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
Small investors hold key share as Direct Line float nets RBS £800m
THE flotation of Direct Line yesterday saw RBS raise almost £800 million and small investors secure a significant slice of the shares in the UK’s biggest initial public offering of the year ({http://www.scotsman.com/business/management/small-investors-hold-key-share-as-direct-line-float-nets-rbs-800m-1-2567763|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
Senior Scottish economist claims cuts doing more harm than good
ONE of Scotland’s senior economists has warned that the government’s austerity cuts are doing more harm than good for the UK’s long-term economic prospects. Donald MacRae, chief economist of Lloyds Banking Group Scotland, noted that the UK could currently borrow money on the bond markets at a cost of 1.8 per cent, substantially less than that available to many stressed European governments ({http://www.scotsman.com/business/economics/senior-scottish-economist-claims-cuts-doing-more-harm-than-good-1-2568523|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}
ENERGY & UTILITIES
£8m profit every day but Scottish Gas bills ‘rise again’
MILLIONS of Scots face a winter of rising fuel bills, as the UK’s largest energy supplier is today expected to announce an inflation-busting increase for gas and electricity charges. ({http://www.scotsman.com/news/8m-profit-every-day-but-scottish-gas-bills-rise-again-1-2568443|Scotsman|Scotsman}).
{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}
FOOD, DRINK & AGRICULTURE
High spirits: Former Scots rugby star’s firm hits record
Grain merchant Alexander Inglis & Son has reported a record set of results helped by the booming Scotch whisky sector. The company, based in Ormiston, East Lothian, supplies barley to a range of whisky producers and has been run by former Scottish rugby captain Jim Aitken and his family since 1985 ({http://www.heraldscotland.com/business/company-news/high-spirits-former-scots-rugby-stars-firm-hits-record.19121234|Herald|Herald}).
{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}
MANAGEMENT
Kettle to head new Scottish-based architectural and design collective
THE internationally-renowned architect Tony Kettle has teamed up with two former colleagues at RMJM in a new Scottish-based venture with global ambitions. Kettle, who has masterminded a number of high-profile projects in the UK and abroad, will be joined by Colin Bone and David Tripney to form Kettle Collective ({http://www.scotsman.com/business/management/tony-kettle-to-head-new-scottish-based-architectural-and-design-collective-1-2568520|Scotsman|Scotsman}).
{http://www.scotsman.com/business/management|Read all today’s management news from scotsman.com|Read all today’s management news from scotsman.com}
RETAIL
Travis Perkins confirms weaker sales during Olympics
Building supplies group Travis Perkins has confirmed that its sales fell over the summer. The Wickes owner said that sales, excluding the effect of bank holidays and changes in floorspace, fell 3.5% in the three months to 30 September ({http://www.bbc.co.uk/news/business-19921276|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}