Scotsman.com - Management Feed

Royal Mail tests market for £1.5bn loan ahead of IPO

Fri, 24 May 2013 18:25:26 GMT

BANKS have been asked to gauge market appetite for a £1.5 billion syndicated loan to back the planned privatisation of Royal Mail, according to banking industry sources.

Omega in placing to fund HIV technology production

Fri, 24 May 2013 07:07:13 GMT

SHARES in medical testing kit maker Omega Diagnostics jumped 5 per cent after the Alva-based firm unveiled an over-subscribed share placing to fund the production of its HIV-Aids technology.

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.

Bowl maker secures backing for exports

Wed, 22 May 2013 18:03:18 GMT

LAWN bowls maker Thomas Taylor, which was founded in Glasgow in 1796, has secured a £450,000 funding deal from Bank of Scotland to help it expand in Australia.

Scotland’s flagging hotel industr’s Easter boost

Wed, 22 May 2013 18:02:31 GMT

SCOTTISH mid-market hotels received a substantial revenue boost in March, with Edinburgh and Aberdeen reporting the best performances.

Colliers taken to court over value

Wed, 22 May 2013 18:01:37 GMT

COLLIERS International is facing legal action over its valuation of a German property whose owners and occupants went bust.

Next Chancellor must cut deeply, economists warn

Wed, 22 May 2013 17:46:34 GMT

WHOEVER wins the next general election will have to make deeper public sector cuts in order to avoid a “financial crisis” in which international money markets lose confidence in Britain, economists will warn today.

Business briefs: Shell | Johnston Press | Wood Group

Wed, 22 May 2013 17:30:26 GMT

Plans to redevelop the Shell Centre on London’s South Bank have been approved, developers have said.

Comment: Need to do more than beat drum for exports

Wed, 22 May 2013 17:26:37 GMT

EVER since the onset of recession, we’ve heard near constant clamour for the need to “rebalance” the economy towards trade rather than consumption.

Markets: FTSE edges towards its all-time high

Tue, 21 May 2013 21:31:11 GMT

THE Footsie pushed through the 6,800 barrier yesterday to close above its 2000 and 2007 peaks and within 130 points of its all-time high set in December 1999.

Marine Harvest close the net on Cermaq acquisition

Tue, 21 May 2013 18:24:46 GMT

Norwegian fish producer Cermaq has failed to win enough shareholder support to buy Peruvian fish feed maker Copeinca, opening the door to a $1.7 billion (£1.1bn) takeover of Cermaq by rival Marine Harvest, the world’s largest fish farmer.

Mark Carney may benefit from easing of inflation

Tue, 21 May 2013 18:15:42 GMT

ECONOMISTS believe incoming Bank of England governor Mark Carney will have room to print further money or copy Japan’s more radical “Abenomics” after inflation fell to a seven-month low last month.

Jamie Dimon survives JP Morgan vote

Tue, 21 May 2013 18:11:18 GMT

JP MORGAN chairman and chief executive Jamie Dimon yesterday survived a vote by shareholders to split his role in two.

Global forced to sell Capital FM or Real Radio

Tue, 21 May 2013 18:08:00 GMT

THE Competition Commission (CC)has ordered Global Radio Group to sell either Capital FM or Real Radio in Scotland following last year’s takeover of Guardian Media Group’s radio operations.

Business briefs: AGR Aberdeen | Clintec | John Menzies | IoD

Tue, 21 May 2013 18:02:52 GMT

AGR Petroleum Services, the Aberdeen-based operations of Norwegian well management firm AGR, has won an £18 million contract from Genel Energy covering ten wells in north and west Africa.

Olympics debacle sees G4S’ Nick Buckles make exit

Tue, 21 May 2013 17:50:17 GMT

Nick Buckles, the embattled chief executive of security services group G4S who was hauled before MPs last year over his firm’s handling of its London Olympics contract, is to leave at the end of the month, writes Gareth Mackie.

Royal Mail profits rise as privatisation beckons

Tue, 21 May 2013 09:27:39 GMT

THE proposed £3 billion sale of the world’s oldest postal service drew nearer today as operating profits at Royal Mail more than doubled last year.

Buckles to leave security group G4S next week

Tue, 21 May 2013 06:54:03 GMT

G4S today said that Nick Buckles, who faced tough questioning from MPs last year after the security services firm failed to provide enough staff for the London Olympics, is to stand down at the end of this month.

Jobs go as electricals unit closure costs Mitie £22m

Mon, 20 May 2013 18:36:15 GMT

OUTSOURCING specialist Mitie yesterday revealed that closing down its mechanical and electrical (M&E) engineering contracts arm will cost it £22.1 million.