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.
BANKING
‘Shameful, embarrassing’ lack of controls could cost HSBC £1bn
HSBC boss Stuart Gulliver apologised for “the mistakes of the past” yesterday, as the banking giant was forced to set aside nearly £1 billion to cover the cost of mis-selling claims and a money-laundering scandal in the US ({http://www.scotsman.com/business/banking/shameful-embarrassing-lack-of-controls-could-cost-hsbc-1bn-1-2439934|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}
ENERGY & UTILITIES
Scotland gets its first marine energy park in Pentland Firth
SCOTLAND’S first marine energy park was officially launched yesterday in one of the most turbulent stretches of waters in the world. This has already attracted a host of energy developers, and yesterday’s announcement aims to build on its international profile ({http://www.scotsman.com/news/environment/scotland-gets-its-first-marine-energy-park-in-pentland-firth-1-2440253|Scotsman|Scotsman}).
Premier Oil contracts create 350 jobs at Fife firm BiFab
A total of 350 jobs are to be created in Fife and the Isle of Lewis, with the signing of two contracts for an oil production platform. Premier Oil has awarded the contract to Burntisland Fabrications (BiFab), which means the firm will double its workforce by the end of this year ({http://www.bbc.co.uk/news/uk-scotland-scotland-business-19055759|BBC|BBC}).
BP profits fall sharply after it cuts asset values
Oil giant BP has reported a sharp fall in profits in the second quarter of the year after it had to cut the value of a number of its key assets. The company made a replacement cost profit - which strips out the effect of oil price movements - of $238m (£151m) in the April to June quarter ({http://www.bbc.co.uk/news/business-19059034|BBC|BBC}).
{http://www.scotsman.com/business/energy-and-utilities|Read all today’s energy and utilities news from scotsman.com|Read all today’s energy and utilities news from scotsman.com}
MEDIA & LEISURE
Sales at Minoan rocket 2000% to hit £12.6m
HALF year sales at Minoan Group soared almost 2000% to £12.6 million with the chief executive planning further rapid growth after putting in place the infrastructure for a £300m business ({http://www.heraldscotland.com/business/company-news/sales-at-minoan-rocket-2000-to-hit-126m.18299310|Herald|Herald}).
{http://www.scotsman.com/business/media-and-leisure|Read all today’s media and leisure news from scotsman.com|Read all today’s media and leisure news from scotsman.com}
TECHNOLOGY
Expansion deal for Glasgow-based ClinTec
CLINTEC, the Glasgow-based clinical research group, is expanding into Malawi following a deal with a major drugs company. The unnamed pharmaceutical group has chosen ClinTec, which now carries out research from bases in more than 40 countries, as its preferred partner for vaccine development in Africa and Asia ({http://www.scotsman.com/business/management/expansion-deal-for-glasgow-based-clintec-1-2440707|Scotsman|Scotsman}).
{http://www.scotsman.com/business/technology|Read all today’s technology news from scotsman.com|Read all today’s technology news from scotsman.com}