Scottish Business Briefing - Monday 16 July, 2012
INSURANCE
Private equity firms could derail Direct Line flotation
Royal Bank of Scotland’s plans to float its insurance arm were today reported to be in doubt as it emerged that two private equity consortiums could launch rival bids for the business. (Scotsman)
ECONOMICS
Weakening jobs growth underscores fragility of Scotland’s economy
Advertisement
Hide AdAdvertisement
Hide AdFresh doubts about the strength of Scotland’s economic recovery emerged today after a key report signalled the weakest labour market conditions in six months. (Scotsman)
Small firms turning to other funding sources
SMALL companies are increasingly turning to the private equity sector for growth funding in the wake of the banking crisis and continued volatility on financial markets. Figures from the British Venture Capital Association show that in 2011 some £40 million was invested in Scottish companies as expansion capital, up from £31m in 2010 and £19m in 2009. (Herald)
ENERGY & UTILITIES
Energy firm Direct Savings warms to expansion opportunity
A Scottish company that started life in a garden shed two years ago is to create 40 jobs in response to increased demand for its energy-efficient products. Direct Savings, founded by managing director Ged Smith and his wife Eileen, currently employs some 130 people. (Scotsman)
Ecometrica to cash in on London drive to cut emissions
AN EDINBURGH firm whose “green” software has been used by corporate heavyweights such as insurance group RSA is pushing into London ahead of tough new emissions reporting standards that will affect hundreds of listed companies. (Scotsman)
FOOD, DRINK & AGRICULTURE
Mama mia: US deal is on the horizon for tea firm
A SPECIALIST tea company is close to launching in the United States with a distribution deal which could be worth more than £250,000 in the first year. Mama Tea, which produces caffeine-free herbal drinks for pregnant women and new mothers, is in advanced talks with Destination Maternity about being stocked in 700 stores across the US. (Herald)