Scottish Business Briefing – June 19th 2013
BANKING
Reckless bankers should face jail say MPs
HIGHLY-paid bankers should be subject to a new criminal offence of “reckless misconduct” that could see them jailed if they act irresponsibly, the banking commission recommends today. The long-awaited report by the parliamentary commission has come up with a series of tough new measures to prevent a repeat of the 2008 financial crash that saw the Royal Bank of Scotland and HBOS bailed out by public money.
ENERGY & UTILITIES
Renewables projects forge ahead
TWO renewable energy schemes moved a step closer to fruition yesterday, with a major offshore wind farm receiving planning consent for its onshore work, while a whisky-to-energy development in Rothes entered its final stages. Mainstream Renewable Power applied for planning permission last year to build its £1.3 billion Neart na Gaoithe offshore wind farm off the coast of Fife.
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Vion takeover: 2 Sisters deal approval ‘secures thousands of of jobs
A takeover of the Vion UK Poultry business by 2 Sisters has been given approval, securing thousands of jobs at plants across the UK. The Office of Fair Trading has ruled the acquisition did not create a competition issue. It should safeguard about 1,600 jobs in Scotland, including 1,000 at
INDUSTRY
Downturn ‘atomising’ small Scots construction firms
THE downturn in the construction industry has “atomised” the small-to-medium sized building sector in Scotland as larger family owned businesses fail and are replaced by newer but smaller companies, the trade body for sector has warned. The Federation of Master Builders (FMB) yesterday submitted a report to the Scottish Government outlining ways to save companies from failing.
Asbestos specialist extends reach beyond core markets
A specialist asbestos removal company in Moray said yesterday it was enjoying strong growth, thanks to entering new markets. Elgin-based Northern Asbestos Services (NAS) was established eight years ago, with its workforce growing from five to 40 in that period
MEDIA & LEISURE
Pair will leave in Leith and Newhaven merger
Newhaven, the Scottish creative agency which recently challenged the Scottish Government’s procurement policy in court, has given up its independence in a sale to The Leith Agency. Ken Dixon and Jonathan Shinton, two of four co-founders who broke away from Leith 11 years ago, taking Tennents as their founding client for Newhaven, will leave the merged firm.