Business news in brief: London Whale| Response| Asda

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SCOTTISH universities have topped a league table for company spin-outs over the last ten years, new research has show.

More than a fifth (21 per cent) of new commercial ventures came from Scottish universities, compared to 19 per cent from London and 18 per cent from the South East between 2003 and 2012, according to research by patent attorneys Marks & Clerk. The universities of Edinburgh and Strathclyde were both in the top ten most active in creating new firms.

‘London Whale’ duo may face arrest

American authorities are considering requesting the arrest and extradition of two former JP Morgan Chase employees for their alleged role in masking the £4 billion trading losses associated with the “London Whale”.

The Whale himself – a trader named Bruno Iksil who earned the moniker because of the size of his derivatives bets – is said to be co-operating with authorities and is expected to avoid prosecution.

Response on call for Student Loans

Call centre group Response has secured a two-year contract extension with the Student Loans Company (SLC).

The Glasgow-based firm will continue to handle inbound customer service calls for SLC, maintaining a partnership between the two organisations that spans more than nine years.

No value was disclosed for the deal, but the Scottish group answers more that two million calls a year on behalf of the loans firm.

Asda staff check out new degree plan

Supermarket group Asda is rolling out a fully-funded honours degree for some of its workers.

In partnership with Middlesex University, the firm will offer 30 employees the opportunity to study for a degree in either distribution or retail while retaining a salaried position.

Asda said many workers had missed out on degrees due to economic conditions and the increased cost of study.