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.
ECONOMICS
Osborne’s pledge to balance books by 2015 ‘in tatters’
PRESSURE is mounting on George Osborne to rethink his economic strategy after official figures revealed an unexpected rise in government borrowing. The Chancellor’s debt-reduction plans were dealt a severe blow after public-sector borrowing to bridge the gap between spending and revenue reached £600 million last month ({http://www.scotsman.com/news/uk-economy-george-osborne-s-pledge-to-balance-books-by-2015-in-tatters-1-2479382|Scotsman|Scotsman})
{http://www.scotsman.com/business/economics|Read all today’s economics news from scotsman.com|Read all today’s economics news from scotsman.com}
ENERGY & UTILITIES
Bright future for North Sea, says Wood Group
WOOD Group, the Scottish oil services giant, has expressed confidence in the outlook for the North Sea after increasing interim profits by 56%, helped by strong activity levels off the UK. The Aberdeen-based firm said uncertainty about the global economic outlook or matters closer to home have had no apparent impact on oil and gas markets ({http://www.heraldscotland.com/business/company-news/bright-future-for-north-sea-says-wood-group.18648010|Herald|Herald}).
Ferguson Group’s pre-tax profit at £15.6m
Ferguson Group, which rents equipment to the global energy industry, has grown its pre-tax profit by more than £1 million to £15.6m on a record £50m turnover. In 2011, the group expanded its rental fleet to over 16,000 units with 75% operating overseas ({http://www.heraldscotland.com/business/company-news/ferguson-groups-pre-tax-profit-at-156m.18649276|Herald|Herald}).
{http://www.scotsman.com/business/energy-and-utilities|Read all today’s energy and utilities news from scotsman.com|Read all today’s energy and utilities news from scotsman.com}
INDUSTRY
Persimmon profits soar but shares dip on slowdown in sales growth
THE biggest housebuilder in Scotland posted a two-thirds leap in halftime profits on Tuesday, but its shares fell due to faltering sales growth since the period-end and profit-taking after the stock’s good run ({http://www.scotsman.com/business/management/persimmon-profits-soar-but-shares-dip-on-slowdown-in-sales-growth-1-2479314|Scotsman|Scotsman}).
{http://www.scotsman.com/business/industry|Read all today’s industry news from scotsman.com|Read all today’s industry news from scotsman.com}
TECHNOLOGY
University pulls in £250m in outside funding
EDINBURGH University has broken the Scottish record for attracting the most funding in a single year after bringing in £250 million from charities, government and industry. The figure was up 37 per cent on the previous year and toppled the old record of £249m, which the university set in 2008-9 ({http://www.scotsman.com/business/management/university-pulls-in-250m-in-outside-funding-1-2480468|Scotsman|Scotsman}).
{http://www.scotsman.com/business/technology|Read all today’s technology news from scotsman.com|Read all today’s technology news from scotsman.com}
TRANSPORT
Virgin Atlantic targets Scottish flights in long-haul battle with BA
VIRGIN Atlantic is bidding to launch flights between Edinburgh, Aberdeen and Heathrow in an attempt to boost long-haul passenger traffic against bitter rival British Airways ({http://www.scotsman.com/news/transport/virgin-atlantic-targets-scottish-flights-in-long-haul-battle-with-ba-1-2479268|Scotsman|Scotsman}).
{http://www.scotsman.com/business/transport|Read all today’s transport news from scotsman.com|Read all today’s transport news from scotsman.com}