Scottish Business Briefing - Tuesday 26 July, 2011

BANKING & INSURANCE

Former head of RBS Aviation is banned from sale

THE former head of Royal Bank of Scotland's aircraft leasing arm is understood to have been excluded from buying the business which is expected to fetch more than 4 billion (Scotsman).

AAM new business grows by 700m

Aberdeen Asset Management posted 700 million of net new business in the last quarter as investors defied market uncertainty by piling into high-risk funds (Scotsman).

Read all today's banking news from scotsman.com

ENERGY & UTILITIES

BP reports quarterly profit of $5.3bn

BP made profits of $5.3bn (3.2bn) in the three months to 30 June as higher oil prices offset lower production (BBC).

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

INDUSTRY

Kilgour moves to rescue Scots care homes

A STRING of Scottish care homes run by troubled operator Southern Cross would appear to have a bright future after being acquired by industry veteran Robert Kilgour. The Scot, who founded Four Seasons Health Care in Fife in the late 1980s, has been approached by three landlords to take over the running of 11 homes across the country (Scotsman).

Wallace Whittle sold to German firm TV SD

Wallace Whittle, the Scottish building services consultancy which helped design Buchanan Galleries in Glasgow, has been sold to a German company triggering payouts for its 38 employee owners (Herald).

Read all today's industry news from scotsman.com

TECHNOLOGY

Second profit warning sends shares in chip maker Wolfson into tailspin

AUDIO chip maker Wolfson Microelectronics yesterday issued its second profits warning in a month as it launches a cost-cutting plan (Scotsman).

Read all today's technology news from scotsman.com