million to £371 million. Scotmid chief executive John Brodie said…


Wood wins $150m North Sea contract extension

Aberdeen-based energy services giant Wood  Group has won a five year $150 million contract extension from Nexen — extending a deal that has been in place since April…