BANKING & INSURANCE
EU set to force sale of Lloyds' Scottish branchesCONSUMERS could soon have the choice of a major new bank on Scotland's high streets after it emerged that European regulators are close to agreeing a deal that w
ould force Lloyds to sell 185 branches north of the Border (
The Scotsman). The EU competition watchdog has been scrutinising Lloyds' business to ensure the bank, which was bailed out by the UK government last year, has not gained an unfair advantage over its competitors.
Standard Life's Nish sees hope in rising marketsDAVID Nish, the incoming chief executive of Standard Life, said yesterday that he was "encouraged but cautious" about market conditions, after the life and pensions group unveiled a 15 per cent slump in worldwide sales in the first nine months of the year (
The Scotsman). The Edinburgh-based insurer, which sold its banking subsidiary to Barclays this week for £226 million, admitted it had been affected by falling equity values and by employers not buying more group pension products.
Read all today's banking news from scotsman.comECONOMY
Funding pleas to beat recessionSCOTTISH Labour has echoed the Holyrood government's call for the Treasury to speed up capital spending to help economic recovery (
BBC). But party leader Iain Gray warned the SNP must promise to use any accelerated cash to create jobs.
Read all today's economics news from scotsman.comENERGY & UTILITIES
Royal Dutch Shell to axe 250 jobs in Aberdeen amid worldwide cullROYAL Dutch Shell is set to shed up to 250 jobs in Aberdeen as part of a global cull of 5000 posts which it unveiled after announcing a big drop in third quarter profits on the back of falling oil prices (
The Herald). Warning that global demand for oil would not recover quickly, the oil and gas giant said it would make the job cuts as the next stage of a drive initiated by new chief executive Peter Voser to boost profitability by simplifying the giant business.
Read all today's energy and utilities news from scotsman.comFOOD, DRINK & AGRICULTURE
Diageo strike ballot to go aheadWORKERS at closure-threatened Diageo plants in the west of Scotland have voted to hold a full strike ballot (
BBC). A consultative ballot, involving workers at the Kilmarnock, Shieldhall and Port Dundas plants, was held by the Unite union.
Read all today's food, drink and agriculture news from scotsman.comTRANSPORT
Stagecoach still keen on National tie-upSTAGECOACH and the City both reacted with disappointment yesterday after National Express snubbed its transport rivals' all-share bid approach (
The Scotsman). However, Perth-based Stagecoach reserved the right for another takeover tilt at National, which has nearly £1 billion of debt, if a third party made an offer or it could secure the recommendation of the target's board.
Read all today's transport 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."
