The Scottish economy had shown healthy growth before contracting in April, but the cost of living crisis, inflation and interest rate rises are curtailing consumer and business spending, according to the Fraser of Allander Institute at the University of Strathclyde. Source

The grim reality facing Scottish employers emerged today as 84 per cent of them report skills shortages, reduced output, growth profitability and the damage done to staff wellbeing. Source

THE oil and gas sector contributes £16 billion to the Scottish economy and provides more than 82,000 jobs, new research by a trade body for the industry has found. Source

ENVIRONMENTAL campaigners are calling on the Scottish Government to end support for hydrogen technologies after a new report exposed “inefficiencies, soaring costs and a threat to renewable energy supplies”. Source

The ‘Beyond Launch’ conference at the HALO Enterprise and Innovation Hub in Kilmarnock saw Scotland’s space industry experts present the benefits of Prestwick’s space cluster, showcasing the opportunities that space supply chain activities can bring to the local economy, including the creation of thousands of new jobs. Source

BP HAS paid tax on its operations in the North Sea for the first time in at least six years, according to a company report. Source

Santander is planning to cut 87 jobs at one of its biggest Glasgow branches – and move them to India. Source

New economic analysis estimates that Scottish universities are running deficits that are subsidised by staff and shortfalls in financing the sector’s development. Source