News

RBS: The collapse of the Royal Bank of Scotland’s share price by 66 percent has led to a further value loss of £9 billion to the bank. The collapse of the share price followed the announcements by RBS of a £28 billion loss for 2008, the biggest single…

Scotland will stay in recession for longer than the rest of the UK because of the size of its public sector, Alex Salmond's council of economic advisors has warned. The prediction comes as a new report forecasts that this year the Scottish economy will…

North Sea: a North Sea union leader voiced fears about widespread job cuts in Scotland’s oil and gas industry after Talisman Energy UK Ltd, a major operator, puts its platform drilling operations on hold. (Scotsman page 33)

HBOS: Up to 10,000 staff in Bank of Scotland’s corporate banking division will miss out on tens of millions of pounds in performance related pay outs, as the company is to cut bonuses for the first time in its history. A further comment by Bill Jamieson…

RBS: The Royal Bank of Scotland is raising around £1.6bn by selling its entire holding in Bank of China. (Herald page 28, Guardian page 24, FT page 17, page 18, Times page 43). Economic Confidence: An international poll published today shows that people…

After November gigs supporting Oasis and a Hogmanay show at King Tut’s, Sergeant are to be playing at a free gig at The Tunnel, Aberdeen on Thu 22 Jan. The gig is hosted by Platform2, an overseas volunteering scheme for 18 to 25-year-olds. The…

Lending Crisis: A leading British businessman has warned that the bank-lending famine risks ‘irreparable damage’ to the economy. JCB boss Matthew Taylor had to lay off almost 700 workers as a direct result of the high street banks’ failure to provide…

Brown's £500m plan: People unemployed for more than six months will be guaranteed more intensive and personalised support to find work. Gordon Brown and other UK ministers will announce “golden hellos” worth up to £2500 for employers to recruit and…

Interest Rate: The interest rate has fallen to an all time low of 1.5 percent, which received mixed reviews from business and financial markets. HBOS: HBOS pension fund trustees are dropping legal moves that could have delayed the bank’s takeover by…

Restaurants: Record closures loom for Scottish restaurants, with fears of large scale closures and job losses. (Scotsman page 1). Law Firms: Leading law firm Thornton’s Solicitors cuts one in seven jobs, sparking fears of widespread job losses in the…

Housing Prices: Rise in Scottish property market has bucked the UK’s downward trend with new figures showing rise in property value in the last quarter. (Scotsman page 14, Herald page 5, Daily Telegraph page 6, Times page 8, Press and Journal page 3)

Arts publisher’s collaboration opens significant opportunities for arts data exchange. The List, Scotland’s leading arts and entertainments publisher have collaborated with Remotegoat, England’s premier arts data publisher and HI-Arts, the Scottish…

Scots Investors: Scots proved to be canny investors in 2008, beating the market and their UK counterparts when it came to picking shares. Tourism: Scotland is on the brink of a tourist boom that could lift large parts of the economy, Bill Jamieson…

The First Minister has asked businesses all over Scotland to accept the euro this year to help boost the tourist industry. He also said there was a strong argument for joining the euro on a permanent basis. (Scotsman page 7, Times page 2)

Half a million to fall behind on their mortgages in 2009, lenders have warned. Repossessions may return to 1990s levels. Record deficit drives the pound to Euro 1.05 on alarm over public finances. Comments from the Bank of England deputy governor lend…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper's website, the relevant page reference is blue and underlined. Economy Economic Crisis: Further analysis and commentary on the state of the economy…