News

A disgraced Scots lawyer who was jailed after embezzling more than £400,000 from a deceased person’s estate has been struck off the solicitors’ roll. Michael Karus, who was sentenced to three-and-a-half years’ imprisonment after pleading guilty to misappropriating £413,052 while acting as th

The number of Scots going bust during the past three months rose by 38.9 per cent compared with the previous quarter, according to analysis of the latest Accountant in Bankruptcy figures by leading corporate lawyers Morisons LLP. However, the data also revealed that the third quarter of 2015 (July t

Clydesdale Bank has reported a rise in retail customer savings and lending for the year to September as its Australian parent firm set a date for its sale. National Australia Bank (NAB) announced that it is to float its British subsidiary on the London and Australian stock markets in early February

The volume of residential sales in Scotland rose 6.5 per cent in the second quarter of 2015-16 compared to the same period in the previous year, according to official statistics published today by Registers of Scotland (RoS). A total of 28,019 properties were submitted for registration between July

The number of mortgage approvals in September was 24 per cent higher than a year ago, with remortgaging up 40 per cent and house purchases up 14 per cent, according to the British Bankers Association’s High Street Banking Statistics for September. First-time buyers continue to find good deals avai

Edinburgh-based insurance giant Standard Life has been hit by controversy after it was accused of overstepping the line between advice and guidance in a letter to customers that suggested they switch to a higher-charging fund. According to reports, thousands of customers were contacted urging them t

Scotland’s biggest grant giving trust says that tough economic conditions are now forcing it to finance charities’ staff costs. The revelation comes as The Robertson Trust, which was founded in 1961 by Elspeth, Ethel and Agnes Robertson, awarded a record £18.2 million during the year 2014/15 to

Publicly funded economic development agency Scottish Enterprise is to impose severe wage cuts of about 10 per cent on thirty of its staff just weeks after the majority of workers, and highly paid directors scooped above-inflation pay rises. Several senior members of Scottish Enterprise’s leadershi

Latest figures from KPMG have revealed that the number of Scottish firms going bust has fallen to pre-recession levels. The global accounts said there was a 30 per cent year-on-year drop in the number of corporate insolvency appointments north of the border from July to September 2015.

Donald McRae Bank of Scotland chief economist Donald MacRae has announced his intention to retire in next month.

New figures have revealed that Scotland’s mid-sized businesses (firms with a revenue between £10 million to £300 million) have increased collective turnover by 63 per cent over the last five years from £32bn to £52bn. The performance compares to a UK figure which showed an increase of only 55

It is estimated that defunct law firm McClure Naismith could have owed creditors more than £5 million. The Glasgow-based firm went into administration in August but about 80 jobs were saved with partners and staff moving to rivals including Burness Paull, Maclay Murray & Spens,Harper Macleod an

Small and medium size businesses (SMEs) in the Glasgow and Clyde Valley area can find out for free how they might share in over a billion pounds worth of investment being delivered through the City Deal. The Glasgow and Clyde Valley City Deal is an agreement between the UK government, the Scottish G

The Glasgow Solicitors Property Centre (GSPC), the largest estate agency network in west central Scotland, has released its quarterly report for Q3 2015 with statistics showing that despite no substantial change in house values over the past year, selling times have fallen significantly. Accounting

Bank of Scotland has provided housing association Hanover Scotland with a £40 million funding facility in an innovative agreement which is the first of its kind in the social housing sector. The transaction, which combines a five-year, £20m revolving credit facility and private placement will be u