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.
George Osborne’s flagship is threatening to become a ‘huge white elephant’
THE coalition government’s flagship scheme to kick-start the economy by increasing lending to businesses and consumers has been dubbed a “white elephant” after figures showed less than £500 million in extra cash has been passed on by banks (Scotsman).
Heriot-Watt University ‘generates £278m’ a year for Scottish economy
Heriot-Watt University has published economic research claiming it generates £278m in annual output for the Scottish economy (BBC).
ENERGY & UTILITIES
David Murray sells part of metals arm in £34.5 management buy-out
FORMER Rangers Football Club owner Sir David Murray has sold part of his metals business in a £34.5 million management buy-out (MBO) that sees him part company with key lieutenant Donald Wilson (Scotsman)
Pace of decline slows in UK manufacturing output
MANUFACTURING output in the UK shrank again in November but the pace of decline is slowing, according to a closely watched survey (Herald).
MEDIA & LEISURE
News Corp shake-up sees Thomson in key role in newspapers
RUPERT Murdoch has unveiled a shake up at his News Corporation empire, folding its digital newspaper and appointing leaders for the new publishing arm (Scotsman).
HMV offloads live venues in £7.3m bid to cut debt
HMV yesterday sold more of its live music venue business to cut its debt pile and said more disposals are to follow (Scotsman).