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
‘Smug’ Standard Chartered given hammering after Iran allegations
SOME £8 billion has been wiped from the value of Standard Chartered since it was accused of being a “rogue institution” by US regulators in the latest debacle to hit Britain’s banking sector ({http://www.scotsman.com/business/management/smug-standard-chartered-given-hammering-after-iran-allegations-1-2453849|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}
FOOD, DRINK & AGRICULTURE
Second-half sales down, but Greggs bites back with innovative formats
BAKERY chain Greggs will accelerate its expansion programme in the second half of the year after new initiatives proved successful even as sales slowed due to bad weather ({http://www.scotsman.com/business/management/second-half-sales-down-but-greggs-bites-back-with-innovative-formats-1-2453869|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
Manufacturing output plunged 2.9% in June
UK manufacturing output plummeted by 2.9% month-on-month in June, and dropped by 0.9% in the second quarter, official figures have revealed ({http://www.heraldscotland.com/business/markets-economy/manufacturing-output-plunged-29-in-june.18397988|Herald\Herald}).
{http://www.scotsman.com/business/industry|Read all today’s industry news from scotsman.com|Read all today’s industry news from scotsman.com}
MANAGEMENT
Scots legal hub bid could create hundreds of jobs
The Law Society and Scottish Development International are teaming up to promote Scotland as a hub for the £512 million global legal support industry in a move that backers believe could create hundreds of jobs in the country ({http://www.heraldscotland.com/business/company-news/scots-legal-hub-bid-could-create-hundreds-of-jobs.18399323|Herald|Herald}).
{http://www.scotsman.com/business/management|Read all today’s management news from scotsman.com|Read all today’s management news from scotsman.com}
MEDIA & LEISURE
Investors eye extra payout on top of IHG $1bn windfall
SHAREHOLDERS could be in line for a further payout from InterContinental Hotels Group (IHG) on top of Tuesday’s bumper $1 billion (£650 million) return of cash, analysts have suggested ({http://www.scotsman.com/business/management/investors-eye-extra-payout-on-top-of-ihg-1bn-windfall-1-2453868|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
Co-op chief executive to retire after ‘truly outstanding job’
Co-operative chief executive Peter Marks yesterday announced he is to retire from the group, which last month agreed the £750 million acquisition of 632 bank branches from Lloyds ({http://www.scotsman.com/business/co-op-chief-executive-to-retire-after-truly-outstanding-job-1-2454951|Scotsman|Scotsman}).
{http://www.scotsman.com/business/retail|Read all today’s retail news from scotsman.com|Read all today’s retail news from scotsman.com}