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Labour productivity in Scotland, measured by output per hour worked, increased by 1.1 per cent in real terms (inflation adjusted) during the first three months of 2019 compared to the same quarter last year.

Atom Bank, iwoca, Modulr Finance and The Currency Cloud Group have each been awarded £10 million from the Banking Competition Remedies Board  - the fund spun out of the EU's deal with bailed-out Royal Bank of Scotland. The cash award comes from the Capability and Innovation Fund Pool C, o

Close Brothers Asset Management (CBAM) has appointed Alastair Wilson to the role of managing director, strengthening the high net worth investment management capability of the firm’s office in Edinburgh, and supporting its ongoing growth. Mr Wilson has more than thirty years’ experience

UK plc borrowing rose for the eighth consecutive year in 2018/19, according to the latest Link Group UK plc Debt Monitor. Net debt (total borrowings less cash), jumped 5.8 per cent to a new record of £443.2bn, even allowing for higher cash balances.

By Graeme Hartop, chief executive at Hampden & Co  

Nationwide has been told to refund £6 million to affected current account customers after it broke a legal order from the Competition and Markets Authority. The action comes after Nationwide was found to have broken Part 6 of the CMA’s Retail Banking Market Investigation Order 2017, whic

The UK’s economy has unexpectedly shrank 0.2 per cent in the second quarter – its first contraction since the last quarter of 2012, when GDP fell by the same amount.

Legal & General Investment Management (LGIM) has announced a strong set of financial results for the six months to 30 June 2019, with half year profits represented up 11 per cent, driven by growth in its corporate pension business and more money flowing into its asset management unit. LGIM said

The Financial Conduct Authority has given its approval for the sale of Glasgow-based fintech business Castlight allowing a takeover by consumer-credit giant Experian to complete. Castlight, which was founded in 2014 uses technology to combines bank account data with credit scores to give a rounded v

Marisha Czoski, finance analyst with BlackRock in Scotland has been announced as the winner of the ACCA gold medal for the March 2019 exam session. Commenting on Marisha’s achievement Craig Vickery, head of ACCA Scotland, said: “To be awarded the ACCA gold medal – to be the fi

The owner of Clydesdale Bank, Yorkshire Bank and Virgin Money has seen its bottom line hit by lots of mortgages being paid off. CYBG signalled its full-year interest-rate margin would be at the lower end of previous guidance as it reported a dip in its mortgage book during the third quarter of its f

Accountancy firm Grant Thornton has informed the Financial Reporting Council (FRC) that it will quit as auditors of the controversial businessman Mike Ashley's sports chain after the business revealed a £616m tax bill from Belgian authorities just hours before it was due to sign off its accoun

Edinburgh-headquartered fintech firm FNZ has made a significant expansion into Australia after announcing an agreed takeover of fellow financial software company GBST. The deal values GBST at £152m - more than twice the average share price in the month to 11 April when it receiv

A man in Australia who has claimed the country's taxation laws do not apply to him because he does not accept recognition as a person has been told by a magistrate that his argument "would make a mockery of the law". Glen James Polglaise, of North Bendigo, Australia, failed to submit six tax returns

Audit giant KPMG has been hit with another £5m fine after failing to identify that bank BNY Mellon was mixing £1 trillion of clients’ savings with its own funds, contrary to rules and leaving customers exposed to the risk of losses. The fine means KPMG has paid £21m since Jun