The Scotsman

B&B Could Survive On Mortgage Services

NATIONALISED lender Bradford & Bingley hopes to stave off eventual closure by turning itself into a mortgage services firm. Managing director Richard Banks - currently charged with winding down the business - outlined the plans on the anniversary of its slide into public ownership.

Between the Lines: The Patient May Be Off Life Support, but Remains Gravely Ill

RISK is back in the market. Last March, we were in the doldrums and the talk was of deflation. Then global equity markets took off like a rocket. Despite a wee wobble last week - which I suspect was more to do with the end of the quarter than anything else - the stock market recovery has proved astonishing. The Morgan Stanley world index of global shares is up 60 per cent from its 2009 nadir. Can it last? Pessimists point out this rally is far in advance of real economy fundamentals. Non-fina...

Comment: Brown Happy to Jump On Post Office Bandwagon

AMID the rhetoric and bluster of Gordon Brown's pledge for a fairer society was a future role for those post offices that have survived his government's wrecking ball. The Prime Minister wants the 11,500 that remain to play a bigger role by providing banking services and being at the heart of the communities they serve.

In Brief: Liverpool Looks to Kop New Investors

LIVERPOOL Football Club co-owners Tom Hicks and George Gillett have confirmed they are looking for outside investors. The Americans said in a joint statement that the search "is at an early stage" and that at present "there is no agreement with any party".

Canny Management Helps Scotmid Co-Op Keep Ahead of the Game

SCOTMID, the co-operative retail and funeral business, yesterday revealed increased sales and a small boost to operating profits in its half year, thanks to a "canny approach" to managing the business. Although the Edinburgh-based group said the cost of distribution had increased, food sales in its chain of 135 convenience food stores continued to grow under chief executive John Brodie's "back to basics" strategy.

The News Is Brighter for Local Press Advertising

A SHAFT of light for regional newspapers emerged yesterday as Daily Mail & General Trust said advertising revenues in the sector had continued to stabilise. DMGT, whose Northcliffe Newspapers' regional arm suffered as classified ads plummeted in the recession, said that it was confident of at least meeting market expectations for adjusted full- year profit, after revenue for the first 11 months of the year fell 9 per cent.

English Sales Add Fizz and Sparkle to Barr's Shares

SHARES in AG Barr rose more than 11 per cent yesterday after the Irn-Bru maker unveiled a double-digit rise in sales. The soft drinks maker racked up revenues of GBP 104.7 million for the six months to 1 August, a rise of 27.1 per cent, boosted by the acquisition of London-based fruit drinks specialist Rubicon.

Hsbc Snaps Up 47 Per Cent Stake As Part of Jessops Rescue Deal

BRITAIN'S biggest photographic retailer has agreed a survival deal that secures some 2,000 jobs but leaves only GBP 100,000 to be split between the group's embattled shareholders. Jessops, which has seen its sales slide and debts rise in the face of online competition and a spending slowdown, admitted yesterday that it had been facing collapse if the rescue deal had not been hammered out.

Moss Bros Profits Facing a Dressing-Down

A DOWNTURN in black tie events and corporate hospitality at Ascot has put pressure on dinner jacket hire at menswear retailer Moss Bros Group. But customers' desire to smarten up for job-hunting meant worsening losses were still not as bad as predicted. Yesterday, the group said it expected a return to profit "sooner rather than later". "There are opportunities inside the business that mean we can get back to profit probably a lot sooner than a lot of commentators would otherwise think," said...

Watchdog Threatens to Bite Lenders Over Rejected Ppi Claims

Jon Pain: 'Consumers should not be pressured or deceived' LENDERS have been told to reopen thousands of rejected payment protection insurance (PPI) complaints after being given a "last chance" by the City watchdog to show they can act in the interest of consumers.

Slowing Money Growth Casts Doubts On Bank's Gbp 175bn Pump Priming

FRESH doubts over the Bank of England's GBP 175 billion efforts to aid the economy emerged yesterday, after figures showed money growth slowed during August. The central bank's preferred measure showed money supply growth easing to 0.2 per cent last month, compared with a downwardly- revised 0.4 per cent in July.

Recession May Show Signs of Easing but It Will Be a Long Slow Recovery

BRITAIN still faces a "long slow recovery", economists warned yesterday, after official figures showed the recession was not as deep as previously feared between April and June. The UK economy is now odds-on to have pushed into positive territory during the third quarter, after final estimates for Q2 revealed a 0.6 per cent contraction in GDP.

Shed Set to Boost Scots Arm After Profits Surge

SHED Media, the television content creator and distributor, has boosted half-time profits despite a "nervous commissioning environment". It has also strengthened its Scottish connection - Garrow's Law, a four-part drama for BBC One, which is set around London's law courts in the 1800s, was filmed north of the Border, chief executive Nick Southgate revealed.

Sigma Spin-Out Set to Pounce On Rivals

FRONTIER IP, the spin-out firm set up by Sigma Capital to commercialise university research, is poised to pounce on rivals, one of its directors yesterday revealed. Marilyn Cole, finance director of parent company Sigma, said she expected consolidation within the sector and that Frontier was well positioned to swallow other investment firms.

Markets: Ftse Refuses to Bank On Rises

LONDON FTSE 100 CLOSE 5,159.72 -5.98 DESPITE a general rise in financial shares, the blue-chip FTSE- 100 index closed down slightly yesterday on lingering doubts over the impact of the Bank of England's quantitative easing programme.