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Phillip Hammond warned, UK faces Brexit ‘black hole’ of £84bn

Brexit has opened up an £84 billion black hole in the public finances that the Chancellor will have to make up with additional borrowing, analysts have warned.

Business 11
Traders from ETX Capital monitor the markets. Picture: Daniel Leal-Olivas/AFP/Getty Images

Tuesday market close: Carney spurs mini rally for UK currency

Sterling staged a minor recovery after Bank of England governor Mark Carney suggested market reactions to Brexit may be “mistaken”.

Markets Economy 4
Manufacturing orders have dropped in Scotland in recent months. Picture: John Devlin/TSPL

Scots manufacturing orders down, finds CBI

Scottish businesses have seen manufacturing orders drop over the last three months, according to a survey by CBI Scotland.

Scotch Whisky Association boss David Frost. Picture: contributed

Scotch Whisky Association chief steps down

Scotch Whisky Association (SWA) chief executive David Frost is to leave the organisation to take up a new role as foreign affairs special adviser to the UK Foreign Secretary, Boris Johnson.

Ewan McGregor. (Photo by Rob Kim/Getty Images)

Ewan McGregor will attend Edinburgh screening of new film

The red carpet is to be rolled out for Ewan McGregor in Scotland next week for a gala screening of his first film as a director.

Xcite has its operational headquarters in Aberdeen. Picture: Craig Stephen

Oil company Xcite Energy heading for liquidation

Shares in North Sea oil company Xcite Energy were suspended today after crunch talks with its bondholders broke down.

News 1
Dundee-based DSA is gearing up to launch its football management game. Picture: Contributed

Dundee sports games firm targets £1.5m funding goal

A Dundee-based maker of sports simulation games is seeking to raise £1.5 million as it prepares for the launch of its debut title.

Media & Leisure
Stuart Lunn is the chief executive and co-founder of LendingCrowd. Picture: Contributed

SME boost as LendingCrowd lands seven-figure funding deal

An Edinburgh-based peer-to-peer lending platform has secured a seven-figure cash injection under a Scottish Enterprise initiative to boost funding to smaller businesses.

Heathrow airport. Picture: complimentary

Scotland will get ‘significant benefits’ from Heathrow expansion

Proposals to expand an existing runway at Heathrow or build a second runway at Gatwick were rejected.

Transport 48
Fraser Smith is the 2,000th employee to join Aldi in Scotland. Picture: Contributed

Aldi reaches Scottish staff milestone

Supermarket chain Aldi has hired its 2,000th member of staff in Scotland as it remains on track to open its 72nd Scottish store by the end of the year.

Supermarket shopper. Picture: TSPL

Tesco chair warns food prices ‘likely’ to rise due to Brexit

Food prices are “very likely” to rise as a result of Brexit, the chairman of Tesco has warned.

Retail 9
Ecometrica chief executive Gary Davis. Picture: Greg Macvean

Space data outfit boosts environmental monitoring

A Scottish software business is aiming to take the guesswork out of environmental monitoring after tapping into satellite data technology developed at the University of Edinburgh.

Tech 1
HMV Princes street, closing down sale. Picture: Ian Georgeson.

One high street shop a day closing down in Scotland

Around one store closed every day on Scotland’s high streets in the first half of the year, new figures show.

Costa is seeking to tap into the market for 'finer' coffee. Picture: Julie Bull

Whitbread profits perked up by rising Costa sales

Costa Coffee owner Whitbread today reported a rise in half-year profits as it brews up plans to tap the artisan coffee market.

Septoria can reduce wheat yields by up to 50%. Picture: Christopher Furlong/Getty Images

Breakthrough in battle against worst wheat disease

Scientists have taken a major step towards helping plant breeders devise new strategies to improve plant resistance to septoria, the most destructive disease affecting wheat in the UK, it has been claimed.

NFU Mutual said its new policy is aimed at producers with less than 50 hectares. Picture: Contributed

NFU Mutual unveils new policy for smaller farm holdings

A new farm insurance policy, aimed at helping small farmers survive the current economic pressures, has been set up by rural insurer NFU Mutual.

Robertson's contract included the renovation of GCU's Hamish Wood building. Picture: Peter Devlin

Robertson completes £20m project for Glasgow Caledonian

Construction group Robertson has completed a £20 million contract as part of a major redevelopment project at Glasgow Caledonian University.

Companies 1
Wood Group's deal with Hibernia has the potential for two further five-year extensions. Picture: Contributed

Wood Group wins deal for Newfoundland oil platform

Energy services firm Wood Group has won a five-year contract to deliver work on a major oil platform in Canada.

Edinburgh Research & Innovation hailed the 'exciting breakthrough' with Merck. Picture: Ian Georgeson

Licensing deal to give Merck access to Scots innovation

German healthcare giant Merck has signed a licensing deal with Edinburgh University’s commercialisation arm for a pioneering technology developed by academics.

Anthony Browne, chief executive of the British Bankers' Association. Picture: Contributed

Martin Flanagan: BBA chief stops short of apocalypse pow

It is very unlikely that large UK banks would move lock, stock and deposit account out of the UK if, as part of the Brexit negotiations, they lose so-called “passporting rights”.

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