New statistics show ‘marked drop in economic activity’ in late 2011 >>

Economic activity in the UK fell by 0.2 per cent in the final three months of last year. Figures from the Office for National Statistics (ONS) show a marked drop in economic activity from the third quarter of 2011, when gross domestic product (GDP) grew by 0.6 per cent. These figures are a preliminary estimate, however, and are likely to be revised. The... Read more

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Scottish unemployment rises by 19,000 amid talk of ‘crisis’ >>

The latest figures on the Scottish economy offer a confused picture. Unemployment rose in Scotland by 19,000 to 231,000 in the three months from September to November. That is likely to get worse if the Bank of Scotland’s Report on Jobs proves to be a reliable barometer, since it shows that the labour maket “lost further momentum” last month.... Read more

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EDF Energy reprimanded for safety lapses at Torness nuclear plant >>

By Rob Edwards EDF Energy has been reprimanded by the government’s nuclear watchdog for a series of safety lapses at the Torness nuclear power station in East Lothian, The Caledonian Mercury can reveal. The Office for Nuclear Regulation (ONR) has criticised the French power company for a “shortfall” in its arrangements for checking safety valves... Read more

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Opinion: Give everyone a say in Scotland’s future >>

Martin Sime is director of the Scottish Council for Voluntary Organisations, and writes a monthly column for The Caledonian Mercury. The latest furore about the independence referendum highlights a rather curious fact. Opinion polls repeatedly suggest strong support among two-thirds of the people of Scotland for more powers for the Scottish parliament,... Read more

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Opinion: Will the London Olympics be the regeneration games? >>

By Colin Borland Doctors warn that making new year’s resolutions can lead to depression. Especially if you’re a publican, bookmaker or tobacconist. For the rest of us, our habitual failure to stay away from pies and pints for any longer than it takes to pay off the January credit card bill can lead to feelings of failure and low self-esteem. But... Read more

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Video: Gordon Motion, master blender >>

It’s been quite an exciting time for the Famous Grouse. “Gilbert” – the star of the annual adverts on television – is now part of the Famous Family. First came Black Grouse, then Naked Grouse and finally (for the time being) Snow Grouse. Creating the characters of the different blends has been the challenge given to master blender,... Read more

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Video: Edinburgh trams control centre handed over to council >>

A year ago, it seemed possible that the Edinburgh trams project could end in tears. Almost everyone involved with the construction of the network was at loggerheads with each other. For most of last year, no work was carried out on building the line. To try and break the deadlock, the parties agreed to mediation. It was a long and tortuous process.... Read more

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Widespread concern as Scottish jobless figure hits 8.5 per cent >>

The latest unemployment figures from the Office for National Statistics show that there were 229,000 Scots looking for work in the three months from August to October, up by 25,000 on the previous quarter. The unemployment rate here is now 8.5 per cent, slightly higher than the UK average of 8.3 per cent. Unemployment in the UK as a whole rose by 128,000... Read more

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Video: Edinburgh Chamber of Commerce chief exec stands down >>

The chief executive of Edinburgh Chamber of Commerce, Ron Hewitt, is leaving after six years in the job. His time in office has been something of a roller-coaster of a ride. The economy was booming when he started only for the credit crunch to hit just about every sector. Despite this, the chamber has managed to increase its membership and, even in... Read more

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Opinion: There’s more to life than gross domestic product >>

Martin Sime is director of the Scottish Council for Voluntary Organisations, and writes a monthly column for The Caledonian Mercury. For too long, policymakers have viewed gross domestic product (GDP) as the sole measure of our success, but GDP growth does not necessarily indicate progress. It cannot tell us how happy we are, how fulfilled we are... Read more

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Artistic and economic regeneration in Glasgow’s South Block building >>

By David Cook Today sees the formal completion of a £3.5 million warehouse regeneration programme in Glasgow which will earn £69 million for Scotland’s economy. In immediate terms it is good news because the South Block building will become a hub for Scottish artists and the creative industries, bringing money and 200 jobs to the Merchant City. But... Read more

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Video: HSBC at the Power Lunch Club >>

HSBC is making determined efforts to expand its presence in Scotland. People here may not remember that the bank was founded by a Scot, Sir Thomas Sutherland (1834–1922), and its current senior management is still heavily dominated by Scots. The bank is opening new branches in central Scotland and staff are making determined efforts to get out and... Read more

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Opinion: Why we need a shot in the arm, not an economic placebo >>

By Colin Borland For about a week now, every day has brought another reminder that, if not unprecedented, these are exceptional economic times. We’ve had predictions that real household incomes are set to fall by over 7 per cent compared to a few years ago. The world’s major central banks have clubbed together to shore up the global financial system.... Read more

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Video: Scottish National Portrait Gallery re-opening >>

The Scottish National Portrait Gallery re-opens tomorrow, after having been closed for over 18 months. It has had almost £18 million spent on its renovation and has been transformed from a dark and dusty mausoleum into a light and airy series of open spaces where pictures, portraits and photographs can be shown all in their splendour. The hanging... Read more

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Autumn statement: plenty of credit easing, not much crowd pleasing >>

There has been a very mixed response to today’s autumn statement by the chancellor of the exchequer. As expected, George Osborne confirmed that growth would be lower than previously predicted, while borrowing and unemployment would also be higher than forecast in his budget in March. He blamed the eurozone crisis, the rise in global commodity... Read more

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Ideas, advice and concern ahead of the chancellor’s autumn statement >>

The chancellor’s autumn statement is a time for the government to take stock. It provides a chance to tell parliament and the country about the state of the economy, to explain any changes of direction and to announce any initiatives. This Tuesday, George Osborne will be under more scrutiny than usual. There are usually few surprises in the speech.... Read more

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Massive pay imbalances ‘corrosive’ to UK economy, commission finds >>

There is something wrong with our society when reports on two consecutive days highlight the enormous gap between the rich and poor. Today’s Annual Survey of Hours and Earnings shows just how many young people are being paid less than the minimum wage. The total is a staggering 299,000 – or just over 1 per cent of all jobs in the UK. At the same... Read more

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Scottish unemployment at 8 per cent as ‘economic outlook worsens’ >>

Unemployment in Scotland is up by 5,000, with some 215,000 recorded as out of work in the three months from July to September. It means that the unemployment rate north of the border stands at 8 per cent, just below the UK average of 8.3 per cent. Across the UK, unemployment increased by 129,000 over the same period to 2.62 million. The labour market... Read more

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Eurozone problems add to the gloomy Scottish economic picture >>

It’s been a depressing few days for the watchers of Scotland’s economy. First came the CBI, which cut its forecast for growth in the UK between now and next year to just 0.9 per cent. Then the Office for National Statistics showed UK manufacturing output rising by a mere 0.2 per cent in September, after a 0.3 per cent drop in August. The highly... Read more

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Opinion: When fantasy economics become all too real >>

By Colin Borland There was a sketch in one of the early Comic Relief shows in which a banker from the 1970s explained the extent to which servicing their international debts had impoverished so much of the developing world. “Let’s invest in countries,” he said, recalling the thinking of the time. “I mean, they can’t go bust.” But, of course,... Read more

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