Business investment fell 1.9% in second quarter

UK business investment tumbled a further 1.9% in the second quarter, according to official figures yesterday which heightened fears that the 0.2% overall economic growth figure for the three months to June could be revised down today.

	Back to black in 2009, vows Galashiels drug specialist
	Wilson Totten, chief executive of ProStrakan, yesterday said he was confident the Scottish specialist drug company would break into the black during 2009, following its push into the lucrative US market.

Wood Mac strikes it rich on commodities

Edinburgh-based Wood Mackenzie underlined how much money can be made in the commodities business with news of a leap in earnings and the acquisition of a mining specialist that is thought to have cost more than £50m.

Wood adds to services as turbines deal allays US worries

Wood Group, the Scottish oil services giant, has beefed up its service offering and increased its presence in a key growth market with the latest in a series of bolt-on acquisitions.

Credit warnings haunt Wall Street’s unhappy couple

Credit woes returned to haunt Wall Street yesterday after shares in Fannie Mae and Freddie Mac, which have both lost more than 80% of their value this year, tumbled on fears of a government bailout of the two housing finance companies that would wipe out shareholders' value, while analysts warned US banks may incur more write-downs.

Copper-bottomed plan from Diageo

A consignment of 14 gleaming new copper stills has been delivered and installed at Roseisle, Moray, as part of the construction of Scotland's first distillery in more than 18 years.

Persimmon feels bite as mortgage numbers tumble

Persimmon, Britain's biggest homebuilder, yesterday reported a sharp fall in first-half profits after banks approved fewer mortgages amid the worst housing slump in more than 15 years.

Babcock & Brown top brass resign

The chairman and chief executive of Australian investment group Babcock & Brown, which holds a 23% stake in Forth Ports, both quit yesterday amid the group's continuing financial troubles.

Abermed wins contracts worth £5m

Abermed, the industrial and occupational health group, announced yesterday that it had won multi-million-pound contracts with Shell UK and Transocean to provide medical services to staff.

UK consumers spring surprise with retail sales jump

Retail sales staged a surprise revival last month, official figures showed today.

Housebuilder Persimmon profits crash

Housebuilder Persimmon today kicked off what is set to be a grim results season for the sector after first-half profits slumped by nearly two-thirds.

	Case could be made for changing or holding rates
	The Bank of England's Monetary Policy Committee weighed arguments for cutting, raising and holding benchmark UK interest rates before deciding to stand pat at 5% two weeks ago, minutes reveal.

Stagecoach among front runners for new rail franchise

Stagecoach is among four bidders for a lucrative new trains franchise in London and the south of England, which would increase its rail revenue by more than 50%.

Data from CBI adds to gloom

UK manufacturers’ expectations of output in the coming three months are at their lowest ebb for nearly seven years, a survey from the Confederation of British Industry shows.

Mortgage slump to get worse, says council of lenders

The slump in mortgage lending across the UK continued in July and will get worse in coming months, according to the latest figures published yesterday by the Council of Mortgage Lenders.

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