Scottish Business Briefing – Thursday 14 June, 2012 - Management

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Scottish Business Briefing – Thursday 14 June, 2012

Newton Property is eyeing a move into the Dubai market place

Published on 14/06/2012 08:59

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

Transaction slump hits Quayle Munro forecasts

SHARES in Scottish merchant bank Quayle Munro slumped dramatically after warning it will fall into the red this year due to a slowdown in corporate transactions. (Scotsman)

Read all today’s banking news from scotsman.com

ENERGY & UTILITIES

Cairn lines up £414m swoop for North Sea oil explorer Nautical

Oil company Cairn Energy has unveiled a £414 million cash bid for Nautical Petroleum, its second swoop this year on an explorer focused on the North Sea. (Scotsman)

Rumours of consolidation prompts surge for Valiant

SHARES in North Sea-focused Valiant Petroleum surged 7% yesterday amid speculation it could get swept up in the expected round of consolidation in the area. (Herald)

Read all today’s energy and utilities news from scotsman.com

INDUSTRY

Carronvale calls in the receivers and axes 15 jobs

A HOUSEBUILDING company with roots stretching back to 1960 has been shut down after its bankers called in the receiver. Grangemouth-based Carronvale Homes had outstanding debts of £11.6 million at the end of March 2011 and a significant overdraft with Clydesdale Bank. ({http://www.scotsman.com/business/banking/carronvale-calls-in-the-receivers-and-axes-15-jobs-1-2352596]|Scotsman|full story})

Newton mulls move into the Dubai market place

GLASGOW-based residential letting and factoring business Newton Property, which is majority-owned by sector veteran Stephen O’Neill, is eyeing a move into the Dubai market place. It also plans a sizeable acquisition of a factoring business in west central Scotland in the next year, as it pursues an ambitious expansion strategy. (Herald)

Read all today’s industry news from scotsman.com

TECHNOLOGY

Smart move for Glasgow group with second metering contract

SHARES in Glasgow-based utility meter supplier Smart Metering Systems (SMS) soared after it announced the second contract in as many months for its new device. (Scotsman)

Read all today’s technology news from scotsman.com

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Scottish Business Briefing – Thursday 14 June, 2012

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