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.
Internacionale joins campaigners urging U-turn on rates revaluation
RETAILER Internacionale has joined a campaign to force Holyrood to consider a U-turn on a rates rating delay that has been branded a “stealth tax aimed at the heart of the Scottish economy”. The chain has joined 80 individuals that have already signed the ‘No Delay To 2015 Revaluation’ online petition since it was launched on Tuesday evening (Scotsman)
Bank accounts: OFT says significant change needed
Further significant changes are needed in the market for personal current accounts, the Office of Fair Trading (OFT) has said. The OFT has been reviewing the way the UK’s banks run these accounts, because of concerns over competition and a lack of focus on customers’ needs. But the OFT chose not to refer the market to the Competition Commission (BBC).
ENERGY & UTILITIES
Gaia to ship wind turbine unit to Tonga
A Scottish wind-power specialist will ship one of its turbines about 10,000 miles to the Kingdom of Tonga after winning an order to supply renewable energy-generating technology to the South Pacific state. Glasgow-based Gaia-Wind has been appointed to supply a turbine to help Tonga Power assess the potential for the technology in the archipelago (Herald).
Glasgow wins ‘smart city’ government cash
Glasgow has won a £24m government grant intended to make it one of the UK’s first smart cities. It will use the money on projects to demonstrate how a city of the future might work. They will include better services for Glaswegians, with real-time information about traffic and apps to check that buses and trains are on time (BBC).
Superstorm Sandy hits FirstGroup profits by $15m
SHARES in transport company FirstGroup soared today after revealing that its UK bus business is on the road to recovery despite a fall in sales. The company took a $15 million (£9.5m) hit to profits because of “superstorm” Sandy in the US, but overall the Aberdeen-based firm said its third-quarter trading was in line with expectations (Scotsman).
Edinburgh airport to invest £15m to win new routes
EDINBURGH airport will today launch a drive to win new routes against other Scottish airports by unveiling the country’s biggest yet “war chest” of its type. Scotland’s busiest airport is to spent £15 million over the next year on securing more links, which it hopes will include a long-sought Middle Eastern route (Scotsman).