Sterling tumbles to fresh lows

The pound tumbled to fresh record lows against a basket of other currencies yesterday as two members of the Bank of England’s Monetary Policy Committee warned deep cuts in UK interest rates would not be enough to solve the economy’s woes.

Economic downturn takes sparkle from Theo Fennell sales

Luxury jewellers Theo Fennell yesterday posted a half-year loss after the economic downturn took the sparkle off sales.

Coutts fights back over fresh attack on AIG losses

Coutts, the Royal Bank of Scotland-owned private bank, said yesterday it had still not received any communications from a group formed by Nectar loyalty card tycoon Sir Keith Mills to seek compensation for losses linked to troubled insurer AIG.

British Energy deal wins EU’s approval

EDF, the French state-controlled utility, won an important round in its long fight to take over Scottish-based British Energy after the European Commission yesterday cleared the £12.5bn take-over of Britain's main nuclear power operator.

ProStrakan signs licence and distribution deal for two key drugs in Canada

ProStrakan Group, the Scottish specialist pharmaceutical company, yesterday announced that it has signed an exclusive licence and distribution agreement with Paladin Labs for its Abstral and Sancuso products in Canada.

Ignis Asset closes Japan desk

Ignis Asset Management yesterday confirmed the closure of its Japan desk, the departure of fixed income head Joe McKenna and a wave of redundancies in its marketing operation.

Builder sees signs of recovery in housing market

One of the UK's largest housebuilders claims to see green shoots of confidence in the housing market follow- ing the sharp cuts in bank rates.

Norwegian licences win for Faroe

Faroe Petroleum has been awarded three new licences in the latest Norwegian licensing round.

Car giant Toyota profits plunge as Japanese exports hit

Japanese car firm Toyota today lowered its profit forecast for the financial year to barely breaking even.

Gemfire chief pushes for bailout deal to keep Scottish plant open

RICHARD Tompane, chief executive of troubled optoelectronics firm Gemfire, has said he is "determined" to keep the US company's plant open - in spite of recent mass lay-offs - and keen to strike a proposed bailout deal with the Scottish Government.

Dunfermline’s champion quits mutual post

GRAEME Dalziel, chief executive of Dunfermline Building Society, Scotland's biggest mutual, is to step down at the end of this month.

Hats, haggis and national flower power

RETAILERS across Scotland will have their fingers crossed that consumers throw caution to the wind this week and enjoy a belated spending spree.

Stick in with the pigs ... but watch out for your fingers

I'VE been trying to cheer Mossie up, or at least get him to snap out of it. He really seems to think his pigs are hard done by. He has a most efficient outfit.

Sporting charity plans £1m drive

SCOTTISH Sports Futures (SSF), the charity organisation committed to enhancing the lives of young people in some of Scotland's most depressed areas, is aiming to raise £1m from businesses north of the border to expand its operations.

	Sterling confident of bright future
	Sterling Furniture believes it has a found a way to ride out the recession - and as the economy dims, one of Scotland's best-known brands yesterday insisted it will continue to turn in hefty profits in one of the toughest of sectors.

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