Here are the business stories making the headlines across Scotland and the UK this morning.
Scotland 'at risk' of falling behind UK on tax and business
Scotland risks falling behind the rest of the UK unless ministers cut taxes and reduce the cost of doing business, the country’s largest business organisation has warned.
The Scottish Chamber of Commerce has urged the Scottish Government to use Tuesday’s Programme for Government to overhaul business rates and restore Scotland’s tax competitiveness.
The business group has also backed the Press & Journal's Fresh Start campaign to boost Scotland's High Streets.
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US and Iran trade strikes for first time in weeks
Iran and the US have traded strikes after American forces attacked two rocket launchers on Larak Island in the Strait of Hormuz.
The first known US strikes on Iran since late July killed two people and injured two others, according to Iran's Islamic Revolutionary Guard Corps (IRGC), which vowed "response and punishment".
US Central Command (Centcom) said its had taken "limited, precise action" against "minelaying forces posing an imminent threat in the Strait of Hormuz".
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'Terrorist connection' over Trump Turnberry vandalism charges
Seven people accused of vandalism at Donald Trump's Turnberry golf resort have been charged with an offence alleged to have a "terrorist connection".
The allegation is contained in an indictment lodged with the High Court of Justiciary in Glasgow over the incident that happened at the Ayrshire resort during a protest on 8 March 2025.
It states that the offence was aggravated under Section 31 of the Counter-Terrorism Act 2008, as amended by the Counter-Terrorism and Sentencing Act 2021, because it had a "terrorist connection".
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AI 'threatens to unleash global market downturn'
Andrew Bailey, the Governor of the Bank of England, has warned of a severe downturn in global stock markets if the AI bubble bursts.
In a letter to G20 finance ministers, Mr Bailey raised concerns over the economic fallout if the debt-fuelled AI investment boom begins to unravel.
He warned that the soaring levels of debt that have been used to fund AI “could amplify a future market correction”.
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ScottishPower fully recycles Hagshaw Hill wind farm in UK first
One of Britain’s earliest wind farms has been fully recycled and reused, in a first that could herald the start of a new domestic sustainable energy recycling industry.
Scottish Power said an external review of the decommissioning of old turbines from its Hagshaw Hill wind farm in Scotland showed that less than 0.1 per cent had been sent to landfill.
The breakthrough for the project came after Northern Ireland-based Plaswire pioneered ways of recycling old wind turbine blades, which have historically been hard to dispose of sustainably.
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