News

The Financial Reporting Council (FRC) has today published its annual inspection and supervision results of the largest audit firms (BDO, Deloitte, EY, Grant Thornton, KPMG, Mazars and PwC). Overall, 75% of audits inspected were good or required limited improvement (compared to 71% in 2021 and 67% in

FRP Advisory partners Callum Carmichael and Chad Griffin have been appointed joint provisional liquidators of Dalkeith-based Terry Healy Group, an all-trades building and home improvements business. The provisional liquidation has been caused by unsustainable cash flow problems stemming fr

Clydesdale Bank owner Virgin Money has informed the majority of its staff that they will receive a one-off payment of £1000 in their August pay to help ease their financial pressures in light of the rising cost of living.

Tech giant Apple is facing a lawsuit in the US over allegations that its monopoly on contactless payments made using iPhones constitutes anti-competitive conduct. iPhone users can only make contactless payments through Apple Pay, while users of Android-powered smartphones can choose between competin

Shona Campbell of Henderson Loggie has been appointed as liquidator of Edinburgh-based video tech firm Ajenta. The move to liquidate Ajenta is a result of the severe impact Covid restrictions had on its ability to supply hardware to customers. Despite experiencing its strongest ever trading in recen

Deloitte has warned of high expectations of a recession occurring within the next year as surveyed industry leaders brace for economic downturn. Amid rising inflation and intensifying economic headwinds, finance leaders assign a 63% probability to experiencing a recession within the next year, accor

Aberdeen-based advice firm Burnett & Reid Wealth Management has been acquired by Clifton Asset Management. After receiving significant first round funding from independent asset manager, BOOST&CO, Clifton Asset Management plc has completed the acquisition of Aberdeen based, Burnett &

UK inflation reached a new record high in June, as the Consumer Prices Index (CPI), measured by the Office for National Statistics (ONS) hit 9.4%.

The nationwide independent financial advice and fund management firm One Four Nine has completed its fourth acquisition with the purchase of Glasgow-based APC Financial Solutions & Consultancy Services. The move expands the Group’s footprint into Scotland, increasing the firm's Assets Unde

Nearly 600,000 people are now paying less in interest and charges on their credit card debt because of changes made by the Financial Conduct Authority (FCA). In its Annual Report, published today, the FCA has set out how it has worked over the past 12 months to meet its objectives of protecting cons

Almost half (49%) of all small business owners in the UK are set to increase their prices as they look to battle rising costs, according to a new report from small business insurance provider Simply Business.  The SME Insights Report, saw over 1,000 small business owners from across the UK surv

Phone scam reports have fallen by 84% in Scotland over the last year, new regional data from HMRC has revealed. In Scotland, 384 phone scams were reported to HMRC in June this year compared to 2432 in June 2021. People aged between 25 and 34 appear to be most affected by scams in the region, with 94

The Artisanal Spirits Company (ASC), the owner of The Scotch Malt Whisky Society (SMWS) has hailed a strong performance in the first half of 2022, as sales increased by 25% to almost £10 million.

A cannabis farm in Wishaw was raided after police caught a whiff of its distinctive smell — from their police station next door.

Lloyds Banking Group welcomed the Scottish Government to the Dundee offices of its recently acquired Embark Group. Embark was acquired by Lloyds earlier this year to help give customers more control of their long-term financial planning. It already provides retirement solutions to more than 350,000