Here are the business stories making the headlines across Scotland and the UK this morning.
Ousted BP chairman hits back over ‘excessive’ spending
The ousted chairman of BP has attacked a culture of “excessive” spending at the oil giant, including purchasing tickets for sports events such as Wimbledon.
Albert Manifold suggested he had been forced out of BP after raising concerns over “unnecessary expenditure”.
In a 769-word statement published on Thursday, Mr Manifold said he had been the victim of “lies” from people hiding behind “anonymity”.
Labour donor faces £600k legal bill after dropping libel claim
Dale Vince, the green energy tycoon and Labour donor, faces an estimated £600,000 bill including punitive legal costs after dropping a libel claim against a Conservative peer.
A senior judge ruled on Wednesday that Vince must pay costs to Lord Bailey of Paddington, a former Tory London mayoral candidate, on the so-called indemnity basis because of “the unexplained abandonment” of the energy boss’s claim that he had been defamed.
The decision from Lord Justice Warby in the Court of Appeal came after Vince agreed to pay “substantial” libel damages to Bailey. Vince had dropped his own claim regarding comments he had made on Times Radio.
Caesars Palace owner agrees $17.6bn takeover
Tilman Fertitta, the American hospitality billionaire who is serving as US ambassador to Italy, has struck a $17.6billion deal to buy the casino operator behind Caesars Palace in Las Vegas.
Texas-based Fertitta Entertainment, owned by Fertitta, has agreed an all-cash offer for Caesars Entertainment, in a deal that will take one of the Las Vegas Strip’s most-prized casino operators private.
Caesars controls more than 50 casinos across North America including Caesars Palace, Harrah’s and Eldorado. It also runs a retail and online sports-betting app.
Ferrari boss defends new electric car after backlash
The boss of Ferrari has defended its new €550,000 (£475,000) electric vehicle (EV) after its launch was met with widespread derision this week.
Benedetto Vigna, the company’s chief executive, said new and existing Ferrari customers had already placed orders for the Luce vehicle, despite a backlash from Italian politicians, former executives and car enthusiasts because of the design.
This included claims that the Luce closely resembled Nissan’s cheap, mass-market EV, the Leaf, which sells for about £32,000 in the UK. Luca Cordero di Montezemolo, the company’s former chairman, said the Luce “risks destroying the myth” of Ferrari.