Lloyds boosts balance sheet with sale of £800m bad mortgage debt
LLOYDS Banking Group beefed up its balance sheet yesterday when the 40 per cent taxpayer-owned bank sold more than £800 million of bad debts linked to Australian property loans.AET SPV Management, a...
View ArticleEnvironmental policy proposals ‘not best way’
European farming unions continued to pile pressure on farm ministers and on the European Commission this week on the unsuitability of the present environmental proposals in the forthcoming reform of...
View ArticleAggreko’s global reach extended by African deals
TEMPORARY power specialist Aggreko has secured a ground-breaking $250 million (£162m) deal to set up a plant supplying both South Africa and Mozambique, helping to plug electricity shortages in both...
View ArticleBusiness rate discount cut turns focus on Osborne
Chancellor George Osborne has come under pressure to ease the tax burden on owners of empty commercial properties in England after his party north of the Border criticised plans to cut the relief...
View ArticleMarkets: Scent of fresh money lifts sentiment
FTSE 100 CLOSE 5384.11 +123.92Bank shares surged on Wednesday amid a wider market rally as hopes of fresh money printing on both sides of the Atlantic stoked investor confidence.Britain’s benchmark...
View ArticleDiageo spends £1bn on distilleries to grow emerging markets share
SCOTLAND’S largest whisky maker yesterday named three sites for two new distilleries as it unveiled a £1 billion investment to keep up with the thirst for Scotch in emerging markets.Diageo – owner of...
View ArticleScottish Business Briefing - Thursday 7 June, 2012
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. ENERGY & UTILITIESAggreko’s global reach...
View ArticleTrap Oil raises £4.3m in share placing
Trap Oil, the Aim-quoted explorer that bought Banchory-based Reach Oil & Gas last year for £30 million, has raised £4.3m through a share placing.Cash raised through the placing will be used to fund...
View ArticleUK service sector remains in growth territory
Britain’s powerhouse services sector continued to grow at a steady pace in May, a key report today revealed, confounding analysts’ expectations for a slowdown.The headline activity index for the latest...
View ArticleJohnson Matthey offers divi boost
Chemicals giant Johnson Matthey provided a catalyst for its share price today by revealing a 58 per cent jump in profits and a windfall for shareholders.An ongoing shift towards greener technologies...
View ArticleCentral bank holds back on launching further QE
The Bank of England resisted pumping more cash into the struggling UK economy today despite mixed signs on the health of the recovery and rising tensions in the eurozone.The most recent £50 billion...
View ArticleRab Energy fund says yes to Parkmead’s bid for Deo
PARKMEAD moved closer to securing its bid target Aberdeen-based Deo Petroleum yesterday after a major shareholder confirmed its backing for the deal.The Rab Energy Fund has given an irrevocable...
View ArticleUS suitor makes deal which will save 397 Clinton Cards stores
A US buyer yesterday stepped in to acquire the remains of high street retailer Clinton Cards in a deal which will save 397 stores and 4,500 jobs.Ohio-based American Greetings, which has been one of the...
View ArticleMobile phone competitors join forces in push for 4G
TWO of the world’s largest mobile network operators are to join forces in a bid to speed up the delivery of super-fast 4G services to UK households.Vodafone and O2-owner Telefonica will continue to...
View ArticleADL strengthens overseas hold by buying Australian coachbuilder
BUS builder Alexander Dennis Ltd (ADL) yesterday accelerated its international expansion strategy by snapping up an Australian firm in an estimated £25 million deal.The Falkirk-based vehicle maker has...
View ArticleEdinburgh-based Logan Energy getting ahead after MBO
DIRECTORS at Edinburgh-based fuel cell supplier Logan Energy have led a management buy-out from their American parent company in order to secure second-round funding.Atlanta-based Logan Energy...
View ArticleMelrose shareholders flex their muscles
More than 10 per cent of shareholders in Melrose Resources yesterday opposed the Edinburgh-based oil and gas firm’s executive pay plans.The group, which held its annual meeting yesterday, said 89.2 per...
View ArticleTalisman deal means big lift for EnerMech
EnerMech, the Aberdeen-based engineering group, yesterday announced its largest contract yet in a deal thought to run into tens of millions of pounds.The contract will see the company manage the UK...
View ArticleEnglish law firm merger partner for Biggart Baillie
The recent run of consolidation in Scotland’s legal sector continued yesterday when Biggart Baillie announced plans to merge with English business law firm DWF, writes Gareth Mackie.The deal, which...
View ArticleBusiness in brief: US | Eastern | Johnson Matthey | Network Rail
US Federal Reserve chairman Ben Bernanke took the air out of a rally in the price of oil yesterday when he gave no signal of imminent action to help the US economy.Bernanke said the Fed remains ready...
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