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Thursday, May 14th, 2015


Business Comment: Terry Murden

No, Katherine, sex is irrelevant in concerns over pay

Bumper pay for executives is rarely out of the headlines, though according to Katherine Garrett-cox, it becomes more of an issue when it concerns women. The Alliance Trust chief executive has been speaking about the criticism she received in recent weeks over her remuneration, claiming that it would not have attracted the same level of attention if she had been a man. Is she right? By a strange twist, her comments coincided with a vote on the pay and bonus package awarded to Lloyds Banking Group CEO Antonio Horta-Osorio. His £11.5m dealRead More

Andy Murray has pulled out of the Italian Open because of fatigue

Club scores a loss

European absence hits Man U figures

Manchester United slumped to a loss in the last quarter as the club paid the price for the absence of top level European competition. It suffered a loss of £2.9m against an £11m profit for the corresponding period a year earlier. Adjusted ebitda came in at £25.4m. Broadcasting revenue was £21.7m, a decrease of £13.9m, or 39%, over the prior year quarter, primarily due to five fewer Premier League live broadcast games and two fewer home games in the current quarter, and non-participation in the UEFA Champions League. Matchday revenue forRead More

Proposal for bottles and cans

Deposit charge plan to encourage recycling

Irn-Bru Commonwealth

Consumers could be encouraged to help raise Scotland’s recycling efforts through refundable cash deposits on drinks cans and bottles. National deposit return systems already operate in many countries, as a measure to improve recycling and cut litter. Customers pay a small cash deposit when they buy a drink in a can or bottle, and get the money back when they return the item to a collection point. The items can then be recycled into new containers or other packaging. Zero Waste Scotland has conducted research on the benefits and challenges of aRead More

Entrepreneur says: 'work together'

Scottish technology pioneers urged to collaborate

A seasoned Silicon Valley entrepreneur will today urge technology pioneers in Scotland to collaborate to help each grow. Heidi Roizen, a former colleague of Steve Jobs and Bill Gates, says the Scottish technology scene is “really exciting” on the back of success stories such as Skyscanner and FanDuel. But what is now required is that entrepreneurs and founders pull together and to help each other out. “So we need the likes of Gareth Williams and Nigel Eccles to not only put personal wealth back into the startup sector, but to provide their experienceRead More

Pledge to customers and shareholders

Lloyds chairman: ‘pay will reflect performance of the bank’

Lloyds Bank chairman Lord Blackwell today made a commitment to linking pay with performance. He told shareholders that total bonus payments last year fell 3.6% despite an improvement in the bank’s trading position. “We believe our remuneration policy should support the delivery of strong, sustainable grwoth aligned to both customer and shareholder interests,” he said at the meeting in Edinburgh. “It also means holding back when management have failed,” he said. Lord Blackwell said 2014 had been “a year of real progress”. The bank intends to pay an interim andRead More

Scots engineer ties-up deal

Exova expands globally with £22m acquisition


Testing and calibration firm Exova Group, based in Edinburgh, has acquired BM Trada, the international provider of certification schemes and building products testing services, in a £22 million deal. The acquisition adds about 340 staff operating in 16 countries, bringing Exova’s network of specialists worldwide to more than 4,400 and taking it into a further eight countries. BM Trada, based in High Wycombe Buckinghamshire, generates revenues in excess of £20m and the two companies have complementary offerings through internationally-recognised certification schemes, all of which will be retained. John Willox, managing directorRead More

Line will put pressure on airlines

T&T secures work on Asia high speed rail project

Project manager and consultancy Turner & Townsend, which worked on the Edinburgh Tram, has been contracted to work on the 350 kilometres (217 miles) high speed rail line linking Singapore to Kuala Lumpur. It will operate as a sub-consultant to KPMG after producing a cost model for the economic assessment of the project. Turner & Townsend’s appointment follows its success with other global rail projects including London Crossrail, Qatar Rail and the Northwest Rail Link in Australia. The proposed High Speed Rail link will link Singapore and Kuala Lumpur in oneRead More

Recapitalisation for fund

University backs start-ups with £6m capital

Pure li-fi

Edinburgh university is backing its spin-outs with a £6m recapitalisation of its in-house venture capital fund Old College Capital. The new capital will take the size of the four-year-old fund to £8m which is used to leverage private sector support from investors interested in high-growth businesses. It invests an average of £250,000 in each company, and adopts a ‘co-investment model’, working alongside venture capitalists, angel groups and corporate investors. OCC has an independent investment committee and operates on a fully commercial basis. Hamish Mair, chairman of OCC’s investment committee, said: “External investors haveRead More

Thur close: Sentiment rises on US job figures

London stocks dipped in early trade as investors chose to cash in on the recent record run and take some profit. However, they rallied into the close as improving labour-market data from the States lifted sentiment. Wall Street indices opened higher following a Labor Department report which showed that US jobless claims unexpectedly declined last week. The FTSE 100 finished the session up 23.41 points (+0.34%) at 6,973.04, well above the intraday low of 6,884.63 reached early on. There were also some jitters early on around the higher euro and aRead More