Scottish Financial Review

Hurricane Energy is set to announce it has made a further, important oil discovery west of Shetland, according to the Financial Times. The news comes…

Dundee-based investment firm Alliance Trust on Friday announced its 2016 results, saying its share price rose 23% over the year, total shareholder return rose from 10.7% to 26.4%, and…

The UK’s Oil and Gas Authority (OGA) said it awarded 25 licences to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production…

Royal Bank of Scotland is planning to close almost 160 RBS and NatWest bank branches throughout the UK, putting hundreds of jobs at risk. RBS, still more than 70% owned by…

A new report by Savills and Scottish Woodlands said more than 18,300 hectares of forestry were sold across Britain last year at a cumulative value of £83 million…

Edinburgh-based oil and gas firm Bowleven — which last week had most of its board ousted by Monaco-based activist shareholder Crown Ocean Capital (COC) — said it is launching…

Infrastructure investment manager Ancala Partners LLP said it raised £51 million of debt facilities for Green Highland Hydro (GHH), the asset ownership vehicle for hydroelectric power…

North Sea exploration firm EnQuest, which recently went through a complex financial restructuring, said on Tuesday its 2016 gross profit rose 13.22% to $196.1 million despite…

Glasgow-based Smart Metering Systems (SMS) said its 2016 revenue increased 25% to £67.2 million and profit before tax rose 4% to £18.2 million as it completed three acquisitions ahead…

Shares of East Kilbride-based Goals Soccer Centres rose about 8% after it said 2016 sales edged up 1.6% to £33.5 million amid an investment programme and it…

The UK government said on Monday it intends on March 29 to formally trigger the long negotiations for the UK to leave the EU. “The UK’s Permanent…

Lloyds Banking Group — which owns Halifax and Bank of Scotland — said on Monday it appointed Professor Russel Griggs to review the cases of firms affected in…

Standard Life and Aberdeen Asset Management on Monday outlined the allocation of responsibilities between co-chief executives Keith Skeoch and Martin Gilbert after the companies complete their…

Food and drink exports from Scotland grew by £421 million or 8% in 2016 to a record £5.5 billion — with exports to EU countries…

Amec Foster Wheeler — which on Monday agreed to be bought by Aberdeen-based Wood Group for about £2.2 billion — said it won a contract with the US…

Shares of Edinburgh-based tidal power company Atlantis Resources rose 3% after it announced its intention to enter the French tidal power market through a cooperation…

Monaco-based activist shareholder Crown Ocean Capital (COC), which has ousted most of the board at Edinburgh-based oil and gas firm Bowleven, on Friday requisitioned another general meeting to…

Petrochemicals group Ineos is in discussions with BP to buy the important Forties Pipeline System in the North Sea, according to news reports. Ineos depends…

UK Prime Minister Theresa May said in a BBC interview that Scotland should not have a second referendum vote on independence before Brexit negotiations are completed….

The Scottish unemployment rate has fallen to 4.7% — the same as the rate for the whole of the UK, according to new data from the UK’s…

Monaco-based activist shareholder Crown Ocean Capital (COC) has been successful in ousting most of the board at Edinburgh-based Bowleven, the Africa focused oil and gas exploration company, including chief…

Aberdeen-based Wood Group said on Tuesday it won two separate contracts related to BP’s Mad Dog 2 project in the Gulf of Mexico, providing engineering…

STV chief executive Rob Woodward was on Tuesday appointed non-executive chairman of data erasure and mobile device diagnostics firm Blancco Technology Group, succeeding Matthew Peacock. Blancco also said…

The manager of Aberdeen Asset Management’s £1.5 billion closed-end fund the Murray International Trust launched a scathing attack on the “discredited stupidity” of central bankers…

The Scottish government said more than £590 million would be made available for 2017-18 to increase the supply of affordable homes in Scotland. It said…

Perth-based energy giant SSE said it would increase its electricity prices 14.9% on average from April 28 in a move that would affect 2.8 million customers throughout Great Britain….

Scotland’s First Minister Nicola Sturgeon said she plans to seek the Scottish Parliament’s approval to begin discussions with the UK Government on the details of a Section 30…

Aberdeen-based oil and gas services company Wood Group said it agreed to buy rival firm Amec Foster Wheeler for about £2.2 billion in an all-share “transformational” deal….

Aberdeen Asset Management CEO Martin Gilbert said in an interview on Friday he will focus on external affairs after his company merges with Edinburgh-based Standard Life to create the UK’s largest…

The Scottish government’s finance secretary Derek Mackay has announced that Scottish local authorities will receive a total funding package of £10.426 billion for 2017-18. Mackay’s…

Edinburgh-based Miller Homes said its operating exceeded £100 million for the first time in 2016 and that 2017 forward sales are 50% ahead of last year. Miller said operating profit…

The Scotch Whisky Association (SWA) said the UK chancellor’s decision to increase excise duty on spirits by nearly 4% or 36p a bottle in his…

Standard Life Investments said its high-profile head of equities David Cumming “has chosen to leave … to pursue other interests” — just days after Standard Life announced…

Trade body Oil & Gas UK welcomed the move unveiled by UK chancellor Philip Hammond in his Budget speech to review North Sea tax rules to try and find ways…

Edinburgh-based aviation logistics and news distribution company John Menzies said its 2016 turnover rose to just more than £2 billion from £1.99 billion in 2015 and profit before tax edged…

Edinburgh-based oil and gas company Cairn Energy said it reduced its full-year loss to $95 million in 2016 — compared to a $516 million loss…

The Scottish Government should use new borrowing powers to create an infrastructure bond to encourage private sector investment in Scotland’s transport network and other public…

Trade body Oil & Gas UK said output from the UK Continental Shelf (UKCS) rose 5% to 1.73 million barrels of oil equivalent per day (boepd) in 2016 and should…

Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said its first half revenue to December 31 increased 16% to $26.8 million and profit before tax…

Shares of Glasgow-based international mobile power firm Aggreko fell roughly 12% after it said 2016 revenue and profit fell and that it expects the current full year profit before tax…

Wind power generated the equivalent of 67% of Scotland’s entire electricity needs for the month of February, according to WWF Scotland. WWF Scotland published its analysis…

Glasgow-based sausage skin and collagen products firm Devro said currency gains helped its 2016 revenue increase 4.7% to £241.1 million — but in constant currency its revenues declined 6.9%….

UPDATE 5 – Edinburgh-based Standard Life has agreed to buy Aberdeen Asset Management for £3.8 billion in an all-share transaction that would create a global fund management player overseeing £660 billion…

UPDATE 5 – Scottish investment giants Standard Life and Aberdeen Asset Management confirmed in a joint statement they are in discussions about a possible all-share merger that would create a…

The Oil and Gas Authority’s five-year review of major oil and gas projects on the UK Continental Shelf showed more than £40 billion was invested in projects — but…

Glasgow-based media company STV Group said its 2016 revenue rose 3% to £120.4 million and statutory pre tax profit rose 60% to £15.7 million amid a growth in its “non-broadcast…

A joint venture between developer Moda Living and investment manager Apache Capital has bought a site in Fountainbridge on the west side of Edinburgh city centre to develop 525…

Edinburgh-based cyber security software firm ZoneFox said it closed a £3.6 million funding round led by Scottish business angel investment syndicate Archangels with co-investment from The Scottish Investment…

The charity Allia Impact Finance said it issued its ninth charitable bond for Scotland — taking the total invested by the Scottish government in Allia bonds…

Scottish transport giants Stagecoach and FirstGroup are to fight it out with one other bidder to win the new East Midlands rail franchise, which Stagecoach has…

Baillie Gifford’s flagship £5 billion closed-end fund company, the Scottish Mortgage Investment Trust plc, will enter the FTSE100 index for the first time in its…

The Scotch Whisky Association (SWA) — the influential trade body for the £5 billion Scotch industry — said it appointed diplomat Karen Betts as its new chief…

Shares of Cumbernauld-based Irn-Bru maker A.G. Barr rose after it said it has made a “further commitment to reduce sugar across its soft drinks portfolio” in advance of a UK…

Dundee-based investment firm Alliance Trust said its shareholders approved its radical plans to outsource its equity portfolio management and buy back the 19.75% stake of its biggest shareholder, US activist hedge fund…

Edinburgh-based industrial testing firm Exova Group said its 2016 revenue rose 10.8% to £328.6 million and profit before taxation rose 58% to £36.6 million despite weakness in its oil and gas business. On a…

Edinburgh and Newcastle-based challenger bank Virgin Money said its 2016 statutory profit before tax increased 41% to £194.4 million and its gross mortgage lending grew 12% to £8.4 billion, giving it…

Sterling fell against major currencies on Monday amid reports that another Scottish independence vote could be called and uncertainty about Britain’s future as it prepares to leave the European…

The UK government’s defence secretary Michael Fallon said £1.7 billion would be invested to upgrade Scottish military bases as the MoD’s Defence Board met in Edinburgh for the…

The Scottish Salmon Company said its 2016 revenue was £110 million, up from £100.4 million in 2015, as strong market prices boosted the firm despite the salmon…

Royal Bank of Scotland said it made an attributable loss in 2016 of £6.95 billion which included litigation and conduct costs of £5.87 billion and restructuring costs of £2.1 billion….

Edinburgh-based investment, pensions and insurance giant Standard Life said its operating profit before tax rose 9% to £723 million in 2016 and assets under administration rose by 16% to…

Underlying profit at Scottish Widows fell 13% to £837 million in 2016 as the company felt the effect of “recent reforms on activity within the pensions market.” As parent Lloyds…

Glasgow-based packaging firm Macfarlane Group pledged to continue looking for takeover deals as it revealed that recent acquisitions helped its 2016 sales rise 6% to £179.8 million and profit before tax…

Shares of Glasgow-based engineering giant Weir Group fell after it said its 2016 profit before tax fell 22% to £170 million and revenue slipped 2% to £1.84 billion amid…

The BBC said on Wednesday it will make the “biggest single investment in broadcast content in Scotland in more than 20 years.” It said that from…

The World Bank said in a new paper that economic policy uncertainty in Europe and the United States is contributing to a decline in world trade…

The Scottish government’s finance secretary Derek Mackay has responded to fierce criticism of the country’s business rates regime by announcing that “9,500 more businesses across…

Kentucky-based spirits and wine group Brown-Forman said it appointed Rachel Barrie as whisky maker for its Scotch whisky portfolio which includes the single malts BenRiach, The GlenDronach and Glenglassaugh distilleries,…

Shares of Aberdeen-based oil and gas services giant Wood Group fell around 8% on Tuesday after it said 2016 revenue fell 15.7% to $4.93 billion, profit…

Clydesdale and Yorkshire Bank owner CYBG said late on Monday that it notified Royal Bank of Scotland that it has withdrawn its preliminary non-binding proposal for,…