ECONOMY
Expansion in private-sector workforce is hopeful signHOPES are high that Scotland is now past the worst of private-sector job losses as an influential survey today reveals that Scots firms last month expanded their workfor
ces for the first time since March 2008 (
Scotsman). Scotland was the only part of the UK to see employment levels rise in October, according to the latest Scottish Purchasing Managers Index (PMI). Improving workloads were behind the drive to take on new staff, the research from respected forecasting group Markit reveals.
Read all today's economics news from scotsman.comFOOD, DRINK & AGRICULTURECadbury waits for US food giant Kraft to make a sweeter offerUS FOOD giant Kraft is expected go hostile with a near £10 billion bid for British confectionery group Cadbury today but the renewed approach is expected to fall well short of shareholders' expectations (
Scotsman). One institutional shareholder in Cadbury, which rejected Kraft's initial offer of 745p in cash and shares, said last night that it was very likely the suitor will tweak its offer upwards before the City Takeover Panel's deadline of 5pm today. But the investor said: "I think Kraft will go hostile at a very small premium to the original offer.
Read all today's food, drink and agriculture news from scotsman.comINDUSTRY
Ex-directors save 100 jobs as they buy parts firmMORE than 100 jobs have been saved at Glasgow car parts manufacturer John McGavigan after two former directors bought it out of administration (
Scotsman). David Taylor and Steve Mathers, both members of the previous management team, have acquired the Bishopbriggs-based firm for an undisclosed sum, administrators KPMG revealed today. The deal saves 109 jobs in Scotland after the 87-year-old firm was forced into administration in September.
BAE ship arm adds £600m to UK's financesA report from Strathclyde University's Fraser of Allander Institute published today shows that BAE's warship division added almost £600m to the UK economy, including £324m generated from its yards at Govan on the Clyde (
Herald). The study highlights both the economic and social benefits of BAE Systems Surface Ships, formerly BVT Surface Fleet. It shows that the company's Scottish operations supported more than 8000 jobs in total, with 3400 people employed directly in the Clyde yards – almost 7% up on last year.
Read all today's industry news from scotsman.comMEDIA & LEISUREConcern over online advertising The UK government has urged Scottish public bodies to continue using newspapers to publish their notices (
BBC). Ministers expressed concern at suggestions of a move towards only publishing information such as job adverts on public sector websites. The comments came in the wake of a probe into the future of the Scottish newspaper industry by the Commons' Scottish affairs committee.
Read all today's media and leisure news from scotsman.comPERSONAL FINANCEBad credit card debts 'will soar' Bad credit card debts may reach as much as 9% of all outstanding balances by the end of next year, an accountancy firm has said (
BBC). "Bad debts in the sector have reached historic highs," according to PricewaterhouseCoopers. The figure stands at about 6% now. This is despite the fact that there has been a "cooling passion" for credit cards, with borrowing down 3% to £64bn. The number of credit cards in circulation has fallen by 8%, it said.
Read all today's personal finance news from scotsman.comScotsman Business ClubGet to the heart of the issues affecting Scottish business at
www.scotsman.com/businessclub. Features include blogs from The Scotsman's formidable team of business writers - including Bill Jamieson, Martin Flanagan, Peter MacMahon and Scott Reid, a diary of forthcoming company announcements and networking events and video interviews with leading business experts covering a wide range of useful topics."
