Scottish Business Briefing - Friday 16 March, 2012
BANKING
Lloyds latest bad debts sale sees £1.4bn Australian disposal plan
LLOYDS Banking Group has hoisted the “for sale” sign over more than half of its Australian bad debt portfolio as it continues to unwind an estimated £67 billion worth of non-performing loans incurred in the run-up to the banking collapse (Scotsman).
ENERGY & UTILITIES
A good day for ITS Group
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Hide AdAberdeen-based oil and gas service company ITS Group said yesterday it had recently signed contracts worth more than £12million, thanks to rising drilling activity across the world (P&J).
FOOD, DRINK & AGRICULTURE
WORLD shortage means beef prices will remain high
Beef farmers were assured this week by Stuart Ashworth, the head of market intelligence at Quality Meat Scotland, that prices would continue to remain firm for the next couple of years (Scotsman).
INDUSTRY
Marine industry warns on foreign job drain
The growing marine energy industry yesterday appealed for £80 million of investment to realise the potential of wave and tidal power and secure 12,000 jobs for Scotland which might otherwise go abroad (Herald).
MEDIA & LEISURE
Even demise of major rival can’t halt Trinity Mirror profit plunge
STRONG Sunday sales following the demise of the News of the World failed to halt a 40 per cent slide in profits at Daily Record and Sunday Mail publisher Trinity Mirror (Scotsaman).
RETAIL
Ousted Tesco boss Brasher to get near £5m pay-off
THE ousted boss of Tesco’s underperforming UK business looks set to walk away with a pay-out of at least £825,000 plus shares worth a shade under £4 million, it emerged yesterday (Scotsman).