Scottish Business Briefing - Monday 14 May, 2012
BANKING
‘I was dead wrong,’ says contrite JP Morgan chief
The chief executive of JP Morgan, which last week stunned the market by announcing a $2 billion (£1.2bn) loss caused by its London operations, has admitted he was “dead wrong” to dismiss concerns about the bank’s trading last month (Scotsman)
ECONOMICS
Bank of Scotland says private sector growth continues
Bank of Scotland analysis found expansion in output last month was only slightly down on March’s 11-month high (Scotsman).
FOOD, DRINK & AGRICULTURE
Thai food company circling Birds Eye
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Hide AdThe maker of products such as Birds Eye fish fingers has followed Weetabix as the latest household British brand to attract takeover interest from Asia (Herald).
INDUSTRY
Pledges to drugs discovery centre take investment to £50m level
Six of the world’s largest drug companies today announced a £14.4 million injection to fund research in Dundee that will develop treatments for diseases such as arthritis, cancer and Parkinson’s (Scotsman).
PERSONAL FINANCE
Scottish house price ‘reality gap’ widening
The average property in Scotland is being sold for £17,500 less than the asking price, a survey has suggested (BBC).
TRANSPORT
Thomas Cook warns that disposals are a must
Thomas Cook warned its shareholders this weekend that their failure to back two disposals could lead to the firm going into administration (Scotsman).