Scottish Business Briefing - Wednesday 18 September, 2013

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.
Property sales in Scotland are starting to move once more. Picture: Ian RutherfordProperty sales in Scotland are starting to move once more. Picture: Ian Rutherford
Property sales in Scotland are starting to move once more. Picture: Ian Rutherford

FINANCE

RBS may face further action over £12bn cash call

FOUR major institutions, including Standard Life, are considering suing Royal Bank of Scotland over its £12 billion cash call in 2008, it was confirmed at a court hearing yesterday. The Scotsman revealed earlier this month that international corporate litigation firm Quinn Emanuel had been privately hired by Standard Life Investments and Legal & General Investments Management as they weigh up whether to launch legal action against RBS for allegedly misleading investors in the bumper rights issue (Scotsman).

ECONOMY

Scottish house sales ‘shows confidence returning

House sales in Scotland are at their highest level for five years, according to a survey. First-time buyers account for the majority of the 21 per cent increase recorded in July from a year ago, according to LSL Property Services/Acadametrics. Registers of Scotland recorded 8,833 property transactions during the month, an increase of 1,873 or 27 per cent on June, the LSL report said (Scotsman).

ENERGY

Firms worry as North Sea wages surge past £73,000

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Wages in the UK oil and gas industry are set to hit an average of £73,600 by the end of the year as companies desperate to expand run into staff shortages. A survey of hundreds of firms operating in the sector, published today, reveals the average wage is expected to rise 15 per cent over the course of this year (Scotsman).

FOOD, DRINK & AGRICULTURE

Princess Royal gives bottling plant her seal of approval

CHIVAS Brothers, the Paisley-based whisky business, has officially unveiled a new bottling hall where some of its most prestigious spirits are being packaged. The whisky and gin division of Pernod Ricard has developed the operation to meet the increasingly complex demands on bottle designs and product presentations from spirits drinkers around the world (Scotsman).

(http://www.scotsman.com/business/food-drink-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Click here}

TRANSPORT & INDUSTRY

Morrison Construction owner hails Holyrood projects

GALLIFORD Try, the FTSE 250 builder that owns Edinburgh-based Morrison Construction, yesterday praised the Scottish Government’s infrastructure spending for stimulating the market north of the Border. Ken Gillespie, chief executive of the group’s construction division, hailed the success of the “hub” projects run by the Scottish Futures Trust, under which public sector bodies bundle contracts together to save money (Scotsman).

Airline forges new Oslo link

Aberdeen-based airline bmi regional will launch new flights into Oslo next month. The company said soaring demand from the oil and gas industry was behind its decision to directly link the north-east with the Norwegian capital. The announcement comes just weeks after the firm launched scheduled flights between Aberdeen and Kristiansund in Norway (P&J).

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