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.
‘Low growth or no growth’ ahead for Scottish economy
SCOTLAND’s economy faces either a low rate of growth or no growth at all for the rest of the year as the global financial crisis continues to affect jobs and investment prospects, a leading economist has warned (Scotsman}.
Employers face ‘make-or-break’ time, says CIPD
Employers are facing a “make-or-break moment” as many will have to make job cuts if the economy does not pick up, according to a report. The survey by the Chartered Institute of Personnel and Development (CIPD) showed that a third of private sector employers had kept on more staff than they needed to avoid losing skills (BBC).
ENERGY & UTILITIES
Oil and gas minnows may need help from big players to finance drilling
BRITAIN’S smallest oil and gas companies could be forced into the arms of their larger rivals in order to finance their drilling projects after the global economic woes finally caught up with the buoyant energy sector (Scotsman).
FOOD, DRINK & AGRICULTURE
Tesco deal for Aberdeenshire-based Mackintosh of Glendaveny
A COOKING oil maker which supplies products to the Queen and celebrity chef Nick Nairn has sealed a supply contract with supermarket giant Tesco. Mackintosh of Glendaveny, which was founded by Gregor Mackintosh in 2009, will sell all six rapeseed oils from its range in 64 Tesco shops north of the Border (Scotsman).
Further foreign expansion targeted by Scottish IT pair
TWO Scottish computing companies are targeting further international growth after one unveiled bumper profits and the other hired a big-name adviser. Aberdeen-based software firm Absoft posted a 168 per cent rise to £738,000 and Inchinnan-based IT firm Amor Group has signed former UK government chief information officer, Joe Harley, as a non-executive adviser (Scotsman).
Losing the West Coast rail franchise could be positive news for Stagecoach
STAGECOACH could emerge from the current rail franchise bidding wars with higher profits from its train division even if Sir Brian Souter’s firm loses its West Coast route to arch rival FirstGroup, industry analysts claim (Scotsman).