News

The closure of Scotland's only oil refinery, Grangemouth, has put over 3,000 jobs at risk due to a ripple effect across the supply chain. The company has confirmed it will cease refining oil at the site during the second quarter of 2025 onwards due to global market pressures and competition from big

Which? is urging the Financial Conduct Authority (FCA) to crack down on insurers charging excessive interest rates for monthly premium payments. A new investigation by the consumer group reveals some providers are charging APRs as high as 45%, with an average of over 20% across both car and home ins

The Conveyancing Information Executive (CIE) has announced the membership of Millar & Bryce as an associate member. The CIE provides a rigorous and transparent approach to property search governance standards, with data integrity, accuracy and transparency underpinning values in the overall prov

An engineering fabrication firm in Lochaber has embarked on a £539,000 project that will significantly increase productivity and efficiency, and help meet growing demand for its services. Northern Engineering and Welding Company (NEWCo) is expanding its premises in Fort William by 50% and inst

Hospitality businesses should prepare for imminent changes to the law on tips and gratutities or face the risk of employment tribunals and penalties, a tax specialist has warned. The new Employment (Allocation of Tips) Act 2023, which takes effect on 1 October 2024, will make it unlawful for employe

The Bank of England's Prudential Regulation Authority (PRA) has revised its proposal for stricter capital rules for UK banks, opting for a milder approach and delaying implementation to 2026. The changes include relaxed capital requirements for small businesses, mortgages, trade finance, and infrast

The UK government has introduced a bill which permit cryptocurrency and other digital assets to be classified as personal property. The Property (Digital Assets etc) Bill, which enacts the recommendations of the Law Commission of England and, was introduced in Parliament yesterday.

Scotch Whisky exports have faced a significant decline in the first half of 2024, with an 18% year-on-year, according to figured released by the Scotch Whisky Association (SWA). Data for H1 2024 shows that the value of Scotch Whisky exports declined when compared with the first half of 2023 - a year

Store closures in Scotland have slowed significantly, with towns and cities losing less than one shop a day on average, according to PwC. PwC's bi-annual report, using data from location data specialist Green Street, tracks more than 200,000 chain outlets in over 3,500 locations to gain a picture of

Edinburgh-based Capital Credit Union has praised the impact apprentices are having on the business, as it currently employs four apprentices and is encouraging other organisations to follow its lead. Chief executive Marlene Shiels said: “We’ve been employing apprentices for 10 years

The Scottish National Investment Bank has invested £20 million in ZeroAvia, a developer and manufacturer of zero-emission engines for commercial aviation. The funding completes the company’s Series C financing, reaching $150m (c. £115m), and will bolster the burgeoning aerospace su

A Johnston Carmichael recruitment manager is stepping out for suicide prevention services at this weekend’s Edinburgh Kiltwalk, in memory of her late father. Laura Mackenzie, who is originally from Uttoxeter, but has lived in Edinburgh for 18 years, is undertaking the capital’s 20-mile M

Growth capital investment firm BGF has appointed Gregor Steedman and Michael Berger to its Edinburgh team following strong activity in the region and looks ahead to future deal growth. Mr Steedman joins as an investor, bringing with him a wealth of experience and unique insight. Prior to joining BGF

The HFD Charitable Foundation and Virgin Money Foundation have launched a new fund to support community groups and charities with projects to address digital inequalities in Glasgow and the surrounding area.

Residential property prices in Scotland rose at the fastest rate since mid-2022 according to the results of the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, and Scottish surveyors expect sales and prices to rise over the next three months. A net balance of 39% of