Here are the business stories making the headlines across Scotland and the UK this morning.
Ryanair investigated over charging parents to sit with children
Ryanair is being investigated by the UK's competition watchdog over charges it imposes on parents to sit next to their child on flights.
The Competition and Markets Authority (CMA) said it was looking into whether the airline's policy, which the watchdog said typically led to a fee of £8 each way, was "unfair" under consumer law.
It said Ryanair's terms and conditions state a parent must sit with their child if aged between two years and 11, and this is done through what the airline calls a "mandatory family seat" that the parent must pay a fee for.
Read more here.
UK economy shrank by 0.1% in April
The UK's economy contracted by 0.1% in April, the latest official data has shown.
The Office for National Statistics (ONS) said the fall was driven by a decline in output from the key services sector, which was partially offset by a rise in construction.
A slight contraction for April had been predicted by analysts, after the economy saw stronger than expected growth in March as people brought forward spending due to concerns about the war in the Middle East.
Read the full story on the BBC website.
ECB raises interest rates for first time in three years
The European Central Bank has raised interest rates for the first time in three years in an attempt to tame inflation in the eurozone driven up by the US-Iran war.
The bank’s governing council tightened the single currency bloc’s benchmark interest rate from 2 per cent to 2.25 per cent, a move widely expected by financial markets.
Average inflation in the eurozone rose to 3.2 per cent in May, up from 1.9 per cent before the closure of the Strait of Hormuz in early March. Energy price inflation rose by 11 per cent last month, compared with the same period last year, with global oil prices up nearly 50 per cent since the start of the war.
Get the full story in The Times.
Banks running up ‘huge bills from AI experiments’
Banks are racking up bills worth hundreds of millions from experiments with artificial intelligence tools, according to the boss of an Aim-listed tech company.
Ben Faes, chief executive of RWS, said that businesses were becoming increasingly conscious of the costs involved, without a clear outcome on how it should be used.
“It is very exciting, but you know the cost of playing around with all this AI is rising quite dramatically,” he said.
Find the full story in The Times.
Shetland island road tunnel to open by 2034 under advanced plan
The first tunnel to connect islands in Shetland could be open by 2034, council leaders have claimed.
Maggie Sandison, the chief executive of Shetland Islands council, said that the 4.2-mile tunnel proposed between Yell and the mainland was the most advanced of four under consideration.
Hannah Mary Goodlad, recently elected as MSP for Shetland, confirmed that the Scottish government was committed to exploring funding options.
Read more in The Times.
First look inside revamped Bucksburn Swimming Pool after £2.1m facelift
Final preparations are being made at Bucksburn Swimming Pool for its reopening — three years after council cuts forced its closure.
The Kepplehills Road pool has undergone extensive refurbishment over the last year.
And The Press and Journal has been granted exclusive behind-the-scenes access at the much-loved facility, only days before its reopening.