News

Scottish FE lecturers go on strike

Further education lecturers at colleges across Scotland went on strike on Thursday as a campaign by union EIS “for fair pay and pay equality” in Scotland’s colleges escalated….


Menzies appoints dealmaker Baines to board

Edinburgh-based airport logistics and news distribution company John Menzies — under shareholder pressure to split into two companies — has appointed corporate dealmaker Paul Baines as a non-executive director….


Oil and whisky welcome budget tax breaks

Oil & Gas UK and the Scotch Whisky Association, representing two of Scotland’s most important industries, both welcomed moves on taxation by UK finance minister George…





Scottish unemployment rises to 6.1%

Scotland’s unemployment rate rose by 0.5% to 6.1% — up by 16,000 to 171,000 — in the three months to January 31, according to the Office for National…



Standard Life’s 1825 to buy Almary Green

Standard Life’s financial planning business 1825 said on Tuesday it agreed to acquire Norwich-based independent financial advisers Almary Green, which has assets under advice of around £400 million….


2016 infrastructure projects total £6bn

Infrastructure projects worth almost £6 billion will be under construction throughout Scotland during 2016, and more Scottish employers than before are winning public contracts, the Scottish Government said. Holyrood is…





Miller Homes revenue £500m; profit up 91%

Edinburgh-based Miller Homes said its 2015 revenue rose 29% to £500 million and profit before tax soared 91% to £62 million as low interest rates, improving mortgage availability…


JB Equity backs new animal science company

A new company has been created to maximise the commercial impact of the University of Edinburgh’s pioneering animal science research. The company, Roslin Technologies Ltd, has been…



SSE sells Clyde Wind Farm stake for £355m

Perth-based energy giant SSE said on Monday it agreed to sell 49.9% of its current Clyde Wind Farm in South Lanarkshire to pension fund investors Greencoat UK Wind (UKW)…



Export growth at centre of new trade strategy

The Scottish Government and the country’s enterprise agencies have announced a new “Global Scotland Trade and Investment Strategy 2016-2021” that will focus on “new regional export…


Foreign flights help Scots airports hit record

Edinburgh and Glasgow airports both reported their busiest February on record as international flight traffic in and out of Scotland’s central belt continues to rise. Edinburgh Airport said 770,265…



Nimmo promoted to UK role at KPMG

Prominent Scottish business advisor Blair Nimmo has been promoted to UK Head of Restructuring at KPMG following the departure of Mark Firmin. Nimmo was previously head of…



Holyrood summit to save dairy industry

Rural Affairs Secretary Richard Lochhead will chair a Holyrood summit of leading figures on Tuesday to address the challenges facing Scotland’s dairy industry. Representatives from the Scottish Government,…



Cairn shares up 9% after Senegal well test

Shares of Edinburgh-based oil and gas company Cairn Energy rose at least 9% on Wednesday after it announced the successful testing of its SNE-3 appraisal well offshore Senegal. …





Jann Brown takes on senior role at Wood Group

Aberdeen-based energy services giant Wood Group said Jann Brown — former chief financial officer of Cairn Energy and president of the Institute of Chartered Accountants of Scotland…



Menzies profit falls in turbulent year

Edinburgh-based aviation logistics and news distribution company John Menzies said on Tuesday its reported pre-tax profit fell to £18.2 million in 2015 from £25.7 million the year before amid a turbulent…



Thurso new chair of VisitScotland

John Thurso, former Liberal Democrat Westminster MP for Caithness, Sutherland and Easter Ross, has been appointed the new chair of VisitScotland. VisitScotland has a budget of around…



New £100m storm tunnel making progress

The £100 million Shieldhall Tunnel between Queen’s Park and Govan — the biggest investment in waste water infrastructure in Glasgow for more than a century…


£200m Glasgow Subway contracts awarded

Strathclyde Partnership for Transport (SPT) on Friday awarded £200 million of contracts to the Swiss-Italian consortium of Stadler Bussnang AG and Ansaldo STS Consortium for the supply…


Alliance Trust to address gender diversity

New Alliance Trust chairman Robert Smith on Friday vowed to address the lack of gender diversity on the Dundee-based investment firm’s plc board as he delivered his first…


UK starts sale of Green Investment Bank

The UK Government has started the process to sell off its Edinburgh-based Green Investment Bank (GIB), with analysts predicting it could eventually fetch a total price tag of…


Aggreko profit falls amid commodities slump

Glasgow-based mobile power provider Aggreko said its 2015 revenue fell 3% to £1.56 billion and pre-tax profit fell 13% to £252 million as low commodity prices affected…





Virgin Money profit jumps 53% to £160.3m

Edinburgh-based Virgin Money said on Wednesday it delivered a strong performance in its first full financial year since listing, with underlying profit before tax increasing by 53%…


Tourism industry calls for cut in VAT

The four tourism ministers for the UK, Scotland, Wales and Northern Ireland have joined forces to ask the UK Treasury to consider a reduction of VAT for businesses…


£20m PhD funding for seven Scots universities

Seven Scottish universities are to benefit from £20.2 million of UK Government funding which will give more students the opportunity to study for a PhD and give research projects…



Alexander joins Pinsent Masons as adviser

Former UK Government minister Douglas Alexander has joined international law firm Pinsent Masons as a strategic adviser. Alexander lost his Westminster seat in Paisley and Renfrewshire…



Three RBS bosses buy shares in firm for £1m

Royal Bank of Scotland said its three top bosses spent almost £1 million buying shares in the company just three days after it reported a 2015 loss of £1.98 billion, its eighth…


£50m fund to speed up home building

The Scottish Government has unveiled a package of measures including a new £50 million infrastructure fund to help speed up construction of thousands of homes. A flexible grant…


Cruachan hydro capacity ‘could be doubled’

ScottishPower said it would be possible to double the capacity of its Cruachan Pumped Storage hydro plant near Oban — with investment of £300 million to £400 million —…



Andy Murray invests in five start-up firms

World number two tennis player Andy Murray has made his first 2016 investments in start-up businesses on the crowdfunding platform Seedrs. Murray identified the five…



BPI profit up 7% to £28.6m as it looks to buy

Greenock-based packaging firm British Polythene Industries (BPI) said its operating profit rose 7% to £28.6 million in 2015 helped by the return to profit of its North American operations. BPI…


Moves to conserve crab and lobster stocks

The Scottish Government said new management measures for Scotland’s commercial crab and lobster stocks will be the focus of a new consultation just launched. The consultation proposals…


£64m investment in Dundee Waterfront

The Scottish Government said on Friday it will invest up to £63.8 million in Dundee’s Waterfront development as part of a package agreed by Deputy…



RBS shares fall 8% as it makes £2bn loss

Royal Bank of Scotland on Friday reported a 2015 loss of £1.98 billion, compared with a loss of £3.47 billion in 2014, as litigation and restructuring costs continued to…