Scottish Business Briefing - Monday 4 June, 2012
ECONOMICS
Pressure for more QE piles up on the Bank of England
PRESSURE is mounting on Bank of England governor Sir Mervyn King to push the button on another dose of emergency money printing amid an increasingly gloomy economic environment (Scotsman).
Scots SME staff ‘most gloomy’
Employees across Scotland’s small businesses are among the most pessimistic in the UK, new figures today suggest. A study by invoice finance specialist Bibby Financial Services found just 11 per cent of SME owners and managers saw a rise in motivation levels among their staff in the first quarter of this year (Scotsman).
BANKING
Clydesdale at centre of new mis-selling claims
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Hide AdClydesdale Bank has admitted some of its small business customers have interest rate swap agreements, the sale of which by UK banks is now being investigated by the Financial Services Authority amid claims of a potential new mis-selling scandal (Herald).
ENERGY & UTILITIES
Fledgling training firm projects energetic turnover
An energy industry training provider founded only last year is projecting annual turnover of £7 million as it expands its range of survival courses. Survivex was founded by industry veteran George Green after more than 20 years in the oil and gas industry (Scotsman).
Russian exit may set BP shareholders up for £10bn windfall
Shareholders in BP could be in line for a £10 billion windfall if the oil major can agree an exit for its Russian joint venture. The 50 per cent stake in TNK-BP was put on the block last week after the UK group said it had received unsolicited approaches for the holding (Scotsman)
INDUSTRY
Hopes co-op will breathe new life into Hebridean wool industry
A new North Uist co-operative plans to revive the island’s wool-processing traditions by developing a community-owned mill in the Western Isles (P&J).