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REEBOK MAKES FIRST MAJOR PROFIT IN YEARS AFTER BEING SOLD BY ADIDAS

The UK arm of sportswear giant Reebok made its first substantial profit since 2014 as it was sold by Adidas for €1.6bn. The Altrincham-based business reported a pre-tax profit of €57.6m for the 14 months to February 28, 2022, compared to a €22.2m loss in 2020. The last time Reebok UK made a profit was

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BUSINESS ADVISERS SAY SCOTTISH INSOLVENCY ACTIVITY HAS BEEN IMPACTED BY COST OF LIVING CRISIS

Wylie & Bisset, Accountants and Business Advisers, has said that profitable businesses that suffered financially during the pandemic are now being squeezed by a cost-of-living crisis which has led to a high level of Scottish insolvency activity. The number of insolvency-related activities in Scotland has reached its highest level this year, according to new research from R3,

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SOFANT TECHNOLOGIES TO HELP DEVELOP ANTENNA FOR AIRCRAFT

The Edinburgh based Sofant Technologies, a leading innovator in advanced antenna technologies, and Inmarsat Government, the leading provider of secure, global, mission-critical telecommunications to the U.S. Government, are pleased to announce a joint development aimed at revolutionising the communication capabilities of aircraft. Together, the two companies will collaborate on a state-of-the-art phased array antenna designed

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LOAN PROVIDER FALLS INTO ADMINISTRATION LOSSING CLOSE TO 140 JOBS

More than £24m was owed by a loan provider as it entered administration with the loss of almost 140 jobs. The Manchester-headquartered Auden Group collapsed in March having been loss-making since it was set up in 2013. The business had provided short term (3-12 month) loans of between £200 and £1,000 to customers. It was

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POPULAR ENTREPRENEUR LAUNCHES LUXURY ONLINE FRAGRANCE STORE

The director of the fast-growth skincare brand Zena Skin has launched Thomson Carter, a new experiential fragrance brand that aims to disrupt the market. Connor Martin, a 27-year-old e-commerce entrepreneur, is branching out into the fragrance market with a luxury brand that focuses on the full experience of ordering, unpacking and wearing fragrances. The UK-made

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THE UK’S FIRST SUBSEA CABLE FACTORY HAS BEEN APPROVED

North Ayrshire Council’s planning committee has granted permission for XLCC’s high-voltage direct current (HVDC) subsea cable factory in Hunterston. The decision paves the way for construction to commence and follows outline planning permission being granted last year. Work on the site will now start in early 2024, with cable production slated for 2026. Development of

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HIGH DEMAND & RISING PRICES ARE LIMITING ACCESS TO SCOTLAND’S VALUABLE RURAL LAND

Scotland’s increasingly valuable rural land is only available to a limited few as high demand from forestry, natural capital investment, and corporate estate buyers continues to drive high prices, according to a new report by the Scottish Land Commission. The Rural Land Market Insights Report 2023 underlines the need for action to ensure that communities,

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RECOVERY SPECIALIST RAISES EXPECTATIONS AFTER MULTIPLE INSOLVENCIES

Begbies Traynor has raised expectations for its full-year results after a surge in insolvencies. The Manchester-headquartered group, which has offices across the UK, said it now forecasts its revenue to be around 11% higher at about £122m for the 12 months to April 30, 2023. Its pre-tax profits are also set to be about 16%

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