Scottish Business Briefing - Tuesday 17 April, 2012

Like-for-like sales at Marks and Spencer fell 0.7%
Like-for-like sales at Marks and Spencer fell 0.7%
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WELCOME to’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.


Global Energy sells 25% stake to Mitsui in drive for further growth

The owners of Scottish engineering heavyweight Global Energy have sold 25 per cent of the company to Japanese conglomerate Mitsui in order to fund plans to grow the business and cement a partnership between the two firms (Scotman).

Norwegian North Sea oil find gives Cairn Energy shares a welcome boost

SHARES in oil and gas explorer Cairn Energy received a boost after the firm unveiled some rare good news about an oil discovery in the Norwegian sector of the North Sea (Scotsman).

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Marks and Spencer hit by stock shortage

Like-for-like sales at Marks and Spencer fell 0.7% in the 13 weeks to the end of March. The retailer said its performance in womenswear was mixed, with some areas doing well but others short of stock in best-selling lines (BBC).

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SMS hails ‘solid year’ as rental income snowballs

SMART Metering Systems (SMS), the Glasgow-based firm that floated on Aim last year, yesterday hailed a “solid 2011” and said revenues continue to grow thanks to the snowball effect of its rental incomes (Scotsman).

HEROtsc targets 100 jobs as it opens new site

Call centre operator HEROtsc has vowed to recruit a further 100 staff over the next couple of months after cutting the ribbon on its seventh Scottish site (Scotsman).

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Pharmacells aims to lead world in stem cell supply

SCOTS stem cell storage company Pharmacells has announced its acquisition of the assets of Edinburgh-based biotech firm Immunosolv, in a deal bosses believe will propel it to “world-leader” status in the supply of stem cells for research (Herald).

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