Scottish Business Briefing - Wednesday 7 March, 2012
BANKING
Nationalised RBS is best for Britain, suggests Cable
BUSINESS Secretary Vince Cable has proposed keeping Royal Bank of Scotland mostly nationalised “as a ward of state”, acting as a domestic business bank (Scotsman).
ECONOMICS
More captains of industry and finance join clamour for clarity
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Hide AdMORE of Scotland’s most influential business leaders have called on Alex Salmond to “clarify” his plans for independence (Scotsman).
ENERGY & UTILITIES
Wood calls for clarity on North Sea tax rules to unlock investment
SIR Ian Wood, chairman of energy services giant Wood Group, is looking for clarity from the Chancellor over decommissioning costs in this month’s Budget, which could trigger further investment in the North Sea (Scotsman).
INDUSTRY
Ferguson Marine hit by £1.58m yearly loss
FERGUSON Marine, the last independent shipbuilder on the Clyde, plunged to a £1.58 million annual loss as the collapse of key renewable energy sector customer Subocean left a hole in the order book (Herald).
HIE invests £1m in Arnish yard on Lewis
Steel rolling equipment has been imported from Italy to a manufacturing yard on Lewis in the Western Isles. The machinery forms part of £2.9m-worth of investment Highlands and Islands Enterprise (HIE) plans to put into the site at Arnish, near Stornoway (BBC).
TRANSPORT
Menzies buoyed by aviation growth
John Menzies said aviation services overtook newspaper distribution as its biggest profits driver last year after the 179-year-old company benefited from a flurry of contracts for ground handling and cargo work (Scotsman).