Here are the business stories making the headlines across Scotland and the UK this morning.
UK will not join Trump's blockade of Iran's ports in the Strait of Hormuz
The UK will not be involved in enforcing the US military blockade of Iran, the BBC understands.
British naval ships and soldiers will not be used to block Iranian ports, while UK minesweepers and anti-drone capabilities will continue operating in the region.
A spokesperson for the UK government said: "We continue to support freedom of navigation and the opening of the Strait of Hormuz, which is urgently needed to support the global economy and the cost of living back home."
The US announced the blockade after talks with Iran failed to secure a lasting peace deal to end hostilities in the Middle East, as Prime Minister Sir Keir Starmer urged "de-escalation" in the region.
Aberdeen firm warns North Sea future hinges on windfall tax changes
Calls for reform of the UK’s windfall tax regime are growing louder in the North-east, with experts warning current policy is putting investment in the North Sea at risk.
Accountancy and consulting firm RSM UK says changes to the Energy Profits Levy are critical if the region is to unlock future growth, despite continued resilience across the sector.
The firm, which has a 50-strong team in Aberdeen, has identified energy as a key focus area for the next two years.
Optimism among UK finance chiefs is lowest since Covid lockdown
The war in Iran has prompted British businesses to scale back investment and hiring, with corporate optimism having sunk to levels not seen since the first coronavirus lockdown.
As soaring energy costs raise concerns about inflation and interest rates, finance chiefs have become more defensive, preferring to conserve cash rather than invest, two closely watched surveys show.
Confidence among Britain’s chief financial officers is now at its lowest in six years, according to Deloitte’s monthly survey of CFOs who, once again, reported that geopolitics was the single biggest external risk to their businesses.
OpenAI signs lease on new London office
OpenAI signalled that it will more than double its UK workforce just days after pulling out of a major data centre project in Britain.
The ChatGPT developer has secured its first permanent London office, which has a capacity of 544 people, in the King’s Cross area, a hub for technology companies.
The company currently employs about 200 people in the capital across research, engineering, customer support, policy, communications, marketing and sales.