Scottish Business Briefing – Friday 22 July, 2011

BANKING & INSURANCE

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.

Read all today's banking news from scotsman.com

ENERGY & UTILITIES

ScottishPower profits slump as UK demand for energy plummets

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.

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

FOOD, DRINK & AGRICULTURE

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.

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.

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

TECHNOLOGY

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.

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.

Read all today's technology news from scotsman.com