Scottish Business Briefing – Monday 15 April, 2013
ECONOMICS
Scotland’s growth slows but firms remain resilient
SCOTLAND’S economy continues to put in a resilient performance, despite an easing in its private sector growth rate. During last month, service sector firms and manufacturers alike took on additional staff, helping to clear backloads of work, according to a closely-monitored survey of hundreds of Scottish businesses (Scotsman).
Public sector job cuts: Full pain ‘still to be felt’
THE full pain of public sector job cuts is “still to be felt” with up to 340,000 posts expected to be axed before the next general election, a prominent economist warns today. Dr John Philpott, former Public Policy director and chief Economist at the Chartered Institute of Personnel and Development, said losses are expected to accelerate up to 2015, with almost as many local and central government jobs cut in the next two years as have already been lost since 2010 (Scotsman).
£150k funding for ‘personal mall’ website Mallzee
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Hide AdA YOUNG entrepreneur believes he has the potential for a global company on his hands after securing £150,000 in funding to help launch his online fashion venture. Cally Russell, 25, who founded “personal shopping mall” site Mallzee.com last year, has received the backing of private investors and development agency Scottish Enterprise as he prepares for the service to go live in June (Scotsman).
MEDIA & LEISURE
Kinloch Lodge reopens after £750k ‘transformation’
ONE of Scotland’s most renowned island hotels is poised for further success after undergoing a £750,000-plus upgrade and expansion programme. Kinloch Lodge, in Sleat on the Isle of Skye, already has a strong international following and its restaurant holds Skye’s only Michelin star (Scotsman).
Ladbrokes warns slower trading will hit profits
Bookmaker Ladbrokes has warned that trading has been worse than expected in the first three months of 2013. The firm blamed a drop in profits from the Cheltenham races and lower revenues from high value gaming customers (BBC).
TECHNOLOGY
£80,000 wireless monitoring system for quicker, cheaper service
A NEW wireless monitoring system is being employed in a broad range of industrial processes following a collaboration between Booth Welsh, an Ayrshire-based engineering services company, and Glasgow Caledonian University. The system cost £80,000 to develop and replaces cable-based monitoring sensors with wireless technology (Herald).