The Herald

Week Seven: In the Penultimate Discussion of the Series Which has Sparked Debate Across Scotland, We Focus On Business's Trickiest Dilemma: What Is the Real Cost of the Bottom Line?; the Herald Business Debate: Corporate Ethics

CAN a fast food corporation meaningfully take the lead in promoting healthier living? Can a global oil giant credibly aspire to help shape the world beyond petroleum? What genuine interest can players in the financial services sector have in educating citizens in how to better manage their money? Aren't all businesses - other than those with a hard-wired commercial death wish - in the business of creating wealth, by making bigger and bigger profits for their shareholders with each year that p...

We Feel so Degraded; Speech and Language Therapists Claim Their Status and Pay Are Under Threat, but Are These Fears Justified? By Health Correspondent Helen Puttick

It is Scotland's biggest employer with more than 130,000, workers and an annual wage bill that could sustain a small Third World country, so revamping the salary structure of the NHS in Scotland was never going to be a walk in the park. The pay and conditions deal, Agenda for Change, that starts in December, reassesses the value of virtually every health service employee on a national scale except for consultants and doctors who already have new contracts.

The Green Party Deserves a Mention

I noticed with some concern that in the society survey in today's Herald there was a curious omission. In the question about voting in the last Scottish Parliament election, you have not mentioned the fifth-largest party, the Scottish Green Party, although you have included the SSP. I am assuming this was accidental. However, I hope you will be drawing your readers' attention to this error and publishing a correction.

Next Us Leader Will Be Decided by 'Voters Ignorant Beyond Belief'

The Dirty Race for the White House Channel 4, 8.00pm Dead Ringers US Election Special BBC2, 9.00pm It isn't often that right-wing journalists astonish me. The devil, in my experience, hasn't given them a new tune in years. As politics goes, they do paint-by- numbers, generally in shades of black. Peter Oborne was hardly of the sunniest disposition last night, but his analysis of American presidential politics was stunning. This was less because of the argument, powerful as it was, than becaus...

Johnstons of Elgin Lifts Annual Earnings 13%

SCOTTISH cashmere company Johnstons of Elgin has reported a 13% rise in pre-tax profits for 2003 on sales of (pounds) 39.6m as its luxury positioning helped maintain demand in a tough trading environment. Accounts for the 207-year-old group filed with Companies House showed that sales to UK customers grew 22% during the year while exports dipped to (pounds) 13.5m from (pounds) 16.1m in 2002. Johnstons employed 729 staff last year compared with 690 the previous year.

Auditor Flags Sra Dispute at Gner

THE auditor of Great North Eastern Railway has highlighted for the second year running a fundamental uncertainty in the company's accounts, this time because of a (pounds) 25m claim by the Strategic Rail Authority which has since been settled. In Great North Eastern's financial records for the year to January 3, 2004, accountants Deloitte & Touche noted that regulators at the SRA were hoping to claim up to (pounds) 25m of the compensation paid to Great North Eastern by Network Rail in connect...

Waverley Acquisition Puts Icing On Lees Earnings

Lees Group, the confectionery producer famed for its macaroon bars, increased pre-tax profits 7% to (pounds) 480,000, last year - but only thanks to the well-timed acquisition of Scotland's sole ice- cream cone and wafer manufacturer. The (pounds) 231,000 operating profit generated by Cambuslang- based Waverley Bakery, which Lees bought for (pounds) 1m in January 2003, made all the difference to the group's performance in the year, as supermarkets put the squeeze on prices while costs leapt.

Oil Speculators Bet On Kerry Win; Plunge in Crude Could Provide Further Relief As Uk Manufacturing Growth Rises

US crude tumbled more than $2 a barrel to less than $50 yesterday, as speculators gambled on a presidential election victory for John Kerry which might ease geopolitical ten-sions. The latest drop in the oil price - which has spent nearly a month above $50 and peaked at $55.67 last week - was the second piece of good news for UK manufacturers yesterday.

Thus Secures Prison Contract

Founder Pockets (Pounds) 1m From Sale of Cedalion; Charteris of London Snaps Up Technical Consultancy

Chris Galley, a 38-year-old computer scientist, has scooped a (pounds) 1m windfall following the sale of Cedalion, the Edinburgh- based consultancy that he founded in his bedroom, to Charteris of London for (pounds) 3m. AIM-listed Charteris has acquired Cedalion, which specialises in helping companies and public sectors bodies develop systems based on Microsoft applications, to extend its reach into Scotland and presence in sectors like financial services.

Monkey See, Monkey Do As Us Savers Ape Bush Habits

IN the final embers of one of the most bitterly-fought American presidential election campaigns ever, the Democratic challenger John Kerry was desperately trying to stoke new life into his critique of President Bush's domestic record. The Boston senator was anxiously pushing his own promises of better jobs, more affordable healthcare and a revitalised school system as he wooed the dwindling ranks of the engaged but as yet undecided.

Firms Urged to Profit From Exporting Ppp

COMPANIES and business consortia behind Scotland's controversial public-private partnership projects are being invited by the Scottish Executive to get "a foot in the door" for similar work among the new members of the European Union. Tom McCabe, the newly-appointed finance and public service reform minister, is in Prague today addressing a so-called "global summit" on PPP, saying there is a need to give other countries "a warts and all" view of the process. He will be followed at the confere...

Developers Acquire Manor Kingdom; Deal Will Inject Funding to Help Accelerate Uk Expansion

SCOTTISH luxury housebuilder Manor Kingdom, which has built upmarket homes for footballers and businesspeople, has been acquired by property developers Remo Dipre and David Gaffney in a deal worth tens of millions of pounds. The Dunfermline-based company will remain independent under its new owners and will keep its headquarters in Scotland. The main change will be the injection of additional funding to help accelerate the existing strategy of expanding into new parts of the UK and boosting m...

Smart Money On Residential Property

J SMART, the listed construction minnow, yesterday reported another year of healthy trading amid a buoyant residential property market. Reporting preliminary results for the year to July 31, the Edinburgh building contractor unveiled a dip in pre-tax profits and flat sales after stripping out exceptional items in the same period of 2003.

Worrying Increase in Imports As Uk Industry Downsizes

MOST analysts have predicted that the gross output of UK farming will decline following implementation of the Common Agricultural Policy reforms. That forecast is based on the fact that with support decoupled from production, farmers will no longer be obliged to grow crops or keep livestock on the scale they have done for many years.

Maclay Ties Up with City Law Partnership; Firm Pushes Ahead of Scots Rivals with London Merger

Maclay Murray & Spens has nudged ahead of its big Scottish law firm rivals through a London merger with City Law Partnership, a financial services specialist whose clients include Aberdeen Asset Management. Maclays opened an office in Aberdeen last year, and the merger takes its London partners from 11 to 16 and staff from 80 to 110, as it battles to offset weaker corporate activity and growing competition in Scotland.

West of Scotland to Receive European Funding Worth (Pounds) 8m

MORE than 40 business and economic projects in the west of Scotland are to receive almost (pounds) 8m of new European funding money, the Scottish Executive revealed yesterday. Allan Wilson, deputy mini-ster for enterprise, announced the investment yesterday during a visit to Strathclyde University in Glasgow, and claimed the new money would create about 2000 jobs and help more than 2200 businesses.

Knight Is Ready for Cut and Thrust; Trainer Reports Edredon Bleu in Great Form Ahead of Gold Challenge

IT can be sad indeed when the passage of time takes the edge off champions in their chosen sport, but trainer Henrietta Knight is hoping Edredon Bleu still has enough zip in his limbs to give a good account of himself in this afternoon's feature race. The former champion chaser is going for a hat trick of victories in the Haldon Gold Cup at Exeter, but if the treble is to be achieved, Knight believes her old chap will have to be at his best.

Captain Bulloch Believes Scots Can Secure Genuine 'Home' Victory Over Australia

A HOME-based Scotland XV could prove itself capable of challenging the world's best if they defeat Australia, according to Gordon Bulloch. As the captain prepared for the rare distinction of leading out a team which will probably be made up exclusively of players from Scotland's three professional sides, Bulloch said yesterday that they have what it takes to tackle the Wallabies and are ideally prepared for the first autumn Test match at Murrayfield on Saturday.

Gallacher Can Now Rest and Be Thankful; Scot Begins Well-Earned Break After Taking Over As Standard-Bearer

It might have been a rather stuttering, jaded finish to the season but as Stephen Gallacher flew home to Bathgate yesterday on his 30th birthday he could afford to congratulate himself on a mission accomplished after he became Scotland's new standard- bearer. The Loch Lomond club's touring professional limped home in 44th place in the Volvo Masters at Valderrama and finished the season with official earnings of e1,144,157. That was enough to cling on to top 15 status on the order of merit by ...