Scottish Business Briefing - Wednesday 17 October, 2012
Royal Bank of Scotland has withdrawn from the governments scheme that provides insurance against losses from banks riskiest assets
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.
INDUSTRY
French flair saves Scottish jobs as Chanel buys Barrie Knitwear
LUXURY fashion house Chanel yesterday acquired the Borders-based Barrie Knitwear cashmere business, securing the jobs of all 176 workers. Barrie will continue to supply other luxury brands and retailers on a non-exclusive basis, currently thought to include the Jermyn Street tailor Turnbull & Asser and US department store giant Nordstrom (http://www.scotsman.com/business/french-flair-saves-scottish-jobs-as-chanel-buys-barrie-knitwear-1-2582659|Scotsman|Scotsman}).
Bellway eyes Scottish land as housing market starts to pick up
HOUSEBUILDER Bellway is investing in land in Scotland in anticipation that a pick-up in the property market around London – that drove a 57 per cent jump in profits last year – will soon become more widespread. The company hiked its dividend by 60 per cent yesterday after reporting a pre-tax profit of £105.3 million, driven by the recovery in its southern divisions (Scotsman).
Read all today’s industry news from scotsman.com
BANKING
RBS leaves government’s toxic asset insurance scheme
Royal Bank of Scotland (RBS) has withdrawn from the government’s scheme that provides insurance against losses from banks’ riskiest assets. The Asset Protection Scheme was set up in 2009 and would have meant that taxpayers had to absorb the losses (BBC).
Read all today’s banking news from scotsman.com
ENERGY & UTILITIES
Aker wins key deal for new gas plan
Aker Solutions has landed a multimillion-pound deal, which will lead to up to 150 people being recruited to work in Shetland and Aberdeen. The company has won a three-year contract from Total E&P UK and its joint-venture partner Dong E&P (UK) at the new Shetland gas plant (P&J).
Plexus continues expansion drive on the back of record revenues
OFFSHORE engineering firm Plexus said it was continuing a recruitment drive after posting record figures earlier today, as its patent wellhead system continued to gain traction with oil and gas majors (Scotsman).
Read all today’s energy and utilities news from scotsman.com
RETAIL
‘Faint glimmers of hope’ on the high street
Scottish shopping sales rose by 1 per cent last month when compared with last year, offering “faint glimmers of hope” during the recession, the Scottish Retail Consortium has said. However, the small rise, which represents the best growth over a 24-month period since the beginning of the year, was flattened out when inflation was taken into account (Scotsman).
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Weather for Edinburgh
Wednesday 19 June 2013
Today
Sunny spells
Temperature: 9 C to 18 C
Wind Speed: 16 mph
Wind direction: West
Tomorrow
Cloudy
Temperature: 12 C to 20 C
Wind Speed: 8 mph
Wind direction: East
