Scottish Business Briefing - Tuesday 14 June, 2011

BANKING & INSURANCE

US financial giant to create 60 Scottish jobs

BANK of New York Mellon has become the third financial services giant to expand its operations in Edinburgh this year, providing some relief to the beleaguered sector. (Scotsman).

Read all today's banking news from scotsman.com

ECONOMY

Scottish job scene weakest in UK as cuts loom

THE employment outlook is worse in Scotland than in any other part of the UK, with public spending cuts weighing heavily, a report published today by recruitment agency Manpower reveals.

http://www.heraldscotland.com/business/markets-economy/scottish-job-scene-weakest-in-uk-as-cuts-loom-1.1106670

Read all today's economics news from scotsman.com

ENERGY & UTILITIES

Osmond opens battle with Aggreko after 168m move

SHARES in Glasgow-based temporary power supplier Aggreko dropped by 3 per cent yesterday after Punch Taverns founder Hugh Osmond pumped more than 168 million into its biggest rival.

http://business.scotsman.com/business/Osmond-opens-battle-with-Aggreko.6784519.jp

Lagavulin disappointment 'won't put us off Shetland' says Faroe boss

FAROE Petroleum chief executive Graham Stewart yesterday pledged to plough on with his company's drilling programme along the Atlantic margin despite yesterday's "disappointing" results from its Lagavulin well.

http://business.scotsman.com/energyutilities/Lagavulin-disappointment-39won39t-put-us.6784523.jp

Buoys could transform oil industry

A SCOTTISH veteran of the oil and gas business has lined up 7 million support from international investors ahead of a push for sales of a new generation of buoys which he claims could transform the economics of North Sea production.

http://www.heraldscotland.com/business/corporate-sme/buoys-could-transform-oil-industry-1.1106644

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

RETAIL

Tesco sales growth remains strong outside UK

Tesco has reported strong sales growth overseas for the first three months of its financial year, but the UK remains moribund. Group sales were up 7.3% versus a year ago, excluding petrol and ignoring the dampening effect of the stronger pound.

http://www.bbc.co.uk/news/business-13759546

Read all today's retail news from scotsman.com