Scottish Business Briefing - Tuesday 29 May, 2012

WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.

ENERGY & UTILITIES

Deo shares surge after it backs £12.7m Parkmead takeover plan

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SHARES in oil and gas group Deo Petroleum surged by more than a quarter yesterday after it announced a recommended £12.7 million takeover deal with fellow Aberdeen-based explorer Parkmead (Scotsman).

Salmond unveils oil and gas strategy

An oil and gas strategy for Scotland is due to be unveiled by the first minister in Aberdeen (BBC).

Hydrogen power firm ITM Power in Aberdeen move

THE FIRM that makes hydrogen fuel cells is opening a base in Aberdeen in a bid to tap “a critical mass of opportunities” arising from the growing Scottish renewables industry (Scotsman).

FOOD, DRINK & AGRICULTURE

Mathiesons rescue plan for 240 jobs but 84 axed

More than 240 jobs have been saved after a Scots bakery firm that went into administration was restructured, though scores of other posts have been axed (Scotsman).

TRANSPORT

Key investors question Gilbert’s role as chairman of FirstGroup

FIRSTGROUP chairman Martin Gilbert was yesterday urged to “hit the phones” and talk to shareholders as some key investors raised concerns about his position at the helm of the transport giant (Scotsman).

Maxi picks up work from failed rivals to fight off recession

SCOTTISH haulage and construction firm Maxi Group managed to raise turnover by 15 per cent last year despite strong economic headwinds as it picked up business from competitors that went bust in the recession (Scotsman).