News

Citigroup has revealed an $81 trillion (c. £64 trillion) internal transfer error, raising questions about its ongoing efforts to address operational deficiencies. The incident, which occurred in April 2024, involved a payment intended to be $280, but was mistakenly entered with numerous extra

Aberdeenshire ice cream producer Mackie's of Scotland has reported a significant profit increase, driven by expanded supermarket distribution and successful marketing. Pre-tax profits rose by 67% to £2.24 million in the year to May, with turnover increasing by 7.2% to £22.3m. This turnar

Former Bank of England Governor, Lord Mervyn King, has stated that an increase in income tax is likely necessary to fund heightened defence spending and facilitate public service reform. Speaking on Sky News, Lord King criticised the UK government's lack of ambition. He said: "When you’re faci

Scotland has secured over £850 million in investment over the past four months, driven by strong interest in its burgeoning energy transition sector. The total is boosted today by the Scottish National Investment Bank’s (SNIB) announcement of £6.7m for Subsea Micropiles, which is d

Businesses behind Scotland’s most emblematic exports have secured £42 million in UK Export Finance (UKEF) deals since the summer, facilitating international expansion. Enabling companies such as Ferguson Whisky and manufacturer of fire and rescue vehicles Emergency One, which the governm

Scotland’s focused global trading strategy is producing tangible results, Business Minister Richard Lochhead has told an audience of Scottish exporters. The Scottish Government’s sector-specific export plans target action on areas of strength, such as renewable energy, technology, life s

Bee Happy Breaks Scotland Ltd – a Perthshire self-catering accommodation business – has secured a £48,000 funding boost from the British Business Bank’s Investment Fund for Scotland to increase its capacity and cater for more overnight guests. Run by Joyce and Alan Jamieson,

Scottish businesses are grappling with a surge in overdue invoices, reaching a three-year high in January, according to new research from R3. The insolvency and restructuring trade body's analysis of data provided by Creditsafe shows that businesses in Scotland had a total of 611,754 overdue invoice

Wood Group has appointed Iain Torrens as interim chief financial officer (CFO). Mr Torrens will also join the company’s board as an executive director, effective immediately. His appointment is interim while the company conducts a comprehensive search process for a permanent CFO, followin

Johnston Carmichael has expanded its audit capabilities with the appointment of Jane Ferguson as a new partner. Ms Ferguson has joined from a Big Four audit team and has more than 18 years’ experience in audit, assurance and financial reporting across Scotland.

A Flamin' Hot Cheeto in the shape of a Pokémon is set to be sold at auction.

One of Scotland’s trade bodies has demanded immediate action to lift Scotland’s £1 billion self-catering industry from crisis, blaming the Scottish Government’s repeated failure to reform its flawed short-term let regulations wreaking havoc across Scotland. The Association of

Towers Watson, a WTW business with Scotland offices in Edinburgh and Glasgow, has expanded its senior team, with the appointment of Keith McInally and Heather Meighan. Mr McInally, based in Edinburgh, joins as a director in the retirement team, to lead investment strategy for WTW's Scottish retireme

Workers at outsourcer Capita, which has an office in Glasgow, have begun strike action in a dispute over their employer’s refusal to negotiate a pay award for 2024.

Chartered surveying firm DM Hall has recognised the achievements of six colleagues with the appointment of two new directors and four new associates. Calum Riach and Lesley Coghill, who are both part of the firm’s highly successful Inverness office, have been promoted to director status and Br