Scottish Business Briefing - Monday 28 May, 2012
ECONOMICS
CBI urges pension funds to build returns through infrastructure
THE UK can secure a £250 billion infrastructure spending boost to rescue the ailing economy by making investors such as pension funds “an offer they can’t refuse”, the CBI says (Scotsman).
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Hide Ad‘Slow and steady recovery’ on the cards for the UK, Item Club predicts
There is “light at the end of the tunnel” for hard-pressed Brits after five “torrid” years, a key forecasting group said yesterday. The average earner will see their finances bolstered by an additional £482 this year and £624 in 2013, according to a special report on consumer spending by the Ernst & Young Item Club (Scotsman).
BANKING
Revolt threat over building society case
THE board of the Scottish Building Society (SBS) is facing a backlash from members after revealing that it has not made provision for a £1 million court case (Scotsman).
Major legal test for banks over derivatives mis-selling
The alleged mis-selling of financial derivatives by banks to small business customers faces a major legal test tomorrow when a Scottish business sues Royal Bank of Scotland in the Court of Session (Herald).
INDUSTRY
Insulation firm turns up heat
A SCOTTISH heating and insulation business is predicting a further surge in its turnover as it introduces an innovative product to the market. Direct Savings has gone from start-up in April 2010 to £12 million in revenue by focusing on loft and cavity wall insulation which is subsidised by Government energy efficiency schemes (Herald).
MEDIA & LEISURE
Upmarket barber is groomed for sales success
AN upmarket men’s hairdresser is hoping to sell its grooming products in department stores and luxury retailers across the UK. Ruffians opened its first barber shop in Edinburgh in March (http://www.heraldscotland.com/business/people/upmarket-barber-is-groomed-for-sales-success.17692177|Herald|Herald}).