Scottish Business Briefing - Tuesday 17 April, 2012
ENERGY & UTILITIES
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).
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Hide AdNorwegian 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).
RETAIL
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).
INDUSTRY
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).
TECHNOLOGY
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).