Scottish Business Briefing - Friday 20 May, 2011

BANKING & INSURANCE

Aegon unveils latest cuts as 213 are axed and 106 'outsourced'

Aegon is to axe more than 200 roles and outsource another 100 in the latest phase of its 80 million cost-cutting programme. Staff at the firm's UK headquarters in Edinburgh were told yesterday that 213 roles are being cut in the group's marketing, IT and personal support functions, with further 106 roles being transferred to supplier firm Oc.

Read all today's banking news from scotsman.com

ENERGY & UTILITIES

Cairn reveals sale plan if Vedanta deal falls through

CAIRN Energy chief executive Sir Bill Gammell yesterday told shareholders he would consider selling a small stake in his firm's Indian subsidiary to fund drilling in Greenland if the 5.9 billion sale of Cairn India to Vedanta falls through

Read all today's energy and utilities news from scotsman.com

INDUSTRY

Ayrshire firm Maxi bucks the trend despite a profits dip

MAXI Group, the Ayrshire haulage-to-construction firm, yesterday unveiled a slight dip in profits, hampered by unprecedented rises in the cost of fuel and shipping, along with intense competition.

Engineering chief Hughes urges rethink over energy

PETER Hughes, chief executive of industry body Scottish Engineering, last night called on First Minister Alex Salmond to reconsider Scotland's energy policy and appealed for all available proven technologies including nuclear to be included.

Read all today's industry news from scotsman.com

RETAIL

HMV to sell Waterstone's book chain for 53m

HMV has agreed to sell its Waterstone's book chain to a fund controlled by Russian billionaire Alexander Mamut for 53m. Mr Mamut already owns 6% of HMV, which has issued a string of profits warnings this year.

Read all today's retail news from scotsman.com

TECHNOLOGY

After quiet 2009, a 'normal' flu season a boost for Axis-Shield

MEDICAL testing kit maker Axis-Shield yesterday reassured investors by saying a "more normal" flu season - following the previous winter's quiet spell - means the Dundee-based firm is on course to hit City expectations.

Read all today's technology news from scotsman.com