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Scottish Business Briefing - Friday 9 November, 2012

Sir Ian Wood has called for investment

Sir Ian Wood has called for investment

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

Aegon blames regulation changes for sales slump

LIFE and pensions firm Aegon UK has blamed looming regulatory changes for a drop in third-quarter sales, but its profits more than doubled thanks to cost-cutting measures and better investment returns. The Edinburgh-based group said the retail distribution review (RDR), which will ban commission payments to financial advisers from next year, led to a £4 million hit to earnings at its pensions arm (Scotsman).

Read all today’s banking news from scotsman.com

ENERGY & UTILITIES

Sir Ian Wood: we need investment prior to 2014 poll

SIR Ian Wood declined to say whether or not he was worried about Scotland becoming independent but indicated he thought uncertainty about the outcome of the referendum planned for 2014 could impact the North Sea (Herald).

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

FOOD, DRINK & AGRICULTURE

Brewery targets Glasgow for first move into pubs

ARRAN Brewery yesterday unveiled plans to open its first pub, just a week after announcing a merger with the Isle of Skye Brewery. The enlarged company has chosen a former bank building in Glasgow city centre for its maiden foray into the on-trade, which is still subject to planning permission and licensing approval (Scotsman).

Read all today’s food, drink and agriculture news from scotsman.com

INDUSTRY

Balfour Beatty shares slump as it ponders ‘strategic pull-out’

INFRASTRUCTURE group Balfour Beatty sent a shockwave through the battered construction sector yesterday after it admitted it was considering pulling out of some of its operations following a profits warning. Shares in the company plunged by more than 18 per cent after it warned it would miss its profit guidance for 2012, blaming a dearth of major projects (Scotsman).

Read all today’s industry news from scotsman.com

TECHNOLOGY

Boston in NHS security deal

A Scottish networking specialist expects to create 20 jobs after winning a multi-million-pound contract to supply a sophisticated monitoring and access control system for the new South Glasgow Hospital (Herald).

Read all today’s technology news from scotsman.com

TRANSPORT

Tax hikes and consumer squeeze hit Flybe

REGIONAL airline Flybe flew back into the red this summer and warned of possible job losses amid “the most challenging conditions” it has ever faced. A combination of squeezed consumers and soaring taxes on flying pushed it to a £1.3 million pre-tax loss in the six months to 30 September, compared to a £14.3m profit a year before (Scotsman)

Read all today’s transport news from scotsman.com

Read all today’s retail news from scotsman.com

Read all today’s economics news from scotsman.com

Read all today’s media and leisure news from scotsman.com

Read all today’s management news from scotsman.com

Read all today’s personal finance news from scotsman.com

 

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