ECONOMYScotland to miss worst of job lossesThe CBI has predicted that thousands of British manufacturing jobs will be lost as the economic outlook darkens, however, Scotland looks like likely to miss out on the w
orst of the fallout. Business leaders believe that Scotland's strong reliance on exports will allow it to weather the worst of the coming storm with the majority of the 18,000 predicted job losses expected in London and the south of England. Assistant director of the CBI Scotland, David Lonsdale explained: "Scottish industry is more upbeat compared to firms in many other parts of the UK. At the heart of this remarkable resilience – despite tough competition and rising costs – is a strong reliance on exports, and the good news is that export optimism among Scots firms for the year ahead has perked up. However, the continued health of the sector cannot be taken for granted, and a supportive environment or business is critical."
(The Scotsman)Insolvencies to growDespite the confidence of the CBI over the manufacturing sector, a leading corporate recovery specialist has predicted that the number of businesses failing north of the Border will climb by 20 per cent in 2008 as the credit crunch begins to bite in earnest. Head of business recovery and insolvency at Scottish chartered accountancy practice Campbell Dallas, David Hunter made the gloomy prediction in comments to the Herald. He said: "Businesses are already finding it more difficult to operate in the current economic environment. Suppliers are finding it particularly difficult to pass on rising costs to their customers. That's the first part of the problem. At the same time, banks are not as generous as they used to be, and because of the way they've tightened up their own practices, they're accelerating the end for businesses that are already struggling." He added: "A credit crisis like this takes time to work through the system. As insolvency practitioners, we'll see these problems a year down the road – more administrations and more liquidations. The banks have become very cautious about debts and they are increasing their security – I'm not saying I agreed with it, but it's understandable. The banks were getting wellied for a long time. Now, however, if property is involved in a business, a bank will probably take the mortgage as standard security. They'll also become involved in debt collection, vehicle leasing and stock. They are quickly and inevitably tightening their belt, and the result is that more companies will be forced out of business."
(The Herald) Read all today's economics news from scotsman.comINDUSTRYBone back in family handsThe Bone Group is back in family hands after Chris Bone stepped in to take over from chief executive David Higgins at the Wishaw-based steel group. Bone is back in charge at the company after a spell in sports management and was appointed following the resignation of Higgins who had been in the top chair since the September 2006 resignation of Sandy Bone. The group has contracts to supply steel for the new Motherwell College to be built at Ravenscraig as well as the new terminal building being built at Glasgow Airport.
(The Herald) Read all today's industry news from scotsman.comTECHNOLOGYBusinesses not cashing in on university researchNew research by Universities Scotland has revealed Scottish businesses are failing to cash in on the research work done by the nation's seats of learning. Companies north of the Border are failing to license patented technology or collaborate with universities according to the survey and, claim the group, are some of the least innovative businesses in the world. Spokesman for Universities Scotland, Robin McAlpine commented: "The problem is that, with some extremely strong exceptions, Scottish industry is not reaching out to take advantage of the IP (intellectual property) Scottish universities are trying to push towards them. What we need is to create a demand side for Scottish IP." SCDI spokesman Niall Stuart added: "You have to make businesses more aware of the opportunities in our universities, both in terms of high-tech research capability, but also more practical things like sales and marketing know-how, language skills and basic IT skills."
(The Scotsman) Read all today's technology news from scotsman.comTRANSPORTMaxi in profit boostAyrshire haulage firm Maxi Group has booked pre-tax profits of £3.1 million in the face of soaring fuel costs. Turnover at the privately owned group was up eight per cent in the year to September 30, hitting £38.7 million as compared to £34.9 million in the previous year. Chairman Gerry Atkinson commented: "Continuously providing the highest levels of customer service at competitive prices achieved by hard work, commitment and expertise at all levels, and a bit of luck, have produced another year's satisfactory results." He added: "Last year's growth was very much driven by the way we've pushed our Irish business. Basically, we haul big loads between the UK and Ireland, north and south. We offer a high quality service and there seems to be a market for that. Last year, we made 420 round trips between the UK and Ireland. We held on to all our major customers and we've added a few more as well."
(The Herald)Highlands airports' record figuresMore people are using the airports in the Highlands and Islands than ever before, according to new figures. Over the past year 1,270,023 passengers used the airports operated by Highlands and Islands Airports Ltd which include Inverness, Wick and now Dundee among their portfolio. Managing director at HIAL, Inglis Lyon commented: "The vital role played by air transport in our region and the commitment of airlines to enhancing services have seen passenger demand increase and our airports handle record volumes of traffic in the past year. Increases to frequency and capacity on routes operated by Loganair have been a significant contributory factor to the growth achieved this year, helping to make the region's remotest locations more accessible. At Inverness, the withdrawal of the Liverpool and Heathrow services slowed growth for the year."
(BBC Scotland Online) Read all today's transport news from scotsman.comPROPERTYTulloch expands land portfolioInverness based house builder Tulloch has revealed its largest ever land bank acquisition, closing the £30 million deal in the face of gloomy predictions of a housing market slump. The purchases see land in North Kessock, Fortrose and Parks Farm near Inverness added to the developers portfolio and will see 500 new plots developed over the next decade. Chairman David Sutherland admitted that the credit crunch was having an impact on the sector but he remained confident that the Scottish market would weather the storm. He commented: "We believe, particularly in Scotland, the market is there, but more importantly we believe in our product."
(The Scotsman) Read all today's property news from scotsman.com
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