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Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
ECONOMY
Business chiefs go on warpath against SNPTHE SNP government has been warned it is losing the trust and support of Scottish businesses because of an "accumulation of policies and sentiments" that are anti-private sector. Se
veral leading business figures have told
The Scotsman there is a growing disquiet about the stance taken by the Scottish Government in areas as diverse as education, health and transport. Despite attempts by the SNP to woo the business community, senior figures from the CBI, Institute of Directors and Scottish Chambers of Commerce have talked of a change in the relationship with Holyrood since the Nationalists won power in 2007. Significantly, they have warned certain policies are endangering investment in Scotland.
Read all today's economics news from scotsman.comBANKING & INSURANCEEU 'to back Northern Rock split' The European Union (EU) is set to approve plans for nationalised Northern Rock bank to be split in two - paving the way for a partial sale (
BBC). One business, to be known as the "good bank" would hold savers' money, carry out new lending, and hold some existing mortgages. A second "bad" bank would be set up to hold the rest of the mortgages and repay outstanding government loans. Meanwhile, a report says Royal Bank of Scotland and Lloyds will also be split. The Independent newspaper reported that the government backed the division and part-sale of the two banking giants.
Read all today's banking news from scotsman.comENERGY & UTILITIESWindfarm deal to aid SeaEnergy expansionSeaEnergy, the renewable power specialist that has been developed out of the former Ramco oil and gas business, has hit the international expansion trail by forming a joint venture to develop windfarms off Taiwan (
Herald). The AIM-listed company said it had concluded the terms of an agreement with Taiwan Generations Corporation (TGC) under which the firms will undertake development of a pipeline of offshore windfarm projects the Taiwanese firm has lined up.
Read all today's energy and utilities news from scotsman.comINDUSTRYSlump rocks the foundations but Mactaggart & Mickel stands firmFAMILY-owned builder Mactaggart & Mickel has revealed the extent of the strain caused by the housing slump in its latest figures and refused to call an end to the market woes (
Scotsman). In the year to 20 April, turnover fell 47 per cent to £42 million and write-downs on the value of the firm's land holdings drove it £3.9m into the red. The Glasgow-based company was forced to slash its workforce by more than a third, shedding 97 jobs. Three-quarters of its remaining staff are working a four-day week, to cut costs, until further notice.
Read all today's industry news from scotsman.comMEDIA & LEISURETowering ambition crashes to earth as hotel plan rejectedAN AMBITIOUS plan to build a 17-storey hotel in Edinburgh city centre has been thrown out by the Scottish Government, after a public inquiry found it would ruin classic views of the city and dominate the Haymarket area (
Scotsman). Campaigners were celebrating last night after ministers ruled that the benefits of the £250 million scheme were not enough to justify the impact on the city's skyline and potential damage to its tourism industry. Edinburgh city council, which approved plans for the project after just one hearing, was condemned for flouting several of its own policies in backing the scheme by Tiger Developments.
Read all today's media and leisure news from scotsman.comRETAILConfidence boost as sales growth hits two-year highRETAILERS are gearing up for a promising Christmas, after the CBI yesterday revealed that sales have grown at their fastest pace for two years (
Scotsman). Confidence among retailers is at its highest level since July 2007, the CBI's latest distributive trades survey showed, with sales volumes expected to climb even higher next month. The business group suggested that optimism has returned to such an extent that retailers are preparing to place their highest volume of orders with suppliers since November 2007.
Read all today's retail 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."
