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Daily Record
3 days ago
- Entertainment
- Daily Record
Brian Cox takes on role of Adam Smith in new show set for Fringe
The Dundee-born star, who played fearsome media tycoon bully Logan Roy in TV hit Succession, is returning to Scotland for his scariest role in decades It was the banking disaster that brought an old Scottish institution to its knees and sent shockwaves around the globe in the worst financial collapse of modern times. Now actor Brian Cox has set his sights on tormenting the man responsible for it. The Dundee-born star, who played fearsome media tycoon bully Logan Roy in TV hit Succession, is returning to Scotland for his scariest role in decades – as a ghost of one of the country's most famous sons. And Fred 'The Shred' Goodwin is his target. Cox plays the spectre of Adam Smith, known as the father of modern economics, returning from beyond his 18th century grave to haunt Goodwin, who became one of the most reviled figures in modern Scottish history after his role in the collapse of the Royal Bank of Scotland. Smith was a key figure of the Scottish Enlightenment, when Edinburgh became a centre of modern philosophy, elevating figures like him, David Hume and James Hutton and their progressive view of civilisation on to the world stage and into history. And for the 79-year-old actor, haunting the shamed banker from beyond the grave is the theatre role of a lifetime. Cox, who suggested he played the part of Smith himself, said: ' Fred Goodwin was unbelievably self-serving with his singularity of purpose. He certainly wasn't serving his community. 'This guy said he was a follower of Adam Smith but he got it all wrong. Smith wrote two books, The Theory of Moral Sentiments and then The Wealth of Nations, which was all about how wealth is distributed and who it is distributed to. 'When people think about Adam Smith now, they often think it was all about economics. But it was also about moral welfare. And the reason Goodwin got it all wrong was because he only followed only the second book. He didn't see the books in relation to one another. And the degree of selfishness that Goodwin pursued almost destroyed the RBS.' Cox plays the ghost of the celebrated thinker in a new tragi-comedy by award-winning writer James Graham, opposite Sandy Grierson as the banker responsible for the financial cataclysm. Dubbed Make it Happen, the National Theatre of Scotland production opened on Friday in the actor's home town of Dundee, and transfers to Edinburgh for the International Festival next month. Cox said: 'It's 16 years since 2008 so there's enough time passed now to tell the story. It deals with Fred's election right through to his demise. James Graham's script is pure satire. It's brilliant. 'Adam Smith has been summoned as a spirit because Goodwin has made such a mess of things. He's been summoned up because he's the guy who holds the truth. It's told in an original way and it's very funny. Smith came from Kirkcaldy and he can't believe the town produced a prime minister in Gordon Brown. 'It shows the folly of human nature, how we simply don't progress, and how greed is such a curse of who we are. Always wanting more.' The impact of the so-called economic downturn of 2008 can still be felt today after Brown's government pumped £45billion into the stricken bank, recovering only £35billion since. Goodwin had his knighthood removed but retained his £700,000 pension. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Playwright Graham describes watching the role of then-chancellor Alistair Darling with PM Brown as 'a huge Shakespearean rise and fall'. He said: 'It has always amazed me that there hasn't really been any change in society's model after 2008. We just limped on with the same structures. I wanted to examine that.' Cox moved to London from the US with his wife Nicole earlier this year but still gets emotional when talking about his home city. Despite major cultural successes such as Dundee Rep, the V&A Museum and Dundee Centre for Contemporary Arts, the city has suffered a rise in social problems, mainly linked to addiction. Last year a national report revealed a 92 per cent rise in drug-related deaths since 2013. Cox said: 'I've been critical about what's going on in Dundee and I can't keep my mouth shut about it. It goes back to the social engineering decades ago when they moved people out of the cities. 'They did it in Glasgow then they did it in Dundee. You lived with your neighbour for 40 years and then they moved you out and made sure those neighbours didn't live together again. 'A city is the people and when you move them into the outskirts it leads to drug addiction then criminality because that's what happens when there aren't enough community elements in place.' Cox has held the Tayside city close, filming BBC Scotland comedy Bob Servant there in the 2010s. He even shot an episode of Succession in the city but admits he was annoyed when Logan Roy's background was changed mid-series. He said: 'I always said he could be Scottish but they insisted American. For nine episodes he was from the States, and from the first episode we were celebrating his birthday and he gave a speech saying he had come from Quebec, which is obviously Canada, not the US. 'Then in the ninth episode of the first series, they suddenly tell me Logan's from Dundee. I was really angry about that. I went up to Jessie and asked him what was going on and he said, 'We thought it would be a little surprise.' Well it was a hell of a surprise. 'I've been playing the part in one direction and then in the ninth episode I'm suddenly a Dundonian. The thinking was that he left Dundee when he was three or four, as part of the transport of kids who went from Scotland to Canada at the start of the war. I accepted that. But it was ridiculous.' Cox is breaking unfamiliar ground with Make It Happen, testing his range in singing. "I have a duet with Sandy Grierson, apparently,' he said. 'I used to sing when I was younger, and my son is a very good singer but I got nervous about it when the acting all kicked off. I would have liked to have sung earlier on.' ● Make It Happen is at Dundee Rep until July 26 then at Edinburgh Festival Theatre from July 30 to August 9.
Daily Record
09-07-2025
- Business
- Daily Record
People with money in a savings account urged to check it now
Savers are being warned to act fast as interest rates are due to drop at major high street banks. Personal finance site Finder is warning savers to act now or risk missing out, as two of the UK's biggest banks will drop their savings rates in a week's time, with a further two banks dropping rates the following week. Finder experts have been tracking savings rate changes and nine popular banks, including the 'big four', have all either slashed rates since the last interest rate cut or scheduled a drop in their savings rates. Eight accounts at NatWest and Royal Bank of Scotland (RBS) will be impacted on July 15, including four instant access savings products, with both banks lowering the rate on these offerings from 1.25 per cent to 1.15 per cent. Other accounts affected include children's savings accounts, where the rates will be dropping from 2.25 per cent to 2.05 per cent. Finder also said that customers at HSBC and Co-op Bank should also be prepared for rate drops this month. The rates on two HSBC accounts - Flexible Saver and Online Bonus Saver - are going from 1.35 per cent to 1.3 per cent on July 21. Meanwhile, four different Co-op Bank savings rates will be slashed on July 23, with the Online Saver and Online Cash ISA dropping from 2.34 per cent to 2.12 per cent, and the Cash ISA and Smart Saver dropping from 1.62 per cent to 1.53 per cent. The decision to lower these rates came after the Bank of England made the decision to cut the base rate from 4.5 per cent to 4.25 per cent in May, although the base rate was held at the most recent meeting in June. Kate Steere, personal finance expert at Finder, said: 'If you were earning the new NatWest or RBS rate of 1.15 per cent AER with the amount we found the average Brit has saved (£16,067), you'd get just £185 in interest over the course of a year. There are much more competitive rates available. 'For example, if you opened a Plum Cash ISA with a rate of 4.98 per cent AER (including a 12-month 1.69% bonus) using the £16,000, you could earn up to just over £800 in interest over the year (dependent on any rate changes) - a potential £600 boost to your savings. 'Lots of analysts are predicting a further cut to the base rate in August. With the next meeting less than a month away, it's essential to act fast if you want to get the most from your savings. 'Variable rates are subject to change so if you are still looking to use your 2025/26 ISA allowance - and you can afford to lock your cash away - now is also a great time to seek out a good deal on a fixed-rate ISA. 'Using the full tax-free allowance is more important than ever with reports that Rachel Reeves will announce a cut to the Cash ISA limit in her Mansion House speech next week. Currently, Cynergy Bank is offering 4.32 per cent AER for a 1-year fix.'
The National
08-07-2025
- Business
- The National
Business confidence in Scotland at highest level in 8 months
The private sector also saw its strongest rise in activity since November, the bank's growth tracker found. BUSINESS confidence has risen to its highest level in eight months, according to a Royal Bank of Scotland (RBS) survey. Overall, the combined output of Scotland's manufacturing and service sectors rose from a score of 50.5 in May to 50.9 in June. It marks the second consecutive monthly rise in business activity. READ MORE: 'What do they stand for?': What we learned about Labour from new poll of 7000 voters RBS said that while the uptick was modest overall, it was the strongest since November 2024. The growth was driven entirely by the services sector with new project funding and a rise in demand underscoring the uptick. Manufacturing continued to fall sharply, the tracker found. Overall, business confidence improved to its highest level of optimism in eight months. Judith Cruickshank, chair of the One Bank Scotland Board, said: 'Scotland's private sector recorded a sustained uptick in activity at the end of the second quarter, with growth predominantly driven by service providers. 'In contrast, the manufacturing sector faced a challenging demand environment, leading to overall declines in new business and production. 'Despite these sectoral differences, firms exhibited increased optimism about the future, with manufacturers reporting positive growth forecasts for the first time in three months. 'In June, private sector firms encountered sharply rising operating costs, but selling price inflation slowed notably. This suggests a willingness among businesses to absorb some costs to bolster sales. 'The employment landscape remained broadly stable compared to the previous month, with sector data continuing to highlight diverging trends between manufacturers and service providers.' The UK as a whole saw output growth rise to a nine-month high, the tracker found, driven by expansions in business activity across eight of the 12 nations and regions monitored by the survey. Companies in Scotland recorded a ninth successive monthly fall in incoming new orders during June. The reduction in new work was centred on the manufacturing sector as services firms reported another expansion. UK-wide, new business rose for the first time in seven months. In Scotland, private sector companies remained optimistic about the year-ahead for activity in June. The degree of positive sentiment rose for a third straight month to the highest since October but was weaker than that recorded for the UK as a whole. Confidence across Scotland was supported by plans to introduce new product lines, improved operational performance, and strategic marketing efforts, the survey found. And after a slight rise in employment in May, Scotland's workforce numbers were broadly unchanged in June. Services firms reported increases in staffing levels amid upturns in new business and activity. However, this was offset by another month of job shedding at manufacturers. A near universal fall in headcounts was also recorded across the 12 monitored UK regions and nations, with Northern Ireland being the sole exception. Among the remaining areas, Scotland experienced the least pronounced drop in employment and one that was only 'fractional', RBS said. Since mid-2024, Scottish firms have continued to record a drop in backlogs of work, although June's rate of depletion was the weakest in eight months. RBS said that the fall is driven by a lack of orders in manufacturing which has allowed firms to complete outstanding orders. According to the survey, Scottish firms signalled another marked increase in average input costs during June. It found the rate of inflation quickened from May and was 'historically elevated'. Survey respondents often reported higher costs for materials, labour and energy, as well as rising supplier prices. READ MORE: Ancient neolithic festival site unearthed ahead of planned football pitches However, the rise was less pronounced in Scotland compared to the UK as a whole. Firms north of the order also raised their output prices at a reduced rate in June. RBS described the latest increase in charges as 'solid' but still amounted to the slowest rate in 11 months and was similar to the UK-wide average. Where higher charges were recorded, they were primarily attributed to the pass-through of increased operating expenses to customers.
STV News
08-07-2025
- Business
- STV News
Business confidence at highest level in eight months, RBS finds
Business confidence has risen to its highest level in eight months, according to a Royal Bank of Scotland (RBS) survey. The private sector also saw its strongest rise in activity since November, the bank's growth tracker found. Overall, the combined output of Scotland's manufacturing and service sectors rose from a score of 50.5 in May to 50.9 in June. It marks the second consecutive monthly rise in business activity. RBS said that while the uptick was modest overall, it was the strongest since November 2024. The growth was driven entirely by the services sector with new project funding and a rise in demand underscoring the uptick. Manufacturing continued to fall sharply, the tracker found. Overall, business confidence improved to its highest level of optimism in eight months. Judith Cruickshank, chair of the One Bank Scotland Board, said: 'Scotland's private sector recorded a sustained uptick in activity at the end of the second quarter, with growth predominantly driven by service providers. 'In contrast, the manufacturing sector faced a challenging demand environment, leading to overall declines in new business and production. 'Despite these sectoral differences, firms exhibited increased optimism about the future, with manufacturers reporting positive growth forecasts for the first time in three months. 'In June, private sector firms encountered sharply rising operating costs, but selling price inflation slowed notably. This suggests a willingness among businesses to absorb some costs to bolster sales. 'The employment landscape remained broadly stable compared to the previous month, with sector data continuing to highlight diverging trends between manufacturers and service providers.' The UK as a whole saw output growth rise to a nine-month high, the tracker found, driven by expansions in business activity across eight of the 12 nations and regions monitored by the survey. Companies in Scotland recorded a ninth successive monthly fall in incoming new orders during June. The reduction in new work was centred on the manufacturing sector as services firms reported another expansion. UK-wide, new business rose for the first time in seven months. In Scotland, private sector companies remained optimistic about the year-ahead for activity in June. The degree of positive sentiment rose for a third straight month to the highest since October but was weaker than that recorded for the UK as a whole. Confidence across Scotland was supported by plans to introduce new product lines, improved operational performance, and strategic marketing efforts, the survey found. And after a slight rise in employment in May, Scotland's workforce numbers were broadly unchanged in June. Services firms reported increases in staffing levels amid upturns in new business and activity. However, this was offset by another month of job shedding at manufacturers. A near universal fall in headcounts was also recorded across the 12 monitored UK regions and nations, with Northern Ireland being the sole exception. Among the remaining areas, Scotland experienced the least pronounced drop in employment and one that was only 'fractional', RBS said. Since mid-2024, Scottish firms have continued to record a drop in backlogs of work, although June's rate of depletion was the weakest in eight months. RBS said that the fall is driven by a lack of orders in manufacturing which has allowed firms to complete outstanding orders. According to the survey, Scottish firms signalled another marked increase in average input costs during June. It found the rate of inflation quickened from May and was 'historically elevated'. Survey respondents often reported higher costs for materials, labour and energy, as well as rising supplier prices. However, the rise was less pronounced in Scotland compared to the UK as a whole. Firms north of the order also raised their output prices at a reduced rate in June. RBS described said the latest increase in charges was 'solid' but still amounted to the slowest rate in 11 months and was similar to the UK-wide average. Where higher charges were recorded, they were primarily attributed to the pass-through of increased operating expenses to customers. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Scotsman
08-07-2025
- Business
- Scotsman
What lies ahead as Scotland's private sector output hits seven-month high
'Scotland's private sector recorded a sustained uptick in activity at the end of the second quarter, with growth predominantly driven by service providers.' Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scotland's private sector has recorded the strongest rise in output in seven months as companies absorb inflationary pressures to bolster sales. Royal Bank of Scotland's latest growth tracker - a seasonally adjusted index that measures the month-on-month change in the combined output of Scotland's manufacturing and service sectors - rose to 50.9 last month from 50.5 in May. This marked a second consecutive monthly rise in business activity. Advertisement Hide Ad Advertisement Hide Ad While the uptick was modest overall, RBS noted that it was the strongest result since November 2024. Private sector activity growth remained solely driven by the service sector, which includes the likes of retail and hospitality. As was the case in May, activity growth remained solely driven by the nation's service sector. Service providers noted that new project funding and a rise in demand underscored the uptick in activity. In stark contrast, manufacturing production continued to fall sharply, according to the latest tracker report, published today. The sustained rise in overall activity was accompanied by improved confidence regarding the year ahead outlook for output. Notably, the degree of optimism was the strongest in eight months, RBS added. Judith Cruickshank, chair of the Scotland board at Royal Bank of Scotland, said: 'Scotland's private sector recorded a sustained uptick in activity at the end of the second quarter, with growth predominantly driven by service providers. In contrast, the manufacturing sector faced a challenging demand environment, leading to overall declines in new business and production. Advertisement Hide Ad Advertisement Hide Ad 'Despite these sectoral differences, firms exhibited increased optimism about the future, with manufacturers reporting positive growth forecasts for the first time in three months. The manufacturing production sector continued to face challenges. 'In June, private sector firms encountered sharply rising operating costs, but selling price inflation slowed notably. This suggests a willingness among businesses to absorb some costs to bolster sales. 'The employment landscape remained broadly stable compared to the previous month, with sector data continuing to highlight diverging trends between manufacturers and service providers,' she added. The UK as a whole saw output growth accelerate to a nine-month high, driven by expansions in business activity across eight of the 12 nations and regions monitored by the closely-watched survey. Advertisement Hide Ad Advertisement Hide Ad Companies north of the Border recorded a ninth successive monthly fall in incoming new orders during June. That reduction in new work was centred on the manufacturing sector, as service-focused firms reported a further expansion. Although the overall rate of decrease was stronger than that seen in May, it was modest overall. Private sector companies operating in Scotland remained optimistic about the year-ahead outlook for activity during June. The degree of positive sentiment edged up for a third straight month to the highest since October 2024, but was weaker than that recorded for the UK as a whole. Confidence across Scotland was supported by plans to introduce new product lines, improved operational performance and 'strategic marketing efforts'. After a slight rise in employment in Scotland in May, workforce numbers were broadly unchanged last month. Sector data signalled that services firms increased their staffing levels amid upturns in new business and activity. However, this was offset by another month of job shedding at manufacturers. Advertisement Hide Ad Advertisement Hide Ad A near universal fall in headcounts was noted across the 12 monitored UK regions and nations, with Northern Ireland being the sole exception to this trend. Among the remaining areas, Scotland experienced the least pronounced drop in employment and one that was described as 'fractional'. Nearly all of the 12 monitored UK regions and nations recorded a drop in backlogs in June. The north-east of England was the only area where levels of outstanding work rose. Scottish companies signalled a further marked increase in average input costs last month. The rate of inflation quickened from May and was 'historically elevated', the report noted. Panellists often reported higher costs for materials, labour and energy, as well as rising supplier prices. Firms across Scotland raised their output prices at a reduced rate in June. Though solid, the latest increase in charges was the slowest in 11 months and similar to that seen on average across the UK as a whole. Where higher charges were recorded, they were primarily attributed to the pass-through of increased operating expenses to customers. Advertisement Hide Ad Advertisement Hide Ad Life or death The largely positive findings from the latest growth tracker contrast with last week's quarterly economic indicator from the Scottish Chambers of Commerce (SCC). That report suggested that businesses across all sectors were feeling the strain of April's 'life or death' hike in employer national insurance payments, putting growth plans on hold. The survey of more than 400 firms north of the Border found that while confidence and sales actually improved over the quarter, ongoing cost pressures and concerns continued to impact growth and investment. The indicator, which is produced in partnership with the University of Strathclyde's Fraser of Allander Institute, found that taxation concerns have risen sharply in the past year, with 70 per cent of businesses citing increased worries regarding taxes, compared to 50 per cent in the second quarter of 2024. The SCC's report also highlighted 'significant challenges' around cashflow and profits, despite positive sales trends across the board. Doug Smith, vice president of the Scottish Chambers of Commerce and chairman of the SCC Economic Advisory Group, said: 'The latest findings paint a troubling picture: investment is frozen, employment is stagnating and concerns are growing around taxation at a time of economic uncertainty around tariffs, immigration, tax and general fiscal policy. Advertisement Hide Ad Advertisement Hide Ad
