News

Merrill Lynch International (MLI) has been fined £13,285,900 by the Financial Conduct Authority (FCA) for incorrectly reporting more than 35 million transactions and failing to report another 120,000 transactions between November 2007 and November 2014. The FCA said the size of the fine – the hig

An employee at a Glasgow law firm has admitted to embezzling £180,000 from her employers. Teresa Kidd, 44, a purchase ledger at Maclay Murray and Spens LLP (MMS) took thousands from her employers between October 2006 and November 2011.

Edinburgh-based Tesco Bank has seen pre-tax profits rise by 10 per cent to £168m and its customer base grow to 7.4 million over the past financial year. The challenger bank division of supermarket giant Tesco Group said profits were impacted by costs incurred on its expansion into mortgages and cur

Susie Swift Accountants Saffery Champness are advising those who let rural houses and holiday property to take the opportunity to place their tax affairs in order as HMRC launches its latest Let Property campaign.

Ian Williams Credit card companies are giving Scottish customers more credit, even though they haven’t asked for it, research from debt advice and solutions provider Debt Advisory Centre Scotland has revealed.

Scottish property prices, driven by high-end buyers scrambling to complete purchases before the introduction of new Holyrood tax rates, rose at their fastest rate in February for eight years, according to latest figures. The Your Move/acadata Index found that the average house price north of the Bor

Bryan Jackson The number of Scots going bust in the first quarter of 2015 fell by 2.4 per cent compared with the last quarter of 2014 and by 15.2 per cent year-on-year, according to latest figures.

David McCorquodale This year's early Easter helped boost retail March sales in Scotland in real terms when adjusted for deflation.

Sean McGuire Old Mutual Wealth has appointed ex-Standard Life bosses Russell Bignall and Sean Mcguire to its newly-created business development director positions.

Female workers at a council are due backdated pay of up to six figures stemming from an equal pay dispute going back over 10 years, it has been ruled. Judges have given North Lanarkshire Council a month to settle the dispute over payment.

Oil and gas services company Petrofac has issued a further profit warning of about £130 million on its Laggan-Tormore gas plant project on Shetland. The group, which took on full construction responsibility for the project after some of its sub-contractors “failed to deliver in line with their ag

Controversial payday lender Wonga has reported a pre-tax loss for last year of £37.3m. The news comes amid a major overhaul of the controversial company a major customer compensation scheme.

Douglas Flint HSBC, the UK’s biggest bank, is considering moving its headquarters overseas to avoid the effects of changes to UK banking regulations, according to its Scottish-born chairman.

Elliott Advisors has taken up its turn to respond in the saga running up to next week’s Alliance Trust annual meeting when it hopes to install a trio of new board members at the Dundee-based investor. The latest twist in the long-running spat saw the US hedge fund reveal that it rejected a bid fro

Margaret Gibson The chief executive of Women's Enterprise Scotland has become the first Scottish woman to win the Queen's Award for Enterprise Promotion after being recognised for spending more than 20 years mentoring young people across Scotland.