Scottish Business Briefing – August 14
ECONOMY
Scottish exports expected to outpace UK
SCOTTISH exports are expected to outpace the UK over the next five years, boosted by performances in aerospace, engineering and whisky, a new report claims today. Scotland is predicted to achieve 2 per cent annual growth in overseas sales by 2017, outstripping the UK average of 0.3 per cent.
FINANCE
Cowdery’s Resolution beats City expectations
RESOLUTION, the vehicle set up by insurance veteran Clive Cowdery to consolidate the sector, spent much of yesterday’s session at the top of the FTSE 100 risers’ board after its half-year profits beat City forecasts. Cost savings and a focus on higher-margin company pensions schemes helped push operating profits for the six months to 30 June up by 17 per cent to £191 million.
Concern at capital’s finance careers outlook
Advertisement
Hide AdAdvertisement
Hide AdEdinburgh can claim to be the UK’s second financial city, but it may have a weaker employment outlook in the sector than its nearest rival Manchester, according to a new report. Scottish Financial Enterprise has said the findings show a “mixed picture” but insists that Edinburgh is “robust compared to other cities”.
FOOD, DRINK & AGRICULTURE
John Swan falls into red on lower sheep prices
Livestock auctioneer John Swan & Sons has slumped to a full-year loss following a drop in sheep prices, but said it has seen an improvement in recent trading conditions. The Aim-quoted firm, which runs markets in Newtown St Boswells in the Borders and Wooler in Northumberland, posted a pre-tax loss of £362,177 for the year to 30 April, compared with a £238,782 profit for the previous year.
(http://www.scotsman.com/business/food-drink-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Click here}
RETAIL
Scotland’s high streets see mini-boom
SCOTLAND’S high streets enjoyed a mini-boom this summer, boosted by the feel-good factor of sporting success and July’s soaring temperatures, new data reveals today. Amid growing hopes that a sustained economic recovery is now in sight, the Scottish Retail Consortium’s latest figures reveal that growth in sales in Scottish stores in the key holiday month was at its highest for two-and-a-half years.
SCOTSMAN CONFERENCE
The Future of the UK Aerospace Industry, 5 Sept - Prestwick
Full agenda now available. Featuring expert industry speakers including: Scott McLarty of Spirit AeroSystems, Alan Fraser of BAE Systems; Jim Houston of Woodward & Gavin Campbell of Bombardier Aerospace. See The Scotsman Conferences website for more details.
TRANSPORT & INDUSTRY
NEL to invest £250,000 in Scottish centre
NEL, the technical consultancy, is investing £250,000 in an erosion flow testing and assessment centre in a further vote of confidence in its Scottish operations. The latest announcement comes just a few weeks after it confirmed a £500,000 spend on a high pressure multi-phase flow facility at its East Kilbride laboratory.