Business news


 SSE to pay £9.8m penalty for licence breach

SSE to pay £9.8m penalty for licence breach

June 06, 2023 07:02 AM AEST | By PAMEDIA

Ofgem said SSE’s generation arm overcharged the electricity system operator to lower output from the Foyers pumped storage power station in Scotland.

 UK ministers knock back call to include glass in Scottish deposit return scheme

UK ministers knock back call to include glass in Scottish deposit re...

June 05, 2023 08:59 PM AEST | By PAMEDIA

UK ministers have knocked back demands for glass to be included in Scotland’s deposit return scheme.

 Saudi Arabia cuts oil output by a million barrels a day to boost sagging prices

Saudi Arabia cuts oil output by a million barrels a day to boost sag...

June 04, 2023 05:17 PM AEST | By PAMEDIA

The announcement came on Sunday after a meeting of the alliance at OPEC headquarters in Vienna.

 Opec+ producers consider more oil production cuts as prices slump

Opec+ producers consider more oil production cuts as prices slump

June 04, 2023 07:43 AM AEST | By PAMEDIA

The 23-member group is meeting at Opec headquarters in Vienna after sending mixed signals about possible moves.

 Opec+ producers consider more oil cuts as prices slump

Opec+ producers consider more oil cuts as prices slump

June 04, 2023 07:43 AM AEST | By PAMEDIA

The 23-member group is meeting at Opec headquarters in Vienna after sending mixed signals about possible moves.

 Barclays, Lloyds, Halifax and Bank of Scotland announce 63 branch closures

Barclays, Lloyds, Halifax and Bank of Scotland announce 63 branch cl...

June 02, 2023 01:33 PM AEST | By PAMEDIA

More and more customers are switching to online banking, reducing the need for branches to remain open

 Europe sees inflation drop to 6.1% but real relief for consumers will take time

Europe sees inflation drop to 6.1% but real relief for consumers wil...

June 01, 2023 09:23 AM AEST | By PAMEDIA

It is a welcome sign the explosion in price increases — which peaked in record double digits last October — is heading in the right direction.

 Most and least expensive cities for first-time buyers revealed

Most and least expensive cities for first-time buyers revealed

May 31, 2023 11:33 AM AEST | By PAMEDIA

Rightmove analysed 60 major urban locations across Britain to make the findings.

 Credit Suisse owes millions to Georgia’s ex-prime minister, court says

Credit Suisse owes millions to Georgia’s ex-prime minister, court sa...

May 26, 2023 03:22 PM AEST | By PAMEDIA

It is the latest scandal for the Swiss bank whose yearslong problems forced its takeover by a rival.

 SSE announces plans to invest billions as operating profit rises

SSE announces plans to invest billions as operating profit rises

May 24, 2023 02:50 PM AEST | By PAMEDIA

The FTSE 100 firm’s operating profit climbed to £2.53 billion and it announced plans that could see it invest up to £40 billion over the next decade.

 Fashion tycoon named richest person in Scotland for second year running

Fashion tycoon named richest person in Scotland for second year runn...

May 19, 2023 06:00 AM AEST | By PAMEDIA

Billionaire Anders Holch Povlsen has been named as the richest man in Scotland for the second year running, the Sunday Times Rich List revealed.

 Slender uptick for Scottish retail sales as inflation eats away at growth

Slender uptick for Scottish retail sales as inflation eats away at g...

May 16, 2023 03:42 PM AEST | By PAMEDIA

In April, sales north of the border went up by just 0.3% last month once inflation was taken into account, the Scottish Retail Consortium said.

 Ayrshire firm fined £75,000 in Scottish first

Ayrshire firm fined £75,000 in Scottish first

May 16, 2023 12:15 PM AEST | By PAMEDIA

Gas leaked out of four water chillers, according to environmental body Sepa.

 European growth forecast raised to 1.1% after winter recession avoided

European growth forecast raised to 1.1% after winter recession avoid...

May 15, 2023 09:12 AM AEST | By PAMEDIA

Europe had faced expectations of a winter energy catastrophe after Russia cut off most supplies of natural gas to the continent.

 John Wood Group suitor drops £1.7bn takeover plans

John Wood Group suitor drops £1.7bn takeover plans

May 15, 2023 06:47 AM AEST | By PAMEDIA

US firm Apollo Management said it would not be making an offer for Aberdeen-based Wood Group, just two days before the deal deadline.

 G7 finance leaders vow to contain inflation as talks in Japan wrap up

G7 finance leaders vow to contain inflation as talks in Japan wrap u...

May 13, 2023 04:58 AM AEST | By PAMEDIA

The finance leaders’ talks laid the groundwork for a summit of G7 leaders in Hiroshima next week.

 G7 talks focus on ways to fortify banks as China accuses group of hypocrisy

G7 talks focus on ways to fortify banks as China accuses group of hy...

May 12, 2023 09:08 AM AEST | By PAMEDIA

Tensions with China and Russia’s invasion of Ukraine loomed large over talks in Niigata.

 Yellen warns US default would be ‘a catastrophe’ as G7 finance ministers meet

Yellen warns US default would be ‘a catastrophe’ as G7 finance minis...

May 11, 2023 07:01 AM AEST | By PAMEDIA

The impasse over spending risks leaving the US government unable to pay for teachers and medical care for veterans.

 Construction begins on ‘carbon neutral’ Sutherland Spaceport

Construction begins on ‘carbon neutral’ Sutherland Spaceport

May 04, 2023 03:46 PM AEST | By PAMEDIA

Sutherland Spaceport will be home to the rocket company Orbex.

 European Central Bank announces quarter-point rise in interest rates

European Central Bank announces quarter-point rise in interest rates

May 04, 2023 12:32 PM AEST | By PAMEDIA

The decision comes a day after the US Federal Reserve also approved a quarter-point increase.

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