Scottish Financial Review

Turnover from red meat processing in Scotland in 2023 is estimated to have risen for a fourth consecutive year — rising 1% to £975 million….

Lloyds Banking Group (LBG) — owner of Bank of Scotland, Scottish Widows and Halifax — said it has appointed Rohit Dhawan to the newly established…

Dubai-based firm Sidara said on Monday it does not intend to make a firm offer for John Wood Group plc, the Aberdeen-based engineering and consulting giant, “in…

Glasgow-based property developer Ambassador Group said it has obtained approval for the “tranformational redevelopment” of the iconic Craigforth Campus site near Stirling that was previously occupied…

Abrdn Adviser has announced that Verona Kenny will join the firm in the newly created role of Chief Distribution Officer, reporting directly to Noel Butwell,…

A joint report by Professor Mariana Mazzucato of the UCL Institute for Innovation and Public Purpose (UCL IIPP) and Future Economy Scotland co-founder Laurie Macfarlane and has set out…

KPMG’s latest UK Financial Services Sentiment Survey of 150 industry leaders found that 90% of them plan to increase their footprint outside of London in…

Royal London said in its 2024 first-half results on Friday that its assets under management increased to £169 billion from £162 billion at the end…

The Association of Chartered Certified Accountants (ACCA) has called for the Scottish Government to increase the threshold at which charities have to complete an audit…

Whisky and gin makers have told the UK Press Association that the UK government’s “disastrous” 10.1% increase in alcohol duty has “sucked the life out…

The UK’s central bank on Thursday cut interest rates for the first time since early 2020 — from 5.25% to 5% — and signaled that…

The UK investment management industry saw growth in assets under management to £9.1 trillion in 2023 from £8.8 trillion in 2022, according to the latest…

John Wood Group plc, the Aberdeen-based engineering and consulting giant, announced on Wednesday another extension to the “Put Up Or Shut Up Deadline” for Dubai-based firm…

Edinburgh-based golf technology firm Shot Scope has raised $8.5 million in a Series B funding round led by Guinness Ventures, which invested $4 million. Through…

Standard Life owner Phoenix Group and global investment manager Schroders have announced an agreement to form a new strategic partnership called Future Growth Capital (FGC). FGC has…

McGill’s Bus Group has appointed Tony Williamson and Robbie Drummond to leadership roles as exisiting CEO Ralph Roberts becomes McGill’s group chairman. Roberts assumes the…

Independent UK oil and gas producer Viaro Energy confirmed on Tuesday it would buy UK Southern North Sea natural gas assets owned by Shell and Exxon…

By Mark McSherry Baillie Gifford’s £1 billion investment trust Scottish American Investment Company (SAINTS) said its net asset value (NAV) total return was 5.5% for the…

Shares of Weir Group, the Glasgow-based global mining and engineering FTSE 100 firm, rose as much as 3% after it said its full-year operating margins are…

A groundbreaking new quantum research hub that aims to develop technologies for an ultra-secure “quantum internet” of the future is being led by Edinburgh’s Heriot-Watt…

A.G. Barr, the Cumbernauld-based owner of Irn-Bru, Rubicon energy drinks, Boost Drinks, Funkin cocktail mixers and MOMA foods, on Tuesday reported first-half revenue growth of about…

The UK’s new finance minister Rachel Reeves said on Monday she had scrapped the previous government’s plan to sell shares in Natwest Group to the…

NatWest Group — formerly called Royal Bank of Scotland — said it has issued its first Electric Vehicle Green Bond, raising net proceeds of €750…

Edinburgh-based AI fintech Aveni — which creates large language models — has announced one of the largest Series A investments in a Scottish business this year…

Edinburgh-based investment giant Abrdn has forecast that “the real estate correction is now over for core assets” and it expects residential, retail and industrials to…

Glasgow-based fashion firm Quiz plc said on Monday it requires “additional time” to prepare its audited results for the year ended March 31, 2024. In…

The UK’s Financial Conduct Authority (FCA) set out new proposals on Friday to make it easier for companies already listed in London to raise more money…

Shares of NatWest Group plc rose on Friday after it raised its forecast for full-year income and announced the acquisition of £2.5 billion of prime…

Aberdeen-headquartered transport giant FirstGroup plc said on Friday that chairman David Martin “has decided that he intends to retire from the board of FirstGroup plc.” The…

Tulsa, Oklahoma-based global drilling company Helmerich & Payne (H&P) announced a definitive agreement to acquire Aberdeen-based KCA Deutag International Limited for $1.9725 billion in cash. KCA Deutag’s…

Bank of Scotland plc, owned by Lloyds Banking Group, has reported a profit before tax of £427 million for the first half of 2024, compared to…

Revolut, the fintech company with over nine million UK customers and 45 million globally, announced that it has received its UK banking licence “with restrictions”…

Alliance Trust plc, the £3.9 billion Dundee-headquartered fund, said it produced “very strong” investment returns for the six months ended June 30, 2024, with a…

Abrdn’s Interactive Investor (ii) — the UK’s second-largest platform for private investors — said it has unlocked retail investor access to the UK Treasury Bill Market…

Scottish Enterprise is launching a new support programme for businesses that are ready to undertake capital investment but looking to develop leaders, change business processes…

ScottishPower said it has delivered a £1 billion boost for the UK energy supply chain and over £1.1 billion in investment in the first six…

Shell Plc plans to sell leases it won to develop floating wind farms off the coast of Scotland as the energy giant continues to retreat…

Aberdeen-headquartered Proserv has successfully completed a sponsor-backed management buyout (MBO) and is introducing an employee ownership scheme — marking a significant milestone in the company’s…

Vehicle fleet electrification and battery storage firm Zenobē said it has been awarded £41.7 million, alongside a network of bus operators, in phase 2 of…

Edinburgh-based Lario Therapeutics, a biopharmaceutical company developing first-in-class precision medicines for epileptic and neurological disorders, announced it has been awarded a $6 million grant from…

TSB, the UK banking business of Spain’s Sabadell, has reported a statutory profit before tax of £111.6 million for the first half of 2024, a…

The percentage of people in the UK not on track for even a “minimum retirement lifestyle” has worsened from 35% to 38% since 2023, equating…

Women in Scotland are starting and running new businesses at almost the same rate as men for the first time, while one in five entrepreneurs…

Five projects funded by the UK Space Agency across Scotland were announced on Monday during the opening day of the Farnborough International Airshow, providing over…

Edinburgh emerged as the leading UK destination for foreign direct investment (FDI) outside of London and the South East of England, according to the latest…

SSE, the Perth-based electricity infrastructure giant, has announced plans to progress a new pumped storage hydropower scheme at Loch Fearna in Scotland’s Great Glen in a…

Beeks Financial Cloud Group plc, the Glasgow-based cloud computing and connectivity provider for financial markets, said on Monday its full-year revenue for FY24 “is expected to be…

PwC has announced 234 promotions across Scotland, including two new equity partners. The latest round of promotions, which extends to team members across all lines…

Perth-based electricity infrastructure giant SSE said it has been granted planning permission for a solar farm located on lands near its existing 18 turbine Richfield…

Glenrothes-based Seaweed Enterprises Limited has announced its new brand identity House of Seaweed, signifying a pivotal step in the company’s plan to become a leading…

The UK’s Competition and Markets Authority (CMA) said it has cleared the anticipated £2.9 billion cash acquisition of listed bank Virgin Money UK plc by…

The UK’s public sector net debt excluding public sector banks was provisionally estimated at around £2.74 trillion or 99.5% of gross domestic product (GDP) at the…

A global tech outage crippled many industries from airports to finance and hospitals for hours on Friday before services started coming back online. The outage…

Shares of Edinburgh-based Artisanal Spirits Company plc (ASC), owner of The Scotch Malt Whisky Society (SMWS), rose about 7% after it published a trading update for…

Edinburgh-based Craneware plc, a provider of software for the US healthcare market, said it expects revenue for the year to exceed $188 million, which is above…

Estimates sourced from the ONS Labour Force Survey for March to May 2024 indicate that over the quarter the Scottish unemployment rate increased, the employment…

Perth-based electricity infrastructure giant SSE said renewable output in its first quarter was 60% higher than the same period last year “reflecting a return to…

Deputy First Minister Kate Forbes on Wednesday joined Scottish Enterprise chief executive Adrian Gillespie to announce an £8 million grant contribution to the construction of…

Sue Dawe has been confirmed as chair of Scottish Financial Enterprise (SFE), the member body for Scotland’s large financial and related professional services industry, with immediate…

The Scottish economy is predicted to grow more in 2024 compared with last year, with real GVA expected to be 0.9% higher across 2024 —…

Wood Group of Aberdeen has been awarded a $40 million engineering design contract by Kuraray to build a new sustainable packaging production plant in Singapore. “Addressing…

John Wood Group plc, the Aberdeen-based engineering and consulting giant, said Henrik Melsom has been appointed Senior Vice President of Wood’s Norwegian operations, tasked with growing the…

North Sea oil and gas operators must “take action on well decommissioning to support the UK’s supply chain, clean up their oil and gas legacy…

TotalEnergies and Perth-based energy giant SSE have signed a binding agreement to create a joint venture to establish a new major player in EV charging…

Forth Green Freeport (FGF) said it has appointed former City of London Corporation executive Sarah Murray as the first chief executive of the public-private consortium….

Leading Scottish law firm Brodies LLP has announced its 14th consecutive year of growth, posting revenue of £114.3 million. In the financial year to April…

Scottish Enterprise said it is launching a new £35 million Manufacturing Property Challenge Programme for prospective developers of manufacturing property to create 1,000,000 sq.ft. of…

The North Sea Transition Authority (NSTA) said the search for carbon storage and windfarm sites has received a significant boost with the transfer of valuable…

Scotland’s forestry contributes £1.1 billion to the economy each year and supports more than 34,000 jobs, a new report has found. The independent study, commissioned…

Investor research by independent property advisory firm Lismore Real Estate Advisors has shown that 90% of investors would consider investing in Edinburgh over the second half of…