Scottish Business Briefing – Tuesday 2 July, 2013
ENERGY & UTILITIES
ScottishPower unveils £5.2bn investment
UTILITY firm ScottishPower yesterday unveiled the largest-ever investment plan for its distribution network, spending £5.2 billion to reduce the risk of power cuts in rural areas.If the company is given the green light to invest the cash by energy regulator Ofgem then it has confirmed that it will create about 2,500 jobs in its supply chain, as revealed in April Scotsman.
Positive outlook as energy service firm targets growth
International energy services group Hunting said yesterday the outlook for the rest of the year remained positive. Chief executive Dennis Proctor said in a trading update: “Trading in the first six months of the year has been supported by increasing activity in the Gulf of Mexico and continued investment in the oil-focused shale basins P&J.
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Famous Grouse helps record Edrington results
FAMOUS Grouse overtook Bell’s to become the best-selling blended whisky in the UK in the past year, helping parent group Edrington to grow its sales by 6 per cent to a record £591.3 million. Promotions for the Queen’s diamond jubilee helped boost sales at home, while overseas it became the world’s fourth-largest “standard” Scotch, overtaking Grant’s and Dewar’s Scotsman
INDUSTRY
Cala sales growth latest sign of housing recovery
Cala, the Scottish housebuilder, unveiled expansion plans yesterday that are expected to give a pointer to an upturn in the housing market. A rise in completions and record profits from the Edinburgh-based builder will offer encouragement that other housebuilders reporting this week will reveal a similarly positive trend Scotsman.
SCOTSMAN CONFERENCE
The Future of the UK Aerospace Industry – 5 September 2013, Prestwick
20% Early bird discount until 12 July
The UK Government signed up to a £2 billion partnership to keep the UK aerospace industry at the forefront of world aerospace manufacturing. Join us and hear the government explain its strategy to secure large numbers of high value jobs. Book your place today.
TECHNOLOGY
Twin boosts for life sciences in Lords report
SCOTLAND’S life sciences sector was given a double boost yesterday with the House of Lords calling for the streamlining of “regenerative medicine” rules, while medical testing kit maker Omega Diagnostics eyed a $160 million (£105m) market Scotsman.
Cupid makes changes despite being cleared over fake profiles
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Hide AdONLINE dating group Cupid said yesterday an independent review had cleared it of creating fake profiles to entice customers to take out subscriptions. But the review, which was carried out by the Edinburgh firm’s financial auditor KPMG following media allegations, made a number of recommendations for improvements that are now being implemented Scotsmn.