Scottish Business Briefing - Thursday October 18th 2012 Citigroup to axe one in six Edinburgh posts AROUND one-sixth of posts at Citigroup's funds administration business in Edinburgh are to be axed as the US banking giant moves work to lower cost locations. Citigroup said it is committed to retaining a base in the capital. Global Energy takes majority stake in Vertech Global Energy Group, the Inverness-based company, yesterday announced its third deal in the Australian market in as many years. The energy services business has bought a majority stake in Perth-based offshore services firm Vertech Group for an undisclosed sum. scotsman Greaves dips into the red GREAVES Sports is confident it is pursuing the right course to get back into profit after annual accounts showed it fell into the red. In documents filed at Companies House the Glasgow business reported a £308,634 pre-tax loss for the 12 months to January this year, against a profit of £46,193 in the previous period.