Scottish Business Briefing - Thursday 26 May, 2011

BANKING & INSURANCE

Bank of Scotland 'shamed' in complaints scandal

CALLS have been made for a "fundamental overhaul" in the way financial services operate after the Bank of Scotland was yesterday fined 3.5 million over the mishandling of customer complaints (Scotsman)

Scottish Building Society hit by regulation costs

PROFITS at the 163-year-old Scottish Building Society slipped last year on the "double whammy" of a subdued lending market and the costs of complying with added regulation on lenders (Scotsman).

Read all today's banking news from scotsman.com

ENERGY & UTILITIES

Tax hike 'threatens 12bn of investment in the North Sea'

THE full impact of the Treasury's tax grab on Britain's oil and gas industry is laid bare today in a new report which claims that 12 billion worth of investment hangs in the balance (Scotsman)

Read all today's energy and utilities news from scotsman.com

RETAIL

Burberry fashion brand reports 40% profit rise

Luxury brand Burberry has reported profits of 296m for the year to the end of March, up 40% from last year. The results had been expected after the company reported strong annual sales last month (BBC).

Read all today's retail news from scotsman.com

INDUSTRY

MCS set fair for growth with 20m funding

AN AYRSHIRE marine business whose vessels operate around the world has secured a 20 million funding package as it looks to expand its fleet and push further into the renewables sector (Scotsman).

Read all today's industry news from scotsman.com

MEDIA & LEISURE

Town House chief emerges from the 'dark days' in five-star style

Peter Taylor, chairman of the Town House Company hotel group, yesterday insisted his business had emerged "stronger but leaner" from one of the most difficult periods he has ever faced (Scotsman).

Read all today's media and leisure news from scotsman.com