Scottish Business Briefing - Monday 9 January, 2012
ECONOMICS
Light from private sector suggests Scottish economy holding its own
Scotland’s private sector continued to expand in the closing weeks of 2011 with the first rise in new business for four months, keeping economic growth hopes alive (Scotsman).
Shareholders will be given power to cut executive pay
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Hide AdShareholders are to be given a vote to rein in spiralling executive pay and bonuses as part of a government blitz on “crony capitalism”, David Cameron has said (Scotsman).
MEDIA & LEISURE
Hodgson expands caravan empire in major new deal
East Lothian-based leisure entrepreneur Graham Hodgson has expanded his latest caravan park empire by acquiring a business in Northumberland in a multi-million pound deal (Herald).
RETAIL
HMV reports Christmas sales slump
Troubled retailer HMV has reported a sharp fall in sales for the Christmas period but noted a slowing in the decline of its music and film business. Like-for-like sales, which strip out the effect of shop closures, fell 8.1% in the five weeks to the end of the December. Total sales were down 16.6% (BBC).
Blacks Leisure: JD Sports in advanced talks over deal
JD Sports has confirmed that it is in “advanced discussions” with struggling outdoor clothing retailer Blacks Leisure about buying its assets (BBC).
TRANSPORT
CityJet announces Scottish base and sets sights on BA
CITYJET is going into battle with British Airways over Anglo-Scottish business travellers as it prepares to announce a raft of services and the creation of a base at Edinburgh airport (Scotsman).