Business
US pressure removes Nish from key Standard Life committee
Standard Life chief executive David Nish is to step down from the life and pensions company’s nomination committee amid corporate governance concerns from US institutional investors.
1 comment
New euro threat as Bankia to seek €15bn state bail-out
SPAIN’S Bankia was last night poised to ask for a state bail-out of more than €15 billion (£12bn), marking another rise in the cost of a long drawn-out rescue of the country’s fourth-biggest bank.
Lord Smith to chair green bank
LORD Smith of Kelvin is to chair the Edinburgh-based Green Investment Bank, a £3 billion initiative to provide loans for low-carbon investments.
2 comments
Nasdaq faces $100m-plus legal action as Facebook fallout grows
CLAIMS by four of Wall Street’s main market makers against Nasdaq over Facebook’s botched flotation are likely to exceed $100 million (£64m), as they and other traders continue to deal with thousands of problems with customer orders.
Clydesdale bank brings new names on board for restructuring
Clydesdale Bank yesterday revealed it had beefed up its boardroom to help steer the group through its restructuring process.
1 comment
Dixons retail: Electricals giant’s bullish figures
CURRYS and PC World owner Dixons Retail has assured investors that it is well placed to make a crucial £160 million bond repayment this year after agreeing a new £300m lending facility.
Online demand drives John Lewis
Department store chain John Lewis posted another week of double-digit sales rises, boosted by online demand, but warned that recent wet weather had dampened fashion sales.
Hard times ahead as UK readies to ride out the eurozone storm
Few households have escaped the far-reaching implications of the eurozone crisis – and the worst could be yet to come as events in Europe continue to unfold.
Top tips for a great holiday in some of Scotland’s best B&Bs
With summer finally here, it is the perfect time for a mini- break in one of Scotland’s B&Bs. Here the experts from {http://www. scotlandsbestbandbs.co.uk|scotlandsbestbandbs.co.uk|scotlandsbestbandbs.co.uk} offer tips for choosing a place which suits your needs.
Current account and credit card fraud soars by 82%
Consumers have been urged to keep an eye on their current account and card statements after an unprecedented rise this year in “account takeover” fraud.
Savers missing out on billions in dividend payments
savers turning their backs on equities are missing out on billions of pounds in pay-outs after UK company dividends hit a new record in the early months of this year.
Eurozone uncertainty sees mortgage costs edging up
The Scottish housing market faces a summer of retrenchment that could send both sales levels and house prices slipping downwards, experts have warned.
Alan Steel: Greece may be hitting some heavy financial turbulence, but don’t hand out the parachutes yet
IF YOU’RE like me, you’ll be fed up hearing about Greece. But it’s been going on for longer than you think, for it was more than two years ago that a former European Central Bank Greek insider said it was only a matter of time before Greece collapsed.
Claire Smith: Common-sense food without the eternal mayo!
LATELY I’ve started to love lunchtimes again.
Consumer demand boosts sales of local foodstuffs
IT only opened in April, but a new grocery store in Edinburgh is already bustling with customers shopping for veg grown in East Lothian, fresh meat from the Borders and Perthshire and fish and cheese from the Highlands and Islands.
Scots dad unveils safe social network site for youngsters
FACEBOOK founder Mark Zuckerberg denied this week he was working on plans to open up the social network up to children under the age of 13.
Patriotic potatoes mark the Jubilee
WE’VE all seen the doilies, the flags and the biscuit tins – and the latest figures suggest Brits will be spending £823m celebrating the Queen’s Diamond Jubilee.
First Class service by the Royal Mail
PERTH, Edinburgh, Inverness and Aberdeen all achieved a First Class postal service with more than 94 per cent of letters being delivered on time in the first three months of 2012, according to the Royal Mail.
Plans for lender code of conduct
AFTER a week when the Church of Scotland expressed concern about payday loans and Wonga was criticised by the Office of Fair Trading, the Westminster government has announced plans of a new code of conduct for payday lenders.
Consumer Watch
A NEW European law regulating the use of cookies by online businesses comes into force today.
Investors must seek out strong firms that grow dividends consistently
Investors have ridden a rollercoaster of intense worries about the eurozone debt crisis over the last six months. Amid this turmoil, they could be forgiven for a feeling of bewilderment. This feeling is widespread, reflected in low volumes across stock markets as investors choose to sit on their hands and wait for some resolution to the crisis. So what’s the answer, asks Thomas Moore.
Young urban professionals seek the sunshine in Leith
IT’s not best-known for its yuppies, but Leith has become one of the new hotspots for urban professionals.
Stand up for your rights when buying on the net
UK SHOPPERS currently spend, on average, 25% of their disposal income online – whether buying their groceries from Tesco Direct, purchasing cutprice books and CDs on Amazon or hunting down bargains on eBay.
1 commentIMF’s growth remedy another bitter pill for struggling savers
For pension savers, the implications of the International Monetary Fund’s proposed remedies for the UK’s economic woes could not be much worse.
Top ten tips: Income for your retirement
THESE are hard times both for pensioners and for many of those on the brink of retirement as annuity payments plunge and savings are eroded by inflation.
Even affluent retirees are seeing their income slashed by a combination of low interest rates, poor stock market returns and new drawdown restrictions.
Richard Johnston, chartered financial planner at Murray Asset Management, gives his top ten tips on making your money go further in retirement.
HSBC escapes the shareholder spring effect
HSBC yesterday sidestepped the shareholder backlash over corporate pay with just 10.2 per cent of investors rejecting the bank’s remuneration policy at its AGM.
3 commentsWeale talks up chance of fresh QE
This week’s dreary economic data has strengthened the case for further quantitative easing, but this has to be weighed against above-target inflation, Bank of England policymaker Martin Weale yesterday cautioned.
£14m Algerian loss hits Cape profits and shares
Cape, the FTSE-250 industrial services provider, will take a profit hit after unveiling a £14 million charge for losses on a contract in Algeria.
I-Design hit by shares slump
SHARES in software firm I-Design slumped 11 per cent yesterday after the Red Hot Penny Stocks newsletter cut its recommendation on the Dundee-based stock.
1 commentScottish Universities show enterprising growth as spin-offs numbers rise
THE number of spin-off businesses coming out of Scotland’s universities has more than doubled over the past two years as a drive to encourage entrepreneurship pays off.
1 commentSecond deal in a week for McLaren
DOCUMENT management group Idox yesterday announced its second contract in a week for its Glasgow-based McLaren software subsidiary.
Business news in brief: Xcite | InterContinental Hotels | Lansdowne | Pearson
Today’s buisness news in brief
Row growing over ‘Moonzie effect’ on farm rents
While some farm tenants have suggested the outcome of the recent Scottish Land Court case on Moonzie farm has been the trigger for a spate of rent rises, the chief executive of Scottish Land & Estates said yesterday that any rises merely reflected the fact that Scottish agriculture was enjoying a period of good profitability.
2 comments
Thomas Cook’s appointment of an ‘outsider’ welcomed
HOLIDAY firm Thomas Cook has appointed a new chief executive from outside the travel industry to lead its turnaround.
Harriet Green, who is currently boss of Leeds-based electronic components distributor Premier Farnell, will join at the end of July.
1 comment
Faroe bows to ‘shareholder spring’ as bonus plan shelved
OIL and gas explorer Faroe Petroleum became the latest company to get drawn into the “shareholder spring” yesterday, heading off a potential investor rebellion over a long-term bonus scheme.
Profit slump on the buses leads First to plan a new route map
Scottish transport company FirstGroup is to accelerate the restructuring of its UK bus business after profits at the division fell by almost 10 per cent.
3 comments
‘Ruthless’ plan for turnaround at troubled retail chain Mothercare
MOTHERCARE’S new chief executive vowed to be “ruthless” in tackling the chain’s costs yesterday as a dismal UK performance dragged the retailer to a £103 million loss.
Scottish mining group shares slump as Ayshire expansion plan is shelved
SHARES in Scottish coal mine operator ATH Resources plunged by more than a fifth yesterday after the firm put the brakes on plans to expand its mine at Glenmuckloch, in Ayrshire.
Scotland could miss jobs cull at Hewlett-Packard
Hopes were high today that Scotland can avoid the worst of the 27,000 job cuts unveiled by computer maker Hewlett-Packard (HP) because the American firm has already restructured its facility at Erskine, near Glasgow.
Last-minute cancellation of Drymen Show
A FAILURE to remove livestock from the Drymen show field within the recommended period of four weeks before the event has seen the local authority withdraw its permission for the 200-year-old event, which was to have been held tomorrow.
Roslin wins share of £250m research grants
A £250 million funding package announced yesterday for a range of agricultural research institutes around the UK included £23m support for a project at the Roslin Institute, outside Edinburgh.
Business in brief: QinetiQ | Dairy Crest | Cove Energy | Christie Finance
Today’s business news in brief.
BMW to fight £104m fine over Swiss sales
German car maker BMW has been fined SFr156 million (£104m) for preventing Swiss residents from buying its cars abroad to take advantage of the weakness of the euro.
BT boss picks up £3.85m pay package
IAN Livingston, the Scots-born chief executive of BT, rang up a bumper pay package last year with total salary, cash and share bonuses of £3.85 million, according to the firm’s annual report.
Strathclyde beats top European universities to win Korean deal
THE University of Strathclyde has fought off competition from five other higher education institutions to become the exclusive European partner on a research and development programme backed by the South Korean government.
Daily Mail group profits dip on first-half costs
NEWSPAPER group Daily Mail & General Trust (DMGT) saw its first-half performance hit by the cost of disposals, restructuring and redundancies – but yesterday claimed annual earnings were still set to grow.
Emerging economies drive brewer’s sales as mature markets stagnate
ROBUST growth in Africa and Latin America helped brewing giant SABMiller offset a fall in beer consumption in Europe and North America, with annual profits disclosed yesterday up 12 per cent at $5.6 billion (£3.6bn).
300 Scots business leaders sign up to campaign for more non-execs
NEARLY 300 Scots business leaders have signed up for a new service aimed at boosting the number of non-executive directors on the boards of small and medium-sized companies.
As seen on share–dealing screens: Asos chiefs’ bonus
ASOS bosses pocketed more than £60 million in shares yesterday as profits at the online fashion firm nearly doubled.
- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Scottish independence: Alex Salmond’s pledge to sign up 1m voters
- Today’s youth not fit to be employed, says car firm Arnold Clark
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Sunday 27 May 2012
Today
Sunny
Temperature: 11 C to 21 C
Wind Speed: 12 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 9 C to 21 C
Wind Speed: 12 mph
Wind direction: North east
