Major European player buys historic Scottish company for £110m

Menzies Distribution was the subject of a takeover by European giant InPost with the 70 per cent stake costing £60.4m, The Herald team reported this week.

The remaining stake was acquired in an all-cash deal this week (Image: Menzies) InPost last year acquired a 30 per cent stake in the company for £49.3m.

The deal comes less than six years after the road haulage business was sold by its parent company John Menzies, which dates which dates from 1833, to private equity group Endless for £74.5m, with John Menzies then severing its historic ties with the newspaper trade to focus on its aviation services operations.

Trump’s Aberdeen golf course racks up 11th straight year of losses

Donald Trump’s Aberdeenshire golf course has reported deepening losses in 2023 despite a surge in turnover, while the opposite was the case at the family’s Turnberry resort in South Ayrshire.

The losses have deepened (Image: PA) During the year, in which Trump International Scotland played host to the PGA Seniors Championship, the resort at Balmedie near Aberdeen saw pre-tax losses nearly double to £1.4 million from £738,344 previously. This was despite a slight rise in turnover to £3.74m versus £3.6m in the preceding 12 months.

It marks the 11th straight year of losses for Trump International Scotland – whose directors are listed as the former US president’s sons Donald Jr and Eric Trump – taking the total deficit to more than £16m.

Scotland’s chief entrepreneur quits, citing ‘draining’ right wing attacks

The chief entrepreneurial advisor to the Scottish Government has quit the role, citing the “draining” effects of right-wing attacks.

Deputy First Minister Kate Forbes with Mark Logan (Image: PA) Mark Logan was a high-profile recruit by Kate Forbes, now Deputy First Minister and Cabinet Secretary for the Economy, in 2020, when she hired the former Skyscanner executive to review Scotland’s technology ecosystem.

Mr Logan, who helped build Edinburgh-based Skyscanner into one of Scotland’s first tech “unicorns”, authored the Scottish Technology System Review and has since remained with the Scottish Government, working on entrepreneurial policy.

Timetable for transformation of city centre streets revealed

The timetable for the biggest transformation of Glasgow’s public realm in half a century has been revealed.

The timetable has been set out (Image: Glasgow City Council) In what will be the most significant change to city centre streetscapes since the 1970s pedestrianisation of Buchanan Street, work on the creation of 11 ‘Avenues’ will kick off in early 2025.

Funded through the City Deal and other Government streams, the programme involves the transformation of major thoroughfares including Argyle Street, the Broomielaw and Clyde Street, as well as George Square and surrounding streets.

The reworking of Sauchiehall, Pitt and Cambridge Streets is already nearing completion, but the new phase will see a major acceleration and expansion of the Avenues across the city centre.