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EY's failed attempt to spin off its consulting arm, known as Project Everest, left the firm with a hefty debt that took longer than expected to clear, according to its latest yearly account. Despite aiming to repay the $700 million (c. £575m) credit facility by July 2024, the Big Four firm sti

The shortest-serving Prime Minister in UK history, Liz Truss, has taken legal action against Sir Keir Starmer over his claims that she "crashed the economy". According to The Telegraph, a cease and desist letter sent to the sitting prime minister by lawyers acting for Ms Truss claims his statements

The FinTech Scotland Cluster has recorded an 8% year-on-year employment growth during 2024 bringing the total number of people working in fintech to over 11,300. The continued economic contribution by the cluster comes as Fintech Scotland reaches its seventh anniversary since formation.

Three Aberdeen oil firm buildings have been acquired by EEH Ventures, a London-based investment firm, as part of a deal worth £45 million. The 275,000 sq ft portfolio at the Prime Four business park in Kingswells, was previously owned by Canadian financial services company BMO. It houses the h

Glasgow paraplanner Steven McBurnie has been appointed as chair of the Chartered Institute for Securities & Investment (CISI) Paraplanner Interest Group (PPIG). Mr McBurnie, a paraplanner at Wright, Johnston & Mackenzie, has served on the CISI PPIG committee for five years.

Shops in Scotland are expecting to see their business rates bills rise by around £7.6 million from April 2025. The Scottish Government's Budget increases the business rate for all firms occupying medium-sized and larger commercial premises by 1.7% in 2025-26.

In November 2024, there were 114 company insolvencies registered in Scotland, 5% higher than the number in November 2023. The total number of company insolvencies was comprised of 55 CVLs, 54 compulsory liquidations and five administrations. There were no CVAs or receivership appointments.

Upcoming changes to lease accounting standards are set to impact all businesses when they come into force, introducing new complexities for property owners, leaseholders and lenders alike, Henderson Loggie has warned. In addition, businesses are being advised to prepare for changes which will raise

Glasgow Credit Union has announced a record £4.6 million return to its members following the approval of a 3% annual dividend at its Annual General Meeting (AGM). Almost 90% of the credit union’s profits for the year have been returned to members, marking it as its most successful year a

The Institute of Chartered Accountants of Scotland (ICAS) marks its 170th anniversary this month, celebrating its position as the world's oldest professional body for chartered accountants. Since its founding by Royal Charter in 1854, ICAS has played a pivotal role in shaping the global accounting p

Macy's has concluded its investigation into an employee who concealed $151 million (c. £118m) in delivery expenses over three years.

Former banker Lord Mervyn Davies has been appointed chair of Edinburgh-based Shot Scope. Mervyn Davies, Lord Davies of Abersoch, was formerly chief executive and chairman of Standard Chartered and awarded a CBE in 2002 for his services to the financial sector. He is currently chair of the Lawn Tenni

An Irish property investment and development firm is in advanced discussions to purchase the Virgin Hotel in Glasgow.

"More clarification needed" was the overarching view of tax specialists at MHA following unveiling of the Scottish Government’s Budget. Headlines may be written about an end to the two-child benefits cap and an extension of hospitality business rates relief; however, it is perhaps what hasn&rs

Johnston Carmichael has strengthened its leadership team with the promotion of four partners and a director. In total, the accountancy firm has promoted 65 people across the business this month. The latest round of promotions adds to 97 people already promoted this calendar year, accounting for almo