Scottish Financial Review

Dutch insurance and investment giant Aegon, which has UK operations based in Edinburgh, has announced the sale of £3 billion of annuity liabilities to Legal…

The £2.6 billion Beatrice Offshore Windfarm project in Scotland’s Outer Moray Firth has been given the green light for construction by owners SSE, Copenhagen Infrastructure Partners and…

Scotch Whisky producers on Monday urged new MSPs and the Scottish Government to make sure that Scotland is at least as competitive as the rest of the UK —…

Aberdeen Asset Management has resisted interest from competitors in Europe and Australia who want to buy the asset manager and plans to remain independent, chief executive officer Martin…

Edinburgh-based aviation services and news distribution firm John Menzies — under shareholder pressure to split into two separate companies in aviation and distribution — said on…

Figures released on Friday showed a mixed performance by the Scottish tourism industry in 2015 compared to the highs of 2014 — but total tourist spending still rose 5% to almost…

The Open Championship will no longer include East Lothian links golf club Muirfield on its rota of courses after the club voted to continue its policy of not accepting…

Five Scottish local authorities have signed a £700 million partnership deal with recycling and waste management company Viridor. The 25-year agreement will “divert waste from landfill by…

Barclays has arranged a £50 million private placement for the University of Stirling via a sale of unlisted, private securities to institutional investors. The funding for the university…

State-owned CalMac Ferries has won a new £900 million contract to continue operating the Clyde and Hebrides Ferry Services (CHFS) for eight years from October 1,…

Newspaper publisher Johnston Press, owner of The Scotsman and the Yorkshire Post, said on Wednesday that daily print sales of its recently-acquired i newspaper peaked at 297,849…

First Minister Nicola Sturgeon has handed responsibility for enhancing Scotland’s education system and improving opportunities for young people to John Swinney, her longest serving cabinet secretary. Swinney, who…

Edinburgh-based airport services and news distribution company John Menzies said on Wednesday that its chairman Iain Napier “informed the company of his wish to retire” after eight years on the…

Perth-based energy giant SSE said on Wednesday its profits fell in the year to March 31 and that it is considering the sale of up to…

Almost a quarter of Standard Life shareholders — about 22. 3% — voted against its directors’ remuneration report at its annual meeting on Tuesday. Last week, Standard…

Edinburgh Council has agreed to a 10-year concession contract with intechnologyWiFi to bring free high-speed WiFi and improved mobile coverage to the Scottish capital’s city centre….

Scotch Whisky exports reached £3.86 billion in customs value last year as the industry continued to show strong signs of recovery after a slight decline in recent…

Scottish office workers spend 50% more time preparing for and attending meetings than their counterparts in other parts of the UK — around two working days…

Year-end figures compiled by Highlands and Islands Enterprise (HIE) estimate that 855 jobs are expected to be created or retained in the region as a…

BP said on Monday it has doubled its interest in the Maersk-operated $4.5 billion Culzean gas development in the UK central North Sea after acquiring an additional interest from JX…

Blairs Steading on the Altyre Estate near Forres is to be redeveloped into a new campus for Glasgow School of Art (GSA) in a £2.5 million…

Thousands of Scottish financial sector jobs could be put at risk if the UK left the EU, the UK Treasury indicated on Friday. The Treasury…

The board of Edinburgh-based fund manager Baillie Gifford’s flagship fund — the Scottish Mortgage Investment Trust company — plans to limit to 25% the amount of the…

The Governor of the UK’s central bank said Britain’s economy could fall into a technical recession if the country voted to leave the European Union…

The Crown Office said on Thursday there was “insufficient evidence in law of criminal conduct” surrounding a £12 billion Royal Bank of Scotland sale of…

Scottish-based business incubator network Entrepreneurial Spark, “the world’s largest free accelerator for start-up and growing ventures,” has promoted co-founder Lucy-Rose Walker to the role of  CEO. It…

Aberdeen Football Club chairman Stewart Milne has revealed plans for a new £40 million stadium and training facility at Kingsford, west of the city and close…

Royal London said on Thursday it produced a record quarter of new business results for the three months ended March 31, with new life and pensions…

Aberdeen-based FirstGroup has been granted approval by the Office of Rail and Road (ORR) to launch “open access” rail services between London, north-east England and Edinburgh offering an…

First Minister Nicola Sturgeon said on Wednesday she will appoint her new cabinet next week — and will split the role of the Cabinet Secretary for Finance and Economy…

Edinburgh-based savings and investment giant Standard Life said its chief executive Keith Skeoch voluntarily cut his potential incentive plan from 500% of his salary to 400%. Skeoch’s base salary is £700,000,…

The Queen has appointed five new Senators of the College of Justice — judges who sit in Scotland’s highest criminal and civil courts — on the recommendation of…

A group of shareholders who control 22.6% of Livingston-based industrial smart metering firm Energy Assets Group said on Wednesday they would vote against a £198 million takeover deal unless Energy…

Aberdeen-based oil and gas services giant Wood Group said on Wednesday that it expects its earnings before interest, taxes and amortization (EBITA) to December 31, 2016 to…

Shares of Glasgow-based packaging firm Macfarlane Group ended Tuesday trading down almost 7% — having been down around 20% at one stage — after it gave…

Edinburgh-based Standard Life Investments’ Hong Kong business has established a strategic relationship with leading Chinese asset manager Bosera Asset Management. The two fund managers have announced the launch of…

The Scottish Council for Development and Industry said there is “a very high level of support” among its members for the UK to remain a proactive member of…

Edinburgh Airport’s passenger figures for April rose by 8.7% to 1,009,529 with international traffic — up 18.4% — the strongest performer. International flights now make up more than half…

Cantor Fitzgerald Europe co-CEO Gordon Neilly — a veteran of the Edinburgh corporate finance and fund management industries — has resigned from the investment bank, according…

More than £1 billion of Scotch whisky exports could be at risk for an industry that supports 40,000 jobs if the UK leaves the EU, according to…

Aberdeen-based energy services Wood Group has won two three -year contracts valued at over $140 million to deliver technical services and expertise to an unnamed international oil…

On Saturday May 7, 1966, the Sea-Land freight service called into the Port of Grangemouth for the first time as part of the Europe and American shipping…

Newly independent Clydesdale and Yorkshire Bank (CYBG) said on Thursday it will recognise a pre-tax charge of £44 million in its income statement for the six…

Scottish Building Society announced financial results for the year ended January 31, 2016, showing its savings balances increased 3.1% to £342.1 million and that total assets…

BT said on Thursday its broadband and telephone business Openreach and its EE mobile phone network would between them spend £6 billion to extend superfast broadband…

Aberdeen-based oil and gas services giant Wood Group has been awarded a three year contract extending its work with Shell’s eight UK Continental Shelf offshore assets,…

The Royal Bank of Scotland chairman told the company’s annual general meeting that the EU referendum is “generating additional uncertainty” for the UK economy and that…

Scottish law firm Aberdein Considine said it will merge with Glasgow solicitor estate agent A&S Ireland. The combined businesses, which will trade under the Aberdein Considine brand, will…

Challenger bank Virgin Money said it grew its gross mortgage lending by 30% to a record £2.1 billion in the first quarter of 2016 compared to the same period last year….

Aegon has agreed to acquire BlackRock’s UK defined contribution platform and administration business to strengthen its position in the UK workplace savings market. Aegon said it will acquire £12 billion…

Edinburgh-based Sainsbury’s Bank said its total income rose 5% to £274 million and underlying operating profit increased 4.8% to £65 million in the past year. The bank said it will launch new mortgage…

Edinburgh-based pensions and investment firm Standard Life said it agreed to acquire AXA Portfolio Services Limited — which trades as Elevate — to further strengthen its position as a platform provider…

Edinburgh’s new tram system, which connects the city centre to Edinburgh Airport on the western edge of the Scottish capital, has boosted demand for business…

Glasgow-based Collagen Solutions, a manufacturer of medical grade collagen biomaterials, appointed Jamal Rushdy as chief executive officer to succeed Stewart White, who has moved to the post of chief…

British Airways said it will start new daily flights between Heathrow and Inverness on May 3. It will operate an Airbus A319, with up to 143 seats, on the…

Glasgow-based packaging firm Macfarlane Group has continued its acquisition spree with an agreement to buy the packaging business of Edward McNeil Limited. Macfarlane said the deal was…

Weakness in emerging markets took a toll on Aberdeen Asset Management’s results for the six months to March 31, 2016, with revenue, profit and assets…

The average FTSE 100 firm’s defined benefits pension scheme saw its asset allocation to bonds increase from 56% to 59% in the year to September 30, 2015, according…

The collective deficit of the UK’s private sector defined benefit pension schemes has grown to £294 billion from £262 billion in the past year, with funding levels falling from 83%…

Australian technology entrepreneur Craig Wright has claimed he is the creator of digital currency Bitcoin. If true, the news would end the years of speculation about the indentity…

A NatWest real estate report on “Building Momentum: The Northern Powerhouse” said the economic success of the North of England depends on collaboration, innovation and…

Marketing, media and PR group Beattie said it generated record profits of £590,000 and grew turnover by 17% to £8.6 million in 2015. Now headquartered in London, Beattie has eight offices across…

A Miami seafood company has been sentenced to three years of probation and fined $50,000 for falsely labeling salmon as a “product of Scotland.” The US Attorney’s Office…

Law firm Harper Macleod said it has increased its share of the Scottish legal market as it announced a record performance for its most recent financial year. The…

Royal Bank of Scotland on Friday reported an operating profit of £421 million for the first quarter of 2016 compared with £37 million in the same period of 2015….

Shareholders of Glasgow-based engineering firm Weir Group on Thursday voted down the company’s proposals on directors’ pay packages. Weir shareholders voted 72.4% against two resolutions on directors’…

Royal Bank of Scotland said on Thursday “there is a significant risk” that it will miss the December 31, 2017 deadline for it to sell…

Statistics published by the National Records of Scotland (NRS) show the estimated population of Scotland was a record 5,373,000 in mid-2015, helped by a positive overall…

Glasgow-based engineering firm Weir Group said on Thursday its strong cost reduction measures helped it deliver first quarter profits slightly ahead of expectations, despite a significant reduction in…