News

Clydesdale Bank owner Virgin Money has begun its search for a new chairman after Dundee-born financial services veteran Jim Pettigrew announced his plans to retire by September 2021. The Glasgow-based group said that the board has initiated a search process to allow time to identify his successor an

Par Equity had a record-breaking final three months in 2019, securing one exit, battery technology expert Dukosi, and orchestrating 11 investments. Edinburgh-based Par Equity, which specialises in investing in young, high-growth companies, saw London-based managers join them in putting money in

RBS has today announced a new £1 billion fund through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses. The bank has also announced that it is setting a target to support and inspir

Archaeological services provider GUARD Archaeology Limited is the latest business in Scotland to become employee-owned, with 32 members of staff given a stake in the business. The company, which has offices in Glasgow and Edinburgh, provides a wide range of archaeological services throughout Scotlan

Michael Reid, insolvency partner at Aberdeen-based Meston Reid & Co, discusses whether voluntary liquidation is a practical response to IR35. New legislation that goes live this April could be the death knell for many personal service companies active in the north-east of Scotland, but perhaps o

David Griffiths, Conrad Beighton and Paul Masters of Leonard Curtis Business Rescue & Recovery have been appointed as joint administrators of The Burger Chain Limited. The company has 18 restaurants across the UK, with two in Glasgow and branches in Aberdeen and Edinburgh.

HM Treasury, following the advice of the board of the Financial Conduct Authority (FCA), has appointed Christopher Woolard as interim chief executive. Mr Woolard will take on the chief executive role following Andrew Bailey’s departure to become governor of the Bank of England.

The Association of British Insurers (ABI) is urging the government in its forthcoming budget on 11 March to cut the rate of Insurance Premium Tax (IPT) and ease the squeeze on families and businesses who do the right thing by taking out insurance. The government currently earns more from IPT than it

In a comprehensive review of the future of UK payments, the Institute for Public Policy Research (IPPR) has set out how the transition to a ‘less cash’, but not cashless, digital economy can be managed to protect the vulnerable and spread digital opportunities widely and fairly. The

Jordan Belfort, the subject of Martin Scorsese's 'The Wolf of Wall Street', has brought allegations of fraud against the production company of the movie.

The Big Four accounting firms are engaging in talks with the audit regulator regarding a self-imposed break-up in an attempt to get ahead of government enforcement action. The Financial Reporting Council (FRC) is currently drawing up guidelines for the separation of audit and consulting operations a

Edinburgh-based technology firm Appointedd has launched a new Enterprise Management Incentive (EMI) scheme for its staff with support from accountants Chiene + Tait (C+T). Founded in 2011 by CEO Leah Hutcheon, Appointedd provides clients with an intelligent and efficient online booking tool. Th

Oil and gas engineering firm Hunting PLC has appointed Scottish energy sector executive Bruce Ferguson as its new group finance director as Peter Rose announces his retirement. Mr Rose has notified the board of his intention to retire as group finance director and a member of the board at the conclu

James Kergon, a partner and head of KPMG's deal advisory team in Scotland, looks back at 2019 and previews 2020 from an M&A perspective, focusing on how data and tech are going to drive a lot of future Scottish activity. In recent years, Scotland’s business community has become increa

Glasgow-based investment business Nevis Capital did not complete any deals in the latest year naming the unrealistic price expectations of sellers as the principal reason. The company, founded by John and James Pirrie, said that the price expectations of some sellers caused complications in the mark