Scottish Business Briefing - Tuesday 09/08/2011

WELCOME to scotsman.com's Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.

ECONOMY

Weir takes hit in fallout over US fears

SCOTTISH stocks continued to take a battering yesterday amid the wider market sell off, with Weir Group among the five biggest fallers in the Footsie (Scotsman).

Baxter joins board of government fund to boost business growth

Audrey Baxter, executive chairman of the eponymous Scottish soup and sauce maker, was yesterday named as one of four non-executive directors of the Business Growth Fund born out of the UK government's negotiations with the big banks (Scotsman).

Read all today's economics news from scotsman.com

ENERGY & UTILITIES

Statoil hails major North Sea oil find

NORWEGIAN energy giant Statoil yesterday announced a "high-impact oil discovery" in the North Sea, raising hopes that the area has a much longer life-span than previously estimated (Scotsman).

Read all today's energy and utilities news from scotsman.com

INDUSTRY

Mackintosh on course for 20% rise in turnover

RAINCOAT manufacturer Mackintosh is set for a further 20% rise in turnover this year, the company has predicted, after returning to profit thanks to burgeoning demand (Herald).

Read all today's industry news from scotsman.com

RETAIL

High street sales up 2.5% fail to lift the gloom

DISCOUNTING and clearance sales kept Britain's tills ringing last month, figures today suggested, but analysts warned the spending spree was unlikely to last amid a squeeze on household incomes (Scotsman).

Read all today's retail news from scotsman.com

TECHNOLOGY

Axis-Shield shares up as stalker Alere raises its stake

ALERE, the New York-listed medical device maker stalking Dundee-based Axis-Shield, has upped its stake in its takeover target after snapping up shares on the open market (Scotsman).

Read all today's technology news from scotsman.com