Scottish Business Briefing - Thursday 12 July, 2012
BANKING
Clydesdale axes 145 Scots jobs
CLYDESDALE Bank has confirmed that 145 posts will be axed in Scotland under the first tranche of the 1,400 job losses announced in April. (Scotsman)
ECONOMICS
Confidence ebbs away as global downturn hits Scots businesses
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Hide AdThe Scottish economy weakened in the second quarter as business confidence seen at the start of the year evaporated in the face the global downturn. (Scotsman)
Scottish Futures Trust defended by Grossart
SCOTTISH Futures Trust (SFT) chiefs have defended the record of the body as it reported cumulative savings to the public sector of £370 million in its four-year life. (Herald)
Housing market won’t bounce back until 2024
AVERAGE house prices are not expected to return to 2007 levels until 2024, warns an economic report that also predicts zero growth this year. In strict cash terms, house prices should climb back to the peak levels of 2007 within the next five years. (Scotsman)
INDUSTRY
Lloyds £50m debt swap deal secures Tulloch’s future
LLOYDS Bank has carried out a second massive debt-for-equity swap at Scots housebuilder Tulloch Homes that will “secure the future” of the business but will also see it post losses of £65 million. (Scotsman)
TRANSPORT
FirstGroup’s £100m asset disposal plan ‘in danger’ warn analysts
PRESSURE mounted on Aberdeen-based transport operator FirstGroup yesterday after analysts detected a “negative signal” over its attempts to sell £100 million-worth of assets. (Scotsman)