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Scottish Business Briefing - Tuesday 22 May, 2012

The pull of M&S Money heralds the retailers reach into banking. Picture: Getty

The pull of M&S Money heralds the retailers reach into banking. Picture: Getty

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.

ECONOMICS

Today’s youth not fit to be employed, says car firm Arnold Clark

MORE than 80 per cent of young Scots are “unsuitable for any employment”, according to one of the country’s biggest firms. A culture of “wholly unrealistic expectations” towards the modern workplace lies behind the decline, the training arm of motoring giant Arnold Clark has told MSPs (Scotsman).

Read all today’s economics news from scotsman.com

ENERGY & UTILITIES

Inverness fast becoming major energy support hub

Inverness is fast becoming a leading centre for support and administration for the energy industry, the boss of a group at the heart of economic diversification in the north said yesterday (Scotsman).

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

FOOD, DRINK & AGRICULTURE

Irn-Bru defies wet weather

Irn-Bru manufacturer AG Barr has defied the wet April weather with an increase in sales. The firm, based in Cumbernauld, said revenue rose 4.3 per cent between February and May which it described as a robust figure as poor weather hit high street footfall (Scotsman).

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

RETAIL

Marks and Spencer sees fall in annual profits

Marks and Spencer has reported a fall in annual profits in what the retailer describes as a tough environment. Pre-tax profits for the year to the end of March were £658m, down 16% from the previous year’s £781m (BBC)

Read all today’s retail news from scotsman.com

TECHNOLOGY

Archangel buys Vitrology

Investment syndicate Archangels has finalised a deal with a Swiss buyer to acquire Glasgow-based biotech contract testing company Vitrology (Scotsman).

Anderson looks for growth in hi-tech advances

JAMES Anderson, who runs the £2.4 billion Scottish Mortgage Investment Trust, has declared he and his team have “little confidence” in companies’ quarterly earnings figures and “none in the views of investment banks” (Herald).

Read all today’s technology news from scotsman.com

 

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