News

The Financial Conduct Authority (FCA), the UK’s City watchdog, has fined Bank of New York Mellon (BNY) £126 million for failing to keep customer money safe during the financial crisis. The fine was levied on the bank’s London branch and on Bank of New York Mellon International for breaches that

Peter Rogerson Edinburgh-based Virgin Money has appointed Hometrack as its new residential property data analysts to provide Automated Valuation Model (AVM) services to the challenger bank under a three-year licence.

Emma Chalmers Properties in Perthshire are changing hands at a rapid rate with numbers of sales and property prices both continuing to rise in the region.

City of Edinburgh Council is set to become the first local authority in Scotland to become a private landlord, if plans currently under consideration go ahead. The local authority is planning to create an arm's-length company called Edinburgh Homes, which will attract private investment to fund new

Derren McRae Aberdeen’s transition from North Sea oil town to global energy city will assist in reducing the impacts of a low oil price on the city’s commercial property market, according to a paper from property consultant CBRE.

Craig Vickery New research from the Association of Chartered Certified Accountants (ACCA) has revealed that Scottish companies are among the UK’s best when it comes to paying interns.

Andrew Thorburn Clydesdale Bank has denied that it sacked staff involved in the falsifying of customer records in a PPI scandal that this week saw the Financial Conduct Authority hit the Glasgow-based lender with a record-breaking £20 million fine.

Sarah Speirs The lack of new houses being built in Scotland is pushing prices rapidly upwards, according to the latest RICS UK Residential Market Survey.

Anton Colella The Institute of Chartered Accountants of Scotland and the Chartered Institute of Public Finance and Accountancy are to work together in developing a joint qualification covering both public and corporate sector audit.

Ruth Davidson Scottish Conservative leader Ruth Davidson has launched a fierce defence of Right to Buy as prime minister David Cameron announced plans to “radically expand” the scheme in England.

Energy giant Centrica, the owner of Scottish Gas, has appointed a former Aviva boss to run its residential energy business. Mark Hodges becomes managing director of the key operation at a time when the energy market is the subject of a fullscale competition inquiry.

David Wheldon The Royal Bank of Scotland Group has announced the appointment of former head of advertising at Coca-cola David Wheldon to its new chief marketing officer role.

Latest official data has revealed that the Scottish economy grew by 2.7 per cent during 2014 and 0.6 per cent in the final three months to December. Liz Cameron

Mark Guest More than half of Scottish oil and gas workers are pessimistic about their short-term prospects and three-quarters of the sector’s UK work force are considering working abroad, according to a new study.

The owner of Edinburgh’s Ocean Terminal shopping centre has announced plans for a £6 million redevelopment the site with a scheme that will “include the introduction of new uses including residential and hotel development”.