Business in brief: BT | NAB | Essar | IPPR | SECG Scotland

Published on 26/06/2012 00:00

BT IS rolling out high-speed broadband to another 150,000 Scottish homes and businesses next year, taking the total to more than 985,000.

The investment – part of a £2.5 billion BT roll-out across the UK – is expected to boost the economy. Recent research by Regeneris Consulting predicted that, over the next 15 years, it could give the economy of a typical town a £143 million boost, create 225 jobs and 140 start-up businesses.

NAB strengthens European board

CLYDESDALE Bank has appointed Mark Joiner and Rick Sawers, both executives of parent company National Australia Bank, as directors of both the Glasgow-based bank and NAB Europe.

David Thorburn, chief executive of Clydesdale and Yorkshire Banks, said: “Their appointment underlines the group’s support for the new chapter we are beginning following the strategic review.”

Refinery bosses play down loss

THE UK’s second-biggest oil refinery reported a loss yesterday but its new owner said an efficiency drive will help it make money even when oil prices fall.

India-focused Essar Energy bought the Stanlow refinery near Ellesmere Port, which accounts for 15 per cent of production from UK refineries and produces around 1.5 billion litres of kerosene a year for aircraft fuel, from Shell in July.

Nuclear option could boost jobs

GOVERNMENT policy to promote a new generation of nuclear power plants could boost the UK economy by more than £5 billion a year, new research shows.

Figures from the Institute for Public Policy Research also suggest that rebuilding new nuclear energy capacity in the UK could create more than 32,000 jobs while giving a significant boost to annual exports.

Constructing a lift for small traders

SCOTLAND’S construction industry will today launch an organisation aimed at cutting waste and improving cash flow among specialist trades such as plumbers and structural engineers.

Specialist Engineering Contracting Group Scotland said it wants the industry to create “project bank accounts”, so payments for suppliers are protected if a main contractor or other party goes bust.