Business

Business NewsSynergy Health founder invests £2m in Edinburgh's arc-net

Dr Richard Steeves supports firm's objective to revolutionise food supply chain security using novel technology

Fuel billsNpower facing backlash as it raises gas and electricity prices by 9.8%

The big six supplier said price hikes down to higher wholesale energy costs and delivering on government policies but Ofcom has demanded the company explain its rationale to consumers

North Sea oilPremier Oil agree terms on long-awaited debt refinancing

The London-based explorer, which owns the Solan development west of Shetland and is leading the Catcher Project in the North Sea, was granted a series of one-month deferrals on covenant tests while negotiating a debt restructuring

EnergyAggreko welcomes Argentinian politicians to Dumbarton plant

Delegation from one of the Scottish temporary power supplier's key markets was part of a wider trade mission to the UK hosted by the British group of the Inter-Parliamentary Union

Digital and MediaIT Matters: Cyber security

Writing for Scottish Business Insider, Bill MaGee outlines the battle to beat the lost cyber crime billions

Edinburgh BusinessJohnston Press reports 6% fall in full-year revenue despite Q4 improvements

Publisher said it delivered £25m in cost savings in the 2016 year with further cost reductions to follow in 2017

EconomyComment: Contract Bill will make Scotland an easier place to do business

Grant Campbell, contracts specialist and head of the Commercial Services Division at Brodies LLP

Fuel billsNpower facing backlash as it raises gas and electricity prices by 9.8%

The big six supplier said price hikes down to higher wholesale energy costs and delivering on government policies but Ofcom has demanded the company explain its rationale to consumers

Business News

EdinburghJohn Lewis to close Edinburgh distribution site

The partnership plans to consolidate the work at its warehouse facility in Glasgow, putting 78 jobs at risk.

Law and AccountancyScottish Government launches independent review of legal aid system

Minister for Legal Affairs Annabelle Ewing said the review will assess if the current system is fair and "fit for purpose" in providing legal representation to those who need it.

ConstructionSurvey: Scotland's construction sector 'more optimistic' on year ahead

Latest Rics Construction Market Survey suggests Scottish construction workload growth expectations are regaining "lost ground" post EU vote.

Retail and ConsumerReport: Scottish retail sales growth slower than rest of Britain

Scotland's chief statistician said "people in Scotland spent around the same amount on goods as they did last quarter (after seasonal adjustment), but got fewer goods in return".

easyJeteasyJet hits historic high of 6.4m passengers travelling to and from Scottish airports

The low-cost carrier records 11 per cent year-on-year passenger increase and achieves the highest number of passengers any airline has ever flown through Scotland's airports in a single year.

Company Results & Forecasts

AberdeenAberdeen Asset Management books 15th straight quarter of net outflows

Investors withdrew £10.5bn from the Aberdeen-based fund manager in the three months to December 31, up from £7.2bn the previous quarter.

ConstructionOgilvie Group reports 12% lift in profits in year of 'steady progress'

The Stirling-based company's pre-tax profits reached £4.5m after it expanded its vehicle fleet for contract hire and saw performance improve in its construction arm.

Law and AccountancyBusiness disposals lift First Scottish Group profits

Fife-based corporate search and document management specialist, controlled by Sir Brian Souter, has reported a three-fold hike in pre-tax profits to £5.68m.

Irn-BruAG Barr on track to meet full-year profit guidance

The Cumbernauld-based group said “performance strengthened” in the second half with the launch of Irn-Bru Xtra and Rubicon Spring though revenues are expected to be flat at "around £257m".

Clydesdale BankChallenger bank CYBG 'on track' to meet full-year targets

The bank, which was de-merged from Australian parent National Australia Bank in February 2016, is aiming to deliver cost savings of between £690m and £700m during the 2017 financial year

Property

EdinburghBuccleuch Property acquire two units in Manchester in £4m deal

Division of the Duke of Buccleuch's family business takes over 84,000 sq ft on industrial estate from Standard Life in area due for further enhancement.

MortgagesReport: Gross mortgage lending up 12% in 2016

The Council of Mortgage Lenders estimates the total gross value of mortgage lending last year was £246bn - the highest annual gross lending figure since 2008.

Edinburgh BusinessUniversity of Edinburgh completes £8m deal for former Edinburgh fire service HQ

The building will now undergo a “sympathetic refurbishment, sensitive to its past use and heritage” and will be central to Edinburgh College of Art’s plans to transform the area into a hub for arts and culture

Financial ServicesStandard Life Investments sell Cheltenham office building for £11.07m

Standard Life Investments Property Income Trust has sold the 59,900 sq ft Quadrangle office building which was single let to Royal Bank of Scotland with a lease expiry in June 2018

EdinburghHoliday Inn Express in Edinburgh sold in £17.7m deal

Appointed administrators to Aberdeen hotel group European Development Company have sold the 161-room Edinburgh hotel to International Hotel Properties Ltd

Energy

EnergyPremier Oil set to finalise refinancing terms

The London-based explorer, which is leading the Catcher Project in the North Sea and owns the Solan development west of Shetland, has been granted a series of one-month deferrals on covenant tests while it finalises terms on debt refinancing.

FrackingPublic consultation launched on the future of fracking in Scotland

The Scottish Government is seeking views on unconventional oil and gas extraction before deciding towards the end of the year whether to lift its moratorium on fracking

North Sea oilShell offloads parcel of North Sea assets in £3bn deal

The sale includes interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine - plus a 10% stake in Schiehallion

EnergyWood Group wins five-year operations and maintenance contract in Malaysia

The contract with Hess, which includes a one-year extension option, covers support for new-build fixed and floating offshore facilities in the North Malay Basin development

Scottish GovernmentScottish Government sets out 50% renewable energy target

Energy minister Paul Wheelhouse said the draft Scottish Energy Strategy sets out “a modern, integrated energy system that delivers reliable, low carbon energy at affordable prices to consumers in all parts of Scotland” by 2050

Science & Technology

Science & TechnologyScotland's life science leaders aim to double industry turnover to £8bn

The 2017 Life Sciences Strategy for Scotland will formally launch tonight with an ambitious plan to increase turnover to £8bn by 2025 by capitalising on emerging global trends such as the rise of digital healthcare.

Science & TechnologyTech firm Incremental Group to add 48 jobs in Glasgow

Glasgow-based group has secured a £500,000 Regional Selective Assistance grant from Scottish Enterprise as it aims to grow headcount to 180 within three years.

Life SciencesTC BioPharm raises £6.25m to advance innovative cancer treatments

The Motherwell-based group said the bulk of the funding will go towards phase III multinational clinical studies for ImmuniCell in the UK, European Union and United States on patients with skin, lung and kidney cancer

DundeeLinda Leuchars appointed chief executive of Dundee Science Centre

Leuchars has been the centre's interim chief executive since March 2015 when she stepped in to replace Louise Smith.

Life SciencesOmega Diagnostics' Allersys licensor to pursue 'enlarged distribution relationship'

Immunodiagnostic Systems Holdings made approach last November to change the nature of the commercial relationship with Omega, including a potential acquisition of all or part of its Allergy Business

Professionals

WhiskyWhisky legend Jim McEwan tempted out of retirement by new Islay distillery

Former Bruichladdich master distiller will head up production at Ardnahoe, where he will play a pivotal role in designing and kitting out the distillery for the Laing family.

WhiskyCrawford Gillies joins Edrington Group board as a non-executive director

Mr Gillies, a former chair of Scottish Enterprise and the Confederation of British Industry (CBI), is currently a non-executive director of SSE and Barclays Bank - where he also chairs the remuneration committee.

AberdeenShepherd Chartered Surveyors promote two to partner

Moving up to partner are Stuart Dunne in the Aberdeen office and Andrew Sykes, who is based in the Peterhead office.

Law and AccountancyBrodies add three new partners

Joining the firm are trust and tax specialist Heather Thompson, infrastructure finance specialist Drysdale Graham and property finance specialist Chris Dun

Law and AccountancyBrodies awarded gold ranking in 2017 World Trademark Review

The firm is once again the only Scottish law firm listed in the gold category

EdinburghJohn Lewis to close Edinburgh distribution site

The partnership plans to consolidate the work at its warehouse facility in Glasgow, putting 78 jobs at risk.

WhiskyFormer North British Distillery boss to join Simpsons Malt board

David Rae, who retired from North British Distillery last year, will replace former Edrington Group chairman Sir Ian Good on the Simpsons Malt board as a non-executive director

North Sea oilSabre Safety calls in administrators with the loss of 30 jobs

The Cupar-based company, a specialist in offshore and onshore Hydrogen Sulfide (H2S) safety and protection, is reported to have incurred “significant losses” in the 2016 financial year as a result of the wider downturn in the oil and gas sector.

Glasgow AirportRyanair adds two new international flights from Glasgow to winter 2017 schedule

The airline will fly twice weekly to the Polish city Krakow and four times weekly to the Spanish capital Madrid, beginning October 2017.

Science & TechnologyTech firm Incremental Group to add 48 jobs in Glasgow

Glasgow-based group has secured a £500,000 Regional Selective Assistance grant from Scottish Enterprise as it aims to grow headcount to 180 within three years.

Business NewsSynergy Health founder invests £2m in Edinburgh's arc-net

Dr Richard Steeves supports firm's objective to revolutionise food supply chain security using novel technology

Fuel billsNpower facing backlash as it raises gas and electricity prices by 9.8%

The big six supplier said price hikes down to higher wholesale energy costs and delivering on government policies but Ofcom has demanded the company explain its rationale to consumers

North Sea oilPremier Oil agree terms on long-awaited debt refinancing

EnergyAggreko welcomes Argentinian politicians to Dumbarton plant

Delegation from one of the Scottish temporary power supplier's key markets was part of a wider trade mission to the UK hosted by the British group of the Inter-Parliamentary Union

Digital and MediaIT Matters: Cyber security

Writing for Scottish Business Insider, Bill MaGee outlines the battle to beat the lost cyber crime billions

TV & Radio NewsRevealed: The hidden Netflix codes that unlock the full list of films and TV shows

The codes open up a whole new world of documentaries and films from dozens of different genres on the popular entertainment platform

UK & WorldDad dies two days after getting 'tiny' cut on his hand at TK Maxx warehouse

His heartbroken parents said the cut hadn't initially bothered their son, who was so well-built his friends called him 'the big man' and 'gentle giant'.

UK & WorldMaths teacher avoids jail after having sex with teenage pupil on trip abroad with his family

Haeli Wey, 29, went on to have sex with a second student after going on a hike with him on a secluded trail

UK & WorldSee the amazing pub abandoned for 22 years and found hidden underneath shopping centre

The Green Man's bar and benches are still intact, along with giant murals depicting scenes of castles and knights

Rangers FCRangers boss Mark Warburton left angry with missed chances in draw with Ross County

The Ibrox boss bemoaned the host of opportunities that went begging in the second half but had no issues with a chorus of boos which greeted his side at the end of the first half and at full time.

West LothianWest Lothian darts roundup

Aitken and Fleming retain West Calder trophy

The VoiceScottish duo Bosie get a roaring reception on The Voice as they sail through blind auditions

The boy/girl group sent Twitter into meltdown after their explosive performance which got them snapped up by Scottish-born judge Gavin Rossdale.

Oliver BurkeOliver Burke sets sights on Scotland return after impressing for title-challengers RB Leipzig in crunch Borussia Dortmund clash

The Kirkcaldy teenager, who was involved in Leipzig's dramatic injury-time goal which was ruled off for offside, says he's "proud" to wear the dark blue of Scotland.

TwitterTeenager impales foot on phone charger and takes snap before calling for help

Julia Pechar, 18, was rushing out of her messy room when she accidentally trod on the device.

Rangers FCRangers boss Mark Warburton left angry with missed chances in draw with Ross County

The Ibrox boss bemoaned the host of opportunities that went begging in the second half but had no issues with a chorus of boos which greeted his side at the end of the first half and at full time.