News

In what marks the first time the Financial Conduct Authority (FCA) has fined an audit firm, the regulator has issued PwC a £15 million penalty for failing to report suspicions of fraud at now-defunct London Capital & Finance (LCF).

A star American footballer has unexpectedly come to the defence of a woman jailed for stealing $1.5 million (c. £1.16m) worth of chicken wings. Chris Jones, a player for the Kansas City Chiefs, has offered to pay for the wings in order to secure Vera Liddell's release from prison, USA Today re

The country's largest food export, Scottish salmon, has generated £431 million between January and June, according to new figures.

Addleshaw Goddard, which has offices in Edinburgh, Glasgow and Aberdeen, has announced revenue of £496 million for the past financial year, representing growth of 12%. The firm's performance was driven by material investments in tech, core practices and priority sectors alongside office openin

Public sector fraud in Scotland has risen by almost 50% according to Audit Scotland. A data matching exercise, part of the UK-wide National Fraud Initiative (NFI), detected £21.5 million worth of fraud and payment errors across the Scottish public sector.

The Scottish Government’s Government Expenditure and Revenue (GERS) figures have shown that people in Scotland benefit from £2,417 more per head of additional spending compared to the UK average. In 2023-24, £88.5 billion in tax receipts was raised in Scotland through devolved and

The UK economy grew by 0.6% in the second quarter of 2024, matching expectations and marking a continued recovery from last year's recession. However, monthly GDP growth was flat in June due to poor weather impacting retail sales. Experts warn that challenges remain for sustaining long-term growth,

The Scottish Space Network has appointed Ross Hamilton as chief operating officer (COO) to help drive investment and growth across Scotland’s space sector. Mr Hamilton began his career with Rolls-Royce plc in the late Eighties, going on to work for JP Morgan and other Fortune 100 companies in

Law firms Wright, Johnston & Mackenzie LLP (WJM) and Irwin Mitchell have announced an event exploring the transformative potential of Green Freeports for the Highland economy. The event, part of Highland Business Week in September, will feature expert insights from Calum MacPherson, CEO, Inverne

Shona Campbell of Henderson Loggie has been appointed liquidator to Forfar care home Lochbank following its closure after its registration was cancelled by the Care Inspectorate. The closure follows an inspection report in April that labelled key areas of operation as "weak". Lochbank's 32 staff and

HMRC has cancelled a record 36,000 late self-assessment penalties last year, a 70% increase from the previous year. This surge coincides with HMRC's customer service hitting an all-time low, with long wait times for taxpayer assistance. Many appeals cited HMRC service issues as a "reasonable excuse"

Turnberry, the Scottish golf course owned by former US President Donald Trump, is set to become the world's most expensive with green fees rising to £1,000 in 2025. This significant increase, from £176 in 2014, aims to prioritise hotel guests and members over non-resident golfers who wer

The Financial Conduct Authority (FCA) has censured the auditor Macintyre Hudson LLP (MHA) for failing to prepare client assets reports to the required standard.

Inverness-headquartered Aurora Energy Services has announced its expansion into South America with the acquisition of a Chilean wind energy services business. Aurora has acquired the Latin American assets of Altitec Blade Services, which is a separate entity from the parent group acquired in Februar

Britain’s biggest pension fund has bought more than 3,000 shared ownership homes from American investment group Blackstone for £405 million.