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
Scottish Gas owner Centrica backs out of nuclear deal
SCOTTISH Gas owner Centrica is withdrawing from plans to build nuclear power stations with partner Electricite de France, and will instead return £500 million to shareholders. Centrica had the option of taking a 20 per cent stake in four new reactors, two at Hinkley Point in Somerset and two at Sizewell in Suffolk (Scotsman).
Aggreko keeps the lights on for Super Bowl broadcasters
FANS may have been left in the dark when a power cut at the New Orleans Superdome halted Sunday’s SuperBowl clash between the Baltimore Ravens and San Francisco 49ers, but it has emerged that Scottish power provider Aggreko managed to keep the lights on for broadcasters (Scotsman).
EnQuest secures tax allowance to preserve 500 jobs
NORTH Sea-focused EnQuest has secured a brown field tax allowance to extend the life of its Thistle oil field in a move which it says preserves 500 jobs. The company expects to invest £160 million in the field and believes the spending may create up to 1000 new jobs in the next three years among 30 supply chain partners in cities including Aberdeen (Herald).
Horta-Osorio facing fight over Lloyds bonus
LLOYDS Banking Group’s chief executive yesterday risked an onslaught of public criticism after refusing to rule out taking his annual bonus. Antonio Horta-Osorio and his chairman told a committee largely made up of MPs that talks over the size of the bonus pool – and any pay-out the chief executive was due – were continuing until the end of this month when the bank reports its annual results (Scotsman).
CBI launches new scheme to boost mid-size firms
A PROGRAMME aiming to boost the prospects of medium-sized firms launches today in an effort to replicate the success of the German Mittelstand. The CBI has formed a series of M-Clubs, which will offer extra support to mid-market firms who account for an estimated one-third of private sector jobs and GDP (Scotsman).
TOM heads across Border
SCOTTISH company TOM Vehicle Rental has made a major move into the English market place with the opening of a depot at Trafford Park in Manchester. Director James Rafferty, son of company founder Jim, also highlighted hopes of moving further south with the opening of vehicle rental sites in or around Birmingham and London within the next two years (Herald).