Carney: Saver sympathy must not prevent recovery
BANK of England governor Mark Carney yesterday warned about choking off Britain’s nascent economic recovery with higher interest rates – but expressed “tremendous sympathy” for millions of savers who are losing out. In his first public speech since taking office in July, the Canadian reiterated to a business audience in Nottingham his guidance earlier this month that the Bank will not hike rates until unemployment in the UK falls below 7 per cent from its current 7.8 per cent (Scotsman).
Female investors on the rise in Scotland
A NETWORK for female business angels was launched yesterday in a move aimed at encouraging more women to become involved in backing growth firms. Jackie Waring, chief executive of Investing Women, hailed the success of the new body which saw 300 attend events in Edinburgh over two days (Scotsman).
Bibby seals year-long Maersk deal
BIBBY Offshore, the Aberdeen-based subsea installation contractor, has secured a multi-million pound contract with Maersk Oil UK. The deal will see Bibby’s diving support vessel, Bibby Sapphire, facilitate construction and inspection, repair and maintenance (IRM) activities at Maersk’s North Sea assets. The agreement will take effect in early January and last for 365 continuous days (Scotsman).
The Future of the UK Aerospace Industry, 5 Sept - Prestwick
Last chance to book for this unmissable industry event. Featuring expert speakers including: Scott McLarty of Spirit AeroSystems, Alan Fraser of BAE Systems; Jim Houston of Woodward & Gavin Campbell of Bombardier Aerospace. See The Scotsman Conferences website for more details.
TRANSPORT & INDUSTRY
Macfarlane ‘cautious’ despite 22% jump in profits
Packaging group Macfarlane has reported a 22 per cent increase in half-year profits but said it remained “cautious” in the face of difficult market conditions. The Glasgow-based group there were signs that the economic backdrop was improving, but this has not led to a significant upturn in demand (Scotsman).
Rural forecourts hit by supermarket sweep
Rural petrol stations are struggling to stay afloat as supermarkets increasingly target smaller communities across Scotland, a boss at a Moray fuel supplier has warned. Billy Laing, chairman of Elgin-based Gleaner Oils, said yesterday the rampant expansion of major chains with their own petrol forecourts and price competition between them was making it almost impossible for small, independent operators to survive (P&J).
Arran Aromatics secures £2.8m investment
Candle and soap maker Arran Aromatics took a major step forward in its revival today by securing a £2.8 million investment from the Business Growth Fund (BGF). Turnaround expert Iain Pittman was brought on board as chairman in 2009 when the company was just three days away from being wound up by the tax man over an unpaid £180,000 bill (http://www.scotsman.com/business/finance/arran-aromatics-secured-2-8m-investment-1-3063735|Scotsman|Scotsman}).
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