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.
AAM to slow emerging markets growth as figures beat forecasts
FUND manager Aberdeen Asset Management (AAM) is aiming to slow the amount of cash investors are placing into emerging markets after enjoying a better-than-expected rise in first-quarter new business. Although clients withdrew money from the firm’s fixed income and property funds, strong flows into its Asia Pacific and emerging market equities funds saw net new business rise by £1.1 billion (Scotsman)
ENERGY & UTILITIES
Boom year for oil and gas sector shines bright ray of light on 2013
HIGH oil prices and the introduction of North Sea tax breaks led to bumper investment in UK waters last year, fuelling hopes of a strong 2013 for the industry. An annual review published today by Deloitte’s petroleum services group shows 65 exploration and appraisal wells were drilled on the UK Continental Shelf (UKCS) in 2012, a 33 per cent hike on the previous year’s total of 49 (Scotsman).
Reducing Energy Demand Towards 2020
The Scottish Government is committed to building a renewable energy industry that will meet challenging 2020 carbon emission targets. This Scotsman Conference, in association with Energy Action Scotland, will look at ways that householders, businesses and the public sector can reduce the amount of energy they use, saving money and to helping tackle climate change. It will consider the UK government’s Green Deal and will ask whether energy reduction is the key to tackling fuel poverty. (The Scotsman Conferences)
Jobs at risk as Border Precision engineering firm calls in administrator
A BORDERS engineering firm has called in administrators, putting 150 jobs at risk. Border Precision in Kelso ran into trouble after directors warned of the impact of “unforeseen difficulties” of bringing new high tech equipment. According to its most recent accounts, losses put the firm hundreds of thousands of pounds into the red (Scotsman).
Merson Signs to expand after loan fund deal
EAST Kilbride-based Merson Signs, which has supplied Heathrow Terminal 5 and the London 2012 Olympics, has become the latest recipient of debt finance from the Scottish Loan Fund (SLF) as it targets further growth. The SLF, meanwhile, announced its first exit yesterday, from Aberdeen-based energy services firm Red Spider Technology (Herald).
MEDIA & LEISURE
Virgin Media adds 60 Bellshill jobs
VIRGIN Media yesterday unveiled plans to create 60 jobs at its call centre in Bellshill to cope with demand for its broadband and TiVo television services. The company already employs about 750 staff at the site, from where it also carries out work for the public sector and small businesses (Scotsman).
Room for improvement at hotel group Chardon Tradin
INDEPENDENT hotel management group Chardon Trading has seen turnover rise more than 4% from £9.5 million to £9.9m but profits were hit by a £1m write-down on asset values. The business, majority owned by veteran entrepreneur Maurice Taylor, manages a number of Holiday Inns across the UK and also runs the Indigo, Marks and EasyHotel brands in Glasgow (Herald).