Scottish Financial Review

Aberdeen-based engineering group Wood plc said on Tuesday its subsidiary WGPSN (Holdings) has reached a civil settlement with Scotland’s Civil Recovery Unit “in relation to…

The UK’s Financial Conduct Authority (FCA) announced on Tuesday it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) — formerly Royal Bank of…

The market value of Dublin and San Francisco-headquartered digital payments giant Stripe has soared to $95 billion with a round of funding that took it…

The UK Government said on Monday that the UK Cabinet Office will establish a “second flagship HQ with ministerial offices” in Glasgow “with at least…

Perth-based bus and rail giant Stagecoach Group plc said on Monday it has submitted a court application for a judicial review of what it called…

The Scottish Government has announced plans to deliver 100,000 affordable homes over the next decade — with at least 70% of the houses for social…

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…

Thurso-based lithium-ion battery cell developer AMTE Power on Friday announced the admission of its entire issued and to be issued ordinary share capital to trading…

New statistics released on Friday from the UK’s Office for National Statistics (ONS) show that food and drink exports to the EU fell 63% in…

Private equity firm CVC has announced a “long-term strategic partnership” with Six Nations Rugby through which it will invest up to £365 million for a 1/7th…

UK exports supported around 6.5 million full-time equivalent (FTE) jobs in 2016, or 23% of total UK FTE jobs, according to a new report for…

Standard Life Aberdeen (SLA) has sold independent financial adviser (IFA) platform Parmenion to private equity firm Preservation Capital Partners in a £102 million deal. Parmenion…

Shares of John Menzies plc, the Edinburgh-based global airport services business, rose about 3% on Tuesday despite it publishing results for the year ended December 31,…

Edinburgh-based international oil and gas company Cairn Energy said on Tuesday it plans to sell its stakes in UK North Sea fields Catcher and Kraken…

Edinburgh-based investment giant Standard Life Aberdeen (SLA) revealed on Tuesday its assets under management and administration remained steady in 2020, slipping 1.8% to £534.6 billion….

Glasgow-based Beeks Financial Cloud Group, a connectivity provider for financial markets trading, said on Monday its revenues increased by 24% to £5.29 million, of which…

The Scottish economy remained stuck in a downturn during February, according to the latest Royal Bank of Scotland Purchasing Managers’ Index (PMI) report. “At the…

Prominent Scottish business group the Scottish Council for Development and Industry (SCDI) announced it has launched a proposal for a Company Voluntary Arrangement (CVA) — a formal…

Young female savers face having £100,000 less in retirement income than their male counterparts, according to new data from Scottish Widows. “Lower average earnings, part-time work…

The Scottish job market continued to recover from the effects of the coronavirus pandemic in February, according to the latest Royal Bank of Scotland Report…

A £79.5 million construction contract has been approved for award to build the first opening road bridge over the River Clyde — from Renfrew to…

Edinburgh-based Parsley Box, the “direct to consumer provider of ready meals focussed on the underserved Baby Boomer+ consumer” has announced its intention to seek admission…

Royal London said on Friday its 2020 profit before tax fell 68% to £131 million “reflecting reduced operating profit as well as lower relative returns on…

The board of Glasgow-based mobile power giant Aggreko plc said on Friday it will recommend that shareholders accept a £2.32 billion takeover offer from a newly…

The share price of Baillie Gifford’s high-flying flagship fund, Scottish Mortgage Investment Trust plc, fell another 6% on Thursday to around £10.88 as renewed worries about inflation and…

The Glasgow-based Royal Conservatoire of Scotland (RCS) has been named in prestigious global rankings released this week as one of the world’s top three destinations…

The £3 billion Dundee investment trust company Alliance Trust plc, which uses external fund managers Willis Towers Watson (WTW), announced board changes as it revealed…

KPMG has agreed to sell its UK Restructuring practice to Interpath Advisory, a newly-formed company which is backed by private equity firm H.I.G. Europe and KPMG…

The Trustee of the £80 billion Universities Superannuation Scheme (USS), the UK’s largest private pension fund, has warned that contributions by members and employers “will need to rise…

ClinSpec Diagnostics Limited (ClinSpec Dx), the Glasgow-based developer of liquid biopsies for early detection of cancer, has reached its round two funding target of £3.5…

The UK and the US have agreed a four-month suspension of retaliatory tariffs imposed on UK goods such as Scotch Whisky over a long-running aircraft…

Glasgow-based global engineering and mining giant Weir Group has returned to the FTSE 100 after its share price soared about 50% in the past 12 months amid…

Aston Lark, the chartered insurance broker backed by Goldman Sachs, announced it has continued its rapid expansion through the acquisition of Bruce Stevenson Insurance Brokers….

Aberdeen Standard Investments chief economist Jeremy Lawson has outlined what he called the “missed opportunities” of the UK budget. Lawson said the £40 billion worth…

The Scotch Whisky Association (SWA) said on Wednesday the UK Chancellor has offered some “breathing room” to distillers facing continued US tariffs by freezing spirits…

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…

Royal London has announced the purchase of fintech business Wealth Wizards from Liverpool Victoria, subject to regulatory approval. Royal London is the UK’s largest mutual life,…

Shares of troubled West of Shetland oil and gas explorer Hurricane Energy plc fell another 11% on Tuesday after it published a stock exchange update on…

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,…

The latest data from the EY Financial Services Brexit Tracker shows that UK financial services firms continue to move jobs and assets to the EU…

Glasgow-based global engineering and mining giant Weir Group on Tuesday announced its results for the year ending December 31, 2020, showing revenue stable at almost £2…

Edinburgh-based Craneware, a provider of software for the US healthcare market, said on Monday its revenue increased 6% to $38 million in the six months…

Shares of Glasgow-based packaging firm Macfarlane Group rose about 6% on Monday after it announced the acquisition of GWP Holdings Limited, the owner of GWP Group…

Glasgow-based mobile power giant Aggreko said on Monday its revenue fell about 15% to £1.36 billion in the year to December 31, but the firm reported…

Scottish housebuilding firm Springfield Properties announced that its chairman Sandy Adam “and his connected parties” and his brother James Adam sold four million shares in Springfield…

Scotland’s economy could grow by as much as 4.6% this year according to PwC projections, as the country begins to recover from the slump created…

The University of Edinburgh announced it has completed its divestment from fossil fuels — marking a significant milestone in its plan to become carbon neutral…

Shares of Glasgow-based packaging firm Macfarlane Group rose 9% on Thursday after it said its 2020 sales rose 2.1% to £230 million, profit before tax increased 9.6%…

The £8.3 billion Lothian Pension Fund (LPF), the second largest local government pension scheme in Scotland, said on Thursday its CEO Doug Heron has decided to…

ExxonMobil Corp said on Wednesday it will sell non-operating interest in its UK and North Sea exploration and production assets to private-equity fund HitecVision for…

Investment trust Greencoat UK Wind plc (UKW) said on Wednesday it has acquired the remaining 50% interest in Braes of Doune wind farm in Stirlingshire…

Edinburgh and Manchester-based rented housing developer Sigma Capital Group announced its first PRS (private rented sector) development in Scotland near Perth with Springfield Properties plc as…

Wheatley Housing Group Limited — Scotland’s biggest social landlord — has announced that Alastair MacNish will retire as group chair at its AGM in September. The news…

Shares of Springfield Properties, which is building a number of new communities throughout Scotland, rose about 2% on Tuesday after it published results for the six…

Perth-based SSE Renewables and Spanish renewable energy operator Acciona S.A. said on Tuesday they have signed an exclusivity agreement regarding the formation of a 50-50…

Closed life and pension fund consolidator Phoenix Group, owner of the “old” Edinburgh-based Standard Life Assurance, said on Tuesday it will take ownership of the…

Global company stock dividends fell 12.2% to $1.255 trillion on a headline basis in 2020 after a relatively strong finish to the year, according to the Janus…

The CEOs of AJ Bell, Hargreaves Lansdown and Interactive Investor have joined forces to demand greater access for retail investors to Initial Public Offerings (IPOs)…

The UK Government’s borrowing climbed to £270.6 billion in the first 10 months of this financial year — that’s £222 billion more than in the…

NatWest Group — formerly known as RBS — said on Friday it intends to begin a phased withdrawal for its Ulster Bank business from the Republic…

Shares of NatWest Group — formerly known as RBS — rose about 4% on Friday after it announced that its 2020 loss was smaller than…

Franklin Templeton announced that Kim Catechis, currently head of investment strategy at its Martin Currie business in Scotland, will join the newly launched Franklin Templeton…

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…

Scotland’s salmon farmers have asked Scottish Government ministers to consider financial compensation for fish lost to seal attacks. The Scottish Salmon Producers Organisation (SSPO) published…

The average price of a home in Scotland in December 2020 was £162,983, an increase of 8.4% on December 2019, according to the latest provisional statistics…

NatWest-RBS is in talks to offload private banking subsidiary Adam & Co, according to a report on Sky News. NatWest-RBS is working with Evercore, the…

By Mark McSherry Edinburgh-based international oil and gas company Cairn Energy has filed a case in a US district court to enforce a $1.2 billion…

Scottish Widows Loan Investments said it has provided a £96 million long-term loan facility to Constantine Wind Energy (CWE), one of the largest operators of…

Retail, hospitality, leisure and aviation businesses will pay no rates during 2021-22 under proposals outlined on Tuesday by the Scottish Government. The rates relief move…

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…