Business News Round Up (13/09/19)
Edinburgh’s £500m Business Gateway plans called in by Scottish Government over transport concerns
Plans to create a 250-acre International Business Gateway development next to Edinburgh Airport has been called in to assess transport impacts of the proposed development. The development was expected to bring more than 12,000 news jobs, nearly 400 homes and more than 1,150 hotel rooms.
International competition launched to find partner for ID Manchester
The University of Manchester has announced a competitive tender process to find its development and investment partner to deliver a new world-class innovation district with an estimated development value of £1.5 billion. ID Manchester, a science and technology hub, is proposed to bring huge economic benefits with the potential to create over 6,000 new jobs.
Scottish business confidence hits highest rate in a year
According to the latest Institute of Chartered Accountants in England and Wales (ICAEW) Business Confidence Monitor, business confidence in Scotland has marginally increased for the first time in a year. It revealed that businesses in Scotland are increasing their investment expenditure, with research and development budgets up 3.6% and capital investments up 2.9% – higher than the UK average of 1.7%.
https://www.thenational.scot/news/17899115.scottish-business-confidence-hits-highest-rate-year/
Scottish energy giant sells domestic retail business for £500 million
SSE has sold its energy services business to rival OVO Energy in a £500 million deal which will transfer 8,000 staff and 3.5 million customers. The deal, made up of £400 million cash and £100 million in loan notes, is expected to complete in late 2019 or early 2020 allowing time for a phased and carefully managed migration.
https://www.insider.co.uk/news/scottish-energy-giant-sells-domestic-20053074