Here are the business stories making the headlines across Scotland and the UK this morning.
US ambassador calls on Britain to use North Sea oil reserves
Britain must exploit its North Sea oil reserves as energy costs are too high for American and UK businesses in the country, the US ambassador has said, as prices spiral as a result of the Middle East war.
Warren Stephens told a British Chambers of Commerce trade conference in London that “intermittent power” from renewable sources “does not work” for an industrial and AI-powered economy, and that the UK could “have more influence over its domestic energy pricing, if not be a price-setter, by using its domestic fossil fuel reserves”.
He said: “The solution here is energy addition, not subtraction. In the modern economy, we need all forms of energy on the table, including oil and gas.”
Co-op boss steps down after ‘toxic culture’ allegations
The chief executive of Co-op Group is to step down after allegations of a “toxic culture” surfaced and the mutual fell into the red following a cyberattack.
The food-to-funerals group said Shirine Khoury-Haq had decided to leave after four years as chief executive and seven years with the business.
Kate Allum, a member-nominated director on the Co-op board, will replace her on an interim basis while the board searches for a permanent successor.
Petrol to top 150p a litre, warns RAC
Petrol prices are set to rise above £1.50 per litre on Friday for the first time in almost two years, the RAC has warned.
The roadside assistance company said the fuel had already risen to 149.82p per litre on average across the nation and was almost certain to tip above the 150p mark on Friday.
The war in Iran has already hit Britain’s drivers in the pocket, with petrol up by 17p so far this month. Diesel drivers have suffered an ever bigger jump in costs. They now pay an average of 176.66p per litre, up more than 34p since the US and Israel began their strikes on Iran.
Angela Rayner to launch podcast as she eyes Labour leadership
Angela Rayner is preparing to start a podcast called Beyond the Bubble as she seeks to broaden her appeal before a potential Labour leadership contest.
The former deputy prime minister has interviewed Lord Gove, the former Tory cabinet minister, as the star guest on the pilot, which is focused on housing.
Rayner and Gove both served as housing secretaries and they recently gave evidence together to a parliamentary committee about leasehold reform. Both championed legislation to give leaseholders and renters more rights while they were in office.
JustEat and Autotrader under investigation in probe into fake reviews
Just Eat and Autotrader are among five firms being investigated as part of a probe into fake and misleading online reviews by the UK's competition watchdog.
The Competition and Markets Authority (CMA), which is also investigating Feefo, Dignity and Pasta Evangelists, is looking at whether they have broken consumer law.
The investigation will focus on how reviews are obtained, moderated and presented to customers.
Meta and YouTube lawsuit verdict poses ‘serious issues’, legal experts say
Legal experts have said that a trial which found Meta and YouTube liable for harm caused to a young woman who became addicted to their platforms presents “serious issues”.
A jury in Los Angeles ruled on Wednesday that the companies were negligent in the way they designed their platforms after a 20-year-old woman sued over damage to her mental health.
The trial threatens to open the floodgates to an avalanche of claims from alleged victims. Thousands of similar lawsuits are already working their way through the courts.
Trump's signature to appear on US dollars in first for sitting president
Donald Trump is set to become the first sitting US president to have his signature on US banknotes, the treasury department has announced.
Trump's signature will appear alongside Treasury Secretary Scott Bessent, an unprecedented move that the department said would mark America's 250th anniversary.
The first $100 (£75) bills with the signatures of Trump and Bessent will be printed in June, with others to follow.