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Scottish Business Briefing - Friday 27 July, 2012
Barclays has apologised for the Libor scandal
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
Quayle Munro’s move to London raises uncomfortable questions
EDINBURGH merchant bank Quayle Munro is to cut its ties with Scotland after unveiling plans to retrench in its London office to focus on corporate advisory work. The deal was seen as a reflection of shrinking corporate finance work in Scotland and sparked worries that it marked an exodus of key staff. (Scotsman)
Barclays sorry for Libor scandal
Barclays has said it is “sorry for the issues that have emerged over recent weeks”, when the bank has been caught up in a rate-fixing scandal. The apology came as the bank’s adjusted pre-tax profit for the first six months of 2012 rose 13% to £4.2bn. (BBC)
Libor scandal spotlight is on as Lloyds continues to clean house
LLOYDS Banking Group revealed on Thursday that it had received subpoenas from government agencies investigating the Libor rate-rigging scandal. (Scotsman)
Read all today’s banking news from scotsman.com
ECONOMICS
Two years to go before Scotland is recession-free
SCOTLAND will not get back to the prosperity levels it enjoyed before the financial crash until 2014, the country’s chief economist has warned. But traditional Scottish prudence could see Scotland bounce back before the rest of the UK as households north of the Border have higher savings, according to a report yesterday. (Scotsman)
Read all today’s economics news from scotsman.com
ENERGY & UTILITIES
‘No new’ SSE hydro power stations after subsidy cut
The main operator of Scottish hydro power stations said it does not expect to build new ones due to a subsidy cut. SSE, which trades north of the border as Scottish Hydro, had planned several new hydro schemes in the Highlands. (BBC)
Read all today’s energy and utilities news from scotsman.com
TECHNOLOGY
Leaner, fitter Regenersis sharpens focus on Latin America with HDM
ONE of Scotland’s largest electronics industry employers yesterday swooped on a Spanish peer in a takeover deal that will give it access to fast-growing markets in Latin America. (Scotsman)
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Tuesday 21 May 2013
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