Pensions giant could quit an independent Scotland

Pensions and savings giant Standard Life has become the first major Scottish business to warn that it could quit Scotland if it becomes independent.

The warning comes from its chairman Gerry Grimstone in its annual report. He says Scotland has been a great base for the company, but if anything were to threaten that, it would take whatever action it considered necessary. That includes transferring parts of its operations from Scotland. Chief Executive David Nish says Standar Life has started work to establish additional registered companies to operate outside Scotland.