Scottish Financial Review

Scottish Equity Partners (SEP) said it has made a strategic growth investment in Springtime Technologies, an accounts payable automation software company based in Vienna, Austria….

Macfarlane Group, the Glasgow-based protective packaging, design and distribution firm, said the increase in employers’ national insurance rates and National Minimum Wage announced in the…

Forth Ports Limited, the UK’s third largest ports group, has appointed ex-Stewart Milne Group CEO Stuart MacGregor as chief financial officer (CFO) and as a…

Mutually-owned Nationwide Building Society revealed on Wednesday it made a £2.3 billion gain from its £2.8 billion takeover of listed Virgin Money earlier this year….

Glasgow-based secure cloud services firm Iomart Group plc said its first-half profit before tax fell 77% to £1 million in the six months to September 30…

The Scottish Government’s Finance Secretary Shona Robison should use her limited room for manoeuvre in next week’s Scottish Budget to “help employers with cost pressures…

Edinburgh-based investment group Abrdn has announced big changes in its multi asset and alternatives leadership team. Darren Wolf has been promoted to Global Head of…

Scottish Financial Enterprise (SFE) has called on the Scottish Government to “recognise its income tax policy is not working” and to take action in its…

The largest procurement ever undertaken by Scottish Water has been launched “to transform the country’s public assets to keep taps flowing and protect the environment.”…

By Mark McSherry The Scottish Government is pressing ahead with its plans to go directly to the international bond market for the first time in…

The UK’s Investment Association (IA) is staging a new flagship event, the IA Scottish Investment Conference, at the Edinburgh International Conference Centre (EICC) on Tuesday….

The new CEO of Glasgow-based STV Group plc has delivered his first trading update for investors, with the media firm saying that “performance remains in…

Scottish Enterprise said it has helped Los Angeles-based Launchpad Build Inc. to open a global Research and Development (R&D) hub in Edinburgh’s New Town. Employing…

Rangers Football Club has announced the appointment of Patrick Stewart as its new chief executive officer from December 16. Stewart joins Rangers having most recently…

The fourth annual PwC Green Jobs Barometer says that Scotland continues to lead the UK in the creation of green jobs, with new data showing…

Dundee & Angus College announced it is considering relocating to new facilities in the city centre of Dundee and the town centre Arbroath. The full…

ScottishPower’s Basque parent company Iberdrola said it sold an €800 million hybrid green bond in the Euromarket, as reported to the National Securities Market Commission…

The UK government’s “Scottish Affairs Committee” said it has launched an “inquiry into how the Scottish Government is funded within the UK.” The Westminster MPs said they…

London-based marketing, leafleting and news publishing firm Media Concierge (Holdings) Limited announced on Friday morning that it submitted a “non-binding” takeover proposal to the board…

UK government borrowing in the seven months of the financial year to October, 2024, was £96.6 billion, £1.1 billion more than at the same point…

More than 400 business leaders have backed the Scottish Hospitality Group’s (SHG’s) call for business rates relief in the coming Scottish Government budget. Scottish hospitality…

The Scottish Government has not been transparent enough with the Scottish Parliament or the public about the medium-term financial risks it is facing, according to…

By Mark McSherry Lisbon-based Tekever, which provides “drone-based Intelligence-as-a-Service,” announced that it raised €70 million in a funding round led by Edinburgh-based investment firm Baillie Gifford and…

PwC’s 2024 Asset & Wealth Management Report has reported that 73% of asset and wealth management (AWM) organisations say AI is seen as the most…

By Mark McSherry Baillie Gifford’s troubled £730 million Edinburgh Worldwide Investment Trust has announced changes to its team structure and investment process in an effort to…

The number of overdue invoices on the books of Scottish firms increased by 42.8% in October 2024 when compared to the same period in 2023,…

Question 7 by Australian writer Richard Flanagan has been named winner of the £50,000 Baillie Gifford Prize for Non-Fiction 2024. Flanagan is currently trekking in…

Registers of Scotland (RoS) said the average price of a residential property in Scotland in September 2024 was £198,000, an increase of 5.7% when compared to…

Yatter, the Edinburgh-based advertising agency, has been acquired by Liverpool-based ecommerce specialist Velstar just three years after formation. London-based M&A consultancy Cactus worked with Yatter throughout…

Forres-based orbital launch services company Orbex has announced the extension of its contract with the European Space Agency’s (ESA) Boost! Programme and additional funding of…

Edinburgh-based biotechnology company Cytomos has raised £5 million to scale up production of its cell analysis technology. The oversubscribed funding round was led by existing…

St Andrews based Eos Advisory has led a £7.8 million series A funding round in Bath startup Naturbeads to help the firm further develop its pioneering technology…

Edinburgh-based investment group Abrdn has announced big changes to its senior leadership team — and a new senior leadership structure. Xavier Meyer has been appointed…

US defence and health technology giant Leidos has announced a partnership with the University of Edinburgh to advance AI and data science solutions. “The partnership will…

Linlithgow-based telecoms testing and measurement firm Calnex Solutions plc said its loss before tax more than doubled to £1.3 million in the six months to September…

UK regulator Ofgem has given the green light to the Eastern Green Link 1 project — a 196km, high voltage, bi-directional subsea electricity cable between…

Amanda Young, former chief sustainability officer at Abrdn, has joined the Global Ethical Finance Initiative (GEFI) as a Senior Advisor. “Amanda brings invaluable experience in…

The University of Strathclyde’s former Student Union building on John Street, Glasgow, is to be transformed into a digital, entrepreneurial and social engagement hub, thanks…

Legal & General Assurance Society Limited said it has completed a £34 million buy-in with the Walkers Shortbread Limited Retirement Benefits Scheme, securing the benefits…

The UK government has announced it will introduce legislation next year to pool £1.3 trillion of pension savings into a series of “megafunds” as the new…

The £148.7 million Falkirk and Grangemouth Growth Deal has been signed by Scottish and UK Governments as well as Falkirk Council as part of a package…

Aegon UK has announced its “pivotal role” in the soon-to-be established British Growth Partnership, as highlighted by UK finance minister Rachel Reeves in her inaugural…

Shares of Aberdeen-headquartered FirstGroup rose as much as 6% after it announced an additional £50 million share buyback and raised its 2025 forecast slightly ahead of its…

Scottish law firm Blackadders LLP reported further growth in turnover and profit in its latest accounts as the firm positions itself to make the most of…

Scotch whisky Chivas Regal said it has been appointed Official Team Partner of the Scuderia Ferrari HP Formula 1 team in a new global multi-year…

Scottish Rugby published its 2023-24 Annual Report for the 13-month period to June 30, 2024, which saw “record” revenues of £73.9 million generated — but…

Long distance train operator CrossCountry, part of the Arriva group, has announced a new weekday service linking Scotland, England and Wales by one train for…

Germany-based AviAlliance has announced the acquisition of AGS Airports — owner of Glasgow, Aberdeen and Southampton Airports — from Ferrovial and Macquarie for an enterprise value of…

Lloyds Banking Group (LBG) — parent firm of Bank of Scotland, Scottish Widows and Halifax — will stop recognising the trade union membership of its…

The board of the £160 million Baillie Gifford China Growth Trust plc announced the introduction of a performance related conditional tender offer for 100% of its…

SSE plc, the Perth-based UK electricity infrastructure giant, said its adjusted profit before tax rose 26.4% to £714.5 million in the six months to September…

SSE plc, the Perth-based electricity infrastructure giant, said CEO Alistair Phillips-Davies has informed the board that he intends to retire from SSE during 2025 after more…

Scotland’s first all-female business angel syndicate, Investing Women Angels (IWA), and its sister organisation AccelerateHER, have launched a new initiative designed to attract more businesswomen…

Virgin Media O2 announced it has successfully built the UK’s first “Total Not Spot” site on South Uist in the Outer Hebrides, delivering reliable 4G…

Edinburgh-based investment group Abrdn is selling its Focus Solutions software business as the investment manager’s new CEO Jason Windsor looks to improve its performance, Reuters…

Legendary Scottish fund manager Colin McLean has confirmed that he will retire soon, two years after selling his SVM Asset Management business to Martin Gilbert’s AssetCo….

Royal London Asset Management (RLAM) has announced the appointment of Richard Saldanha, Francois de Bruin and Matt Kirby to its Equity Team, and the appointment…

UK Office for National Statistics (ONS) statistics for the July to September quarter show the unemployment rate in Scotland fell about 1.1% to around 3.3%,…

Social Security Scotland has published its Annual Report and Accounts, showing that it made £1.9 billion in payments to people in Scotland from April 1,…

KPMG’s new Senior Partner in Scotland, Vishal Chopra, has revealed a new-look senior leadership team. Chopra oversees a team of more than 900 people across KPMG’s…

By Mark McSherry The Scottish National Investment Bank (SNIB) said David Ritchie has been appointed to the new role of chief strategy officer at the bank…

Schroders, the UK’s largest standalone fund manager, has announced a new group executive committee (ExCo) as Richard Oldfield officially becomes group CEO, succeeding Peter Harrison. Eight…

Glasgow-based whisky, gin and rum company Edrington — owner of The Macallan, Highland Park and The Glenrothes — has announced the retirement of its chair Crawford Gillies…

Premier Inn parent firm Whitbread has agreed terms with Riverstone Hotels Ltd for a third Premier Inn at Edinburgh Airport. “The 200-bedroom hotel will grow…

London-based LearnPro Group, supported by Apiary Capital, announced the acquisition of Edinburgh-based software firm Infographics UK Ltd. Infographics’ clients include some of the world’s largest…

NatWest Group Plc — formerly called Royal Bank of Scotland — said on Monday it bought back another £1 billion of its shares from the UK…

By Mark McSherry Baillie Gifford’s flagship investment trust, the £13.5 billion Scottish Mortgage fund, said it cashed in some of its huge profits from the…

Scotland Food & Drink announced that former Diageo executive Pamela Scott will be its new chair. Food and drink is Scotland’s biggest employer and the…

The UK’s central bank cut interest rates on Thursday for only the second time since 2020 — but the Bank of England said future reductions are…

Shares of Aberdeen-based consulting and engineering giant Wood plc fell as much as 60% on Thursday after the firm said it agreed to commission an independent review…