Scottish Business Briefing - Thursday 12 July, 2012

Sir Angus Grossart has defended the Scottish Futures Trust. Picture: Neil Hanna

Published on 12/07/2012 09:06

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

Clydesdale axes 145 Scots jobs

CLYDESDALE Bank has confirmed that 145 posts will be axed in Scotland under the first tranche of the 1,400 job losses announced in April. (Scotsman)

Read all today’s banking news from scotsman.com

ECONOMICS

Confidence ebbs away as global downturn hits Scots businesses

The Scottish economy weakened in the second quarter as business confidence seen at the start of the year evaporated in the face the global downturn. (Scotsman)

Scottish Futures Trust defended by Grossart

SCOTTISH Futures Trust (SFT) chiefs have defended the record of the body as it reported cumulative savings to the public sector of £370 million in its four-year life. (Herald)

Housing market won’t bounce back until 2024

AVERAGE house prices are not expected to return to 2007 levels until 2024, warns an economic report that also predicts zero growth this year. In strict cash terms, house prices should climb back to the peak levels of 2007 within the next five years. (Scotsman)

Read all today’s economics news from scotsman.com

INDUSTRY

Lloyds £50m debt swap deal secures Tulloch’s future

LLOYDS Bank has carried out a second massive debt-for-equity swap at Scots housebuilder Tulloch Homes that will “secure the future” of the business but will also see it post losses of £65 million. (Scotsman)

Read all today’s industry news from scotsman.com

TRANSPORT

FirstGroup’s £100m asset disposal plan ‘in danger’ warn analysts

PRESSURE mounted on Aberdeen-based transport operator FirstGroup yesterday after analysts detected a “negative signal” over its attempts to sell £100 million-worth of assets. (Scotsman)

Read all today’s transport news from scotsman.com

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Scottish Business Briefing - Thursday 12 July, 2012

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