Business news in brief: Scottish Retail Consortium | Chemring | Direct Savings

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IT WILL take “one to two generations” for the banking industry to rebuild the public trust shattered by the financial crisis and a series of mis-selling and manipulation scandals, it was claimed yesterday.

Simon Thompson, chief executive of the Chartered Banker Institute, told the Customer Contact Association annual convention in Glasgow that the industry was “right at the start” of repairing its battered reputation.

Fighting for our town centres

The Scottish Government, the Scottish Retail Consortium and Stirling Council will today host an event in Stirling to discuss the future of town centres. The discussions will feed into the National Town Centre Review.

Fiona Moriarty, director of the SRC, said: “Concern for our high streets has never been more acute and it is important that all levels of government and the private sector work together. Retail has an important role to play in our town centres.

Explosive news for Chemring shares

Chemring saw its shares fall almost 5 per cent yesterday after private equity firm Carlyle Group ruled out making a bid for the defence contractor.

Chemring, which has a major explosives equipment site at Stevenston in Ayrshire, said it continued to face challenges over defence budget cutbacks among Nato members and will update investors on its trading performance on 27 November.

Perth showcase for energy saving firm

Energy efficiency company Direct Savings has invested £100,000 opening a facility to showcase the “next generation” of home heating systems in a UK first for the fast-growing firm.

The Perth expansion will provide the business, which was founded by husband and wife team Ged and Eileen Smith in 2010, with its sixth UK office.