News

The Financial Conduct Authority (FCA) has issued its largest ever retail fine to Edinburgh-based Lloyds Banking Group for failing to treat their customers fairly when handling Payment Protection Insurance (PPI) complaints. The FCA slapped the still partly state-owned lender with a £117 million pena

John Swinney A savings plan announced yesterday by the UK Chancellor will see Scotland face a £176.8 million cut in public spending this year, a move that Scotland's Finance Secretary John Swinney said was an "unexpected and unwarranted" imposition of further austerity that was “completely and ut

New controls over private sector rents would price visitors out of staying in Edinburgh during the festivals, letting agents have claimed. David Alexander, managing director of DJ Alexander, said he fears fewer flats would be available for short-term rent under proposals drawn up by the Scottish Gov

Martin Gill Manufacturing firms reported the biggest decline in optimism this month since March 2013, according to the latest Business Trends Report by accountants BDO in Scotland.

Transformational "mega deals" and ongoing availability of capital have helped boost total UK deal values by almost 100 per cent in the first quarter of 2015, according to the latest PwC Deals Index. Deal volumes have also increased by 50 per cent compared to the same period in 2014, reflecting a res

Architects at Smith Scott Mullan Associates have unveiled plans for a new pier at Portobello Promenade.

Colin Crosby An Aberdeen businessman has been appointed to the board of Thorntons Investment Management.

The High Court The High Court has ruled against Lloyds Banking Group in its bid to save around £1 billion by buying back early bonds issued in the wake of its 2008 bailout.

Consumers across the UK collectively spent more than £19,000 every second using their plastic last year as some 31.6million card payments were made every day, more than double the 15.7million a day in 2004. According to the UK Cards Association, a record £600.3 billion was spent domestically and o

Scottish companies are being offered a unique opportunity to tap into international entrepreneurial expertise and turbo-charge projects ranging from growth strategies to export drives. For the first time, the Saltire Foundation, the entrepreneurial leadership programme and the philanthropic arm of E

The number of properties on the market is at its lowest level for many years, according to the Halifax. The news came as the lender also revealed that UK house prices edged lower in May.

Department store chain John Lewis has ditched accountants PwC. The retail partnership, which owns Waitrose food stores in addition to its John Lewis outlets, has selected KPMG for the role, in line with a newly adopted policy of putting its audit out to tender every five years.

Accountants Baker Tilly have made two senior appointments at their consulting practice in Scotland. George Walker joins the firm’s technology consulting team as associate director while Dougie Graham, also associate director, will be part of the firm’s business consulting team.

Latest research has revealed that the number of female bosses in the asset management industry has not moved over the past year. The number of female fund managers currently stands at just 7 per cent, just as it did in 2014, according to analysis by Tilney Bestinvest.

Nearly four out of 10 UK homes were sold during the first three months of 2015 were bough with cash, according to the UK’s second biggest mortgage lender. The figure for homes bought without a mortgage represents a record high, the Nationwide building society said.