Scottish Financial Review

State-owned Scottish ferry company Caledonian MacBrayne (CalMac) said that in 2016 it exceeded five million passengers for the first time since 1997 — helped by the first full year…

The finance ministers of Scotland, Wales and Northern Ireland said the UK Government has failed to provide the devolved administrations with necessary information or clarity…

The most recent Wealth & Assets Survey (WAS) for Great Britain showed that aggregate total wealth of private households in Scotland increased to £856.6 billion…

The Scotch Whisky Association (SWA) has urged MEPS to vote in favour of the EU-Canada Comprehensive Economic and Trade Agreement (CETA). The SWA said CETA…

Glasgow-based regenerative medicine firm Collagen Solutions announced a conditional placing and open offer of shares to raise up to £8 million and said it received a conditional…

Melrose-based angel investment group Tweed Renaissance Investors (TRI Capital) appointed Jamie Andrew as its new chairman following the retirement of Rob Dick. Andrew said: “TRI Cap has…

A new fintech hub backed by the UK and Scottish governments and based at Royal Bank of Scotland’s headquarters at Gogarburn, Edinburgh, will open to entrepreneurs…

There were 85 businesses in Scotland with parent companies registered in Japan by November 2016, with a collective turnover of £1.5 billion and 6,250 employees at 210 sites, new…

The Co-operative Bank, rescued from near collapse by hedge funds in 2013, said it has put itself up for sale amid a neeed to build its capital and…

New order growth accelerated to a 20-month high at Scottish private sector companies in January, according to the latest Bank of Scotland Regional Purchasing Managers’…

The CEO of Aberdeen-based Faroe Petroleum said in an update the firm was “poised for a major growth phase” and it would pursue deals in its core…

Edinburgh-based tidal power company Atlantis Resources announce an agreement to partner Natural Energy Wire (NEW) to develop the Wyre tidal project to be built between…

The Trump administration represents a risk to international economic conditions and global sovereign credit fundamentals, Fitch Ratings said on Friday. “US policy predictability has diminished,…

A group of senior businessmen — including Angus Grossart and Brian Souter — are among investors seeking to join a lawsuit against Royal Bank of Scotland alleging they…

ScottishPower said it will increase its standard domestic gas and electricity prices from March 31, 2017 — but nearly two out of three homes supplied…

The University of Edinburgh said its total income for the year ended July 31, 2016 was £908 million — including exceptional items of £19 million —…

In what is being called the largest letting in Scotland since the EU referendum, the management, engineering and development consultancy Mott MacDonald has agreed terms to move…

Manchester United said its revenue rose 18% to £157.9 million in the three months to December 31, 2016, but its net debt jumped 27.1% to £409.3 million. It its outlook, the company…

Leicester-based wealth management firm Mattioli Woods said it acquired 49% of Edinburgh-based fund manager Amati Global Investors Limited from Amati Global Partners LLP for £3.33 million.   Mattioli Woods…

Edinburgh-based Bowleven, the Africa focused oil and gas exploration company, on Wednesday urged its shareholders to vote against all resolutions of Monaco-based activist shareholder Crown Ocean…

The overall annual turnover of the UK’s oilfield services (OFS) industry fell from £40.6 billion in 2014 to £35.7 billion in 2015, according to a new…

Lloyds Banking Group — which owns Halifax and Bank of Scotland — said it will undertake a review of all customer cases which may have…

British consumers pay more than one quarter of all the tax on spirits collected in Europe, mainly because of a UK domestic tax level far higher than the European…

Shares of Aberdeen-based bus and rail giant FirstGroup rose about 5% after it said its reported group revenue rose 12.8% in the quarter to December 31, helped by favourable currency translation…

Celtic plc said qualifying for the group stages of the UEFA Champions League helped it increase revenue by 94.7% to £61.2 million in the six months…

Edinburgh-based rented housing developer Sigma Capital Group said it acquired a further three sites in the West Midlands and North West of England to deliver 200…

Israel’s Delek Group said it offered to buy the 80% of Aberdeen-based oil and gas operator Ithaca Energy it doesn’t already own for about $524 million in cash….

Glasgow-based Smart Metering Systems (SMS) said total annualised recurring income increased by 20% to £41.3 million as at December 31, 2016. The company’s shares have soared about…

The US Commodity Futures Trading Commission (CFTC) said it ordered the Royal Bank of Scotland to pay an $85 million civil monetary penalty as part of a…

A report by real estate giants Savills said Glasgow had the building blocks in place to reaffirm its position as “Scotland’s powerhouse” to compete with the “Northern Powerhouses”…

Professor Peter Mathieson — currently president and vice-chancellor of the University of Hong Kong — has been appointed as the next principal and vice-chancellor of…

Johnston Press — owner of The Scotsman, the i newspaper and the Yorkshire Post  — said in a trading statement that although its revenue fell…

The UK’s central bank has increased its central expectation for UK growth in 2017 to 2% — up from its November forecast of 1.4% — and expects…

The Scottish Investment Trust (SIT) said it entered a share repurchase agreement to buy back the 11.88% stake in the company held by investment firm Aviva on…

ShareSoc, the UK Individual Shareholders Society, said it is consulting legal advisors following the decision by Royal Bank of Scotland not to take forward a proposed AGM…

Shares of Aberdeen Asset Management fell almost 5% after it said its assets under management fell about £9.4 billion to £302.7 billion in the three months…

Property consultants CKD Galbraith said the commercial farmland market in Scotland will remain robust throughout 2017 “given the healthy levels of interest witnessed in the previous 12 months.”…

Shares of Aberdeen-based oil and gas engineering services company Plexus Holdings fell around 20% on Wednesday afternoon after it warned in a trading update that its revenue for…

Perth-based energy giant SSE said in a trading statement it expected its capital investment programme for 2016-17 to be around £1.75 billion. SSE confirmed that for 2016-17 it…

Edinburgh-based fund management giant Standard Life Investments issued its Governance & Stewardship Annual Review for 2016 in which it revealed it voted its clients’ shares 430…

Edinburgh-based aviation logistics and news distribution firm John Menzies said it reached an agreement with the UK’s Competition and Markets Authority (CMA) to complete the acquisition of Orlando, Florida-based aviation…

New data from the Scottish Tourism Economic Assessment Monitor (STEAM) revealed that tourism in the Scottish Borders and Midlothian has received a major boost since the…

Shares of Cumbernauld-based soft drinks maker A.G. Barr rose about 3% after it said its revenue for the 52 weeks ended January 28 is expected…

Clydesdale and Yorkshire Bank owner CYBG said trading in the three months to December 31, 2016, had been in line with its expectations with deposit balances up…

Shell agreed to sell roughly half of its UK North Sea assets to independent firm Chrysaor for up to $3.8 billion. Chrysaor, backed by Harbour Energy, an…

The Royal Bank of Scotland Group (RBS) said its board decided not to take forward a proposed AGM resolution submitted by ShareSoc and UK Shareholders’ Association…

Shares of Glasgow-based intellectual property law firm Murgitroyd Group fell another 7% on Monday after it said profit before tax fell 30% to £1.48 million in the six months to November 30, 2016. Murgitroyd…

A shortage of properties in the Glasgow area means the number of houses being sold has decreased — but high demand for available properties means they are selling faster…

Hosting the 145th Open golf championship at Royal Troon delivered more than £110 million worth of benefit to Scotland, according to an independent study announced by…

By Mark McSherry Dundee-based investment trust company Alliance Trust plc said it agreed to buy out the 19.75% stake in Alliance held by its biggest shareholder, US activist…

Edinburgh-based Standard Life plc said Paul Matthews, CEO UK & Europe Pensions and Savings will stand down as an executive director and Barry O’Dwyer, currently CEO…

Royal Bank of Scotland Group plc said its full year 2016 results will reflect the taking of a further £3.1 billion provision in relation to investigations…

Glasgow City Council has unveiled plans to transform the area around Byres Road, the centre of the city’s bohemian west end, in a £9 million project. The…

Scotland’s exports to the rest of the UK and to international markets in 2015 — excluding oil and gas — were estimated at £78.6 billion, up…

Johnston Press — owner of The Scotsman, the i newspaper and the Yorkshire Post — said it signed a multi-million pound contract with Associated Newspapers Limited (ANL), owners…

The Scotch Whisky Association (SWA) called for a 2% spirits excise duty cut in the next UK Budget as it revealed new research that showed Scotch…

Glasgow-based Scottish Friendly, Scotland’s largest financial mutual, said it achieved record-breaking sales in 2016 — a 33% rise from £25.5 million in 2015 to £33.9 million in 2016….

Shares of Glasgow-based intellectual property law firm Murgitroyd Group fell about 20% after it said in a trading update that its full year results will fall short of market…

The establishment of a Scottish government-owned energy company and a potential role for renewable energy bonds are just two of the proposals that will make up a…

Aberdeen-based bus and rail giant FirstGroup and Italy’s Trenitalia UK said they will bid together for the East Midlands and West Coast Partnership rail franchises due…

The number of passengers using Lerwick Harbour in Shetland increased by 10% to 184,487 in 2016 thanks to a 67% rise in visitors on cruise ships to a record…

Edinburgh-based fund manager Standard Life Investments said it has strengthened its environmental, social and governance (ESG) investment team with the appointment of Deborah Gilshan as…

The UK Supreme Court has ruled that prime minister Theresa May must get the approval of the UK parliament before she begins the process for…

North Sea exploration firm EnQuest said it agreed to acquire from BP an initial 25% interest in the Magnus oil field for about $85 million — with an option to…

Edinburgh-based Apex Hotels Limited said its turnover rose 7% to £61.3 million and profit before tax soared 132% to £10.3 million in the year to April 30,…

Scottish headquartered law firm Brodies LLP said it appointed three new partners who are “recognised leaders in the fields of infrastructure projects, real estate finance and…

Edinburgh-based fund manager Baillie Gifford & Co. announced it would appoint three new partners on May 1, 2017, taking its total number of partners up to 43. Baillie Gifford employs…

The Brexit vote caused a “dramatic drop off” in recruitment activity across the Scottish financial sector and led to “paralysis” in salaries, according to leading…

Network Rail said Alex Hynes, the current managing director of Arriva Rail North, will be appointed managing director of the ScotRail Alliance. He will replace Phil…