Scottish Business Briefing – May 2nd 2013

Scottish retail sales are lagging.   Picture: Ian Rutherford
Scottish retail sales are lagging. Picture: Ian Rutherford
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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.

INDUSTRY

Superglass in £12.2m share call to stay in business

Shares in insulation maker Superglass collapsed as the Stirling-based firm unveiled plans for a last-ditch re-financing to stave off administration. The company, which employs about 170 at its factory in the city, said it had lined up enough subscribers for a £12.2 million share issue and has also reached agreement with lender Clydesdale Bank to convert some of its debt into equity.

Read all today’s industry news from scotsman.com

ECONOMICS

SCOTSMAN CONFERENCE

The Economics of Independence 2013 – 4 June, Edinburgh

Join delegates for this truly unmissable event as expert speakers including: Nicola Sturgeon, Alistair Darling, Rupert Soames, Jim McColl and leading academics as they debate arguably the most crucial issues in the Scottish independence debate.

(The Scotsman Conferences)

Read all today’s economics news from scotsman.com

ENERGY & UTILITIES

Royal Dutch Shell profits up in first quarter

Oil giant Royal Dutch Shell has reported profits of $7.95bn (£5.1bn) for the first quarter of 2013, up 3.5% from a year earlier. Strong refining and trading performances boosted profits, despite production troubles in Nigeria. The company also announced that chief executive Peter Voser would retire in the first half of 2014.

Read all today’s energy and utilities news from scotsman.com

FOOD, DRINK & AGRICULTURE

Brothers split Douglas Laing & Co whisky business

WHISKY blender and bottler Douglas Laing & Co is splitting into two businesses after its owners, brothers Fred and Stewart Laing, decided to go their separate ways. Fred will keep the Douglas Laing & Co name along with brands including Big Peat, Director’s Cut and King of Scots, while Stewart launches Hunter Laing & Co, which will own the Premier Bond bottling plant in East Kilbride.

Read all today’s food, drink and agriculture news from scotsman.com

RETAIL

Travel group Barrhead in retail space expansion

HOLIDAY provider Barrhead is bucking the decline in high street travel shops with plans to invest £300,000 in expansion during the coming year. The company is set to acquire a further 10,000sq ft of retail space in Scotland and the north of England, taking its network to a total of 100,000sq ft.

Scots retail sales lag behind rate for GB as whole

RETAIL sales growth in Scotland lagged behind the rate for Britain as a whole in the opening three months of the year and failed to keep up with inflation. Figures released yesterday by the Scottish Government showed the value of retail sales grew by 0.6 per cent in the three months to 31 March, with volumes rising just 0.3 per cent.

Read all today’s retail news from scotsman.com

TECHNOLOGY

Regenersis technology plant jobs in Inchinnan at risk

A consumer electronics repairs plant in Renfrewshire looks set to close, with the loss of up to 130 jobs. Technology solutions firm Regenersis confirmed it had launched a 45-day consultation period with the entire workforce at its factory in Inchinnan. The company primarily refurbishes mobile phones at the plant near Paisley.

Read all today’s technology news from scotsman.com