Scottish Business Briefing - Wednesday 20 November

GlaxoSmithKline: 429m pounds raised from Aspen stake sale. Picture: Getty
GlaxoSmithKline: 429m pounds raised from Aspen stake sale. Picture: Getty
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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.


JP Morgan seals deal to settle $13bn mortgage case

Investment banking giant JP Morgan Chase & Co was last night signed a $13 billion (£8bn) agreement with the United States government to settle claims that it had overstated the quality of mortgages sold to investors in the run-up to the financial crash. (Scotsman)

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Superglass boss lobbies PM over lack of insulation

Superglass chief executive Alex McLeod has written to Prime Minister David Cameron to demand changes to the energy company obligation (Eco), one of the UK government’s flagship energy-efficiency schemes. (Scotsman)

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Scottish oil and gas exports put at £30bn

Scottish sales of oil, gas and refined products to the rest of the world have been estimated at £30.3bn. (BBC)

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Glaxo raises £429m from Aspen stake sale

Drugs giant GlaxoSmithKline has raised about £429 million by selling one-third of its stake in South African partner Aspen Pharmacare. (Scotsman)

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Engineering group AMEC sees order book hit record £4bn

The order book at engineering group AMEC has grown to a record £4 billion and the company is on course to hit full-year targets partly as a result of continuing strong activity in the UK North Sea. (Herald)

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Plan to help firms tap into lucrative biotech sector

A strategy to increase turnover from industrial biotechnology (IB) in Scotland from £189 million to £900m by 2025 will be unveiled in Switzerland today. (Herald)

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