Scottish Business Briefing - Tuesday 5 November

Inverness Caledonian Thistle: Set to benefit from Korrie Renewables deal. Picture: SNS
Inverness Caledonian Thistle: Set to benefit from Korrie Renewables deal. Picture: SNS
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WELCOME to’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.


Service sector growing but retailers take breather

Further evidence of a healthy economic recovery is likely to emerge today with news of continuing strong growth in Britain’s powerhouse services sector. The figures form part of the regular purchasing managers’ index (PMI) series and follow solid readings for both the manufacturing and construction sectors.


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Independence White Paper: A business plan for Scotland? - 3rd December - Edinburgh

Will the forthcoming SNP blueprint for independence help provide the answers for undecided Scots ahead of next year’s referendum?

Join us to hear keynote speakers including Chris van der Kuyl, from the world of politics and business to debate the merits of the independence white paper. Join the debate today and ask the questions that matter to you. Visit the Scotsman Conferences for more details.


Great save for Caley Jags as biomass heating installed

Korrie Renewables, a division of north-east firm North firm Korrie Mechanical and Plumbing, has diversified into biomass heating and SPL football club Inverness Caledonian Thistle is one of its first customers. The Caley Jags are the first SPL team with a stadium fully heated by biomass boilers, Inverness-based Korrie said yesterday. It is understood the club invested about £200,000 in the project, carried out by Korrie’s renewable-energy division.

(Press & Journal)

Lacklustre trading blamed for downgrade in Aggreko shares

A broker has downgraded shares in temporary power supplier Aggreko citing “lacklustre trading” in one of its key divisions. However Caroline de La Soujeole, from Cantor Fitzgerald, said the Glasgow company’s remains the “preferred play” in the power rental sector. She has concerns over the strategy of APR Energy, Aggreko’s main rival, moving to semi-permanent power instead of temporary and remains to be convinced over the “merits of a turbine led business model”. {{|Herald|Link to article})

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Initiative aimed at helping Scots farmers launched

A MAJOR new initiative aimed at helping farmers across Scotland improve productivity and increase uptake of new technologies and production methods was launched yesterday. “Planning for Profit, a joint venture between Quality Meat Scotland, the National Farmers Union Scotland and the Scottish Skills Development Scheme, is designed to help livestock and mixed farmers raise their performance levels closer to those being achieved by top producers.


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Service sector growing but retailers take breather

High street stalwart Marks & Spencer today revealed a continued fall in clothing sales but insisted there are ‘early signs of improvement’ following the launch of its autumn and winter womenswear collection. However, the group said it remained cautious about its prospects for the remainder of the year as it reported a 9 per cent fall in first-half profits, in line with analysts’ forecasts.


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‘Half of SMEs hesitant to take on apprentices’

Aroundhalf of Scotland’s small and medium sized enterprises seem reluctant to take on apprentices with many concerned about the potential costs and time involved, research shows. In a survey of SMEs for Close Brothers 47% of respondents in Scotland seemed sceptical about the benefits of taking on apprentices.


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