Scottish Business Briefing - Monday 29 July, 2013
FINANCE
AAM hails ‘resilient’ performance as assets dip 1%
Aberdeen Asset Management (AAM) has blamed “heightened market turbulence” for a dip in third-quarter funds under management. The group also said part of the drop was due to steps it has taken to slow the amount of investor cash being ploughed into global emerging market equity funds. AAM said assets under management stood at £209.6 billion as of 30 June, down 1 per cent compared with the end of March (Scotsman)
MANAGEMENT
Legal firms predict cut in tribunals
Fewer employment tribunal cases will be brought against businesses in Scotland, lawyers predicted today, as a controversial shake-up of the claims system came into force. However, trade unions were expected to lead protests against the changes, which will see employees having to pay up to £1,200 to have cases of unfair dismissal and discrimination heard (Scotsman).
FOOD, DRINK & AGRICULTURE
BrewDog shares target may be hit ahead of deadline
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Hide AdTHE co-founder of BrewDog expects the company’s £4 million crowdfunding drive to close before its deadline because of strong take-up from investors. James Watt said the Fraserburgh firm has already raised £2.5m towards the target since it launched the £95 per share Equity for Punks offer on June 20. The fundraising was scheduled to close on January 22 next year but Mr Watt believes the full sum will be raised prior to that (Herald).
Whole Foods organic market boost for ice-cream maker
A LONG established ice-cream maker is hoping for a boost in sales after securing a listing with the Whole Foods Market in Giffnock. Family-owned Colpi, which can trace its roots to before the start of the first World War, made its initial delivery to the American owned chain earlier this month. Colpi currently operates out of retail premises in Milngavie, where it has been since 1928, and Clydebank (Scotsman).
INDUSTRY
Direct Savings in line for £70m Eco boost
About 100 jobs could be created at a Livingston-based firm after it secured a deal, worth as much as £70 million, to install insulation and energy-efficient boilers throughout Scotland. Direct Savings, founded in 2010 by husband and wife team Ged and Eileen Smith, has picked up the contract through the UK government’s Energy Companies Obligation (Eco) scheme, in partnership with Essex-based Climate Energy (Scotsman).
SCOTSMAN CONFERENCE
The Future of the UK Aerospace Industry, 5 Sept, Prestwick
Join expert speakers including: Michael Moore MP & Secretary of State for Scotland; Scott McLarty of Spirit AeroSystems; Gavin Campbell of Bombardier and Murdo Morrison of Flight International as they discuss the big issues facing the UK aerospace industry. For full details see The Scotsman Conferences website. (The Scotsman Conferences)
MEDIA, TECH & LEISURE
National Parks in Cairngorms and Loch Lomond bring in £243m
The importance of domestic tourists to Scotland’s national parks has been revealed in a new report. Cairngorms and the Loch Lomond & the Trossachs National Parks bring in more than one million UK and Ireland visitors annually. The parks contributed £243m to the country’s economy - an increase of 25% on the previous year (BBC).