News

US government agency the Federal Deposit Insurance Corporation has named Royal Bank of Scotland and Lloyds in a lawsuit it has filed against some of the UK’s largest banks over manipulation of Libor.

Jon Preshaw Scottish businesses could be sleepwalking towards hefty fines for failing to anticipate the implications of the imminent Criminal Finances Act 2017, which comes into law at the end of September, PwC has warned.

The Crown Office has launched a bid to claw back £160,00 under Proceeds of Crime legislation from a Perthshire potato merchant who conned the taxman out of £160,000 to fund private school fees for his children.

Scotland’s ambitious breweries sector has doubled in size since 2010 – establishing itself as a key contributor to Scotland’s food and drinks industry. New SPICe figures reveal that in 2016 there were 115 breweries and 190 distilleries situated across 21 of Scotland’s 32 local authorities.

Jennifer Innes Brooks Macdonald, the investment manager with over £10.5 billion in funds under management has announced that Jennifer Innes has graduated from the firm’s trainee investment manager scheme to take up her new role in Edinburgh.

Raymond Abbott Scottish Building Society, Scotland’s only independent building society and the UK’s oldest, has appointed former Alliance Trust Equity Partners managing director Raymond Abbott as its new chairman.

Chris Hill Investment firm Hargreaves Lansdown has reported a rise in full-year net profit as it benefited from winning new clients and higher assets under management.

Philip Rodney Scottish law firm Burness Paull has affirmed its focus on building relationships with foreign jurisdictions.

Royal Bank of Scotland is to slash around 900 jobs at its London office over the next three years, according to claims made by a major union.

Shareholder rebellion among FTSE 250 firms has doubled over the course of the last 12 months as pressure intensifies to clamp down on excessive executive pay.

Keith Brown More people in Scotland are in work as the latest jobs figures show an increase in employment to a record high and a fall in inactivity.

Global accountancy giant PwC has been hit with a record £5.1 million fine for “misconduct” while carrying out the audit of RSM Tenon, a professional services firm which later entered administration when acquisitions left it stricken with heavy debts.

John Cullinane The Chartered Institute of Taxation (CIOT) has urged the UK government to act swiftly to turn the proposals in its new paper for a future customs relationship with the EU into agreed measures that will give businesses a long lead-in period before Brexit.

Scottish property investor and developer, Buccleuch Property has sold a 0.57 acre site, the last remaining plot on the City Road site in Newcastle city centre for £1.7 million.

The average price of a home in the UK went up by nearly £2,000 to £223,000 in June, according to official figures from the Office of National Statistics.