Douglas Fraser✒️????

Douglas Fraser✒️????

BBC Scotland business and economy editor

26611 followers  •  1490 follow  •    •

@RobertTyreBute  @BBC ScotlandNewsYou mean the Scottish National Investment Bank announced years ago, funded in the last budget, legislated for in the Scottish Parliament - as you would have learned from BBC Scotland coverage? That one?

English post-lockdown rules: @BHAtweets  hospitality: "at best a restrictive straitjacket, at worst lockdown in all but name for hospitality: tier 3 businesses providing takeaway only, tier 2 restricted to substantial meals, will lead to permanent closures and job losses"

Four banks closed in Denny, so Imran Hamid is now the town’s go-to cash dispenser.

Oil price strengthening recently, Brent crude above $46 per barrel, on vaccine optimism, weakening US dollar, expectations of rising demand and of continued OPEC+ agreement to limit supply:

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“Sack the manager”: not so fast, says @FIFAcom . New employment rights are coming in, to match players’ rights. And in women’s football: 14 weeks maternity leave, breast feeding facilities, and alternative work during pregnancy.

“This crisis is devastating and unrelenting": @IATA  global airlines assoc * $118 bn loss expected for 2020 ($84bn forecast in June) * $39 bn forecast loss for 2021 ($16bn June forecast) * Loss per passenger this year: $66 * Costs cut 46%, revenue down 61%

UK finance sector faces new govt diversity drive. New evidence: * white men who attended independent/selective state school: 43% of senior roles * employees from lower socio-economic backgrounds took 25% longer to progress through grades * identifying as black: 32% longer


GERS: a £15bn gap between govt spending + revenue in Scotland: NOT a Scottish government gap. Complaint upheld:

8 days on, @TheIFS  has rumbled @RishiSunak . By looking at allocations through the Barnett Formula, it’s found the Chancellor’s rhetoric amounts to not much. To its credit, @scotgov  figured that out first: Barnett Formula is a useful guide to actual new @hmtreasury  funds. Thread:

"This, in Aberdeen, should be the biggest wake up call since the early days of this pandemic. Melbourne and Spain has seemed far away, but it can happen here and it IS happening here. Take this as the biggest, loudest warning that the infection is still there": @NicolaSturgeon 

Breaking: Johnston Press, Edinburgh-based publisher of ‘i’, + >200 local titles, has spent 18 months trying to refinance its £220m debt. No success, so concluded it has to put itself up for sale. All of it. Recent market valuation: £3m

The sound you hear in the Govan area is of chickens coming home to roost:

Breaking: No budget from @RishiSunak  this year, and a new package of COVID-19 mitigating measures expected tomorrow. Puts @KateForbesMSP  and @scotgov  in a horrible place: they need a balanced budget passed during winter and the numbers are haywire.

All kicking off in Downing Street. Angry bald bloke was to be top dog today, now quits: another angry bald bloke is furious, threatening to quit: could take more angry bald men with him. Another bloke, probably angry, possibly bald, has been hired. Who's going to get the comb?

Anyone care to explain how this works: convert debt to equity, raise money by issuing new shares, at the same time that you’re required, under protest, to offer to buy out shareholders, using money you can’t get out of South Africa?