Scottish Business Briefing - Friday 12 August, 2011

ECONOMY

Pay freezes hit three quarters of workforce

Three quarters of workers say they have had no pay rise in the past year, forcing many to make cuts to their regular monthly savings. (Scotsman)

Read all today's economics news from scotsman.com

BANKING & INSURANCE

Scottish Equitable costs drag Aegon to loss

AEGON UK fell 15 million into loss in the second quarter of the year as it took a hit on impairments and the costs of addressing administrative problems at Scottish Equitable. (Scotsman)

Read all today's banking news from scotsman.com

FOOD, DRINK & AGRICULTURE

Scottish luxury ice cream sales 'hit by weather'

Luxury ice cream sales in Scotland have been melting away as a result of poor weather and tough economic conditions, according to producers. The Ice Cream Alliance said firms were also being squeezed by rocketing costs for raw materials. (BBC)

Read all today's food, drink and agriculture news from scotsman.com

INDUSTRY

Haughey's cool 11m as fridge firm profits soar

Willie Haughey, the Gorbals-born entrepreneur who founded Glasgow-based facilities management group City Refrigeration, banked a dividend of more than 11 million last year following strong growth in sales and profits at his family-owned business. (Scotsman)

'We're doing fine without Alere' says Axis-Shield chairman

AXIS-SHIELD chairman John Brown yesterday launched the medical testing kit maker's defence against a hostile takeover bid by saying the Dundee firm did not need a larger parent company to sell its machines. (Scotsman)

Read all today's industry news from scotsman.com

RETAIL

New stores keep profits growing for Dobbies

GARDEN centre chain Dobbies has shrugged off the effects of "difficult" winter trading to carve out a modest rise in full-year profits, thanks in part to new stores. (Scotsman)

Read all today's retail news from scotsman.com