Scottish Business Briefing - Tuesday April 3, 2013
BANKING
STANDARD Life’s top three directors shared close to £10 million in bonuses in 2012 with the chief executive of the insurance giant, David Nish, nearly doubling his remuneration to £5m. Crawford Gillies, chairman of the remuneration committee, said boardroom pay was influenced by the committee’s view that “this has been a very strong year” for the insurer. (The Scotsman)
ECONOMICS
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Hide AdA RESCUE deal has been clinched over one of Edinburgh’s most notorious gap sites to revive a development hoped to deliver around 3500 jobs for the capital. The £10.5 million bail-out of the project, earmarked for a former goods yard next to Haymarket railway station, is expected to see get underway within the next few months, creating a brand new business district in the west end. (The Scotsman)
ENERGY & UTILITIES
UTILITY giant SSE is to be fined £10.5 million for “prolonged and extensive” mis-selling in what will be the largest ever penalty imposed on an energy provider. Energy watchdog Ofgem said it found “failures at every stage of the sales process” across SSE’s telephone, in-store and doorstep selling activities. (The Scotsman)
FOOD, DRINK & AGRICULTURE
A major new malt whisky distillery is being planned for Easter Ross. Diageo, the biggest distiller of Scotch, has chosen a greenfield site near Alness, next to the existing Teaninich distillery. With 16 copper stills, it would have the capacity to distil enough for 13 million litres of spirit each year, equating to 45 million bottles. (BBC)
INDUSTRY
THE beleaguered architectural practice RMJM, which finally slid into receivership six months ago following years of financial trouble, is to be bought out by an investment firm. Edinburgh-based RMJM Architecture, the registered company that bought three subsidiaries of the original RMJM practice out of receivership last October, has accepted an offer from the new business Duthus Investments for £11 million, according to documents seen by Building Design magazine. (The Scotsman)
MEDIA & LEISURE
SCOTSMAN CONFERENCE
Only a few days left to secure your delegate places! Join delegates from across the marketing, communication and advertising industry at this unmissable event. Top speakers will debate the big issues facing Scotland’s media in the 21st Century.
TECHNOLOGY
SCOTLAND’S £4 billion computing industry faces a “skills crisis” and is being forced to recruit staff from across the Border and overseas to plug holes, according to a new sector-wide survey. Trade body ScotlandIS warned half of firms could not find enough recruits north of the Border, with the sector expecting to create 45,000 jobs over the next five years, on top of the 100,000 workers that it already employs. (The Scotsman)