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
HBOS corporate bankers ‘showed few concerns’ over credit controls
BANK of Scotland’s corporate bankers shrugged off concerns over credit controls on lending as part of the HBOS group because they had weathered the 1990s recession so well, a former director revealed yesterday ({http://www.scotsman.com/business/banking/hbos-corporate-bankers-showed-few-concerns-over-credit-controls-1-2606163|Scotsman|Scotsman}).
Glasgow-based Clydesdale Bank reports losses
Clydesdale Bank has reported a pre-tax loss of £183m for the year to September. The Glasgow-based lender, which includes Yorkshire Bank, says bad debt rose by almost 90% - to reach £631m. The problem with bad debt has been attributed to falling commercial property values ({http://www.bbc.co.uk/news/uk-scotland-scotland-business-20150900|BBC|BBC}).
Barclays bank in quarterly loss
UK bank Barclays has reported a pre-tax statutory loss of £47m for the three months to September, against a £2.4bn profit for the quarter last year. The loss comes after charges to cover the payment protection insurance (PPI) mis-selling scandal. Barclays’ adjusted profits, not including additional charges, were £1.7bn, up from £1.3bn for the quarter last year ({http://www.bbc.co.uk/news/business-20150754|BBC|BBC}).
{http://www.scotsman.com/business/banking|Read all today’s banking news from scotsman.com|Read all today’s banking news from scotsman.com}
FOOD, DRINK & AGRICULTURE
Marston’s plans for five pubs a year in Scotland
PUB operator Marston’s is unveiling plans to build up to ten outlets in Scotland next year as the firm makes its first move north of the Border. The company, which owns more than 2,000 pubs in England and Wales, will spend about £25 million on the expansion and will create about 500 full- and part-time jobs ({http://www.scotsman.com/business/management/marston-s-plans-for-five-pubs-a-year-in-scotland-1-2606098|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}
INDUSTRY
Paper maker seals £7.5m bank deal
EMPLOYEE-OWNED paper maker Tullis Russell Group has received a £7.5 million refinancing package over three years from Lloyds Bank. The Fife-based firm said the funding would be used to “drive its global development agenda”, including potential acquisitions ({http://www.scotsman.com/business/industry/paper-maker-seals-7-5m-bank-deal-1-2606015|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
Christmas hi-tech sales should boost Wolfson
WOLFSON chief executive Mike Hickey believes the Edinburgh-based chip maker is “in with a shout” of making an underlying profit this year thanks to high demand for smartphones and tablet computers in the run-up to Christmas ({http://www.scotsman.com/business/management/christmas-hi-tech-sales-should-boost-wolfson-1-2606026|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}