News



SSE in ‘legally binding’ commitments to Ofgem

Gas and electricity regulator Ofgem said it accepted legally binding commitments from Perth-based energy giant SSE following a Competition Act investigation into whether SSE’s behaviour could have impeded…





Warship go-ahead huge boost for Clyde yards

The UK government has announced that work for eight new Type 26 frigates at Glasgow shipyards will start in the summer of 2017, subject to final contract negotiations. UK…


UK government to appeal Brexit court defeat

The UK government said it will appeal a decision by the High Court that requires it to obtain UK parliamentary approval before starting the “Article 50” process of…


Unquoted bets boost Souter Investments

Souter Investments, the family investment office of Stagecoach Group founder and chairman Brian Souter, said it has generated a net return of 14% per annum since…



Chivas plans new £40m Dumbarton plant

Chivas Brothers, the Scotch whisky and premium gin business of Pernod Ricard, said it plans to invest £40 million in a new state-of-the-art facility at its Kilmalid site…



Aberdeen Council in £370m bond issue

Aberdeen City Council has announced the successful pricing of index linked bonds to raise £370 million to fund investment in the city’s “transformational capital and infrastructure programme.” The…


China’s Evergrande ‘in talks to buy Cala’

Evergrande Group, China’s second-largest property developer, has been unveiled as the company that is in early-stage talks to buy Edinburgh-based upmarket home builder Cala Group for up…



Mactaggart & Mickel eyes England for growth

Glasgow-based housebuilding firm Mactaggart & Mickel Group said its profit before tax rose from £9.8 million to £10.4 million in the year year ending April 30, 2016, while turnover fell slightly from…


Standard Life competes Elevate acquisition

Edinburgh-based Standard Life said it completed the acquisition of AXA Portfolio Services — which trades as Elevate — from AXA UK plc following Financial Conduct Authority consent. “The…


Wood Group renewables firm expands in Asia

Wood Group’s Glasgow-based renewable energy consultancy SgurrEnergy has expanded its operations in Asia by opening an office in Hong Kong. SgurrEnergy said the move will allowing…


Gresham House buys Scots forests for £12m

Specialist asset manager Gresham House said it will acquire a portfolio of five forests in the west of Scotland for £12.1 million as it announced the first close…






Edinburgh’s FreeAgent plans London IPO

Edinburgh-based accounting software firm FreeAgent has announced plans for a flotation on the Alternative Investment Market (AIM) of the London Stock Exchange in November. FreeAgent said…



Standard Life launches corporate bond fund

Edinburgh-based Standard Life Investments (SLI) has launched a short-dated corporate bond fund to invest predominantly in sterling-denominated corporate bonds with a maturity of less than five years….



Andy Murray backs two more startup firms

Scotland’s Wimbledon and Olympic champion Andy Murray has continued his policy of backing early-stage UK businesses as part of his relationship with crowdfunding platform Seedrs. Murray’s latest…



Misconduct costs push RBS to £469m loss

Royal Bank of Scotland reported an operating profit before tax of £255 million in the third quarter — but made an attributable loss of £469 million after restructuring costs, litigation and conduct…


£3.75m for Dundee University biomedical work

Biomedical research at the University of Dundee has received £3.75 million from the Wellcome charitable foundation’s Institutional Strategic Support Fund (ISSF). The funding is for…


UK Government sells more shares in Lloyds

The UK Government said it has made further sales of its shares in Lloyds Banking Group, reducing its remaining shareholding to less than 9%. Lloyds Banking…


RBS issues first polymer note

Royal Bank of Scotland has issued its first polymer note — a £5 note which features illustrations of Scottish poet Nan Shepherd. The £5 is part…


Qualcomm to buy NXP for $38bn

Qualcomm said it will acquire Netherlands-based NXP Semiconductors for $110 per share — about $38 billion — in cash. Including debt, the transaction — the biggest-ever…



New demand for full devolution of Network Rail

The Scottish Government’s transport minister Humza Yousaf has called for full devolution of Network Rail operations in Scotland after a review by EY highlighted weaknesses in Network…


Scotland joins AstraZeneca’s genomics initiative

Biopharmaceutical giant AstraZeneca is to work in collaboration with NHS Scotland, Scottish Universities and the Stratified Medicine Scotland Innovation Centre to create a ground-breaking initiative in genomic…


Sturgeon calls for EU single market coalition

First Minister Nicola Sturgeon said the Scottish Government will work to build an “all-Scotland coalition” of politicians, business and universities to protect the country’s place in…


Clydesdale bids for Williams & Glyn

Clydesdale and Yorkshire Bank owner CYBG has made a bid for Royal Bank of Scotland’s Williams & Glyn branch network after Spain’s Banco Santander called off its talks to purchase…


FanDuel in $6m settlement with Attorney General

New York Attorney General Eric Schneiderman said his office has reached separate $6 million settlements with Edinburgh and Manhattan-based fantasy sports operator FanDuel and its rival DraftKings….



Edinburgh University in Merck licence deal

The University of Edinburgh said it signed a licence agreement with life sciences giant Merck for pioneering fluorescent probe technology “that helps understand how disease progresses.”…


Statutory board for Scots enterprise agencies

The Scottish Government is proposing to create a new Scotland-wide statutory board to co-ordinate the activities of Scottish Enterprise and Highlands and Islands Enterprise, including Scottish…


Sigma in £39m Liverpool regeneration

Edinburgh-based rented housing developer Sigma Capital Group announced the launch of a £39 million regeneration scheme adjacent to Lime Street Station in the centre of the…


Xcite Energy bondholders push for liquidation

Shares of North Sea oil firm Xcite Energy were suspended on Tuesday “pending clarification of the company’s financial position” after it said its principal bondholders rejected a plan to…






EU cash boosts £60m small business funding

More than 20,000 Scottish small and medium-sized enterprises (SMEs) are to benefit from a £60 million investment which includes £24.4 million of European Regional Development Fund (ERDF) money, the…


New CEO at Edinburgh Research & Innovation

A new chief executive officer, George Baxter, joined Edinburgh Research & Innovation (ERI) on Monday “to spearhead commercialisation and industry engagement activity at the University…


Wood Group wins Newfoundland contract

Aberdeen-based oil and gas services giant Wood Group said it secured a five year contract to provide engineering, procurement, construction and maintenance services to the Hibernia…




IFS warns UK finances facing £14bn shortfall

The Institute for Fiscal Studies (IFS) warned the UK government is facing a shortfall of up to £14 billion in public finances for the 2016−17 financial year. “At the…




Record £36m income at SE investment arm SIB

The investment activity of the Scottish Investment Bank (SIB) generated a record income of £35.7 million during 2015-16 following 12 successful exits. “This is a positive signal of the…



PwC report examines UK regional visas

Consultants PwC have produced a report, commissioned by The City of London Corporation, which examines the possibility of creating a “regional visa” for non UK nationals…


Stagecoach rolls out contactless bus travel

Perth-based Stagecoach, Britain’s biggest bus operator, announced it will introduce contactless bus travel on all of its regional bus services across the UK by the end of…


ScotRail targets performance with ‘Golden Trains’

The ScotRail Alliance — the partnership between Abellio ScotRail and Network Rail Scotland — has published details on how it plans to improve train service performance in ScotRail following heavy…


Draft bill published for second referendum

A draft bill “giving Scotland the ability to reconsider the question of independence” before the UK leaves the EU has been published “for consultation” by…


Saudi Arabia in record $17.5bn debt sale

Saudi Arabia has completed the biggest ever emerging market bond sale by selling $17.5 billion of debt securities in the Saudi government’s first international offer, according to…




Go-ahead for Lammermuir Hills wind farm

The Scottish Government said it has granted planning consent for a new 19-turbine wind farm called Aikengall IIa to be located in the Lammermuir Hills between East Lothian and…