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Scottish Universities show enterprising growth as spin-offs numbers rise
THE number of spin-off businesses coming out of Scotland’s universities has more than doubled over the past two years as a drive to encourage entrepreneurship pays off.
Business news in brief: Xcite | InterContinental Hotels | Lansdowne | Pearson
Today’s buisness news in brief
Profit slump on the buses leads First to plan a new route map
Scottish transport company FirstGroup is to accelerate the restructuring of its UK bus business after profits at the division fell by almost 10 per cent.
3 commentsBusiness in brief: QinetiQ | Dairy Crest | Cove Energy | Christie Finance
Today’s business news in brief.
300 Scots business leaders sign up to campaign for more non-execs
NEARLY 300 Scots business leaders have signed up for a new service aimed at boosting the number of non-executive directors on the boards of small and medium-sized companies.
Regulators lift restrictions on Sky as pay-TV movie market opens up
REGULATORS have reversed their decision to limit BSkyB’s role in the UK’s pay-TV movie market following the emergence of rivals such as Netflix and Lovefilm.
Business news in brief - 23/05/12
Scotgold | Wyvis Roofing | Lees Foods | Flying Brands | Glasshouse Hospitality
Wonga.com rapped by OFT over aggressive behaviour
PAYDAY lender Wonga.com has been criticised by the trading watchdog for using aggressive and misleading debt collection methods.
Tesco boss turns down bonus
THE HEAD of the supermarket giant, Tesco, took responsibility for the organisation’s dismal UK trading today by spurning his annual bonus worth £372,000.
Business briefs: Man Group | Cloudreach | Mitie
HEDGE fund manager Man Group is to buy investment firm Financial Risk Management (FRM) as it seeks to reduce its dependence on its flagship AHL fund.
Business briefs: WPP | Millstream | CWW | Vodafone
ADVERTISING giant WPP is buying a stake in a Burmese ad agency just days after the US lifted a ban on investments in the country, which is emerging from 50 years of military rule.
Complementary first acquisition for Hunter Adams
A HUMAN resources (HR) firm in Aberdeen has made its first acquisition as it remains on course to turn over £1 million during its first year in business.
One to Watch: Douglas Flint
Investors’ group Pirc is calling on members to oppose the re-election of the HSBC chairman on Friday, making him the latest target for the shareholder spring.
The week ahead: Retailers to reveal just how chilly the climate is
A RETAIL week looms in City results, with Marks & Spencer, ASOS, Mothercare and Burberry among those set to update the market against a tough high street trading backcloth.
Scots pipped to top roles, but more gaining permanent posts
MORE than a quarter of senior jobs in the Scottish financial services sector are being filled by candidates from outside Scotland, according to a survey published today.
People: Raising a glass to breweries’ battle
Edinburgh’s Stewart Brewing is taking on a Highland rival in the third of its charity beer battles.
This time it will fight it out with Cairngorm Brewery in an event that has now sprawled out over three pubs.
SDI helped 1,000 firms to expand
OVERSEAS trade agency Scottish Development International (SDI) has created or safeguarded more than 7,000 jobs in Scotland during the past year and helped 1,000 Scottish firms – including Brewdog, Cocoa Black and Mackies – to trade overseas, data will today claim.
Punch aiming to beat down debts
Britain’s biggest pub operator has reportedly started talks to reduce its £2.3 billion debt mountain, which are set to spark a bitter battle for control of the company.
Jobs at risk as deal expires for refinery
Nearly 1,000 jobs were in jeopardy last night amid reports that an oil refinery that went bust is likely to be closed and turned into a storage terminal.
Ryanair turns profit into major dividend
BUDGET airline Ryanair is set to splash out on a €500 million (£404m) special dividend when it reports its full-year trading figures today.
Interview: Allan Leighton, deputy chairman of An Inspirational Journey
ALLAN Leighton is thinking about women. Perhaps not surprisingly, given the fact that when we speak he is about to face more than 200 of the UK’s brightest female business talent to discuss the challenges they have to overcome climbing the corporate ladder.
Wettest spring on record puts a damper on M&S
THE wettest spring on record and financial turmoil in the Eurozone are set to cast a cloud over annual results at high street retail icon Marks & Spencer this week.
Consumers see modest fall in inflation as oil prices ease
HARD-PRESSED businesses and consumers are likely to get some respite this week when figures show inflation has fallen back from its recent highs – though other news on the economy remains grim.
HBJ Gateley boosts its ranks with new partners
LAW firm HBJ Gateley is continuing to beef up its partnership following the loss of six senior staff in Glasgow last year, while rival Pinsent Masons has made its first senior hire since taking over McGrigors earlier this month.
Major retail developments ‘are finished’
PROPERTY experts say the rapid growth of online shopping means the days of big retail developments are over.
2 commentsPayday loans can lead to spiral of debt, report warns
A THIRD of people who have taken out payday loans have run into even greater financial difficulties as a result, a new report has revealed.
John Menzies figures taking off, led by aviation division contract wins
Logistics company John Menzies reported a strong start to the year yesterday, with trading in line with expectations of the board and analysts.
Stagecoach buys back US arm it sold at a loss ten years ago
SCOTTISH transport giant Stagecoach is paying £101 million to buy back large parts of the business it sold almost ten years ago.
1 commentBusiness briefs: Rain puts lid on SIG roofing sales | Winnebago offer
BUILDING materials supplier SIG has reported weaker sales in the UK as the wettest April since records began hit the group’s roofing business.
Markets fall after bank downgrade
The financial storm on the continent gathered pace today after a key agency slashed the credit ratings of several Spanish banks - including the UK arm of Banco Santander.
Scottish Business Briefing - Friday 18 May, 2012
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.
Now French Connection suffers high street woes
THE tough trading conditions afflicting Britain’s high streets were brought into sharp focus today as fashion chain French Connection issued a fresh profit warning and forecast little near-term relief.
‘Massive’ vote against Cairn Energy board as shareholders rebel
SHAREHOLDERS dealt the board of Cairn Energy a heavy blow over executive pay yesterday as 67 per cent voted against its remuneration report.
2 commentsRoss Harper sale complete
The remaining parts of the failed Ross Harper law firm have been sold as the Court of Session confirmed the appointment of Ian Mitchell of accountancy firm Henderson Loggie as judicial factor.
Independence debate still to have impact on commercial property
The prospect of Scottish independence has not yet had an impact on the commercial property market, although estate agents have warned there is a “risk consideration” being made by potential investors, it was revealed yesterday.
Business news in brief 17/05/2012
Tullow shareholders rebel; Land Securities on good footing; Ian Marsh joins Scottish Widows and Speedy Hire back in black
Tennent’s owner toasts rising profits
TENNENT’S lager maker C&C Group is on the hunt for acquisitions both in the British Isles and internationally after unveiling a €500 million (£400m) war chest, alongside a rise in full-year profits.
1 commentEnterprising move on pubs
ENTERPRISE Inns, the UK’s biggest pub landlord, has largely completed plans to dispose of a large chunk of its estate after raising £264 million from the sale of more than 1,000 venues over two years.
F&C plans growth in Edinburgh
F&C Asset Management, the fund manager with a sizeable presence in Edinburgh, has unveiled plans to beef up its consumer business ahead of rules coming into force under the retail distribution review (RDR).
Confidence is key: Women urged to push to the top
Lack of self-confidence is preventing women from climbing the corporate ladder, according to the head of an organisation that aims to encourage more female representation at the top of British businesses.
Small firms bear brunt of big business’s failure to pay bills on time
BRITAIN’S big companies are facing calls to sign up to a prompt payment code as it emerged that they owe smaller firms a record £35 billion in unpaid invoices.
Eurozone crisis could widen UK trade deficit
Britain’s trade deficit could widen over the coming months as the eurozone crisis stifles demand for exports, economists warned yesterday.
Business briefs: Tenon job cuts to earn Muir £470k
DONALD Muir, the turnaround specialist who was involved in the sale of Rangers Football Club to Craig Whyte, is set to make £470,000 by cutting RSM Tenon’s workforce by a tenth.
1 commentBusiness briefs: Lees takeover vote | Lockwood takes reins at Laird
Coatbridge-based confectionery maker Lees Foods yesterday confirmed its postponed general meeting will take place on Tuesday, when shareholders will vote on a proposed management buyout of the firm.
Enterprise set to slow pub closures
The UK’s biggest pub landlord said it has completed plans to dispose of a large chunk of its estate after raising £264 million from the sale of more than 1,000 venues over two years.
Cold weather and economic turmoil hits April sales at H&M
Yesterday the group said sales in April were also down 1 per cent, while like-for-like sales dropped 10 per cent in the year, in both cases the biggest drop since August 2009.
Market jitters hit share index
Nervous traders wiped £28.5 billion from the value of London’s leading shares index yesterday as fear intensified that Greece will cquit the euro.
Wheel of fortune favours Rank with £205m casino deal
Mecca Bingo owner Rank yesterday unveiled a £205 million deal with Gala Coral to become the UK’s biggest casino operator.
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Family mourn death of Glasgow ‘fight’ schoolboy
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
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Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 9 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 12 C to 22 C
Wind Speed: 10 mph
Wind direction: North east
