Tuesday business round-up: Six key stories of the day

Shoppers at the Asda store in Wembley, north-west London, taking advantage of its Black Friday offers last year. Picture: David Parry/PA Wire

Asda said it would not be taking part in Black Friday this year, citing “shopper fatigue” around the one-day sales event. The supermarket said customer feedback was behind its decision to invest in £26 million of savings for shoppers across the season rather than a one-off day of sales.

Chemicals giant Ineos signed a major deal with Exxon Mobil and Shell to supply ethane from US shale gas production, in a move it said would boost Scottish manufacturing. Under the agreement, Ineos will supply the ethane to the Fife Ethylene Plant from 2017 via its new £450 million import terminal at Grangemouth.

Inverness digital and social media agency Tuminds unveiled plans for its first overseas foray with an office in the Netherlands. The firm, which advises the likes of Diageo, Highlands & Island Enterprise and Royal Bank of Scotland, said the move into Utrecht marks part of a longer-term strategy to broaden its international reach.

Residential factoring and lettings agency Newton Property continued its expansion with the purchase of a Glasgow rival. The firm, founded in 2001 by managing director Stephen O’Neill, has acquired Greenhome Property Management in a £650,000 deal.

Energy Assets, the Livingston-based gas meter supplier, posted a surge in half-year profits. The company, which focuses on industrial and commercial power users, said pre-tax profits for the six months to the end of September jumped 26 per cent to £4.8m.

Banks Property said it was aiming to submit plans to build about 100 homes in Midlothian next year. The Hamilton-based developer said the proposed development in Rosewell would bring “much-needed” family homes to the area, where there is a “significant” housing shortfall.