News

Deutsche Bank is set to be hit with a fine worth more than $1.5bn(£1.02bn) in what would be the biggest penalty imposed for manipulating Libor. The German bank is in negotiations with agencies in the UK and US to settle the allegations in which a Deutsche Bank subsidiary could also plead guilty as

Philip Rodney Burness Paull’s chairman said the firm is due to see turnover and profits rise by 15 per cent in the year to July 31 with all parts of the business performing well.

Stephen Good The Scottish construction sector has no need to be concerned despite a fall in construction output, according to an industry professional.

Ramsay Duff Glasgow-based investment house Maven Capital Partners has announced the completion of a £13.75m deal to buy an empty 6,000m2 office building in Cardiff city-centre for conversion into a 100-bedroom Hotel Indigo, the boutique brand of InterContinental Hotels Group.

Laura Gardiner A new study has revealed that the average Scottish household income is more than £400 higher than before the recession kicked off by the 2007-08 economic crisis.

One of the world’s largest professional services firms, Arup Group, has been confirmed as the latest office occupier of 1 West Regent Street, the new Grade A office development located in the centre of Glasgow. Arup has taken the entire seventh floor of the property, comprising 13,681 sq ft of off

Alastair Rae Scottish hotel revenue and occupancy wavered in January according to the latest report on the sector from accountants BDO.

Aberdeen-based accountants Anderson Anderson Brown has announced the promotion of four members of their management team to senior positions. Management information solutions (MIS) specialists Carol McGregor and Jonathan Leiper have been elevated along with Lynn Gracie of the firm’s private client

Baker Tilly has strengthened its restructuring and recovery practice in Scotland with three senior hires poached from Begbies Traynor. Paul Dounis joins as a partner and Kevin Lamb as a director, both of whom will be based in Edinburgh, while John MacLean joins the Glasgow office as director.

Allan Leighton The Co-operative has today posted a profit of £124m for 2014, marking a remarkable turnaround for the Group which suffered a £255m loss in 2013.

The Bank of England has announced that UK interest rates are to remain at 0.5 per cent, more than six years after the record low was introduced. Expectations of a rise any time this year have been put on hold with Consumer Price Index (CPI) inflation at zero.

Matt Henderson  

Ian Williams One in seven Scots say they borrowed money last month to buy food, according to research carried out on behalf of debt advice and solutions provider Debt Advisory Centre Scotland (DACS).

The University of Aberdeen has put a number of major projects at the campus on hold as part of plans to reduce its budget by £10.5 million. All capital expenditure projects which have yet to start have been put on hold for three months, including the £100m energy research centre and the redevelopm

Steven Nicholls Aberdeen Asset Management has launched four multi-asset funds aimed a retirees exploring post pension reform options.