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
RBS vows to move swiftly on lending to ‘gazelle’ firms
Taxpayer-backed Royal Bank of Scotland (RBS) today announced that it will use a Bank of England scheme to provide cheaper funds to UK manufacturers. RBS, said it will target mid-sized businesses, which typically have a turnover of £25 million to £500m and are seen as a key source of future growth ({http://www.scotsman.com/business/banking/rbs-vows-to-move-swiftly-on-lending-to-gazelle-firms-1-2516081|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}
ECONOMICS
Growth slides as price of raw materials rises
GROWTH of the private sector economy in Scotland reached its slowest rate in 20 months in August as orders slumped and the price of raw materials rose, a report out today has revealed ({http://www.scotsman.com/business/economics/growth-slides-as-price-of-raw-materials-rises-1-2516083|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}
FOOD, DRINK & AGRICULTURE
Label firm hopes US tour will bring it a new audience
FLEDGLING Edinburgh start-up UWI Technology is looking to gain further traction in the United States on a tour featuring firms with the potential to combat climate change ({http://www.scotsman.com/business/food-drink-and-agriculture/label-firm-hopes-us-tour-will-bring-it-a-new-audience-1-2516086|Scotsman|Scotsman}).
Golden time for crisp firm
Growing exports of Mackie’s crisps are expected to help the joint venture behind them to a 60% rise in turnover this year. The partnership between Aberdeenshire dairy firm Mackie’s of Scotland and Perthshire potato processor Taypack is eyeing a figure of about £4million, compared with £2.5million last year ({http://www.pressandjournal.co.uk/Article.aspx/2926513|P&J|P&J})
{http://www.scotsman.com/business/food-drink-and-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Read all today’s food, drink and agriculture news from scotsman.com}
RETAIL
Primark sees strong rise in annual sales
Annual sales have risen at clothing chain Primark, helped by “particularly strong” UK trading over the summer, and a “buoyant” performance in Europe. Owner Associated British Foods (ABF) said like-for-like sales at Primark, which excludes new store openings, rose by 3% in the year to 15 September ({http://www.bbc.co.uk/news/business-19540836|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
West Coast line to be nationalised if franchise bid row cannot be settled
THE UK government is preparing to nationalise the West Coast rail line if Virgin’s legal challenge to losing the franchise means an operator has not been appointed by the handover date. Rival operator FirstGroup, which is based in Aberdeen, won the franchise last month after outbidding Virgin Trains in the renewal auction ({http://www.scotsman.com/business/transport/west-coast-line-to-be-nationalised-if-franchise-bid-row-cannot-be-settled-1-2516093|Scotsman|Scotsman}).
{http://www.scotsman.com/business/transport|Read all today’s transport news from scotsman.com|Read all today’s transport news from scotsman.com}