News

Coop Bank secures £700m rescue deal

Coop Bank secures £700m rescue deal

A £700 million agreement has been reached which will see the floundering Co-operative Bank saved from going to the wall after shareholders agreed to swap their debt for a stake in the bank. The debt-for-equity swap with hedge funds means that the Co-op Group’s stake in the bank will fall from 20 per cent to about […]

AiB winds up controversial Scots charity with £1m debts

AiB winds up controversial Scots charity with £1m debts

Accountancy in Bankrupty has served a winding up order to Uddingston-based Scotia Aid Sierra Leone declaring the charity bankrupt with debts of more than £1 million. The news comes after Scotia Aid was reported to the charity regulator in 2015 by a whistleblowing trustee claiming to authorities that directors were paying themselves huge fees. According […]

Scottish law firm reports fifth consecutive year of growth

Scottish law firm reports fifth consecutive year of growth

Independent Scottish law firm Gillespie Macandrew has reported an 8.4 per cent increase in turnover, worth £0.88 million in growth over the year. The audited annual accounts show that the firm’s turnover reached £11.36 million in the year to 28 February 2017. This represents the fifth successive year of growth for the firm and the […]

LBTT revenue falls with commercial property revenue significantly down

LBTT revenue falls with commercial property revenue significantly down

Land and Building Transaction Tax (LBTT) revenue has fallen from April to May 2017, according to official figures released by Revenue Scotland and analysed by the Scottish Property Federation (SPF) have shown Overall, May 2017 saw LBTT revenues fall £3.2m to £43.5m compared to April 2017. The major factor in this month’s decline is a […]

£16.7bn Artificial Intelligence boost for Scottish GDP by 2030 – PwC

£16.7bn Artificial Intelligence boost for Scottish GDP by 2030 – PwC

The impact of Artificial Intelligence (AI) across UK’s industrial and commercial activities could boost Scotland’s GDP by up to £16.7 billion by 2030, according to new research by PwC. That’s the equivalent of an annual £2,200 extra spending power per Scottish household, with the improvements coming from gains in productivity, new business investment and product improvement, the […]

Blog: Scottish firms are ready for VCT moves

Blog: Scottish firms are ready for VCT moves

Rosalie Chadwick, partner and head of corporate finance at Pinsent Masons takes the temperature of Scotland’s IPO climate   Glasgow-based fashion retailer Quiz recently confirmed it is considering a £200 million flotation on the London Stock Exchange (LSE) and if it goes public will become the first sizable IPO Scotland has seen for some time. […]

Hampden & Co grows sharply in first full year of trading

Hampden & Co grows sharply in first full year of trading

Hampden & Co, the Edinburgh-headquartered private bank which opened in June 2015 to offer private banking facilities to high net worth clients, and their families has seen steep growth on both sides of the balance sheet. Results for 2016, its first full year of trading show the bank, which has offices in Edinburgh and London, […]

Scots’ retirement savings levels in decline, says Widows

Scots’ retirement savings levels in decline, says Widows

The number of Scots saving adequately for retirement has fallen to 59 per cent down from 61 per cent last year, according to Scottish Widows. Widow’s 13th annual Retirement Report shows the drop in adequate savings is due to 25 per cent of Scots now saving nothing, an increase on 19 per cent last year. […]

Digital change raising the bar for lenders, says CML

Digital change raising the bar for lenders, says CML

Digital change is radically altering consumer expectations in the mortgage market and “raising the bar for what borrowers expect from their home buying and owning experience,” according to research published today by the Council for Mortgage Lenders. Launched at today’s CML Mortgage Tech UK conference in London, the research Digital Change and Mortgage Borrowers says that technology […]