NatWest Group has this week warned of a “very uncertain” outlook for the economy as it ramped up provisions for bad debts spiralling amid the fall-out from coronavirus, plunging it to a first-half loss.
The former Royal Bank of Scotland, still majority-owned by UK taxpayers following its £45.5 billion bailout in 2008, booked a net impairment charge of £2.9bn to reflect the risk posed by the deteriorating economic conditions.
Energy giant Drax this week emphasised it could invest hundreds of millions of pounds in a key renewable energy power station in Scotland with the right official encouragement.
Scotland's first boutique dedicated to luxury watch brand Rolex has opened its doors in Glasgow. https://t.co/yIzKS5L9MY
— HeraldScotland (@heraldscotland) July 28, 2020
Scotland's first boutique dedicated to luxury watch brand Rolex has opened its doors in Glasgow.
Also this week, Irn-Bru maker AG Barr is bringing all of its workers off of furlough, but chief executive Roger White has not ruled out the possibility that some jobs will be lost as a result of the coronavirus pandemic.
📰Irn-Bru’s AG Barr severs furlough support amid 8% decline in sales | Baillie Gifford reveals major HQ move | Wednesday's print edition business lead and link to full business section➡https://t.co/HK0xDihdwA pic.twitter.com/ACrUabgoFZ
— Herald Business (@_HeraldBusiness) July 29, 2020
Also this week, investment giant Baillie Gifford handed a major vote of confidence to the Edinburgh office market by agreeing terms on a giant new home in the city.
Opinion: Scott Wright: Staycation hopes are fading fast for Scotland’s battered tourism industry
Opinion: Brian Donnelly: Commerce veterans taking on SNP mandarins over Covid policy
Opinion: Kristy Dorsey: Time to stop acting like nothing else matters but Covid-19
Opinion: Mark Williamson: Success of Edinburgh-based fintech shows investment in people pays
Monday Interview: Making sure food was on the table amid wave of panic buying
SME Focus: Highland craft brewery eyes growth as pubs reopen after lockdown
And Finally ... Plans for new £6.5m island distillery unveiled
The plans for the distillery site include low carbon technologies in the design, build and distillation process | @BrianDonnellyHT https://t.co/6ThZxELsfB pic.twitter.com/tumMV9J4EV
— Herald Business (@_HeraldBusiness) July 30, 2020
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