Scottish Business Briefing - Friday January 6 2012
BANKING
Calls for RBS to reveal plans for investment banking operation
ROYAL Bank of Scotland chief executive Stephen Hester is under pressure to issue a statement on his plans for its investment banking operations that could mean up to 5,000 job losses. (Scotsman)
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Hide AdSEP surges to £200m target as it defies gloom in the markets
OVERSEAS investors looking for stable returns have helped Scottish Equity Partners’ new growth equity and venture capital fund reach its £200 million target.
(Scotsman)
INDUSTRY
Armoured vehicle-maker enjoys 51% rise in profits
The Dumfries business saw turnover increase from £19.5 million to more than £21m while pre-tax profits rose from £1.2m to £1.84m, although the underlying increase was even greater because of a hike in directors’ pay. (Herald)
FOOD, DRINK & AGRICULTURE
Eastern promise: Albert Bartlett plans Russian growth
POTATO producer Albert Bartlett plans to expand its business in eastern Europe and Russia after winning its first contracts in the region during last season’s severe drought (Scotsman).
RETAIL
Blacks Leisure to go into administration
Blacks Leisure has said it is to briefly enter administration as part of a takeover deal. The so-called prepack arrangement will wipe out the value of existing shares, which have now been suspended from trading on the London Stock Exchange (BBC).
At last, festive results bring some good news for troubled high street
HOPES that the high street managed to avoid a festive sales meltdown were boosted yesterday as two struggling household names revealed surprisingly robust figures (Scotsman).