Scottish Business Briefing - Thursday September 9, 2010

Published on Thursday 9 September 2010 09:21

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.

ENERGY & UTILITIES

We have to talk, Dana boss tells Koreans

TOM Cross, the chief executive of Dana Petroleum, last night issued a plea to the firm's Korean hostile suitors to meet the board of the Aberdeen-based company to negotiate a better price (Scotsman). Yesterday, Dana made an impassioned defence of the firm's value, revealing an independent report that said the UK explorer was worth considerably more than 1.87 billion, the current offer on the table which Dana has already rejected as "inadequate"

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

ECONOMY

Businesses 'turning to pawnshops' as banks close doors

Cash-strapped companies that have seen their line of credit cut off by their banks have been forced to go cap-in-hand to pawnbrokers to stay in business, according to R3, the trade body for insolvency professionalsv (Herald). The companies are thought to be handing over office furniture, company vehicles, machine tools and other equipment as collateral for loans from pawnshops.

Read all today's economics news from scotsman.com

BANKING & INSURANCE

Jobs hit as Aegon axes Edinburgh sales office

AEGON UK is to axe half of its regional sales centres, as part of the first steps in a sweeping restructuring programme that will see it cut costs by a quarter by the end of 2011 (Scotsman). The Edinburgh-based insurer will close six of its 12 sales centres, with 142 staff across the UK being made redundant.

Read all today's banking news from scotsman.com

FOOD, DRINK & AGRICULTURE

Interest is brewing in Borders beer production

FARMER John Henderson has turned back the clock by launching a micro-brewery that will produce Scotland's only "plough to pint" beers (Scotsman). The Scottish Borders Brewery will turn out its first brews next year, restoring a tradition of farm estates producing their own ales.

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

INDUSTRY

Job loss fears as coalition threaten carriers

THE government is considering scrapping the proposed new aircraft carriers, putting the future of shipbuilding in Scotland on the line, the chief executive of one of Britain's biggest defence companies has warned (Scotsman). BAe chief executive Ian King made the dramatic revelation during a hearing of the defence select committee in the Commons yesterday.

Read all today's industry news from scotsman.com

RETAIL

Morrisons to test online shopping

The UK's fourth biggest grocer, Morrisons, has said it hopes to trial online shopping and convenience stores next year (BBC). The Yorkshire-based firm also announced quarterly profit before tax of 410m, against profit of 359m a year before, an increase of 14%.

Read all today's retail news from scotsman.com

Entrepreneur

Be inspired and communicate with other Scottish entrepreneursat http://entrepreneur.scotsman.com. Features includeupdates from The Scotsman's Executive Editor Bill Jamieson, a diary of forthcoming company announcements and networking events and videoadvice on how to succeed with your new business start-up.