Scottish Business Briefing - Wednesday 28 March, 2012
BANKING
Profits at ‘for sale’ Scottish bank fall
LLOYDS TSB Scotland, the 185-branch banking operation which The Co-operative Group is in talks to buy, suffered a near-17% tumble in profits in 2011 and blamed this fall on higher funding costs and “subdued demand” for credit (Herald).
ENERGY & UTILITIES
Enquest plans £1bn North Sea spend as profits more than double
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Hide AdOIL firm Enquest is to invest $1 billion (£630 million) in the North Sea this year after higher prices meant full-year profit more than doubled (Scotsman)
FOOD, DRINK & AGRICULTURE
Export strength is food and drink to Scotland’s producers
Scotland has surpassed a target to grow its food and drink exports by a third, six years before schedule, thanks to a booming whisky industry (Scotsman).
North-east considered for vodka distillery site
A Scottish drink company said yesterday it was considering opening a distillery in the north-east to produce vodka (P&J).
Scotch giant Grant to spend £29m on ‘rebirth’ of Tullamore Dew
WILLIAM Grant & Sons, the spirits company, is to invest €35 million (£29m) building a distillery in Ireland which will bring whiskey production back to Tullamore for the first time since the original plant closed in 1954 (Scotsman)
TRANSPORT
Jobs boost announced by Jet2
HOLIDAY airline Jet2 yesterday announced 60 new jobs as part of a doubling of routes from Glasgow airport to 16 this summer (Scotsman).