- 'Sustainable' joint campus opens
- Clinic 'can boost IVF success rate'
- Cyclists in cancer charity ride
- Contamination found at nuclear site
- £24,000 fine for Legionnaires' case
- Olympic security test at Hampden
- Gun murder conviction appeal fails
- Scots 'devo-max' option highlighted
- Frew accused breaks down in dock
- House move costs up 69% over decade
- Two hurt in police car accident
- 'Scots should decide on referendum'
- Trump wants windfarm public inquiry
- Former Labour MP Eadie dies aged 91
- Pair hunted after armed bank raid
- Toddler death inquiry announced
- Salmond addresses sterling question
- Second man charged over car death
- Murder accused in blackmail claim
- Woman in court over assault claims
Business
Marston’s sales given festive lift
Pedigree and Hobgoblin brewer Marston’s has joined rival pub chains in reporting strong sales over Christmas and New Year.
Weak demand derails Hornby profits
Toy firm Hornby has admitted its profits have been knocked off track by weak demand for train sets and Scalextric racing cars over Christmas.
Quartermile development ‘sold to London group in £65m deal’
GLADEDALE Capital is selling its landmark Quartermile development in Edinburgh to a London-based property group for an estimated £65 million.
1 commentBeef and milk sectors lead English income rise
ALTHOUGH estimated Scottish farm income figures are not due to be released until next week, comparative figures from England published yesterday show substantial rises, particularly in the beef and milk sectors.
Westminster plan to drive food exports
THERE was positive news for the farming industry yesterday with promises by the UK government that they would work to remove bans on British meat from countries such as China.
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Banking
Radical redesign ‘is essential for pensions’
PENSIONS should be radically redesigned into more flexible “lifetime savings accounts” to help young people pay off debts such as student loans, according to the head of Saga.
Former Lloyds boss Eric Daniels takes job with City adviser to banks
ERIC Daniels, the controversial former Lloyds Banking Group chief, has found a new job in the City advising banks.
Lehman’prophet’ hit by £3.6m fine
David Einhorn, the high-profile American hedge fund manager who foresaw problems at Lehman Brothers before the Wall Street bank collapsed, was hit with a £3.6 million fine from the Financial Services Authority (FSA) yesterday for trading on inside information.
Scott’s key role at Barclays Wealth
BARCLAYS Wealth has bolstered its ranks in Scotland with the appointment of Gordon Scott as a director in its Glasgow private banking team.
I-design is cashing in on sales
CASH machine advertising firm I-design said yesterday that sales in the last three months of 2011 had shown a “strong performance” and it expects further expansion this year.
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Insurance
Radical redesign ‘is essential for pensions’
PENSIONS should be radically redesigned into more flexible “lifetime savings accounts” to help young people pay off debts such as student loans, according to the head of Saga.
Broadening choice in travel insurance
MoneySupermarket.com has launched a new travel insurance channel for people with pre-existing medical conditions, making the task of buying insurance easier for the one in five people who require cover of this type.
Cosmetic surgery industry insurance scheme proposal
An INSURANCE scheme for cosmetic surgery patients could be introduced in the wake of the breast implant scandal.
Aon shifting from Chicago to London
Aon, the world’s biggest insurance broker, will move its headquarters to London from Chicago to improve its access to fast-growing emerging markets and boost its presence in the UK capital’s global insurance centre.
Budenberg steps up to chair UKFI
A SHAKE‑UP was unveiled yesterday to the board of UKFI, the arm’s length UK government quango that oversees the taxpayers’ stakes in Britain’s banks including Royal Bank of Scotland and Lloyds.
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Economics
24 Scots firms go to the wall every week
MORE than 24 businesses a week failed last year as a record number of Scots firms went to the wall.
Sir Mervyn King says recovery will be ‘long, arduous but ultimately successful’
BRITAIN’S recovery will be “arduous, long and uneven” as the government, businesses and households undergo the necessary pain of paying off debt, the governor of the Bank of England warned last night, after figures showed public sector debt topped £1 trillion for the first time.
2 commentsGDP figures set to foreshadow new recession
FEARS of a second recession are likely to heighten today as economists expect GDP figures to show the UK economy went into reverse during the final three months of last year.
Dividend payouts hit record level of £67.8bn
BRITAIN’S listed companies paid out record dividends in 2011, despite difficult economic conditions and recent evidence that more firms were struggling.
UK to reverse globalisation
THE UK and US will be the only major economies to see the globalisation process reverse this year as the process continues despite a faltering world economy.
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Energy and Utilities
Remp parts company with firm he founded
STEVE Remp, one of the best known figures in Scotland’s energy industry, yesterday parted company with the business he founded more than 34 years ago. Remp is leaving his post as executive chairman at Aberdeen-based SeaEnergy – formerly known as Ramco – with a £500,000 compensation payment.
Senior service for new chief Berry
ENGINEERING group Senior yesterday appointed former ScottishPower executive Charles Berry as chairman-designate.
Fuel flows again at troubled refinery
Petrol tankers began leaving the Coryton oil refinery again yesterday morning following a shutdown triggered when the site collapsed into administration.
ATH fails to mine a final dividend
ONE of Scotland’s largest coal miners axed its final dividend yesterday after “difficult mining conditions” caused a drop in operating profits.
Weir’s £113m move raises its stake in controversial ‘fracking’
WEIR Group has further extended its reach into the high-growth but controversial shale gas market with the £113 million cash acquisition of US pump valve maker Novatech.
Retail
January sales fail to deliver
Shoppers gave the high street a January hangover after taking advantage of discounts in the run-up to Christmas.
Irn-Bru maker shrugs aside ‘teething troubles’
IRN-BRU maker AG Barr overcame “teething problems” with new bottling equipment at its factory in Cumbernauld to post industry-beating sales growth.
Interest strong in Peacocks
ADMINISTRATORS looking for a buyer for collapsed retailer yesterday Peacocks said they had been swamped with inquiries from potential purchasers for all or part of the business.
High street plus: Subway and Kiddicare to create thousands of jobs
Fast food franchise Subway and children’s retail chain Kiddicare yesterday announced plans to create thousands of jobs.
More jobs but high street future gloomy
BRITAIN’S struggling retailers still managed to create more jobs in the run-up to Christmas than the previous year despite the consumer squeeze.
Food, Drink and Agriculture
Irn-Bru maker shrugs aside ‘teething troubles’
IRN-BRU maker AG Barr overcame “teething problems” with new bottling equipment at its factory in Cumbernauld to post industry-beating sales growth.
M&B offers food for thought
Restaurants and pubs group Mitchells & Butlers (M&B) yesterday reported strong trading over Christmas and New Year as food sales boosted takings.
High street plus: Subway and Kiddicare to create thousands of jobs
Fast food franchise Subway and children’s retail chain Kiddicare yesterday announced plans to create thousands of jobs.
Mitchells buoyed by busy Christmas
The owner of some of Britain’s best known pubs today revealed busier-than-expected Christmas trading despite the economic storm clouds.
S America trade deal ‘will hit beef farmers’
A TRADE deal which might adversely impact on beef producers in the European Union has been strongly criticised by MEP George Lyon.
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Transport
EasyJet taking off with revenue hike
BUDGET airline EasyJet has unveiled a near-17 per cent rise in first-quarter revenues to £763 million.
Bag charge lifts EasyJet revenues
Budget airline EasyJet reported a surge in winter revenues today after it increased baggage charges and bounced back from the previous year’s snow-hit performance.
Forth Ports’ £95m to take control of container group
Forth Ports has paid £95 million to acquire full ownership of Tilbury Container Services (TCS) in the south of England.
Russell Imrie: Scotland needs high-speed rail to remain on track
SESTRAN fully supports the campaign to bring High-Speed Rail to Scotland.
6 commentsGM bounces back to overtake Toyota
General Motors regained its title as the world’s top-selling carmaker from Japanese rival Toyota in 2011, it emerged yesterday, but the US company faces a challenge to stay on top this year as Toyota rebuilds its disaster-struck business.
Industry
Sparrows puts itself up for sale over debt
AN ABERDEEN crane hire business has been forced to put itself up for sale as lenders put pressure on its owners to call in more than £100 million worth of debt.
Scottish industry’s plunging confidence will hit investment
SCOTTISH manufacturers are to scale back investment across the board as confidence has sunk to a three‑year low amid domestic and foreign pressures, business leaders revealed yesterday.
Renishaw shares surge on turnover
ENGINEERING firm Renishaw shot to the top of the FTSE Techmark risers’ board yesterday after posting record first-half turnover.
Weir’s £113m move raises its stake in controversial ‘fracking’
WEIR Group has further extended its reach into the high-growth but controversial shale gas market with the £113 million cash acquisition of US pump valve maker Novatech.
Quarries ‘merge’ to extend life and jobs
ANGUS Council yesterday gave the go-ahead for plans to extend the working life of two quarries at Monifieth, near Dundee, by 30 years.
Technology
March of the iPhone finds rival mobile giants badly out of tune
THE full impact of the success of Apple’s iPhone was laid bare yesterday as three of the world’s biggest technology companies revealed their struggle to compete.
Martin Flanagan: Shift to smart phones proves a game–breaker
SAYONARA, Super Mario. Hello, the iPhone, iPad and social networks. Game‑changing developments are transforming the electronics landscape and putting more venerable competitors to the sword.
UK firms are cashing in as Apple continues to shine
BRITISH component suppliers were among the beneficiaries of Apple’s record quarterly results after the American consumer electronics giant sold more iPhones and iPads than expected in the run up to Christmas.
Apple’s record sales driven by iPhone frenzy
Technology giant Apple posted record quarterly results after it sold a greater-than-expected 37 million iPhones worldwide in the last three months of 2011.
Pinnacle Telecom wins Olympic contract
A SCOTS telecoms firm yesterday unveiled its highest-profile contract to date after being chosen by the BBC to provide a voice and data network for broadcasters at this summer’s Olympic Games in London.
Management
Remp parts company with firm he founded
STEVE Remp, one of the best known figures in Scotland’s energy industry, yesterday parted company with the business he founded more than 34 years ago. Remp is leaving his post as executive chairman at Aberdeen-based SeaEnergy – formerly known as Ramco – with a £500,000 compensation payment.
Senior service for new chief Berry
ENGINEERING group Senior yesterday appointed former ScottishPower executive Charles Berry as chairman-designate.
Jobs boost from services firm
An extra 40 jobs are to be created in the Moray area by outsourcing firm Capita.
Former Lloyds boss Eric Daniels takes job with City adviser to banks
ERIC Daniels, the controversial former Lloyds Banking Group chief, has found a new job in the City advising banks.
Scott’s key role at Barclays Wealth
BARCLAYS Wealth has bolstered its ranks in Scotland with the appointment of Gordon Scott as a director in its Glasgow private banking team.
Market Reports
Polymetals shines on merger rumour
Shares in gold miner Polymetal surged on the London market yesterday on talk that it may merge with Russian rival Polyus.
Banks prove a heavy drag on FTSE
BANKING stocks dragged the FTSE 100 index down yesterday after the UK’s economic output contracted by more than expected in the final quarter of 2011.
Greece bounces back to dent bourses
London’s leading share index retreated from a six-month high yesterday as hopes of a prompt agreement between Greece and its creditors appeared dashed.
Markets: Greeks could be bearing gifts for FTSE
RISING hopes that Greece will avoid default by thrashing out a deal with lenders pushed London’s leading shares index to a six-month high yesterday.
GDP figures set to clarify position of UK economy
The chances of the UK falling back into recession will become clearer this week when gross domestic product (GDP) figures for the final quarter of 2011 are published, while WH Smith and Carphone Warehouse will provide further insight into the retail sector’s Christmas performance.
Media and Leisure
M&B offers food for thought
Restaurants and pubs group Mitchells & Butlers (M&B) yesterday reported strong trading over Christmas and New Year as food sales boosted takings.
Mitchells buoyed by busy Christmas
The owner of some of Britain’s best known pubs today revealed busier-than-expected Christmas trading despite the economic storm clouds.
Arab Spring fails to hurt All Leisure
CRUISE ship operator All Leisure Group sailed back into the black in the year to 31 October after its Discover Egypt remained profitable despite the “Arab Spring” uprisings.
Nuffield buys De Vere gyms
HOTELS group De Vere has sold its 15-strong gym business to healthcare charity Nuffield Health for an undisclosed sum.
Boutique hotel chain moving into Dundee
BOUTIQUE HOTEL chain Malmaison has confirmed that it is to open a fourth site in Scotland in a move that forms a key part of the £1 billion transformation of Dundee’s waterfront. The firm will begin work this spring converting the decaying Tay Hotel, a recognised landmark.
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e-Business
N Brown pins hopes on spring
Catalogue and online shopping group N Brown is pinning its hopes on its spring range after extra discounting squeezed profit margins in the run up to Christmas.
Laptop users warned over buying sites’ valuations
Many laptop-buying companies are offering far below market value for old computers, according to a new Which? investigation.
5 comments2012 rush for online dating
DATING websites will have their busiest day of the year for new subscribers today as single men and women try to find love in 2012.
2 commentsThompson new chief of Yahoo
YAHOO has named Scott Thompson, president of EBay’s PayPal division, as chief executive, the fourth in less than five years for the struggling internet company, which has been without a permanent boss since September.
Mobile firm cashes in on tourism deal
One of the world’s largest phone companies has unveiled a deal allowing it to tap into the boom in Chinese visitors to the UK.
Opinion
Martin Flanagan: Shift to smart phones proves a game–breaker
SAYONARA, Super Mario. Hello, the iPhone, iPad and social networks. Game‑changing developments are transforming the electronics landscape and putting more venerable competitors to the sword.
Martin Flanagan: Let’s keep talk of fresh recession in proportion
WE MOVED closer to re‑entering recession in the final quarter of 2011 as UK output fell for the first time in a year. It’ll be a close‑run thing whether we do go into a double‑dip, and the CBI yesterday issued its own depressing update from the manufacturing industry to add to the gloom.
Bill Jamieson: Finding a level of risk we are happy with is hard
BRILLIANT! Having spent Christmas and New Year in a blue funk getting our tax affairs sorted in order to avoid fines and penalties if we miss the 31 January deadline, we now learn the staff at HMRC are planning a strike on that date.
Bill Jamieson: Easy to forget that down follows up
SO WHAT are a “better economy” and “socially responsible capitalism”, exactly? Once David Cameron and Ed Miliband have finished flashing their soundbites and defined more accurately what it is they want, how do we get there?
3 commentsMartin Flanagan: Constructing survival is proving difficult
A BUILDER sucking air through his teeth and shaking his head somewhat mournfully when assessing the cost of a proposed loft/kitchen extension, etc is a cheerless rite of passage for many householders.
Personal Finance
Radical redesign ‘is essential for pensions’
PENSIONS should be radically redesigned into more flexible “lifetime savings accounts” to help young people pay off debts such as student loans, according to the head of Saga.
Jeff Salway: Bank workers know pitfalls of share perks
FOR Bank of Scotland and Royal Bank of Scotland workers, the chance to buy discounted shares in their employer seemed a no-lose deal.
Will Year of Dragon cause burnt fingers?
After a punishing year for Asian markets, most experts think the worst is over, says Jeff Salway
Top ten tips: Protecting your identity
Declined credit, empty bank accounts, overwhelming debt: these are just some of the potential consequences of having your identity compromised. James Varga, of Edinburgh–based online identity verification service miiCard, gives his top tips on how to protect one of your most important assets: your digital identity.
Heated Debate
Help is at hand for those struggling to heat their home, writes Lyndsay Russell
2 comments- Scottish independence: Backlash warning as English identity rises
- Scottish independence: Momentous day as Salmond outlines referendum vision
- Scottish independence referendum: Fresh trouble for Alex Salmond over adviser’s damning e-mails
- Warning from woman left brain damaged after binge accident
- Scottish independence referendum: One question, ten words, you choose
- Scottish independence: Momentous day as Salmond outlines referendum vision
- Scottish independence: Posing a simple question proves far from easy
- Scottish independence: Backlash warning as English identity rises
- Scottish independence referendum: One question, ten words, you choose
- Scottish independence referendum: Fresh trouble for Alex Salmond over adviser’s damning e-mails
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Weather for Edinburgh
Friday 27 January 2012
Today
Light rain
Temperature: -3 C to 4 C
Wind Speed: 10 mph
Wind direction: South west
Tomorrow
Sunny spells
Temperature: 0 C to 5 C
Wind Speed: 7 mph
Wind direction: South west
