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Dundee City Council will have to make cuts of £23 million over the next financial year, the local authority has revealed. Previously, council chiefs had said that they would need to find £28m worth of savings spread over 2016/17 and 2017/18, however, the authority is now saying that £23m of cuts

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KPMG has been appointed as administrators at historic Borders firm Hawick Knitwear which has announced the loss of more than 100 jobs. KPMG confirmed they had been appointed as administrators at the request of the company's director.

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Last year saw UK house prices rise by 9.5 per cent, according to the Halifax - the fastest annual increase for the market in nine years. The lender said the last month alone saw prices rise by 1.7 per cent, bringing the average price of a home to £208,286.

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Graham Cunning 2016 could be the ideal year in which to exit from a business with conditions for a sale set to be amongst the most favourable for many years, according to a leading Scots corporate financier.

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Oil prices tumbled to $32.62 a barrel this week as a result of rising US energy stockpiles and China's weakening currency. The price of oil fell more than 2 per cent in early trading on Wednesday as oil becomes so oversupplied globally that countries are running out of storage.

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A former bank in Glasgow is to be turned into a not-for-profit law office by its new owner to fill a gap left by ongoing legal aid cuts. Solicitor Graham Walker, a road traffic law specialist, is to renovate the former Royal Bank of Scotland building on the city's Shettleston Road – part of an old

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