Scottish Financial Review

The Scottish government said First Minister Nicola Sturgeon will visit China next month “to promote the growing economic, cultural and educational links between Scotland and…

Royal Bank of Scotland (RBS) is working on “secret plans” to create a standalone digital bank, according to a Sky News report. RBS has assigned…

International law firm Pinsent Masons announced the sale of Cerico, its Glasgow-based online compliance solutions business, to business and financial information firm Dow Jones for…

Standard Life Aberdeen’s head of distribution Campbell Fleming told Money Marketing in a wide-ranging interview that Standard Life Aberdeen is optimistic that it can hold on to the…

Aberdeen Standard Investments and European investment firm 21 Partners on Friday announced the establishment of a new UK based 50:50 joint venture (JV) – 21…

The first ever direct flights from Scotland to China will begin on June 12 following the announcement in Beijing that Hainan Airlines will deliver the…

Sanjeev Gupta’s GFG Alliance, which has already invested more than £500 million in Scotland’s metals and green energy sectors, said it is now investigating plans to…

Prudential plc announced its intention to demerge its UK & Europe business M&G Prudential from Prudential plc, resulting in two separately-listed companies “with different investment…

The Scottish government said overseas Scottish food and drink exports — led by Scotch Whisky — were worth approximately £6 billion in 2017, an increase…

Glasgow-based Smart Metering Systems (SMS) said its 2017 revenue increased 18% to £79.6 million but profit before tax slipped 2% to £18 million in a year of…

East Kilbride-based Goals Soccer Centres said on Tuesday that “unlocking the potential inherent value” within its UK estate will be the number one priority for incoming…

The North Sea operations of Edinburgh-based oil and gas company Cairn Energy helped it give an optimistic outlook amid its 2017 results on Tuesday. Cairn…

Edinburgh-based aviation logistics and news distribution company John Menzies plc said on Tuesday a “sale process” for its Menzies Distribution business “is underway.” Menzies terminated merger talks…

Legal & General Group announced that its Legal & General Capital division acquired the 52.1% of Edinburgh-based Cala Homes which it did not previously own….

The UK government’s Defence Secretary Gavin Williamson announced he is looking to “counter the Scottish Government’s income tax rise that affects thousands of armed forces…

Perth-based energy giant SSE said on Monday the proposed merger of its household energy and services business in Great Britain with Innogy subsidiary Npower Group plc should…

Equity crowdfunding platform Crowdcube has joined forces with Scottish law firm Harper Macleod to target “the huge potential for growth” in Scotland. The two organisations…

Lerwick Harbour in Shetland is set for a record year of cruise liner visitors. Over the next eight months, the Shetland port said it is…

The procurement process for a £25 million project to address mobile “notspots” in remote parts of Scotland has been announced. The Scottish 4G Infill Programme…

The average selling price of properties in some of Edinburgh’s most popular areas has increased by up to 35% over the last five years, according…

Incomes from commercial farms in Scotland increased by around 94% in 2016-17 — but this rise simply reversed an alarming decline in the previous year. According…

New York and Edinburgh-based fantasy sports firm FanDuel is in “advanced talks” to participate in a reverse merger with Platinum Eagle Acquisition Corp., a special…

A new report by estate agent Rettie & Co. showed the Edinburgh and Lothians area continued to dominate sales of Scottish homes worth £1 million or…

Aberdeen-based oil and engineering giant Wood plc said it won a new contract to develop the world’s largest crude oil to chemicals project for Saudi…

The UK supermarket regulator has launched an investigation into the Co-op Group over its treatment of suppliers. The Co-op said it had “fallen short” and that 110…

The UK’s gross pension liability across workplace and state provision grew by £1 trillion in five years to hit £7.6 trillion at the end of 2015,…

New York Attorney General Eric Schneiderman announced a $500 million settlement with Royal Bank of Scotland over the bank’s “deceptive practices and misrepresentations to investors…

The Scottish government said that NHS Scotland’s workforce is at a record high of more than 140,000 whole time equivalent (WTE) staff. The number of…

The UK government’s Scottish Affairs Committee has written to RBS CEO Ross McEwan “with a final request to set a date to appear before the committee.”…

Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said its revenue increased 16% to $31.1 million and profit before tax increased 16% to $8.7 million…

Shares of Glasgow-based Aggreko, the world’s largest temporary power firm, fell about 4% after it said its 2017 revenue before exceptional items rose 4% to of…

Aberdeen-based drilling and engineering contractor KCA Deutag (KCAD) said it agreed with the shareholders of Dalma Energy LLC to combine their respective businesses through the…

Houston, Texas-based Oceaneering International, Inc. said one of its subsidiaries acquired Aberdeen-based Ecosse Subsea Limited, the provider of offshore engineering, seabed preparation, route clearance and…

North Sea oil and gas production over the period 2016–2050 is now projected to total 11.7 billion barrels of oil equivalent (boe) — 2.8 billion…

Royal Bank of Scotland is edging towards a multi billion-dollar settlement with the US Department of Justice (DoJ) over its mis-selling of toxic mortgage-backed securities —…

The chairman of Edinburgh-based video security company IndigoVision said on Thursday the firm’s financial performance in 2017 and prior years “has not been acceptable and IndigoVision…

Glasgow-based media firm STV Group plc said it will increase its dividend despite reporting that 2017 revenue fell 3% to £117 million and statutory pre tax profit fell…

The Scotch Whisky Association (SWA) is predicting a strong year for whisky tourism as increasing numbers of visitors find their way to Scottish distilleries to…

The UK’s Competition and Markets Authority (CMA) said it opened an investigation into whether the proposed merger of SSE Retail and Npower “could significantly reduce…

The proposed Scottish National Investment Bank — which will be supported by long-term capitalisation of at least £2 billion over the first ten years — is…

Glasgow-based oil and mining engineering giant Weir Group said its revenue increased 28% £2.36 billion in 2017, reflecting both the recovery in North American oil and…

Glasgow-based sausage skin and collagen products firm Devro plc said statutory revenue rose 6.6% to £256.9 million in 2017 and statutory profit before tax was £21.6 million, up from £6.2…

Shares of Edinburgh and Newcastle-based Virgin Money rose almost 6% after it said its underlying profit before tax increased 28% to £273.3 million in 2017 and total income…

The allocation of £1.8 billion of public funding to individual universities and colleges has been announced by the Scottish government for the next academic year….

Scottish local government financial statistics for 2016-17 show that gross revenue expenditure on services was £15.590 billion and income was £5.578 billion, resulting in a net…

Standard Life Aberdeen on Friday confirmed the sale of its “capital-intensive” insurance business to Phoenix Group for a total consideration of £3.24 billion including £2.28 billion in cash and…

Royal Bank of Scotland on Friday announced its first bottom line profit for 10 years — but said the timing of its crucial multibillion pound settlement with…

British insurer Phoenix Group Holdings is in advanced talks to buy Standard Life Aberdeen Plc’s insurance business for about £3 billion and a deal could…

Brian Souter, president of accountancy body ICAS, has called on the UK Government to review its arrangements for workplace pensions to “ensure a better deal…

Glasgow-based packaging firm Macfarlane Group said its sales rose 9% to £196 million and profit before tax jumped 19% to £9.3 million in 2017. Macfarlane is…

Glasgow-based Beeks Financial Cloud Group plc, a niche cloud provider for institutional capital markets, announced financial results for its first six months trading as a…

Glasgow-based private equity firm Maven Capital Partners and Hong Kong-based IP Investment Management have continued their move into the UK student housing sector with the construction…

ScottishPower, a subsidiary of Basque group Iberdrola, reported a big drop in earnings at its generation and supply business in 2017 — but a surge in…

Shares of Aberdeen-based global bus and rail giant FirstGroup fell more than 11% after it said in a trading update that its Greyhound long-haul business in the US…

The Association of Scottish Visitor Attractions (ASVA) announced that visits to its member sites rose dramatically in 2017, the fourth year running that an increase…

A major new report has set out recommendations on economic development, education and employment to ensure that Scotland “reaps the rewards of the digital and…

Independent craft brewer BrewDog has announced plans to build the “world’s first craft beer hotel” as part of “an immersive craft beer hotel and brewery…

The UK Government’s Treasury Select Committee on Tuesday published the final, unredacted skilled persons’ report into the treatment of small business customers by Royal Bank of Scotland’s…

MSPs at Holyrood have supported the introduction of a new income tax system for Scotland. MSPs passed the proposals — part of a budget deal…

Shares of Elgin-based housebuilder Springfield Properties rose more than 5% after it announced its interim results for the six-month period ended November 30, 2017. Springfield announced…

Aberdeen-based oil and engineering giant Wood plc said it won UK Government backing “to bring space technology to nuclear decommissioning.” Wood said it is leading research…

Edinburgh and Newcastle-based Virgin Money has confirmed the appointment of former HSBC executive Irene Dorner as chair elect of the challenger bank. The appointment helps create the…

Edinburgh-based Aegon UK said the acquisition of Cofunds and “exceptional” organic growth has seen the firm add more than £15 billion to take its “platform” assets up…

UPDATE 4 — Shares of Edinburgh-based Standard Life Aberdeen fell about 5% after it was announced it will lose its biggest client. Lloyds Banking Group (LBG)…

Edinburgh-based fund management giant Baillie Gifford announced its intention to raise £250 million through the launch of a new investment trust company, the Baillie Gifford…

Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, announce two significant new contracts with hospital providers in the US. Both hospital providers are new…

Glasgow-based Smart Metering Systems (SMS) announced it has signed a new meter rental agreement with Utilita Energy “to provide an opportunity for over 100,000 new…

Grant Thornton’s Scotland Limited report for 2017 shows that Scotland’s largest 100 private limited companies made a combined turnover of £21.4 billion, made combined pre-tax profits of…

Global consultants Wood Mackenzie and the Aberdeen-based Oil & Gas Technology Centre announced that developing new subsea technology and approaches could help unlock 400 million additional barrels…

Tokyo-based Terumo Corporation announced an investment of £33 million in its Renfrewshire subsidiary Vascutek Limited. The investment has been approved for the major expansion of…