Scottish Business Briefing - Thursday July 5, 2012
BANKING
Markets unfazed by Bob Diamond’s grilling by MPs on Libor scandal
ANDREW Tyrie’s Treasury select committee failed to land a serious blow on Barclays Bank or its former chief executive yesterday as markets shrugged off attempts to get to the bottom of the Libor-rigging crisis.
ECONOMICS
Services sector hit by weak pace of growth
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Hide AdTHE UK’s service sector grew at a weaker pace than expected in June, adding to the recent disappointing economic data.
ENERGY & UTILITIES
Caithness in ‘review of options’ that hints at plans for flotation
NORTH Sea oil firm Caithness Petroleum has resurrected hopes of a possible flotation after appointing Bank of America Merrill Lynch and Morgan Stanley to review its strategic options.
FOOD, DRINK & AGRICULTURE
Euro crisis hitting exports, with flagship whisky sales suffering
EUROPE’S debt crisis and a shock fall in overseas food and drink sales led to a drop in Scotland’s manufactured exports in the opening three months of the year, prompting business leaders to call for “fairer” taxes and regulations for the key drinks industry.
PERSONAL FINANCE
Clyde Property doubles pre-tax profit to £644,538
Estate agency Clyde Property has reported a doubling of pre-tax profits from £319,992 to £644,538 as the top end of the housing market continues to hold up and prices in the rental sector soar.
RETAIL
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Hide AdJohnson to close 100 high street dry cleaning outlets as recession bites
THE UK’s largest dry cleaning chain will close more than a fifth of its stores this year in response to declining trade on the high street.