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Tuesday, March 10th, 2015

 

Abandoned facility ready to come to life

Ryanair poised for take-off at ghost airport

Budget airline Ryanair has confirmed that it will begin new flights to and from Castellon – the “ghost” airport that has lain disused for four years. Castellón–Costa Azahar was built during Spain’s ill-fated property boom and was one of its most high profile casualties when the economy went bust. Apart from internal charter flights booked by the Barcelona and Villarreal football clubs, the £100 million facilities north of Valencia have stood earily quiet (baggage hall pictured). There had been talk of transforming it into a race track for cars or aRead More


Edinburgh explorer appoints lawyers

Cairn to fight £1 billion ‘unpaid tax’ claim from India

Simon Thomson

Oil explorer Cairn Energy is contesting a $1.6 billion (£1bn) demand issued by the Indian authorities for unpaid tax and has instructed lawyers to protect shareholder interests. The Edinburgh-based firm said in a statement issued after the London market closed that it has “instructed counsel to file a Notice of Dispute under the UK-India Investment Treaty in order to protect its legal position and shareholder interests having today received a draft assessment order from the Indian Income Tax Department”. The draft order addressed to Cairn’s subsidiary, Cairn UK Holdings Limited,Read More


BBC suspends presenter

Top Gear series pulled over claim Clarkson ‘punched’ producer

The suspension of BBC Top Gear presenter Jeremy Clarkson followed a punch aimed at a producer of the show, according to an account of the incident. Earlier the corporation announced that Sunday’s episode had been pulled, but the Radio Times says all three remaining episodes of the series have been withdrawn from the schedules. It is understood the alleged assault on a male producer was only reported to the BBC yesterday and the decision to suspend the controversial presenter was taken early today. The corporation is holding an investigation into the events andRead More


Tue City brief: Greece fears and US rates spook traders

The FTSE100 plunged 173.63 points or 2.5% to close at 6,702.84, a seven week low, and well off its recent peak. Shares fell as worries over Greece resurfaced and the dollar soared on speculation that the Federal Reserve will raise interest rates. The leading index has fallen for the last three sessions since reaching a new record closing high of 6,961.14 last week and now stands at a level not seen 20 January when it settled at 6,620.10. There were also worries about a slowdown in China  which has doneRead More


A touch of Hollywood for Holyrood

Clooney gets starring role at Edinburgh awards

Hollywood star George Clooney will swap the acting stage for a different platform when he addresses 2,000 guests at the third annual Scottish Business Awards. The actor will speak at the £2,000 per table event in Edinburgh on 12 November, though the glamour of the movie world is expected to be pushed firmly backstage in favour of his his interests in humanitarian causes. He has also expressed political ambitions which may become clearer by the time he touches down in Scotland. There is bound to be speculation about whether heRead More


New faces join Ibrox set up

Rangers add to top team as club builds ties with City and fans

Rangers panorama

Rangers’ new board has shown its commitment to build on its ties with the City and its fan base by appointing two non-executive directors. The hiring of John Bennett, 51, the director of European Equities at Henderson Global Investors, puts another key City figure in the boardroom and suggests the club is keen to remain listed and build connections with financial institutions. Chris Graham, 38, of Graham Consulting Solutions has also been hired and the pair will join Paul Murray and John Gilligan who were appointed at last week’s EGM,Read More


Stagecoach has placed the bulk of an £80 million order for 470 buses with Alexander Dennis in Falkirk 


Nasdaq-listed firm acquires consultancy

WoodMac confirms £1.85 billion sale to Verisk

Stephen Halliday

Oil consultancy Wood Mackenzie, based in Edinburgh, has been sold to US data analytics firm Verisk, confirming speculation in Daily Business yesterday. The  £1.85 billion takeover is likely to mean another windfall for the staff, 340 of whom shared £90 million when current owner, San Francisco based private equity firm Hellman & Friedman, acquired the business in July 2012. The announcement ends the prospect of WoodMac joining the stock market in a £2 billion flotation which would have been one of the biggest in Scotland for some time. With offices in Edinburgh, Dubai, Houston,Read More


Firm becomes 3rd biggest operator in UK

Ineos steps up controversial shale gas plans after buying licences

Grangemouth

Grangemouth owner Ineos will become Britain’s third biggest shale gas operator after acquiring the licence around the Fife town and a number of others owned by a company operating in England. The deal will confirm widely held views about the company’s controversial plans for shale and will also reinforce the pressure it is applying on the Scottish planning authorities and government to allow exploration and production to take place. The chemicals company has secured a 50% share of seven licences owned by IGas in the northwest with an option over 20%Read More


Wire drinks to Jura campaign after 5-way pitch

Wire Media, currently handling the inaugural Edinburgh Fashion Week, has been appointed lead PR and social media agency for Jura whisky following a five-way pitch. The agency, which has offices in Glasgow and London, has been tasked with developing the brand’s new global PR strategy and social media campaign for the UK, and event managing its annual whisky festival, Tastival. Wire will bring Glasgow based digital agency, Bright Signals, on board to create bespoke content for use across the brand’s channels. The appointment comes as Wire celebrates its fifth anniversary this monthRead More