Douglas Fraser✒️????

Douglas Fraser✒️????

BBC Scotland business and economy editor

25119 followers  •  1323 follow  •    •

"Up the spout": trading update from Tim Martin of Wetherspoons. Not Brexit this time: a rant about corporate rules. Truly the Basil Fawlty of British business. The bore propping up his own bar? Or... an elaborate Harry Enfield hoax?

While Labour and Conservatives clash on how much more both are pledging to the health service in England, what could it mean for NHS Scotland? And if J Corbyn puts up tax on higher earners, could Scotland become the lowest taxed part of the UK?

World Energy Outlook 2019 from @IEA  Energy Agency today, flags up sector's huge climate change challenge: “World urgently needs laser-like focus on bringing down emissions: grand coalition of govts, investors, companies, others committed to tackling climate change" @IEABirolBirol 

@CemetryGates89  Yes, you're so right. I should have got stolen the detailed tax returns, and reconfigured them, applying know-how and interpretation of tax law that apparently eluded Ibrox accountants, HMRC and, er, everybody else. Silly me.

First Group, Aberdeen HQd transport giant: half year loss of £118m, due to £124m impairment on valuation of Greyhound bus ops in US, £59m extra cost of US insurance and £14m restructuring cost. Preparing to take over West Coast rail franchise, in partnership with Trenitalia

Biz jargon watch: from Premier Oil “we continue to create value through the drill bit and to build material new positions in emerging exploration plays”

Yet more biz jargon, from Phoenix Group: “partnership will create a single, open architecture workplace pensions and savings, digital operating platform, allowing (the firm) to partner with a variety of innovators as it continues to develop its wider workplace offering”

@journalism_news  @heraldscotland “Whilst these potential redundancies are regrettable, it means we can continue to invest in quality journalism for many years to come.” I think the word ‘not’ may be missing here.


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

BREAKING: Dave King, chairman of Rangers, has been given the most severe sanction available to the Takeover Panel: cold shouldering for 4 yrs - means UK financial firms are barred from acting for him in any other company takeovers. In 50 years, this has happened in only 4 cases.

"Bringing both PR and politics into disrepute". No mean achievement.

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:

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?

BREAKING: Scotch whisky leads list of EU exports products walloped with 25% tariff as they enter US, it’s biggest market - in retaliation for Airbus subsidies. Also cashmere sweaters, dairy, pork, olives, biscuits, books, some machinery, 10% tariff on aircraft. From Oct 18.

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The Jim Bowen moment in Holyrood politics: “The 2017/18 budget is now £97m lower than if income tax had not been partly devolved”