News

Perth-based energy giant SSE has agreed to sell a 16-megawatt onshore wind farm in Scotland to GE Financial Services, a unit of General Electric Co. Under the deal, GE will own and operate the 10-turbine project near Hawick when construction is finished in the first half, Perth, Scotland-based SSE s

Royal Bank of Scotland has today announced that it is to sell Coutts International, its internationally managed private banking and wealth management business, to Swiss bank Union Bancaire Privée (UBP). The Financial Times has reported that UBP will pay between $600m and $800m for the business.

Aberdeen Asset Management has announced that it has agreed to purchase SVG Capital’s stake in their joint venture vehicle, Aberdeen SVG Private Equity Managers Limited for £29 million. In May 2013, Aberdeen acquired a 50.1 per cent stake in Aberdeen SVG Private Equity from SVG Capital plc with th

Deloitte has strengthened its north east team with the appointment of director Oliver Pendred to its Aberdeen office. The ‘big four’ firm said the move comes amid growing demand for international tax services from oil and gas companies.

The board of Alliance Trust has issued a direct appeal to its 60,000 shareholders to reject a move by its largest investor to install a trio of new directors on the Dundee-based firm’s board. In a circular sent out yesterday, the Trust’s current bosses claimed that the boardroom shake up instiga

The average price for a city home in Scotland has increased 7 per cent on last year, according to the Bank of Scotland Affordable Cities Review. The deterioration of home affordability for city dwellers in Scotland means the average price (£175,962) stands at 5.24 times gross annual average earning

Aberdeen had the highest hotel revenue outside London for 2014 as Scotland’s hospitality sector outperformed the rest of the UK, according to the latest report by accountants BDO. The firm’s regular hotel survey found that the annual revenue (the industry term for rooms yield) in Aberdeen was hi

Edinburgh-based energy consultancy Wood Mackenzie (WoodMac) has predicted oil exploration costs will fall by a third next year. But the welcome forecast comes as news emerged yesterday that industry giantsShell and Taqa have both announced plans to cut hundreds of North Sea jobs.

Consultancy Dunfermline Housing Finance (DHF) has reminded RSLs that 31 March is an important date relating to claims for fixed rate overcharges or even mis-selling of interest rate swaps. A Financial Conduct Authority-led initiative requires many RSLs to submit a request for a review of arrangement

Deputy first minister John Swinney MSP was the special guest at a seminar on taxation in Scotland, and his contribution on topics ranging from the launch of Revenue Scotland to the importance of a progressive tax structure was welcomed by the audience in the Laigh Hall, Parliament House, Edinburgh.

Latest Office for National Statistics figures have revealed UK retail sales grew more strongly than expected in February. Sales were up 0.7 per cent compared with the previous month, according to the ONS.

Scott-Moncrieff has announced that it is to merge with Inverness firm Callander Colgan. The Glasgow and Edinburgh-based accountancy practice said the move will give it an increased presence in the Highlands and a permanent base from which to serve new and existing clients.

Edinburgh-based Royal Bank of Scotland has today announced that it has increased the number of shares it sold in US subsidiary Citizens from that previously stated due to a scramble from investors. RBS said that it could now sell up to 155m shares in the company, bringing in £2.5bn for the 80 per c

A committee of Westminster MPs have slammed HM Revenue and Customs for what they described as “too cosy” a relationship with large accountancy firms which advise wealthy individuals and corporations on how to avoid tax. A hard-hitting parliamentary report produced by the House of Commons Public

A new report published by the Scottish Government has put Royal Bank of Scotlandand Bank of Scotland owner Lloyds Banking Group’s combined share of the small and medium-sized business banking market north of the Border at more than 70 per cent. The dominance of RBS and Lloyds was underlined in the