£475m of train improvements at ScotRail

ScotRail has announced a £475 million train improvement programme it said will deliver new trains, thousands of extra seats, at-seat power points and better wifi. When the seven-year programme…



Wood Group buys Ohio-based Kelchner

Aberdeen-based oil and gas services giant Wood Group said it has acquired Springboro, Ohio-based Kelchner Inc, a privately-owned construction and energy field services company, for…



Aggreko pulls out of Rio Olympics

Glasgow-based temporary power supplier Aggreko said on Friday it has withdrawn from the bidding process for the 2016 Rio de Janeiro Olympic and Paralympic Games. Aggreko’s shares…



Graham’s The Family Dairy sales hit £86.5m

Bridge of Allan-based Graham’s The Family Dairy announced that its 2015 sales increased to £86.5 million from £85 million last year. Pre-tax profit rose to £1.6 million in…



RBS Gets Approaches For Williams & Glyn

Royal Bank of Scotland (RBS) said on Wednesday it has received “a number of informal approaches” for its Williams & Glyn branch network. RBS said that while…



Confusion over Aggreko’s Rio Olympics Tender

Confusion surrounds the tender from Glasgow-based temporary power supplier Aggreko to provide generators to the Olympics in Rio de Janeiro next year. Reuters reported that a spokesman…


Sturgeon talks include possible Scots bonds

Scotland’s First Minister Nicola Sturgeon has hinted that the Scottish government is moving closer to issuing Scottish debt — by selling bonds to institutional investors….


RBS chief outlines investment bank plans

Royal Bank of Scotland chief executive Ross McEwan has outlined the company’s fast-moving plans to shrink its global investment banking operations as it moves to…


Edinburgh and Glasgow airports boom

Edinburgh Airport is on course for its busiest year ever and Glasgow Airport is on track to record its strongest year since 2008. Edinburgh had 794,792 passengers in November, a…


Deals help Wood Group weather storm

Shares of Aberdeen-based global energy services giant Wood Group rose almost 3% on Thursday after it published a strong trading update for the year to…


FirstGroup retains TransPennine franchise

Aberdeen-based transport giant FirstGroup has retained the TransPennine Express rail franchise until at least 2023. The franchise will play a key part in delivery of the UK Government’s…


Stagecoach cuts forecast after Paris attacks

Shares of Perth-based bus and train operator Stagecoach fell more than 13% after it said the terrorist attacks in Paris have discouraged people from traveling to major…


Darling joins Morgan Stanley board

Morgan Stanley said on Tuesday night that former UK finance minister Alistair Darling has been elected to its board of directors, effective January 1, 2016….


Gordon Brown joins Pimco advisory board

Former UK Prime Minister Gordon Brown is to join four other “world-renowned experts on economic and political issues” on a new global advisory board at…


NAB details Clydesdale Bank demerger

National Australia Bank (NAB) has urged its shareholders to support a proposed demerger of its Clydesdale and Yorkshire Bank (CYBG) at a special meeting on…





Forestry ‘now £1bn sector with 25,000 jobs’

Scotland’s forestry sector now contributes nearly £1 billion to the economy through forest management, timber processing and recreation and supports about 25,000 jobs, according to a…


Ineos sets up new North Sea business

Grangemouth refinery operator Ineos said it has set up a new oil and gas subsidiary to hunt for opportunities as it completed the purchase of the North Sea natural…


RBS survives central bank stress test

Royal Bank of Scotland (RBS) and Standard Chartered have survived the 2015 stress test set by the Bank of England, the UK’s central bank —…


Renminbi becomes IMF reserve currency

The International Monetary Fund (IMF) has decided that the Chinese renminbi (RMB) should be considered a global “reserve” currency. The move means markets will now prepare for…


Aberdeen assets fall £40bn in past year

Fund manager Aberdeen Asset Management, which specializes in emerging markets and Asia, said its assets under management fell from roughly £324 billion to £284 billion in the…


Alliance Trust chair to leave

Dundee-based investment firm Alliance Trust, under pressure from US activist shareholder Elliott Advisors to restructure, said on Friday that its chair Karin Forseke (above) will leave her post on…


Menzies profit to be £2m less than expected

Edinburgh-based airport cargo handling and news distribution company John Menzies has warned shareholders it now expects full year earnings to be £2 million below previous expectations due partly…


‘Rates must go up’ — Aberdeen’s Young

Interest rates “must go up because they (artificially low rates) are distorting so much” said Hugh Young, managing director of Aberdeen Asset Management Asia. “I mean, it’s not…



HBOS report: execs could face action

The report into the collapse of HBOS has recommended that regulators should consider whether former bosses at the bank should be banned from the finance industry. The review also concluded…


$10trln asset management sector probed

The UK’s Financial Conduct Authority (FCA) is to investigate whether Britain’s $10 trillion (£6.6 trillion) asset management industry delivers value for money for investors. The FCA said…



$20bn Nthn Rock loans sold to Cerberus

The UK government has sold $20 billion (£13 billion) of former Northern Rock mortgages and loans to US private equity firm Cerberus in the largest ever…


FanDuel to challenge NY ban

Edinburgh-based fantasy sports operator FanDuel looks set to legally challenge a “cease-and-desist letter” from New York attorney general Eric Schneiderman that has ordered it to stop accepting bets in New York State….




Scottish Mortgage Targets Unlisted Firms

Scottish Mortgage Investment Trust’s latest results show a big increase in its stakes in companies not listed on the stock market and reveal that more than…





Firms lured to £1bn Dundee Waterfront plan

A growing number of international and UK-based investors and developers are showing interest in the £1 billion Dundee Waterfront regeneration project that will transform 240 acres…






Lloyds chairman causes EU stir

The chairman of Lloyds Banking Group — which includes Halifax Bank of Scotland and Scottish Widows — has caused a stir by arguing there was no…


Scot wins Nobel Prize for economics

Scottish-born Angus Deaton, a professor at Princeton University in New Jersey, has been awarded the Nobel Prize for economics “for his analysis of consumption, poverty,…


CEO Godfrey leaves Investment Association

The Investment Association (IA) — the powerful trade group for the Scottish and UK fund management industry — said Daniel Godfrey is leaving his role as its chief executive,…


Arnold Clark turnover hits record £3.3bn

Glasgow-based Arnold Clark Automobiles, Scotland’s biggest privately-owned company, said its turnover rose almost 12% to a record £3.3 billion in 2014. “It is very fitting that…


Scotch giant Diageo hires new CFO from Xerox

Scotch whisky giant Diageo, the world’s biggest spirits maker, said Kathryn Mikells (pictured) will become its chief financial officer on November 9. Mikells succeeds Deirdre Mahlan, who is returning to…


Watson succeeds Keiller as Wood Group CEO

Aberdeen-based global oil services giant Wood Group said its chief operating officer Robin Watson would succeed veteran Bob Keiller as chief executive officer on January 1….



Scots Govt. launches $118m innovation fund

Scotland’s First Minister Nicola Sturgeon has launched a £78 million ($118m) fund to help the country become an “innovation nation” and push Scottish businesses to develop almost 1,000 new inventions, products and…


73% of Scots businesses want to stay in EU

About 73% of Scottish businesses would vote to remain in the European Union in a referendum, with that figure rising to 90% for large Scottish companies, according…


Edinburgh Council to sell Atria for £100m

The City of Edinburgh Council has put the prestigious Atria office development in the heart of the Scottish capital’s Exchange financial district on the market for…


Stagecoach wins extension of East Midlands

Stagecoach subsidiary East Midlands Trains has won a deal to continue running services between London, the East Midlands and parts of the north of England until…


Glasgow-based Aggreko expands in Canada

Glasgow-based mobile power giant Aggreko has announced an expansion in Canada with an agreement for the £18 million acquisition of ICS Group, a provider of temperature control products….