Scottish Business Briefing – Thursday 25 April
BANKING
Standard Life tops forecasts with jump in new business
BUOYANT stock market conditions and sweeping regulatory changes in the pension industry have helped Standard Life deliver a forecast-beating rise in sales. The group said the introduction of new “auto-enrolment” rules, which force companies to provide pension schemes for their staff, helped push first-quarter new business up 24 per cent to £6.3 billion, well above the £5.4bn forecast by analysts. (Scotsman)
Co-op walks away from Lloyds branches deal
THE TSB brand is to reappear on high streets this summer after a deal to sell off more than 600 branches belonging to Lloyds Banking Group collapsed. The Co-operative Bank yesterday announced it had pulled out of the “Project Verde” deal, warning that it was not “in the best interests” of its customers, prompting Lloyds to revert to its Plan B of a flotation of the bank. (Scotsman)
Santander bank profits fall 26% to 1.2bn euros
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Hide AdThe eurozone’s biggest bank, Santander, suffered a 25.9% fall in profits for the first three months of the year. The Spanish bank said net profits for the quarter were 1.2bn euros (£1bn), down from 1.6bn euros a year earlier. Santander, which makes about 50% of profits in Latin America, said UK pre-tax profits fell to £282m, from £363m. (BBC)
ENERGY & UTILITIES
Gaia-Wind in turbine push
GAIA-Wind is working with researchers at Strathclyde University to develop more efficient small wind turbines.
FOOD, DRINK & AGRICULTURE
Arran Brewery calls on Treasury to help small brewers
ARRAN Brewery managing director Gerald Michaluk is to lobby Chancellor George Osborne to give more help to Britain’s thriving beer companies. Micro-breweries that produce less than 500,000 litres of beer a year pay only 50 per cent duty under the small brewers’ relief introduced in 2003 by Chancellor Gordon Brown. (Scotsman)
INDUSTRY
SCOTSMAN CONFERENCE: Defence Policy: Protecting Scotland and Preserving Jobs – 14 June, Edinburgh
Book today and secure 20% early bird discount at this unmissable event. Ends 30 April. Top speakers including Angus Robertson MP; Jim Murphy MP and Prof Hew Strachan of Oxford University will debate the big issues facing the defence industry today.
(The Scotsman Conferences)
MEDIA AND LEISURE
Scots firms urged to grow business tourism share
Scottish hospitality businesses have been urged to go for a larger share of the lucrative business tourism market after buyers from across the world met in Inverness. Scotland already takes in nearly £500million from domestic visitors travelling on business, with £121million of that spent in the north of the country. (P&J)
STV boss hails return of Catchphrase quiz show
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Hide AdSTV chief executive Rob Woodward hailed “very strong ratings” from the revival of quiz show Catchphrase but warned that advertising revenues for the full year would likely remain flat despite a 3 per cent increase in the first quarter. Woodward told the firm’s AGM in Glasgow that STV had made a positive start to 2013 with growth in its production business. (Scotsman)