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Scottish Business Briefing - Thursday July 5, 2012

Bob Diamond: grilling by MPs did not affect markets. Picture: Getty

Bob Diamond: grilling by MPs did not affect markets. Picture: Getty

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.

BANKING

Markets unfazed by Bob Diamond’s grilling by MPs on Libor scandal

ANDREW Tyrie’s Treasury select committee failed to land a serious blow on Barclays Bank or its former chief executive yesterday as markets shrugged off attempts to get to the bottom of the Libor-rigging crisis.

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ECONOMICS

Services sector hit by weak pace of growth

THE UK’s service sector grew at a weaker pace than expected in June, adding to the recent disappointing economic data.

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ENERGY & UTILITIES

Caithness in ‘review of options’ that hints at plans for flotation

NORTH Sea oil firm Caithness Petroleum has resurrected hopes of a possible flotation after appointing Bank of America Merrill Lynch and Morgan Stanley to review its strategic options.

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FOOD, DRINK & AGRICULTURE

Euro crisis hitting exports, with flagship whisky sales suffering

EUROPE’S debt crisis and a shock fall in overseas food and drink sales led to a drop in Scotland’s manufactured exports in the opening three months of the year, prompting business leaders to call for “fairer” taxes and regulations for the key drinks industry.

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PERSONAL FINANCE

Clyde Property doubles pre-tax profit to £644,538

Estate agency Clyde Property has reported a doubling of pre-tax profits from £319,992 to £644,538 as the top end of the housing market continues to hold up and prices in the rental sector soar.

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RETAIL

Johnson to close 100 high street dry cleaning outlets as recession bites

THE UK’s largest dry cleaning chain will close more than a fifth of its stores this year in response to declining trade on the high street.

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Read all today’s retail news from scotsman.com

 

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