Morph firm evolves

Tuesday 3 July 2012 6:00

The Scottish firm which gave the world Morphsuits - that have become hugely popular with charity runners, stag parties and sports spectators - has received £4.2m in new funding to continue its expansion. The brightly-coloured, figure-hugging suits, have driven growth at AFG Media from £1.2m in 2010 to an expected £11m in 2012.

Creative value

Monday 2 July 2012 8:00

Scotland’s arts and creative industries are valued at more than £3.2bn to the nation’s economy, according to a new report. The Economic Contribution Study, commissioned by Creative Scotland and Scottish Enterprise, indicates that the sector directly employed 84,000 people in 2010. The study defines the sector with a total of 16 different industries, from software and electronic publishing to the performing arts. A further 21,000 freelancers and workers outside the creative industries are thought to work in a creative capacity. When indirect contributions and induced effects are included, the Gross Value Added rises to £6.3bn and employment to nearly 130,000.

Firms in the dark over bribery act

Monday 2 July 2012 7:00

As much as 75% of Yorkshire and Humberside-based middle managers are thought to have never heard of the UK Bribery Act, a new study by Ernst & Young has claimed. The company questioned 1,000 UK middle managers, said the results show a lack of preparation by many organisations. BQ's backroom boy Frank Tock gives his views on the story here.

Start up decline halted

Tuesday 26 June 2012 8:00

The long-term decline in Scottish start up activity looks to have been arrested with a new study finding a significant rise in the number of Scots looking to start their own business in the next three years.  The Global Entrepreneurship Monitor for Scotland found the proportion of working-age people who planned a new business rose from 6% to 9.8% in 2011.

ITEM Club downgrade

Monday 25 June 2012 10:00

Cairn keen on acquisition

Thursday 14 June 2012 8:00

Scottish oil and gas firm Cairn Energy is reportedly set to swoop for London-based Nautical Petroleum for around £414m. The company said yesterday that the deal would expand its holdings in northwest Europe while the transaction values Nautical at more than 1 1/2 times its closing share price yesterday.

Aslef predicts split

Thursday 14 June 2012 7:00

The train drivers union Aslef yesterday claimed that the Scottish government intends to split up the ScotRail franchise and offer the contract for the sleeper service to a private firm. Aslef said the changes would lead to a five-year deal for most services with a lengthier deal being tendered for the sleeper service.

Thomas Cook closure

Thursday 14 June 2012 6:00

Embattled travel group Thomas Cook is closing its Bradford office, which employs 537 people. The company said that some roles would be relocated to other offices while unions described the move as "a scandal". Ian Ailles, chief executive Mainstream at Thomas Cook UK & Ireland, said:“As part of the previously announced UK turnaround, we have regrettably today advised colleagues in our Bradford office that we’re proposing to close it by March next year, relocating some roles to our other UK sites in Birkenshaw (near Bradford), Peterborough and Falkirk.”

Diageo sinks cash into whisky

Wednesday 6 June 2012 9:00

Drinks group Diageo Plc is to pump over £1bn of new investment into Scotch whisky production over the next five years, creating hundreds of jobs in the process. The move, says the company, will meet growing demand from the emerging markets of Asia, Latin America and Africa. The Johnnie Walker, J&B and Bells whisky maker will build a new malt distillery, expand a number of its other distilleries and develop plans for a second new distillery if global demand is sustained at expected levels. Diageo's Scotch whisky sales have risen 50% over the last five years to nearly 3 billion pounds last year, creating a third of group profits and in the last half of 2011 the Scotch market saw volumes grow 8 percent and sales some 14 percent.

Rock Farm saved

Wednesday 6 June 2012 6:00

The jobs of 55 workers at Rock Farm Dairy in County Durham have been secured following the sale of the company’s business and assets to UK Dairy Sales Limited. The administrators successfully negotiated a tolling agreement with UKDS, which preserved the opportunity to sell the business as a going concern, where assets have remained in the same location, protected employment and provided continuity of supply to customers. The conclusion of the sale is a result of successful negotiations between the administrators and UKDS following a productive tolling period that lasted 90 days. All employees retained by the company following administration will be transferred to the new owner along with company owned assets. Joint administrator Stephen Oldfield said: “The sale is positive news for all stakeholders as it enables the transfer of 55 employees and preserves continuity of supply to customers in the North East, providing a longer term solution beyond the tolling agreement."

Caterpillar digs deeper foothold

Wednesday 6 June 2012 6:00

Caterpillar's plant in Stockton-on-Tees is set to expand, after planning permission was granted to add a further 2,500 sq m to its manufacturing space. The Preston Farm Industrial Estate firm, which produces parts that are used to make construction and building equipment exported around the world, will start work on the extension to its 15,000 sq/m site next month, after its planning application was passed by Stockton Borough Council. The extension has been funded by the Stockton facility’s American parent company, due to sustained global demand over the past 18 months.

Historic tank factory to close

Thursday 31 May 2012 12:00

BAE Systems is to close its historic factory in Newcastle, with the loss of 330 jobs. The site is currently used to make Terrier vehicles for the Army but was allso used to make First World War tanks and has been in operation since as far back as 1847. Meanwhile an additional 280 jobs will reportedly be lost at three other BAE sites - Washington, Radway Green, near Crewe and Glascoed in South Wales.