Scottish Business News | Herald Scotland http://www.heraldscotland.com/business Scottish Business News | Herald Scotland Copyright 2012 Herald & Times Group all rights reserved 2012-05-23T13:45:02+01:00 M&S scales back new store opening plans http://www.heraldscotland.com/business/company-news/m-s-scales-back-new-store-opening-plans.17665968 MARC Bolland, chief executive of Marks & Spencer, slashed sales targets and scaled back the retailer's store opening plans after it suffered its first fall in pre-tax profit for three years in the face of a weak economy and low consumer confidence. Tesco chief turns down £372,000 annual bonus http://www.heraldscotland.com/business/people/tesco-chief-turns-down-372000-annual-bonus.17665948 TESCO chief executive Philip Clarke has taken pre-emptive action to avoid becoming another victim of the so-called shareholder spring by opting not to take a £372,000 annual bonus following the supermarket giant's problems in its home market. Annual inflation drops to two-year low of 3% http://www.heraldscotland.com/business/markets-economy/annual-inflation-drops-to-two-year-low-of-3-x.17667469 ANNUAL UK inflation tumbled even more sharply than expected in April – falling to a two-year low of 3% from 3.5% in March and helping open the door to further monetary stimulus to help the struggling economy. Removal of tax loophole hits sales at Flying Brands http://www.heraldscotland.com/business/company-news/removal-of-tax-loophole-hits-sales-at-flying-brands.17665942 SALES at Flying Brands plummeted 35% in the first three months of the year as it was hit by the removal of a tax loophole. Scots firms report best trading in UK http://www.heraldscotland.com/business/markets-economy/scots-firms-report-best-trading-in-uk.17665982 Businesses in Scotland have seen a greater improvement in trading conditions over the past 12 months than elsewhere in the UK, according to a quarterly economic study from invoice finance provider Bibby Financial Services. Lees Foods directors' buy-out bid approved http://www.heraldscotland.com/business/company-news/lees-foods-directors-buy-out-bid-approved.17665899 THE directors of Lees Foods have won shareholder approval for their controversial buy-out bid for the company, although a sizeable minority of shareholders opposed their attempt to take the confectionery maker off the stock market. Oil and gas enthusiasm http://www.heraldscotland.com/business/company-news/oil-and-gas-enthusiasm.17665976 OIL and gas companies have underlined their enthusiasm for the North Sea by submitting a record number of bids for exploration licences. Scotgold granted licence for Cononish http://www.heraldscotland.com/business/company-news/scotgold-granted-licence-for-cononish.17665986 SCOTGOLD Resources' mining lease for Cononish mine, near Tyndrum in Argyll, has been granted unconditionally by the Crown Estate and it remains on track to produce gold by late 2013, the company said. Management team buys roofing unit from UBC http://www.heraldscotland.com/business/company-news/management-team-buys-roofing-unit-from-ubc.17667465 THE management team from Wyvis Roofing have saved 30 jobs from the collapsed UBC construction group of companies. Herald View http://www.heraldscotland.com/business/company-news/herald-view.17670912 IT was always going to be difficult for Marc Bolland to follow in the footsteps of Sir Stuart Rose. Atos wins Historic IT deal http://www.heraldscotland.com/business/company-news/atos-wins-historic-it-deal.17665950 ATOS has won a contract to provide IT services to Historic Scotland in a deal which industry sources suggested would be worth around seven figures. Anderson looks for growth in hi-tech advances http://www.heraldscotland.com/business/markets-economy/anderson-looks-for-growth-in-hi-tech-advances.17657583 JAMES Anderson, who runs the £2.4 billion Scottish Mortgage Investment Trust, has declared he and his team have "little confidence" in companies' quarterly earnings figures and "none in the views of investment banks". Renewables in uphill fight to compete http://www.heraldscotland.com/business/markets-economy/renewables-in-uphill-fight-to-compete.17600212 THE offshore wind energy industry has to develop vast so-called "mega-projects" and co-operate to improve the supply chain if it is to cut costs sufficiently to compete with other large-scale power generation sources, according to management consultancy Accenture. 'Disappointing' take-up of larger industrial properties in Scotland http://www.heraldscotland.com/business/markets-economy/disappointing-take-up-of-larger-industrial-properties-in-scotland.17660381 TAKE-up of larger industrial properties in Scotland fell sharply in the first quarter, a survey from property adviser DTZ reveals. Turbines subject to postcode lottery http://www.heraldscotland.com/business/markets-economy/turbines-subject-to-postcode-lottery.17600511 A prominent law firm has warned that the Scottish Government's efforts to encourage investment in the renewable energy industry are being undermined because developers face a postcode lottery when it comes to getting approval for schemes from local authorities. FTSE up as no euro news is good news http://www.heraldscotland.com/business/markets-economy/ftse-up-as-no-euro-news-is-good-news.17660584 Investors paused for breath yesterday after the almost relentless sell-off that knocked £80 billion from London's leading shares last week. Irn-Bru sales increase as rivals' sales go flat http://www.heraldscotland.com/business/company-news/irn-bru-sales-increase-as-rivals-sales-go-flat.17657575 THE chief executive of AG Barr is hoping for a warm summer even though the company is managing to outperform the soft drinks market. Ryanair warns Edinburgh Airport over landing fees http://www.heraldscotland.com/business/company-news/ryanair-warns-edinburgh-airport-over-landing-fees.17600583 Ryanair said yesterday that if Edinburgh Airport's new owners fail to stop the airline's planned withdrawal of eight routes in October, some of the business may be switched to Prestwick. Archangels agrees to sell biotech firm Vitrology to SGS http://www.heraldscotland.com/business/company-news/archangels-agrees-to-sell-biotech-firm-vitrology-to-sgs.17600585 Archangels, Scotland's biggest private investor group, has accepted an offer from Swiss group SGS for the sale of Vitrology, the Glasgow-based biotechnology venture. Millstream wins £5m deal http://www.heraldscotland.com/business/company-news/millstream-wins-5m-deal.17659890 MILLSTREAM has been reappointed to run Norway's national procurement database in a deal worth £4.8 million. Graham in £16.6m Sanctuary Housing contract http://www.heraldscotland.com/business/company-news/graham-in-166m-sanctuary-housing-contract.17660274 GRAHAM Construction has won a £16.6 million contract from Sanctuary Scotland Housing Association to build 198 new homes across Scotland. Demand for retail space is robust, says British Land http://www.heraldscotland.com/business/company-news/demand-for-retail-space-is-robust-says-british-land.17659954 British Land, which has a portfolio including the Fort shopping centre in Glasgow and Fort Kinnaird in Edinburgh, yesterday said demand for its retail space remained robust despite faltering consumer confidence. Atlantic secures £12m of contracts in the North Sea http://www.heraldscotland.com/business/company-news/atlantic-secures-12m-of-contracts-in-the-north-sea.17660232 STANDBY vessel operator Atlantic Offshore Rescue has won £12 million of contracts in the North Sea. Bid for more transparency on funds will reduce costs http://www.heraldscotland.com/business/personal-finance/bid-for-more-transparency-on-funds-will-reduce-costs.17599837 Investors are driving a new transparency in fund management which should see costs coming down and poor-value funds disappearing. Bank chief: We want to lend more to companies http://www.heraldscotland.com/business/people/bank-chief-we-want-to-lend-more-to-companies.17605162 ROYAL Bank of Scotland's head of corporate banking says he wants to expand his balance sheet by lending to companies capable of paying him back. Claim tax bills wiped out by clever advice http://www.heraldscotland.com/business/personal-finance/claim-tax-bills-wiped-out-by-clever-advice.17599858 The chancellor may be on the warpath, but business owners can still wipe out their tax bill using clever advice, according to the sponsors of a seminar in Edinburgh this week. Lifelong passion for film put video company in the picture http://www.heraldscotland.com/business/people/lifelong-passion-for-film-put-video-company-in-the-picture.17599898 IN this week's SME Focus an enterprising young film-lover explains how he has developed a business out of his passion for the medium after following an extremely unconventional route into the industry. SDI says it helped provide 7000 jobs http://www.heraldscotland.com/business/markets-economy/sdi-says-it-helped-provide-7000-jobs.17600197 Scottish Development International estimates its trade and investment activity created or safeguarded more than 7000 jobs over the past year as it helped companies including turbine manufacturer Gamesa and pharmaceutical company GlaxoSmithKline expand in Scotland. Top posts filled from outside Scotland http://www.heraldscotland.com/business/markets-economy/top-posts-filled-from-outside-scotland.17600209 MORE than a quarter of Scottish financial services jobs paying over £50,000 a year went to candidates from outside Scotland, research revealed, as separate figures showed a pick-up in employment north of the Border. Punch plan for £2.3bn debt burden http://www.heraldscotland.com/business/company-news/punch-plan-for-23bn-debt-burden.17600260 Punch Taverns, Scotland's biggest pub landlord is reported to be considering a debt-for-equity swap that could see its lenders take a controlling stake.