COVID-19



Virgin Money allocates £42m for bad loans

Virgin Money, owner of Glasgow-based Clydesdale Bank, has allocated an extra £42 million to cover potential losses from an increase in bad loans as the bank braces for the economic fallout from the coronavirus crisis.

Published 29 July 2020

Scottish retailers lost £2bn during lockdown

Retailers in Scotland lost almost £2 billion in sales during lockdown, according to the latest data from the Scottish Retail Consortium (SRC).

Published 29 July 2020

Barclays takes further financial hit from coronavirus pandemic

Barclays has taken a £1.6 billion hit from the coronavirus pandemic in the second quarter of this year.

Published 29 July 2020

Scotland's GDP fell by 2.5% in first quarter

Scotland’s GDP is confirmed to have fallen by 2.5% during the first quarter of 2020, according to statistics announced today by Scotland's chief statistician.

Published 29 July 2020

AG Barr sees revenues fall 8% amid market volatility

Cumbernauld-based drinks company AG Barr has posted a year-on-year drop in revenues as the coronavirus pandemic continues to wreak havoc on firms across the UK.

Published 28 July 2020

Bank of Scotland: Scottish business confidence remains low

Despite business confidence rising by four points during July to -37%, the overall confidence of firms in Scotland remains low, according to the latest Business Barometer from Bank of Scotland Commercial Banking.

Published 28 July 2020

Nationwide offers fresh round of community grants as financial security dops by 14%

Nationwide is launching a fresh round of community grants to help people stay in their homes through local charities and partnerships as the bank's latest quarterly poll reveals a 14% drop in financial security.

Published 28 July 2020

Starling Bank provides over £31m to Scottish businesses through CBILS loans

Challenger lender Starling Bank has provided £31 million of Coronavirus Business Interruption Loan Scheme (CBILS) funding to Scottish businesses throughout the coronavirus lockdown.

Published 27 July 2020

ABI: Pension savers press pause on withdrawals in lockdown

Pensioners have resisted the temptation to access their pension pots during lockdown, according to new data from the Association of British Insurers (ABI).

Published 27 July 2020

UK economy will not recover until 2024, warns EY Item Club

The UK economy will not get back to pre-pandemic levels for four years according to the EY Item Club.

Published 27 July 2020

£10m funding package for Scottish events sector

A funding package of £10 million has been established by the Scottish Government to help the Scottish events sector recover from the coronavirus pandemic. 

Published 27 July 2020

Scottish Government announces £4m fund for Scottish museums and galleries

A new £4 million funding stream for the independent museums sector to help bolster resilience following the coronavirus pandemic has been announced by culture secretary Fiona Hyslop.

Published 27 July 2020

Begbies Traynor: Scotland’s struggling sectors see further distress despite government support measures

Businesses across almost all sectors in Scotland are experiencing further distress despite the support schemes implemented by the government to help combat the economic impact of the COVID-19 outbreak, according to insolvency firm Begbies Traynor. 

Published 24 July 2020

Almost a third of Scottish SMEs to make COVID-19 business changes permanent

Almost a third of Scottish SMEs intend to make the operational changes implemented during the coronavirus crisis a permanent fixture, according to new research from Santander. 

Published 24 July 2020

Nucleus Financial Group increases assets under administrations despite COVID-19 strain

Edinburgh-based financial services company Nucleus Financial Group has grown its assets under administration (AUA) despite the impact of the coronavirus pandemic on market volatility. 

Published 24 July 2020