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The Prudential Regulation Authority (PRA) has imposed a financial penalty of £10,625,000 on U K Insurance Limited (UKI Limited) in connection with a miscalculation of their Solvency II balance sheet during 2023 and 2024. This resulted in UKI Limited overstating its solvency to the PRA and to t

New findings from Bank of Scotland’s Business Barometer show that AI is helping Scottish firms work more efficiently and unlock new opportunities for growth. Scottish businesses integrating AI into their operations are reporting significant financial benefits, with 96% seeing increased product

More than two-thirds (70%) of small business leaders in Scotland have not pursued a potential business venture because of a lack of confidence, new research by YouGov on behalf of the British Business Bank has revealed. This crisis of confidence is costing the UK over half a million potential busine

Revolut Bank UK Ltd has received regulatory approval from the Prudential Regulation Authority (PRA) to exit the mobilisation phase, and launch as a bank in the UK.

A long-established family-run specialist flooring contractor headquartered in East Kilbride has ceased trading after its directors appointed administrators this week, with 43 employees made redundant. George Lafferty of BTG was appointed administrator of Industrial Floor Treatments Limited on 10 Mar

BGF-backed hedgehog lab, the Newcastle-headquartered digital product consultancy, has appointed Malcolm Seagrave as chief executive as it accelerates expansion plans that place Scotland at the heart of its ambitions. Mr Seagrave steps up after 18 months as managing director of the firm's UK operatio

CBRE has advised Sky in securing a long-term lease on new office space at 55 Douglas Street in Glasgow city centre, comprising 26,184 sq ft across the fourth and fifth floors of the Grade A building. The move to 55 Douglas Street represents a strategic investment by Sky in its people. Following a co

Edinburgh-headquartered Legado has seen triple-digit growth in its customer base over the last twelve months and is approaching half a million users as the financial services sector rushes to adopt more digital infrastructure. The Scottish fintech, which supports financial institutions in modernisin

Susie Lind, partner in the Edinburgh office of international law firm CMS, has been appointed as chair of Scottish Renewables. Ms Lind – who joined the law firm last November – succeeds Adam Morrison, the UK country manager for Ocean Winds, who served in the role from 2021.

Royal Bank of Scotland-owner NatWest Group has appointed Kevin Havelock as mid-market champion for Scotland. The appointment comes as the group has appointed a total of 12 mid-market champions across UK nations and regions, part of its "growing together" plan to drive UK wide growth by supporting re

Two exceptionally rare casks of whisky from the celebrated "ghost" Japanese distillery Karuizawa have set a new record at Christie's, becoming the highest-value lots ever sold at one of the auction house's Wine and Spirit sales. The two casks, numbered #6195 and #888, achieved a combined total of &p

An Edinburgh-based tour operator is turning a personal storytelling project into a sustainable tourism activity thanks to tailored guidance from Business Gateway.

The Federation of Small Businesses (FSB) has called for Glasgow to establish a fire recovery fund to help small businesses get back on their feet following the devastating Union Street fire. Scores of small businesses have been affected by the huge blaze which has resulted in the closure of a large

Edinburgh-headquartered technology services firm Stellar Omada has secured the HMRC Application Testing Services (ATS) Lot 1 contract – a five year contract valued at over £10 million. Falling under the Crown Commercial Service (CCS) Quality Assurance and Testing for IT Systems 2 Framewo

A landmark event was held in Edinburgh to mark 250 years since Adam Smith published The Wealth of Nations, the work widely regarded as the foundation of modern economics. Smith, known globally as the father of modern economics, published his seminal book An Inquiry into the Nature and Causes of the