Scottish Business Briefing - Wednesday 20 April, 2011

Published on Wednesday 20 April 2011 09:33

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.

BANKING & INSURANCE

MPs hit out at 'alarming' lack of transparency from banks

A TREASURY committee today slammed Royal Bank of Scotland and Lloyds Banking Group for lack of transparency despite the two banks receiving billions in government support (Scotsman).

Bonuses are back on the agenda as Martin Currie profits rise by 25%

STAFF at Martin Currie, the employee-owned boutique fund manager, saw their multi-million pound bonus pot return after a year in which underlying profits rose by more than 25 per cent (Scotsman).

Read all today's banking news from scotsman.com

INDUSTRY

Redrow in shock plan to sell off Scottish arm

REDROW yesterday dealt a blow to the depressed housebuilding sector north of the Border as it announced shock plans to pull out of the country and put its loss-making Scottish business up for sale (Scotsman).

Read all today's industry news from scotsman.com

RETAIL

High street fears as sales show first monthly fall

FEARS are growing that Scotland's high streets and shopping centres are heading towards a second recession as figures today show the first monthly fall in total sales since records began 12 years ago (Scotsman).

Argos owner Home Retail Group sees profits fall

Home Retail Group, owner of Argos and Homebase, has reported full-year profits of 265.2m, down almost 10%. The drop in profit was in line with expectations, after the retailer issued a warning last month that it would undershoot earlier profit guidance (BBC).

Semichem drags down figures at Scotmid

Scottish co-operative chain Scotmid has sounded "a strong note of caution" for the year ahead after its health and beauty stores in Northern Ireland dragged profits down (Scotsman).

Read all today's retail news from scotsman.com