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
UKFI adds to pressure on Royal Bank to sell US operation Citizens
ROYAL Bank of Scotland has come under further pressure to sell its Citizens division in the US and make more cuts to its investment banking business. The future of Citizens was re-ignited yesterday after it emerged there had been talks between RBS and the agency in charge of the taxpayers’ stake ({http://www.scotsman.com/business/management/ukfi-adds-to-pressure-on-royal-bank-to-sell-us-operation-citizens-1-2594410|Scotsman|Scotsman}).
{http://www.scotsman.com/business/banking|Read all today’s banking news from scotsman.com|Read all today’s banking news from scotsman.com}
ECONOMICS
Grants top £10m as SE invests to promote job growth in Scotland
Some 1,100 jobs are expected to be created or safeguarded in the wake of more than £10 million of grant funding, it emerged yesterday. Scottish Enterprise said regional selective assistance (RSA) grants had been accepted by 32 companies during the last quarter. The funding is expected to generate a further £65m through additional investment by the firms themselves ({http://www.scotsman.com/business/grants-top-10m-as-se-invests-to-promote-job-growth-in-scotland-1-2594429|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
BP boost for Hydrasun jobs
Aberdeen company Hydrasun is to increase its workforce after landing multi-million-pound international deals with oil giant BP. Hydrasun expects the work to lead to 20 jobs; half of them in the Granite City. The firm has nearly 600 employees, the majority based in the UK ({http://www.pressandjournal.co.uk/Article.aspx/2982840P&J|P&J}).
{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}
FOOD, DRINK & AGRICULTURE
Tennent’s owner C&C in £190m swoop for No1 US cider maker
IRISH drinks company C&C Group have snapped up the biggest cider brand in the United States in a deal that will transform its international business and open the door to the growing Chinese market. Dublin-listed C&C will pay $305 million (£190m) for the Vermont Hard Cider Company (VHCC), which makes the Woodchuck label ({http://www.scotsman.com/business/management/tennent-s-owner-c-c-in-190m-swoop-for-no1-us-cider-maker-1-2593473|Scotsman|Scotsman}).
{http://www.scotsman.com/business/food-drink-and-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Read all today’s food, drink and agriculture news from scotsman.com}
MEDIA & LEISURE
Ten jobs lost as Highlands mountain bike attraction goes out of business
A MOUNTAIN biking business which attracted 20,000 visitors a year in the Highlands has closed, with the loss of ten jobs. The owners of Wolftrax, based in Strathmashie Forest, near Laggan, have said the uncertainty of a proposed new forestry centre made the business untenable ({http://www.scotsman.com/news/scottish-news/top-stories/ten-jobs-lost-as-highlands-mountain-bike-attraction-goes-out-of-business-1-2595017|Scotsman|Scotsman}).
{http://www.scotsman.com/business/media-and-leisure|Read all today’s media and leisure news from scotsman.com|Read all today’s media and leisure news from scotsman.com}
RETAIL
Argos to shut or relocate 75 stores, Home Retail Group says
Home Retail Group, which owns Argos, is planning to close or relocate at least 75 of the catalogue retailer’s stores over the next five years. It is part of the company’s plans to change Argos into a digitally-led retailer instead of being predominantly catalogue-led ({http://www.bbc.co.uk/news/business-20054168|BBC|BBC}).
{http://www.scotsman.com/business/retail|Read all today’s retail news from scotsman.com|Read all today’s retail news from scotsman.com}