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-interest environment means Airdrie is lending more
Airdrie Savings Bank increased its lending by a third last year as it sought new avenues for its capital in the current low interest rate environment (Scotsman).
Scottish unemployment: Danger of ‘lost generation’ as jobless total rises 19,000
SCOTLAND’S unemployment crisis could leave a “lost generation” consigned to the dole queue with jobless levels heading back towards the epidemic scale of the 1980s, leading economic and business figures have warned (Scotsman).
ENERGY & UTILITIES
Rig shortage cuts North Sea drilling to eight-year low
Drilling activity in UK waters has fallen to its lowest level since 2003 due to a lack of oil rigs and the knock-on effects of the 2008-9 recession, according to a report published today (Herald).
ABI in red-top alert over £4m payout to Gammell
PRESSURE has mounted on Edinburgh oil explorer Cairn Energy after the Association of British Insurers (ABI) issued a rare “red-top” alert over payments of £4 million to founder Sir Bill Gammell (Herald).
Minister gives printer his seal of approval
ENTERPRISE Minister Fergus Ewing has declared that ambitious companies like Glasgow printer John Watson & Co are the key to building sustainable Scottish economic growth, following a visit to its premises to view a multimillion-pound label printing press (Herald).
Comet saw poor Christmas sales, Kesa says
Electrical goods retailer Comet had a poor festive trading period, its owner Kesa Electricals has said. Like-for-like sales at Comet for the 10 weeks to 8 January fell by 14.5% compared with a year earlier (BBC).