News

Alistair Greig, the financial services chief behind a £13 million Ponzi scheme, is facing jail time for the scam. The fraud saw 165 victims of the scheme convinced to place their money in “guaranteed” high-interest accounts which cost many victims their life savings.

Accountancy firm EY has appointed Hywel Ball as its UK & Ireland managing partner and chairman as it prepares for its audit and consultancy divisions to be divided.  EY offered the job to Mr Ball after a leadership content where he beat Lynn Rattigan, EY’s current UK chief operating o

Edinburgh-based investment manager Cameron Hume Ltd has announced two senior appointments, with Brian Jack taking up the role as head of money markets and Andy Kelly joining the team as business development manager. By hiring Mr Jack, the company is expanding its offering to clients b

Aberdeen Smaller Companies Income Trust Plc, a fund managed by Aberdeen Standard Investments, has posted strong full-year results for 2019 with the company’s net asset value having increased by 34.3%. The trust’s share price total return also stood at 578%, this compares with a total ret

Chartered accountants Wylie & Bisset has said that Rishi Sunak’s maiden Budget speech still leaves many Scots facing the impact of the widening income tax gap. The coronavirus was naturally the focus of much of the Budget, with significant funding pledges for those affected by th

Blairgowrie-based Pet wellness brand Bella & Duke (B&D) has raised £3.5 million in its latest funding round. The fresh investment will be used to help the firm expand into the cat food market and to grow B&D’s sales, marketing and recruitment activities as it continues t

Wednesday’s Budget announced that the income thresholds for calculating the tapered Annual Allowance will increase by £90,000 from 6 April 2020, a move which was broadly welcomed by General Practitioners and members of the NHS Pension Scheme. From 6 April 2020, only those with a total ta

Edinburgh-based science investment company Frontier IP has announced that one of the companies in its portfolio – The Vaccine Group has started work on a COVID-19 vaccine. The Vaccine Group completed a £680,000 equity fundraiser in January 2020 that valued TVG at £9.

Betway has been ordered to pay an £11.6 million fine by The Gambling Commission for failing to ensure that money deposited by gamblers was not obtained through criminal activity.

Smart Metering Systems plc (SMS) has conditionally sold a minority of the group’s meter assets to funds managed by Equitix Investment Management Limited for a total gross cash consideration of £291 million. The group expects to receive net cash consideration of £282m, aft

Fund managers MDP Capital LLP have moved into Glasgow’s 310 St Vicent Street office building. MDP Capital has acquired the eighth floor of the building, which measures at3,800 sq. ft.

Finance secretary Kate Forbes has said that rapid joint engagement is needed on funding for the COVID-19 response in Scotland following the UK Government's budget. Responding to the UK budget announcement, Ms Forbes said: "While I’m pleased to see the UK Government’s economic response to

Maryculter House, a historic Aberdeenshire hotel, has announced a major refurbishment plan for 2020 with a six-figure investment to support its growth. Maryculter House on South Deeside Road will see all its 40 bedrooms and public areas transformed as part of this significant project which will be c

Assetz Capital has secured funding from British Business Investments (BBI), a commercial subsidiary of the British Business Bank, to help boost UK house building projects. The £15m commitment from British Business Investments will support in excess of £100m of new lending to smaller busi

A businessman who bought a dead man’s membership card for Lord’s Cricket Ground has been fined £10,000.