Scotsman.com - Business Feed

Co-op halts loans to small firms

Fri, 24 May 2013 13:17:32 GMT

The Co-operative Bank has admitted that it is no longer lending to new business customers in the latest move to shore up its capital position.

Petroceltic abandons Black Sea well after ‘disappointing’ results

Fri, 24 May 2013 08:04:40 GMT

Oil and gas explorer Petroceltic International, which bought Edinburgh-based Melrose Resources last year, has abandoned an exploration well off the Bulgarian coast after it failed to find enough gas to justify commercial production.

3i offers to buy Barclays’ infrastructure fund management business

Fri, 24 May 2013 07:43:56 GMT

Private equity firm 3i has made an irrevocable offer to buy the European infrastructure fund management business run by Barclays Bank as it seeks to boost its fee income.

Scottish Business Briefing – Friday 24 May, 2013

Fri, 24 May 2013 07:41:52 GMT

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.

Glasgow store in ‘fine form’ as John Lewis sales rise 8.8%

Fri, 24 May 2013 07:28:00 GMT

Department store group John Lewis has reported an 8.8 per cent increase in sales last week, with its Glasgow store among its best performers.

Omega Diagnostics launches £4m fundraising drive

Fri, 24 May 2013 07:07:13 GMT

Medical testing-kit maker Omega Diagnostics has launched a £4 million fundraising to develop its suite of products.

Farm wage plans welcomed

Thu, 23 May 2013 21:37:41 GMT

NFU Scotland yesterday described the proposed increases in minimum agricultural wages as “proportionate and reflective of the hugely challenging year faced by the sector”.

For dairy producers, size does matter

Thu, 23 May 2013 21:37:25 GMT

With a public sympathy for small family dairy farms, a suggestion was made yesterday that some method of keeping them in business – possibly with financial inducements – should be considered.

Markets: Tate & Lyle sweetens blow to market

Thu, 23 May 2013 21:14:11 GMT

Tate & Lyle was one of the few risers among yesterday’s market rout as a note previewing interim results next week caught the eye of traders with talk of mergers and acquisitions.

New bank Aldermore offers mortgages in Scotland

Thu, 23 May 2013 18:29:21 GMT

CHALLENGER bank Aldermore is to offer mortgages to Scottish customers next month as the housing market shows signs of “renewed confidence”.

JP Morgan Chase receives £3m fine for poor records

Thu, 23 May 2013 18:26:18 GMT

BRITAIN’S new financial regulator has slapped a £3.08 million fine on a wealth management unit of American banking giant JP Morgan Chase for not having records to show it was giving clients good advice.

Tesco sets out bonus challenge

Thu, 23 May 2013 18:12:09 GMT

Bosses at Tesco will not receive a bonus this year unless they can reverse a decline in profits, the UK’s largest supermarket said in its annual report.

Second Cygnus order secures 320 Bifab jobs

Thu, 23 May 2013 18:12:01 GMT

Burntisland Fabrication (BiFab) has won a second big contract from French utility GDF Suez to help build its Cygnus gas field in the North Sea.

£80m to spend on that ‘special occasion’ meal

Thu, 23 May 2013 18:09:10 GMT

PUBS group Mitchells & Butlers yesterday unveiled an £80 million investment cocktail targeting special occasion eating, family dining and “upmarket” metropolitan socialising.

Wood Group clinches five-year Gulf of Mexico deal

Thu, 23 May 2013 18:05:08 GMT

WOOD Group has won a five-year contract to support deepwater oil and gas platforms in the Gulf of Mexico.

Business briefing: SABMiller | DMTG | Asda

Thu, 23 May 2013 18:03:10 GMT

SABMiller, the world’s second-biggest brewer, said margins would improve in the year ahead after strong growth in Africa and Latin America kept profits on track.

Ford closes Australian vehicle factories

Thu, 23 May 2013 17:51:28 GMT

CAR maker Ford yesterday unveiled plans to close its two factories in Australia with the loss of 1,200 jobs.

Tata Steel posts £840m loss

Thu, 23 May 2013 17:48:06 GMT

INDIA’S Tata Steel plunged into the red last year with losses of £840 million after writing £1 billion off the value of its European arm, which employs 18,500 people in the UK.

Comment: Flybe blame-game goes beyond Gatwick

Thu, 23 May 2013 17:44:14 GMT

THERE have been many disputes between airlines and airports over fees, but rarely have they hit the sort of heights that led Flybe to pull out of Gatwick.

Shares lose £40bn US money printing end threat

Thu, 23 May 2013 08:40:45 GMT

THE FTSE 100 saw more than £40 billion or 2.1 per cent wiped off its value today as fears that the US may ease back on money printing, along with weak Chinese data, were compounded by doubts over the UK’s recovery.