News


Muirfield banned from staging The Open

The Open Championship will no longer include East Lothian links golf club Muirfield on its rota of courses after the club voted to continue its policy of not accepting…


Viridor in £700m council waste recycling deal

Five Scottish local authorities have signed a £700 million partnership deal with recycling and waste management company Viridor. The 25-year agreement will “divert waste from landfill by…


Stirling University in £50m Barclays placement

Barclays has arranged a £50 million private placement for the University of Stirling via a sale of unlisted, private securities to institutional investors. The funding for the university…


CalMac wins £900m ferry contract

State-owned CalMac Ferries has won a new £900 million contract to continue operating the Clyde and Hebrides Ferry Services (CHFS) for eight years from October 1,…


Johnston Press revenue down 13.7%

Newspaper publisher Johnston Press, owner of The Scotsman and the Yorkshire Post, said on Wednesday that daily print sales of its recently-acquired i newspaper peaked at 297,849…


New Scottish Government cabinet unveiled

First Minister Nicola Sturgeon has handed responsibility for enhancing Scotland’s education system and improving opportunities for young people to John Swinney, her longest serving cabinet secretary. Swinney, who…


Menzies chairman retires in latest upheaval

Edinburgh-based airport services and news distribution company John Menzies said on Wednesday that its chairman Iain Napier “informed the company of his wish to retire” after eight years on the…



22% vote against Standard Life bosses’ pay

Almost a quarter of Standard Life shareholders — about 22. 3% — voted against its directors’ remuneration report at its annual meeting on Tuesday. Last week, Standard…


Free WiFi coming to Edinburgh city centre

Edinburgh Council has agreed to a 10-year concession contract with intechnologyWiFi to bring free high-speed WiFi and improved mobile coverage to the Scottish capital’s city centre….





BP doubles stake in North Sea gas megaproject

BP said on Monday it has doubled its interest in the Maersk-operated $4.5 billion Culzean gas development in the UK central North Sea after acquiring an additional interest from JX…








Walker new CEO at Entrepreneurial Spark

Scottish-based business incubator network Entrepreneurial Spark, “the world’s largest free accelerator for start-up and growing ventures,” has promoted co-founder Lucy-Rose Walker to the role of  CEO. It…


Aberdeen plan £40m stadium west of city

Aberdeen Football Club chairman Stewart Milne has revealed plans for a new £40 million stadium and training facility at Kingsford, west of the city and close…



FirstGroup, Stagecoach in East Coast train war

Aberdeen-based FirstGroup has been granted approval by the Office of Rail and Road (ORR) to launch “open access” rail services between London, north-east England and Edinburgh offering an…


Finance and Economy cabinet role to be split

First Minister Nicola Sturgeon said on Wednesday she will appoint her new cabinet next week — and will split the role of the Cabinet Secretary for Finance and Economy…


Standard Life CEO Skeoch cuts his bonus

Edinburgh-based savings and investment giant Standard Life said its chief executive Keith Skeoch voluntarily cut his potential incentive plan from 500% of his salary to 400%. Skeoch’s base salary is £700,000,…



Energy Assets shareholders threaten £198m deal

A group of shareholders who control 22.6% of Livingston-based industrial smart metering firm Energy Assets Group said on Wednesday they would vote against a £198 million takeover deal unless Energy…


Wood Group predicts 20% fall in earnings

Aberdeen-based oil and gas services giant Wood Group said on Wednesday that it expects its earnings before interest, taxes and amortization (EBITA) to December 31, 2016 to…



Stan Life Investments in strategic China move

Edinburgh-based Standard Life Investments’ Hong Kong business has established a strategic relationship with leading Chinese asset manager Bosera Asset Management. The two fund managers have announced the launch of…



Edinburgh Airport April passengers exceed 1m

Edinburgh Airport’s passenger figures for April rose by 8.7% to 1,009,529 with international traffic — up 18.4% — the strongest performer. International flights now make up more than half…




Wood Group wins two new contracts in Iraq

Aberdeen-based energy services Wood Group has won two three -year contracts valued at over $140 million to deliver technical services and expertise to an unnamed international oil…




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…