Scottish Financial Review

Scottish Rugby has confirmed that Glasgow Warriors head coach Gregor Townsend will replace Vern Cotter as Scotland head coach at the end of the 2016/17…

Employment in Scotland rose by 51,000 to 2,629,000 in the last quarter — the largest quarterly rise on record — according to the UK’s Office for National Statistics…

The Royal Bank of Scotland has terminated a $300 million contract with Indian technology firm Infosys following the announcement last week that RBS will no longer pursue its…

Inverness-based LifeScan Scotland — owned by Johnson & Johnson — is to embark on an £8.7 million investment to innovate the research, development and manufacturing capabilities…

The chief executive of Perth-based energy giant SSE said the UK does not need EDF’s £18 billion Hinkley Point C nuclear plant because there are enough credible…

Scotland’s Calvin Harris is the highest-paid DJ in the world with earnings of $63 million, according to Forbes. Forbes said Dumfries-born Harris was the biggest earner in Electronic…

Keltbray Group said it has acquired some of the assets Bathgate-based construction firm Dunne Group — which went into administration in July — from the administrators. The purchase…

Moody’s Investors Service has downgraded the bond (debt) ratings of media firm Johnston Press, owner of The Scotsman, the i newspaper and the Yorkshire Post, deeper into…

Leading Scots law firm Burness Paull said turnover for the financial year ending July 31 rose 3.9% to £53.3 million –but profit fell 3.4% to £22.6 million as post-Brexit uncertainty…

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”…

The new chairman of Edinburgh-based aviation logistics and news distribution firm John Menzies said it could take up to a year to decide if Menzies should split into two…

Aberdeen-based oil and gas services giant Wood Group said revenue fell 16.6% to £2.56 billion and profit fell 63% to £44.6 million in the six months to…

Aberdeen-based oil and gas services giant Wood Group said it won a $700 million contract to provide services to Tengizchevroil (TCO) at the Tengiz Field in Kazakhstan….

Glasgow-based coffee roaster Matthew Algie said it has been acquired by family-owned German coffee and food service business Tchibo for an undisclosed sum. Tchibo cited…

Edinburgh-based Standard Life Investments has strengthened its Environmental, Social and Corporate (ESG) team with the hiring of Marc Brammer and Sophie Rahm as responsible investment analysts….

Scottish Government finance secretary Derek Mackay said guarantees for UK businesses and universities over EU funding from UK chancellor Philip Hammond fall “far short” of what Scottish…

Royal Bank of Scotland chief executive Ross McEwan told the BBC that the company would probably move its registered headquarters out of Scotland in the…

The Scottish Retail Consortium (SRC) has called on the Scottish Government to scrap the annual £62.4 million large business rates surcharge in a detailed submission ahead of…

Edinburgh Airport said it had the busiest ever month at a Scottish airport in July as international traffic from the Scottish capital rose 18.5% on the same…

Glasgow-based drinks company Edrington — owner of The Macallan, Highland Park and Famous Grouse — said it appointed Paul Hyde as its new chief financial officer. He succeeds Alex Short,  who…

Dutch insurance and investment giant Aegon, which has large UK operations in Edinburgh, said it would acquire Cofunds — an investment platform for financial advisers — from…

Aberdeen-based bus and rail giant FirstGroup said it was disappointed not to have been awarded the East Anglia rail franchise after submitting “a compelling, deliverable, and…

Scotland’s population reached a record 5.37 million people in 2015, boosted by 85,000 people who came to Scotland from the rest of the UK and from overseas, according…

Scotland’s whisky distilleries attracted as many tourists as Edinburgh Castle and St Paul’s Cathedral last year — and spending at distillery visitor centres was £50 million. New research…

First Minister Nicola Sturgeon announced a raft of measures — including an extra £100 million of funding — to stimulate the Scottish economy in the…

Oil and gas firm Parkmead has doubled its stake in the Polecat and Marten oil fields in the UK Central North Sea.  The Polecat and…

Scottish Building Society said it has strengthened its senior management team with the appointment of Aileen Brown in the newly-created role of finance director. Brown joins…

Scotland’s First Minister Nicola Sturgeon travelled to Berlin on Tuesday for talks with the German Government, discussing the EU referendum result and the next steps for the…

Strathclyde Partnership for Transport (SPT) said the Glasgow subway will reopen nine days later than planned on Wednesday, August 10 following a major modernisation programme. SPT said essential renewal…

Glasgow-based mobile power firm Aggreko said it agreed to buy Illinois-based industrial climate control equipment firm Dryco. Aggreko said Dryco specializes in moisture control, drying, heating, and…

Shares of Edinburgh-based investment, pensions and insurance group Standard Life rose about 5% after it said its half-year operating profit before tax increased by 18% to £341…

Demand for Scottish goods and services in July deteriorated at the fastest pace for nearly four years, according to the latest Bank of Scotland/Markit purchasing managers’…

The UK Government said its Scottish Secretary David Mundell will be in Glasgow on Wednesday to begin a series of meetings with groups from across Scottish society to make…

Shares of North Sea producer Premier Oil jumped 5% after it said it made a “significant” oil find in the Outer Moray Firth. Premier said the…

Royal Bank of Scotland reported an attributable loss of £2.04 billion for the first half of 2016 — compared to a £179 million loss for the same…

The Bank of England — the UK’s central bank — said it cut interest rates from 0.5% to a record low of 0.25% and introduced…

Fast growing Aberdeenshire craft beer company BrewDog has announced a $50 million crowdfunding round in the United States, marking the fifth stage of its “Equity for Punks” investment programme….

Fantasy sports operator FanDuel — based in Edinburgh and Manhattan — welcomed the news that Governor Andrew Cuomo has signed legislation to legalize interactive fantasy sports in New York…

Shares of Glasgow-based sausage skin and collagen products company Devro fell 7% after it said revenue for the six months to June 30 was unchanged…

Edinburgh hotels enjoyed strong growth in occupancy and room price in June while Glasgow and Aberdeen had mixed fortunes, according to the latest monthly report from tourism…

Shares of Glasgow-based international mobile power firm Aggreko fell 13% after it said its pre-tax profit fell 31% to £71 million and revenue slid 12% to £685 million in…

The volume of Scottish manufactured export sales fell by 0.5% over the first three months of 2016 as subdued global demand and the impact of lower…

The chief executive of the Scotch Whisky Association has warned that Scotch exports face increased tariffs in key markets like Korea, Colombia, Peru and South Africa following the UK’s…

Microsoft has sold $19.75 billion of bonds in one of the biggest sales ever of company debt securities and said it may use some of the proceeds to…

Cumbernauld-based soft drinks maker A.G. Barr said it anticipates revenue in the six months to July 30 will be £125 million, down 2.9% year on year, amid…

Deficits at the UK’s private sector defined benefit pension schemes have once again soared to record levels as prolonged ultra low interest rates take their…

Real estate firm Savills said it has been appointed by the University of Glasgow as its strategic investment and development advisor on a new five year…

The Scottish Government said that Right to Buy, the policy introduced under Margaret Thatcher that allowed tenants in social housing to buy their homes — often…

Royal Bank of Scotland (RBS) was one of the worst performing banks in stress tests carried out by the European Banking Authority (EBA). Under the imaginary stress conditions,…

The percentage of the Edinburgh workforce with a degree level qualification or equivalent is higher than any other major UK city, according to the latest ‘Edinburgh…

Gas and electricity regulator Ofgem said it has launched an investigation into SSE’s pre-payment meter (PPM) processes. The investigation is being launched following concerns about SSE’s…

Edinburgh is the most expensive city in the UK for students due to “above average rent costs combined with significantly lower than average term-time income” according…

Clydesdale and Yorkshire Bank (CYBG) said trading in the three months to June 30 was in line with expectations and that it made £1.5 billion of new loans and…

The chief executive of drinks giant Diageo — owner of many Scotch whisky brands including Johnnie Walker, Bell’s, Talisker, Lagavulin and Dalwhinnie — has urged the UK…

Growth in Scotland’s gross domestic product (GDP) is forecast to slow as a direct result of the EU referendum, according to a revised economic commentary…

Glasgow-based engineering company Weir Group said revenue in the six months to June 30 fell to £866 million from £981 million for the same period last year and…

Glasgow-based engineering firm Weir Group said Keith Cochrane will step down as chief executive after 10 years on the board. Finance director Jon Stanton will succeed Cochrane on October…

The University of Glasgow has signed a partnership agreement with a major state-owned enterprise company in China to develop an international optoelectronics industry base in the…

British healthcare firm GlaxoSmithKline (GSK) is to invest £110 million in its Montrose site to develop a new, state-of-the-art facility for the manufacture of respiratory active ingredients. The Montrose plant manufactures…

The Federation of Small Businesses (FSB) said news that Royal Bank of Scotland (RBS) and its NatWest subsidiary might consider charging business customers to deposit money would be…

The volume of residential property sales in Scotland rose 4.9% in the April-June quarter compared to the same period last year — but the average price…

Edinburgh Trams are to run every five minutes during morning and evening rush hours to respond to higher demand. The tram line is 14km long and runs from Edinburgh…

Edinburgh’s Festivals attracted audiences of more than 4.5 million in 2015, putting them on a par with the FIFA World Cup. Only the Olympic Games attract…

Glasgow-based packaging firm Macfarlane Group said it agreed to buy Leicester-based Nelsons for Cartons and Packaging Limited for up to £6.75 million. The deal is backed by a placing…

Glasgow-based drinks company Edrington said revenues for the year to March 31 were flat at £574.6 million amid a “challenging environment” where results were hit by “political and economic…

Aberdeen Asset Management said it had net outflows of £8.9 billion during the quarter to June 30 but this was offset by £17.5 billion of asset appreciation. Assets under…

Stirling based insulation firm Superglass said it is recommending that its shareholders accept a £8.7 million cash takeover offer from Cyprus incorporated investment vehicle Inflection. Sergey Kolesnikov, the sole…

Dundee-based investment trust firm Alliance Trust said its investments had underperformed its benchmark in the six months to June 30 “reflecting the turbulent market conditions around the…

MasterCard said it agreed to acquire 92.4 percent of payment processing giant VocaLink for about £700 million ($920 million). In the UK, VocaLink operates the Link ATM network and processes…