Scottish Business Briefing - Tuesday 6 March, 2012
BANKING
Greek debt deal set to cost RBS £825 million
ROYAL BANK of Scotland is set to lose £825 million of taxpayers’ money in Greek debts, after major financial institutions holding the stricken eurozone country’s bonds agreed to take part in a debt relief programme (Scotsman).
ECONOMICS
Service sector expands less than expected but ‘signs are hopeful’
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Hide AdBritain’s dominant service sector expanded by less than expected in February, but the economy still looks set to rebound into modest growth in the first three months of this year (Scotsman).
ENERGY & UTILITIES
Profits up more than 60% for Wood Group
Energy services firm Wood Group has announced a 60% rise in profits last year to $254.1m (£160m) (BBC).
INDUSTRY
Glencore boss to pick up £69m dividend
THE chief executive of commodities giant Glencore, Ivan Glasenberg, will pocket a dividend of £69 million following the group’s maiden pay-out to shareholders, it was revealed yesterday (Scotsman).
MEDIA & LEISURE
Paddy Power proves a safe bet as online gambling drives profits up
IRISH bookmaker Paddy Power yesterday posted a forecast-beating rise in profits in 2011 thanks to its fast-growing online business, which it plans to expand into Italy later this year (Scotsman).
Breakthrough in STV’s long-running ITV row
STV will only pay ITV for programmes when it screens them and will control online access north of the Border in a deal that seeks to end a long-running dispute between the two broadcasters (Herald).