WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
ECONOMICS
Small firms still aiming to invest despite rising costs
Scottish small businesses’ profit margins were squeezed by rising fuel and utility costs and weak trading conditions during the last quarter of 2012, according to research from the Federation of Small Businesses (FSB) ({http://www.scotsman.com/business/management/small-firms-still-aiming-to-invest-despite-rising-costs-1-2721273|Scotsman|Scotsman}).
Recession fears stoked by slide in consumer spending over Christmas
The Christmas woes that faced high street retailers will be laid bare this week, with figures out today showing a drop in consumer spending last month and stoking fears of a triple-dip recession in the UK.Data from credit card provider Visa and Markit Economics revealed that spending fell by 2 per cent year-on-year during December as shoppers kept their hands in their pockets ({http://www.scotsman.com/business/management/recession-fears-stoked-by-slide-in-consumer-spending-over-christmas-1-2721265|Scotsman|Scotsman}).
{http://www.scotsman.com/business/economics|Read all today’s economics news from scotsman.com|Read all today’s economics news from scotsman.com}
BANKING
Loan review delay puts victims under pressure
The review of interest rate swap agreements (IRSAs) sold to small businesses is taking so long many victims risk being time-barred from taking legal action, advisers have warned. It is six months since the Financial Services Authority (FSA) announced a review of all sales of swap-linked products, but 150 pilot case reviews by KPMG and Deloitte on behalf of four banks are yet to be completed ({http://www.heraldscotland.com/business/markets-economy/loan-review-delay-puts-victims-under-pressure.19834089|Herald|Herald}).
{http://www.scotsman.com/business/banking|Read all today’s banking news from scotsman.com|Read all today’s banking news from scotsman.com}
FOOD, DRINK & AGRICULTURE
Scottish salmon continues to make a splash in the Far East
CUSTOMERS in China are continuing to develop a taste for Scottish salmon after official data showed exports to the Far East have hit a record. More fish was sent to Asia in the first ten months of last year than in the whole of 2011, according to figures from HM Revenue & Customs (HMRC) ({http://www.scotsman.com/business/management/scottish-salmon-continues-to-make-a-splash-in-the-far-east-1-2721258|Scotsman|Scotsman}).
{http://www.scotsman.com/business/banking|Read all today’s banking news from scotsman.com|Read all today’s banking news from scotsman.com}
RETAIL
Morrisons’ Christmas sales ‘disappointing’
UK supermarket chain Morrisons has said its sales over Christmas were “disappointing”, even after taking into account difficult market conditions. It said that in the six weeks to 30 December like-for-like sales, which exclude new store openings, fell 2.5% compared with the same time last year. Morrisons said the figures showed it needed to improve its promotions ({http://www.bbc.co.uk/news/business-20929980|BBC|BBC}).
{http://www.scotsman.com/business/retail|Read all today’s retail news from scotsman.com|Read all today’s retail news from scotsman.com}
TRANSPORT
Full steam ahead for Hogwarts Express firm
Jacobite steam trains puffing up and down the west coast line between Fort William and Mallaig have helped the operator to a big rise in turnover. West Coast Railway Company (WCRC) runs the seasonal service, hailed by many travellers as one of the world’s most spectacular railway journeys ({http://www.pressandjournal.co.uk/Article.aspx/3071570|P&J|P&J}).
{http://www.scotsman.com/business/transport|Read all today’s transport news from scotsman.com|Read all today’s transport news from scotsman.com}