Scottish Financial Review

Bank of England governor Mark Carney announced that artist J.M.W. Turner and his painting The Fighting Temeraire will appear on the next £20 banknote due to…

Average rents in Scotland’s private rented sector recorded a 2.1% year-on-year growth in the first quarter of 2016 to £767 per month, according to the latest Citylets quarterly…

Aberdeenshire-based craft beer firm BrewDog said its latest crowdfunding effort — a fourth round of  “Equity for Punks” aimed at raising £25 million — had closed…

TSB chief executive Paul Pester on Thursday urged the UK Competition & Markets Authority (CMA) to use its “once in a generation” opportunity to help the challenger…

The Scotch Whisky Association has promoted Alan Park to the position of director of legal affairs to succeed Magnus Cormack who is leaving the SWA at the…

Scotmid said its trading profit for the year ended January 30, 2016, rose £200,00 to £5.7 million as its turnover fell £12 million to £371 million. Scotmid chief executive John Brodie said…

Aberdeen-based energy services giant Wood  Group has won a five year $150 million contract extension from Nexen — extending a deal that has been in place since April…

Edinburgh-based tidal power company Atlantis Resources said its raised £6.5 million via a placing of 11.88 million new ordinary shares at 55p a share.  Atlantis said the proceeds will…

Former Scottish Development International (SDI) boss Anne MacColl has been appointed chair of the Scottish Salmon Producers’ Organisation (SSPO). The SSPO plays a central role…

Celtic Football Club said manager Ronny Deila “has decided to leave the club at the end of the season.” Celtic chairman Ian Bankier indicated that the club…

An All-Party Parliamentary Group (APPG) of MPs alleged on Wednesday that ScottishPower sustained and sought to cover up a “cashback mis-selling” scandal that cost 625,000 consumers across the UK more than £75 million….

Edinburgh-based Standard Life said its Indian joint venture HDFC Life plans to have an initial public offering (IPO) of up to 10% of its shares. Standard…

Glasgow-based mobile power provider Aggreko said its Power Solutions business has signed a 3 year contract to provide 200 megawatts of diesel-fuelled power in Zimbabwe.  Aggreko’s customer is Sakunda…

The average cost of renting agricultural land has risen 3% since last year, according to the Scottish Government. Scotland’s chief statistician has released the latest figures on Tenanted…

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…

Livingston-based gas metering company Energy Assets Group said on Monday it agreed to be acquired by funds controlled by US infrastructure asset manager Alinda Capital Partners for about £198 million. Alinda…

Edinburgh-based airport logistics and news distribution company John Menzies — under shareholder pressure to split into two companies — said on Monday that chief financial officer Paula Bell will…

A bid to create Scotland’s first community-owned craft whisky distillery has been launched in the Highland town of Dingwall. The Glenwyvis Distillery Community Benefit Society has…

Aberdeen Asset Management has appointed Martin Jennings to the newly created role of Head of Aberdeen Digital, a distinct division within the firm. Jennings will be responsible…

Aberdeen Asset Management has acquired The Hub, an 84 unit residential development in Harrow on the Hill, noth west London, as part of a move to…

National Museums Scotland said it reached an agreement with the PCS Union that will bring to an end the three-year long industrial dispute over payment of weekend allowances. “Funding…

Ennismore, the new owners of the Gleneagles Hotel, have announced a multi-million pound refurbishment of the “Palace In The Glens.” Ennismore said it will work with some of the…

Leaving the European Union would reduce flows of foreign direct investment (FDI) into the UK by more than 20%, damaging productivity and lowering people’s incomes,…

Aberdeen-based energy services giant Wood Group said Richard Howson, chief executive of construction company Carillion, will join Wood Group as a non-executive director on May 12, 2016….

Greencoat UK Wind, the renewable infrastructure fund invested in seven Scottish wind farms, has announced a proposed sale of up to 300 million new shares to raise…

Scotland’s economy is “on a knife edge between growth and recession” and the Scottish Government needs to put growth at the centre of its plans for the next…

The Bank of England’s monetary policy committee (MPC) warned on Thursday that uncertainty around the EU referendum has begun to weigh on “certain areas of activity” in the…

The outgoing head of the UK Treasury told the Financial Times in an interview that Chancellor George Osborne will have to consider selling the taxpayer’s remaining 73% stake…

Standard Life wants to buy Elevate, Axa’s platform for helping independent financial advisers manage clients’ investments, according to Bloomberg News. Axa, France’s largest insurer, is…

A lawyer acting for Grand Theft Auto computer game developer Leslie Benzies — the Scot who is suing his former firm for what he alleges are $150…

Newly independent Clydesdale and Yorkshire Bank (CYBG) is to close 26 bank branches — nine Clydesdale and 17 Yorkshire — to  “reflect the changing needs…

Aberdeen Asset Management chief executive Martin Gilbert has told Fund Strategy that “I’ve got a few more years in me” as the boss at the fund…

Mull-based Inverlussa Marine Services, in a joint venture with Mainprize Offshore Ltd, has won a multi million pound contract to provide offshore support during construction of…

Premier Oil said on Wednesday that first oil from the Solan field west of Shetland was produced on April 12 — but also announced yet another delay to the…

A British exit from the European Union could pose major challenges for both the United Kingdom and the rest of Europe, said the International Monetary Fund…

The Financial Conduct Authority (FCA) has censured former Royal Bank of Scotland Libor submitter Paul White and banned him from performing any function in relation to…

Edinburgh-based tidal power company Atlantis has agreed to sell a minority stake in its Tidal Power Scotland Ltd (TPSL) company to Belgian firm DEME. DEME…

University of Glasgow said it has taken possession of the city’s former Western Infirmary site in a milestone that will enable the proposed £1 billion investment in the…

Tesco is drawing up plans to sell loss-making businesses including Midlothian-based Dobbies Garden Centres in order to focus on core operations, according to Sky News. Sky News said…

A 37.6% increase in international passenger numbers helped Edinburgh Airport have its busiest March ever. International passenger soared from 358,450 in March last year to 493,200 last…

Perth-based transport giant Stagecoach Group on Monday announced new vehicle orders worth £97 million. A new fleet of 480 vehicles, many equipped with free wifi, will…

The latest data from Bank of Scotland showed a sharper deterioration in business conditions in Scotland’s private sector in March. Output declined and staffing levels continued…

Goldman Sachs-backed pension buyout specialist Rothesay Life has agreed to buy £6 billion of annuities from Scottish Equitable plc, the UK subsidiary of Dutch insurance and investment giant Aegon…

Glasgow-based brewery and restaurant entrepreneur Petra Wetzel has launched an investment fund called West Women to provide seed capital and financial assistance to emerging female…

Glasgow-based private equity firm Maven has led the management buyout (MBO) of Westfield Medical, a provider of sterilisation products to the healthcare and industrial sectors. The…

Livingston-based prosthetic technologies firm Touch Bionics has been bought for £27.5 million by Icelandic company Össur. Touch Bionics has more than 120 employees at its operations in Scotland,…

Royal Bank of Scotland said on Monday its tender offer to buy back roughly £5.2 billion of bonds to lower its interest payments and meet regulatory…

Scottish Government officials have written to all local authorities in Scotland asking them to carry out any necessary checks on the safety of their school buildings…

The UK Treasury said Sam Woods has been appointed chief executive of the Prudential Regulation Authority and deputy governor of the Bank of England — the UK’s…

Scotland’s public sector should have a target of directing 10% of its spending power towards firms with fewer than 10 employees, said the Federation of Small Businesses…

Aberdeen-based oil and gas services giant Wood Group has made its second acquisition this week by buying Houston, Texas-based Ingenious Inc., a supplier of software…

The University of Glasgow has signed a Memorandum of Understanding (MOU) with the Smithsonian Institution in Washington DC to formalise a relationship that goes back more than…

2015 was a strong year for estate sales in Perthshire and Angus and demand from potential buyers has continued into 2016, according to CKD Galbraith. “Estates…

Bellshill-based Wireless Infrastructure Group (WIG ) has announced a £75 million investment from 3i Infrastructure that values WIG at £300 million. WIG builds and operates communication towers…

Edinburgh-based beer company Innis & Gunn is buying Perth-based Inveralmond Brewery with the acquisition entirely funded by £3.1 million of capital raised through the Innis & Gunn BeerBond…

The World Trade Organization reported on Thursday that growth in the volume of world trade is expected to remain sluggish at 2.8% in 2016, unchanged from…

Maersk Oil said on Thursday that fabrication of the billion dollar “topsides” for platforms on its $4.5 billion UK North Sea megaproject Culzean has begun….

The annual Football Distress Report by corporate recovery experts Begbies Traynor has found that despite “meagre” television contracts north of the border, just one out…

Gross expenditure on research and development (GERD) in Scotland was £2.22 billion in 2014, down 0.6% on 2013, according to Scotland’s chief statistician. The gap in GERD as a percentage of…

Scottish GDP grew by 0.2% during the fourth quarter of 2015, according to statistics announced today by Scotland’s chief statistician. The latest Gross Domestic Product…

The Investment Association (IA) — the trade group for the UK fund management industry — said it appointed Chris Cummings as chief executive. Cummings joins the IA, whose members…

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…

Standard Life’s financial planning business 1825 said it will establish a London regional office by buying Baigrie Davies, its third acquisition in the last three weeks. Baigrie…

Edinburgh Council has sold its prestigious Atria office development in the heart of the capital’s financial district for £105 million to Deka Immobilien, a real estate…

Aberdeen-based oil and gas services giant Wood Group said it acquired SVT Engineering Consultants (SVT) based in Perth, Australia in what it desribed as a “significant step…

Glasgow-based packaging firm Macfarlane Group said it acquired Colton Packaging Teesside as part of its strategy “to develop its packaging distribution business in the UK protective packaging…

Edinburgh-based tidal power company Atlantis said it has entered into a partnership agreement with Equitix, an infrastructure developer, investor and fund manager with more than £1.7 billion of funds…

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…

Opposition party leaders are asking why an agreement signed two weeks ago between Scotland and China that could lead to £10 billion of infrastructure investments was not immediately…