Scottish Business Briefing – Friday 22 July, 2011

WELCOME to's Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.


Now FSA turns spotlight on reasons for collapse of HBOS

CITY regulators have announced a formal inquiry into the failure of HBOS, three years after it was forced into a merger with Lloyds TSB.

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ScottishPower profits slump as UK demand for energy plummets

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PROFITS slumped at ScottishPower in the first half of the year as falling demand due to a depressed UK economy and higher wholesale energy prices took their toll.

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Capital pubs chain set to be sold for 30m

Scottish tycoon Kenny Waugh is expected to announce the sale of a chain of pubs and hotels today as he continues to break up his loss-making leisure empire.

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Second seafood firm netted by Associated

Associated Seafoods, the Glasgow-based consolidation vehicle, has bought its second fishing company in as many weeks after yesterday netting scampi-maker Moray Seafoods for an undisclosed sum.

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Microsoft revenues hit a record as Xbox sales soar

The US technology giant Microsoft said its annual revenues hit a record of $69.94bn (43.4bn). Sales of the company's Xbox 360 videogame console and its Office software helped fuel the growth.

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Wolfson reveals 'crystal clear' chip

WOLFSON, the Edinburgh-based microchip maker, yesterday unveiled a component that it believes will lead to clearer mobile telephone calls.

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