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.
BANKING
FSA ‘failed in its duty to public’ over crisis at RBS
The City watchdog was guilty of a “serious misjudgment” by failing to step in to block the takeover deal that sparked the near-collapse of Royal Bank of Scotland, according to the Treasury select committee. (Scotsman)
Read all today’s banking news from scotsman.com
ECONOMICS
Scottish government to launch Dragons Den-style fund
Budding Scots entrepreneurs are getting the chance to pitch their ideas before leading business chiefs to win a share of a new £1m fund. The Dragons Den-style initiative will be outlined by Finance Secretary John Swinney at the SNP conference in Perth. (BBC)
Read all today’s economics news from scotsman.com
FOOD, DRINK & AGRICULTURE
New distillery in Speyside heads up £40m spend by Chivas
Chivas Brothers, the Scotch whisky and gin arm of Pernod Ricard, has announced plans to build a further distillery in Speyside as part of its £40 million investment programme in Scotland to meet demand from emerging markets. (Scotsman)
Britvic sales hit by Fruit Shoot recall as Barr merger talks continue
Soft drinks group Britvic stayed tight-lipped yesterday on its £1.3 billion merger talks with Scots peer AG Barr as it posted lower annual revenues following the costly recall of a product and poor summer weather. (Scotsman)
Read all today’s food, drink and agriculture news from scotsman.com
INDUSTRY
Call for aid to ‘save’ £21bn construction industry in Scotland
Scotland’s £20 billion-plus construction sector requires “urgent action” to stimulate growth and protect thousands of jobs after a collapse in confidence. The demand from industry leaders came yesterday after a major survey highlighted a sharp decline in conditions during the third quarter of 2012. More than a third of businesses reported a downturn, with the outcome for Scotland bleaker than the rest of the UK. (Scotsman)
Strong sales boost profits at Scottish Leather Group
SCOTTISH Leather Group, one of the country’s manufacturing stars, is continuing to accelerate on the back of strong demand for its luxury trim in cars and aircraft. Profits at the group, which spans four west of Scotland leather manufacturers and one technology company, have now risen by more than 50% in two years, enabling the group to open a new plant and increase its headcount from 480 to the current 550. (Herald)
