UK govt debt tops £2.5 trillion as interest hits record
The UK’s public sector borrowing (PSNB ex) in December 2022 was £27.4 billion, the highest December figure since monthly records began in January 1993, largely because…
The UK’s public sector borrowing (PSNB ex) in December 2022 was £27.4 billion, the highest December figure since monthly records began in January 1993, largely because…
SSE Thermal announced it is developing a “first-of-a-kind” project in the Humber area of North East England which would unite hydrogen production, storage and power…
Giant trade association Offshore Energies UK (OEUK) has appointed David Whitehouse as its new chief executive, starting on January 1, 2023. OEUK represents 400 companies involved in producing…
UK finance minister Jeremy Hunt on Thursday announced a number of tax increases and proposed tighter public spending in his £55 billion Autumn budget plan….
First Minister Nicola Sturgeon launched the Scottish Government’s “independence economy prospectus” on Monday. Sturgeon said the paper called “Building a New Scotland: A stronger economy with…
The British pound and UK government bonds rose on Monday after new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan — reversing…
By Mark McSherry UK prime minister Liz Truss fired her finance minister Kwasi Kwarteng on Friday — and scrapped parts of their economic package that…
New York-based Stellex Capital Management, a mid-market private equity firm, announced that former Abrdn global head of private equity Mark Redman has joined its senior…
Liz Truss will become the next prime minister of the UK after winning a leadership race for the UK’s Conservative party on Monday. Truss vowed…
Shares of Macfarlane Group, the Glasgow-based packaging, design and distribution firm, fell about 4% on Thursday after it published half-year results warning that it expects…
SSE Renewables and its partner TotalEnergies announced first power generation from the Seagreen offshore wind farm 27km off the coast of Angus in Scotland. The…
ScottishPower has named Vicky Kelsall as the new CEO of its electricity networks business, SP Energy Networks, taking over from Frank Mitchell on his retirement….
SSE Thermal and Equinor have agreed to acquire Triton Power Holdings Ltd from private equity firm Energy Capital Partners for £341 million. SSE Thermal and…
Scotland’s First Minister Nicola Sturgeon announced on Tuesday that the Scottish Parliament will publish an independence referendum bill with a planned date for the vote…
Aberdeen-based bus and rail giant FirstGroup said on Tuesday it signed an extension of its contract to operate Great Western Railway (GWR) — as it announced…
More parts of Scotland have reached “Alert” level for water scarcity in the latest report from the Scottish Environment Protection Agency (SEPA). The agency said…
The UK government on Thursday announced a 25% windfall tax on oil and gas producers’ profits –alongside a £15 billion package of support for UK…
Aberdeen biologics company Elasmogen has secured £8 million investment in a funding round led by BGF and Scottish National Investment Bank, with additional support from existing…
The rebranded Port of Aberdeen has reported a 1.5% increase in turnover to £33.5 million for 2021 — as progress continued with its £400 million expansion…
London-based wealth manager Tilney Smith & Williamson, which is re-branding to Evelyn Partners this summer, has further strengthened its presence in Scotland by adding Capital…
TIGA, the trade association for the UK video games industry, released new data showing that employment in the Scottish video games development industry grew 26%…
A £30 million transformation programme has been unveiled by Bruntwood SciTech after it acquired Glasgow’s Met Tower — the old City of Glasgow College building —…
Kintore, Aberdeenshire-based oil and gas pipeline specialist STATS (UK) Limited has confirmed that a deal announced in December to sell 100% of its issued share…
Scottish tech businesses bounced back in 2021, with 72% of companies reporting increased sales, according to new research from ScotlandIS. This marks a return to…
Aberdeen-based engineering giant John Wood Group plc announced that Robin Watson intends to retire as chief executive. “The process to appoint his successor will now…
ScotWind Offshore Wind Leasing Round partners ScottishPower and Shell are set to invest a total of £75 million “to help the supply chain and businesses support…
Managers of some of the most high profile investment trusts run by Edinburgh-based asset management giant Abrdn have published investment outlooks for their funds as…
The Scottish market for homes worth over £1 million witnessed an “unprecedented level of activity” in 2021, according to Rettie, with a record 419 such…
Edinburgh-based investment group Abrdn and its 60%-owned property and logistics investment fund Tritax announced they will provide up to £2 billion of private funding for…
Edinburgh has 19 of Scotland’s 25 most expensive streets, according to a new report from Bank of Scotland based on Registers of Scotland data. Regent Terrace…
The Scottish Government’s “usual annual borrowing limit to address tax and welfare forecast errors” should be doubled to £600 million “as a starting point” according…
Royal Dutch Shell said on Thursday it has scrapped its current involvement in plans to develop the controversial Cambo oilfield west of Shetland in a…
The board of the £580 million Aberdeen Standard Asia Focus plc fund announced that it has conducted a “comprehensive review” of the company’s long-term strategy…
Shares of John Menzies plc, the Edinburgh-based global aviation logistics specialist, rose about 6% on Tuesday after it published an update on current trading that showed…
The £600 million Baillie Gifford European Growth Trust said on Wednesday it will be seeking shareholder approval to increase its permitted investments in unlisted companies from…
SSE Renewables and Equinor, the joint venture partners co-developing the 3.6GW Dogger Bank Wind Farm in the North Sea, announced that 15-year offtake Power Purchase…
Linlithgow-based telecoms testing and measurement firm Calnex Solutions plc on Tuesday published first-half results “materially ahead of the board’s expectations.” The Linlithgow firm declared its first…
Venture capital (VC) investors ploughed record amounts of money into Scottish scaleup firms over the summer with more than £197 million raised, according to Venture…
Aberdeen-based global engineering group Wood plc said on Friday it has started a strategic review of “the part of its consulting business facing the built environment end…
Bilbao-based green energy giant Iberdrola has confirmed its intention to invest a further £6 billion in offshore wind through ScottishPower’s East Anglia Hub – the…
US consumer electronics retailer Best Buy said it has signed an agreement to acquire Edinburgh and Boston-based Current Health, a “remote care management platform” formerly…
Perth-based Stagecoach Group plc, Britain’s biggest bus operator, said on Tuesday it is still in talks to be taken over by National Express Group Plc and…
Airlines have been invited to bid for a contract to resume “lifeline” flights from Wick John O’Groats Airport, which is operated by Highlands and Islands…
OGUK, which represents the UK’s offshore oil and gas industry, has warned that UK gas production will fall 75% by 2030 without new investment. OGUK warned…
National Express Group Plc announced on Tuesday it is in talks to buy Perth-based Stagecoach in an all-share deal that would value the Scottish transport…
Glasgow-based global intellectual property law firm Murgitroyd Group has continued its international expansion with the acquisition of Hanna Moore + Curley (HMC), one of Ireland’s leading European…
A quarter of a million people in Scotland were setting up or running new businesses in 2020 despite the challenges of the pandemic, according to…
Aberdeen-based global engineering group Wood plc has announced the appointment of Ken Gilmartin as its new chief operating officer (COO) and the latest member of…
The UK is facing a “stark energy choice” in which it must invest in its offshore oil and gas industry “to build energy security, jobs,…
Global company shareholder dividends will rise in 2021 to $1.39 trillion — just 3% below their pre-pandemic peak — according to the latest Global Dividend Index…
The latest estimates of the controversial and highly contested Government Expenditure & Revenue Scotland (GERS) statistics have revealed the full impact of the pandemic on…
First Minister Nicola Sturgeon has written to UK Prime Minister Boris Johnson calling for the UK Government to reassess oil and gas licences already issued…
Orbital Marine Power’s O2, the “world’s most powerful” tidal turbine, has started grid connected power generation at the European Marine Energy Centre (EMEC) in Orkney….
Forth Ports, Scotland’s largest ports operator and owner of seven Scottish ports on the east coast, said on Tuesday it has “intimated” to the Scottish…
Renewable energy company Drax Group said it is kickstarting the planning process to build a new underground pumped hydro storage power station that will more…
Forth Ports has unveiled ambitious proposals for the creation of Scotland’s largest renewable energy hub on a 175 acre site at the Port of Leith. “This…
The Eden Project said on Friday it has signed a memorandum of understanding with the owners of its preferred site for Eden Project Dundee and…
Aberdeen Harbour Board has awarded two new contracts worth £60 million for the construction of its South Breakwater and Crown Wall. Both structures will provide protection…
Norwegian energy firm Equinor and Perth-based networks giant SSE plc have agreed a plan to jointly develop the world’s first 100% hydrogen-fuelled power plant in…
The Borderlands Inclusive Growth Deal was formally signed on Thursday — bringing up to £452 million of fresh investment to the Borderlands area of Scotland…
Work to lay new subsea cables to supply superfast broadband to 15 of Scotland’s most remote island communities will begin this Spring, the Scottish Government…
SSEN Transmission, the SSE subsidiary which owns the electricity transmission network in the north of Scotland, has confirmed that it intends to appeal certain elements of…
Shares of Glasgow-based sausage skin and food collagen products firm Devro rose about 5% on Tuesday after it published results for the year to December 31,…
NatWest Group — formerly known as RBS — said on Friday it intends to begin a phased withdrawal for its Ulster Bank business from the Republic…
Top-rated Aberdeen Standard Investments fund manager Harry Nimmo has made a staunch defence of actively managed funds amid the spectacular growth of “passive” index investing, arguing…
Glasgow-based cloud data centre operator Iomart Group plc announced the appointment of Sharon Mars Leach as its group marketing director “to lead the group’s brand…
A new report from the University of Strathclyde’s Fraser of Allander Institute has outlined the strength of Scotland’s pharmaceutical industry and its value to the Scottish…
A strong final quarter of 2020 saw shares in listed Scottish companies outperform the wider FTSE and AIM All Share indices as they soared 29.61%…
The Brexit fisheries deal negotiated by the UK Government “will mean a fall in the quantity of key fishing stocks” landed by the Scottish fleet,…
The recently-created South of Scotland Enterprise (SOSE) has announced that its permanent chief executive will be Jane Morrison-Ross, currently CEO of ScotlandIS, the organisation for…