Scottish Business Briefing - Tuesday 12 February, 2013
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. BANKINGBarclays axes jobs as profits slump...
View ArticleBarclays axes 3,700 jobs as profits slump
BARCLAYS boss Antony Jenkins unveiled a cultural revolution at the group yesterday which will shrink its investment bank, slash 3,700 jobs and wipe £1.7 billion off costs.The chief executive said the...
View ArticleScottish Life reports record new business
SCOTTISH Life, the pensions division of the Royal London Group, saw sales hit a record last year as financial advisers prepared clients for new rules affecting employee savings.The Edinburgh-based...
View ArticleG4S reaches £88 million Olympics settlement
SECURITY giant G4S fixed the full cost for its Olympic fiasco at £88 million yesterday after reaching an agreement with the Games’ organising committee.The outsourcing giant said it had agreed a...
View ArticleStocks: Banks lead the charge for the Footsie
SPECULATION that Royal Bank of Scotland will follow Barclays’ example and make swingeing cuts at its investment banking operations lifted financial stocks yesterday.Barclays raced to the top of the...
View ArticleBusiness news in brief: Yellow Pages | Lo-Q | Avaloq
YELLOW Pages publisher Hibu reported a 22 per cent fall in print and other directory revenues to £200 million in the final three months of last year.However, the group said digital revenues now account...
View ArticleChris Hoy joins board at Provexis
SPORTS nutrition company Provexis has signed up Sir Chris Hoy as a “brand ambassador” for its Science in Sport (SiS) range of gels and supplements.The Aim-quoted firm said it was formalising a...
View ArticleHouston Brewery toasts Aldi deal amid expansion plans
A MICRO-BREWERY visited by the likes of Neil Diamond, Ally McCoist and Paolo Nutini has become the latest beer maker to unveil expansion plans after signing a £720,000 financing deal with HSBC and...
View ArticleApple boss calls lawsuit ‘sideshow’
Apple boss Tim Cook yesterday called David Einhorn’s lawsuit against his company a “sideshow” but said the board is considering the star hedge fund manager’s proposal to issue preferred stock, calling...
View ArticleCity sees Crest Nicholson float worth some £550m
HOUSEBUILDER Crest Nicholson has narrowed the price range for its float to between 210p and 220p a share, a source yesterday revealed.The firm, which was taken private by Ayrshire entrepreneur Sir Tom...
View ArticleGalliford Try in line for £60m housing projects
Housebuilder Galliford Try has been named preferred bidder for a number of social housing projects worth more than £60 million.HOUSEBUILDER Galliford Try has been named preferred bidder for a number of...
View ArticleRyanair ready to appeal EC’s Aer Lingus decision
IRISH airline Ryanair last night vowed to take its battle for control of rival budget carrier Aer Lingus to court after being told the European Commission (EC) plans to block its takeover bid.At a...
View ArticleMark Carney right to be flexible, says CBI boss
THE head of the CBI yesterday supported the new Bank of England governor Mark Carney’s apparent desire to have more flexibility over monetary policy, including a greater focus on fuelling economic...
View ArticleHeathrow looking to raise £3 billion from airlines
HEATHROW yesterday unveiled plans to invest £3 billion in Britain’s hub airport in a five-year plan that would ultimately be paid for by passengers.The scheme, which requires approval from regulators,...
View ArticleFirms braced for ‘expensive year’ as inflation rises
ECONOMISTS have warned that high oil and utility prices are expected to keep inflation high this year as the Bank of England prepares to deliver its quarterly report this morning.ECONOMISTS have warned...
View ArticleProfits sliding at pawnbroker Albemarle & Bond
PAWNBROKERS have been one of the few boom businesses on Britain’s high street in recent years, but even they are not immune from hard times. Albemarle & Bond yesterday said customers were running...
View ArticleComment: Jenkins faces stern test in Barclays clean–up
ANTONY Jenkins said he would lead a transformation of Barclays bank and he has shown no mercy in culling those activities where he feels it has suffered financial as well as reputational damage.A...
View ArticleScottish lamb promotion given fresh boost
SCOTLAND’S hard-pressed sheep farmers were given a boost yesterday with the promise of government support for a £250,000 campaign to promote the sale of lamb as part of a bigger £1 million support...
View Article£2m ‘to the limit’ funding for new farmers
Admitting it was not as much as he would have liked to do but it was right up to the limit of what he was allowed under European Union regulations, Scottish rural affairs minister Richard Lochhead...
View ArticleAna Stewart to net £2.3m from I-Design sale
I-Design founder Ana Stewart and her husband are set to pocket £2.3 million by selling the firm to US cash machine operator Cardtronics in a surprise deal unveiled yesterday.The Dundee-based cash...
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