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Tuesday, July 14th, 2015


As I See It

Western brands will be among the winners in Iran


An opportunity for Europe They poured on to the streets of Tehran, joyous at being allowed back into the global family of nations. The young in particular expressed their excitement. Many have lived and worked in the west and believe the agreement reached on their country’s nuclear ambitions will at last lift the suffocating tyranny of sanctions that has hung over them for more years than they care to count. In Austria on Tuesday, a deal was finally rubber-stamped that halts Iran’s atomic bomb-building programme and allows it to tradeRead More

Contactless payment

Apple Pay gets off to smooth start

Contactless payment took another stride forward with the launch of Apple Pay which allows customers to pay for goods and services via a smartphone without tapping in any details of the transaction. The iPhone can already store all loyalty cards and boarding passes, and with Apple Pay, it will house credit and debit card details. Currently the service only operates via the iPhone 6 and iPhone 6 Plus, though the Apple Watch can be used for payment even if connected to an iPhone 5, iPhone 5s or iPhone 5c. The systemRead More

Greek PM Alexis Tsipras says he does not believe in the debt deal he signed, but takes responsibility for it

Football reporter leaves corporation

Spence confirms rumours and leaves BBC Sport

Jim Spence

Jim Spence, one of the familiar and more outspoken members of the BBC Radio Scotland Sport team, is hanging up his microphone and leaving the corporation to go freelance. Spence has reported for the station for nearly two decades and will sign off on Friday. He finally confirmed rumours on social media about his departure as followers noticed he had removed references to the BBC from his Twitter account handle which became JimSpenceSport. He joked with those who contacted him that he was planning to “get re-acquainted with running shoes, Guinness, wife”Read More

Mixed data messages dampen expectations

Tue close: Stocks rose after weaker than expected US data led traders to believe an early interest rate hike in the US may be less likely. However, warnings of a rise at home dampened enthusiasm. The FTSE 100 ended the session up by 15.80 points at 6,753.75 as comments from Bank of England Governor Mark Carney led to a spike in the pound and in longer-term Gilt yields. Testifying to the newly-composed Treasury Select Committee Mr Carney said that, “the point at which interest rates may begin to rise is moving closer givenRead More

FM takes a dig at Tory record

Sturgeon goes on attack by declaring Scotland ‘pro-business’

First Minister Nicola Sturgeon today raised the stakes with Westminster by declaring Scotland to be “the most pro-business government in the UK”. In an address in London she pointed to the record level of inward investment and the partnership that had been developed with the business community and other stakeholders. She used the opportunity to have a dig at the ruling Conservative party by declaring her government pro-Europe and stating the SNP’s achievements in raising productivity, an issue that both Prime Minister David Cameron and Chancellor George Osborne see as aRead More

Former MP gets key role

Ex-shadow pensions minister joins Aberdeen Asset Management

Greg McClymont

Former Labour shadow pensions minister Gregg McClymont has joined Aberdeen Asset Management as head of retirement savings. Mr McClymont, who lost his Cumbernauld, Kilsyth and Kirkintilloch East seat in the rout of Labour in May’s General Election, will take on the role with immediate effect. He will be responsible for Aberdeen’s defined contribution pensions strategy, research and implementation with a focus on the 2014 Budget pension freedoms. “I am delighted to be joining Aberdeen at such a crucial time for the UK pensions market,” he said. “The ending of compulsoryRead More

Games company in growth mode

FanDuel raises £176.5m in latest expansion move

Fantasy sports firm FanDuel, based in Edinburgh’s Quartermile, has raised $275 million (£176.5m) from a consortium of investors including private equity firm KKR, Google Capital and Time Warner Investments. The technology firm, whose client base is almost entirely in North America, will use the new finance to build customers and develop new products. This latest funding brings total funding raised to $363m and confirms its stats as a $1 billion ‘unicorn’ company. Existing investors Shamrock Capital, NBC Sports Ventures, Comcast Ventures, Bullpen Capital, Pentech Ventures and Piton Capital also participated in theRead More

No buyers for Borders business

Moorbrook Textiles to close Peebles mill with 87 likely job losses

Moorbrook Noble

Moorbrook Textiles, whose brands include Replin Fabrics and Robert Noble, has announced that the group’s mill in Peebles is to close. The company revealed in May that it was seeking a buyer for the mill and had begun a 30-day consultation period with its 87 employees. Despite some initial interest from potential buyers, no credible offers for the mill have been received and the management team said closure was the only option. Ian Laird, managing director of Moorbrook Textiles, said: “Over recent weeks we have had discussions with a number of groupsRead More

Brewer unveils recruits

Innis & Gunn confirms new team for global push

Dougal Sharp

Craft brewer Innis & Gunn has confirmed its new PR, sales and marketing team to support the business’s growth plans and expansion overseas. As previously reported here in Daily Business, Steph Middleton has left her consultancy role with the Edinburgh brewer after seven years to focus on her own business. The new senior team line up incorporates global marketing, PR, sales and operations roles. Peter Mooney – Global Head of Marketing (far left) Mr Mooney has worked in the drinks industry for more than 20 years with blue chip companies including Coca-Cola,Read More