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Standard Life competes Elevate acquisition

Edinburgh-based Standard Life said it completed the acquisition of AXA Portfolio Services — which trades as Elevate — from AXA UK plc following Financial Conduct Authority consent. “The…




Dutch fund kick starts £1bn St James revamp

The long-awaited £1 billion redevelopment of the Edinburgh St James Centre will finally get under way with immediate effect after Dutch pension fund asset manager APG agreed…


Faroe Petroleum in oil and gas discovery

Aberdeen-based Faroe Petroleum, the independent oil and gas company, announced an oil and gas discovery at the Njord North Flank in the Norwegian Sea, in…








Hurricane shares up 53% on Shetland tests

Shares of oil firm Hurricane Energy soared 53% after it said tests at the Lancaster field west of Shetland showed “a very significant hydrocarbon column.” Hurricane CEO…



Cairn shares up amid Senegal discovery

Shares of Edinburgh-based global oil and gas explorer Cairn Energy rose 4.5% after it said an appraisal of its “world-class” discovery off the coast of Senegal had significantly increased so-called “2C”…




Whisky boss vows to work with Holyrood on EU

As the Scottish Government focuses on pursuing “all available options” to keep Scotland in the EU, the Scotch Whisky Association (SWA) chief executive David Frost has vowed…









Union calls for North Sea industry summit

Unite, Scotland’s biggest union, has called for a cross-sector oil and gas summit to “plan for the industry’s survival and growth” after Shell announced it will…



BP doubles stake in North Sea gas megaproject

BP said on Monday it has doubled its interest in the Maersk-operated $4.5 billion Culzean gas development in the UK central North Sea after acquiring an additional interest from JX…




Standard Life to buy Axa’s Elevate

Edinburgh-based pensions and investment firm Standard Life said it agreed to acquire AXA Portfolio Services Limited — which trades as Elevate — to further strengthen its position as a platform provider…


Big pension fund bond allocation up to 59%

The average FTSE 100 firm’s defined benefits pension scheme saw its asset allocation to bonds increase from 56% to 59% in the year to September 30, 2015, according…




Collagen Solutions in China joint venture

Glasgow-based Collagen Solutions said it has entered a joint venture agreement with China-based conglomerate Cre8ive. Collagen Solutions’ chief executive said the purpose of the move was…


Record year for Highland and Islands Airports

Scotland’s Highland and Islands Airports Ltd (HIAL) said it handled more passengers than ever in the last financial year. HIAL said it handled 1,437,625 passengers in 2015-16…


Craft breweries sign deal with Asda

Thirteen Scottish craft breweries have signed a deal to supply beers and ciders to Asda stores in Scotland. Asda has teamed up with the Craft…






Parsons Peebles buys Taylor & Goodman

Rosyth-based Parsons Peebles Group, a Clyde Blowers Capital company, said it acquired Reading-based Taylor & Goodman, a fast-growing provider of electromechanical services to the water sector. The acquisition…



Motherwell-based MB Aerospace buys Centrax

Motherwell-based engineering group MB Aerospace has completed the acquisition of Centrax Turbine Components based in Devon, England. It is the first acquisition for MB Aerospace following…


Scottish unemployment rises to 6.1%

Scotland’s unemployment rate rose by 0.5% to 6.1% — up by 16,000 to 171,000 — in the three months to January 31, according to the Office for National…







Scots employment ‘highest on record’

Scotland’s employment rate increased to 74.8% in the third quarter of 2015 — outperforming the UK — and the Scottish employment level of 2.636 million was…





Rippon new chief at Worldwide Cancer Research

St Andrews-based Worldwide Cancer Research said it has appointed Dr Helen Rippon as its chief executive to succeed Norman Barrett, who is retiring after eight years with the organization. Previously director…


Faroe makes progress despite oil gloom

Aberdeen-based Faroe Petroleum, the independent oil and gas exploration company active in the UK and Norwegian continental shelves, said it had a year of growth and progress in 2015 despite…


Plexus shares down 40% after profit warning

Shares in Aberdeen-based oil and gas engineering firm Plexus Holdings fell more than 40% on Monday morning after it said a slowdown in planned activity by its customers…


Challenger banks get help from regulators

The UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) on Wednesday launched their New Bank Start-up Unit aimed at encouraging new “challenger banks” to…


Scots employment ‘highest on record’

Latest figures show the highest employment level for Scotland since records began in 1992, taking the number of Scots in work to 2,631,000, according to…