Here are the business stories making the headlines across Scotland and the UK this morning.
Spotify to axe 1,500 workers to save costs
Swedish music-streaming giant Spotify has announced it is cutting 17% of its workforce, about 1,500 jobs, as the company seeks to clampdown on costs.
Chief executive Daniel Ek said he had made the "difficult" decision with economic growth slowing "dramatically".
Spotify employs about 9,000 people, and Mr Ek said "substantial action to rightsize our costs" was needed for the company to meet its objectives.
He added he understood the cuts would be "incredibly painful for our team".
"I recognize this will impact a number of individuals who have made valuable contributions", Mr Ek said. "To be blunt, many smart, talented and hard-working people will be departing us."
Cruisin’ for a boozin’? Aberdeen pubs ‘stifled’ as they can’t open early for cruise ship passengers
Thirsty cruise passengers arriving in Aberdeen in the morning are being frustrated by “stifling” licensing rules, a city pub group has claimed.
PB Devco, which runs 10 Aberdeen venues, has suggested Granite City bars are being “penalised” by mandatory limits on how long they can be open.
Currently, licensed premises are unable to remain open longer than 15 hours a day.
For venues which function late into the evening, this rules out any chance of an early opening time.
Britain’s stagnant economy is costing workers £10k a year, says think tank
Britain’s stagnant economy has cost workers more than £10,000 a year in lost wages, according to a think tank that warned the UK will remain stuck in a low growth trap without radical reform.
The Resolution Foundation described 15 years of flatlining earnings as a “disaster” for the world’s sixth largest economy, pushing the UK into relative decline compared with other rich nations.
It praised Britain’s “many strengths” including high employment rates, world class universities and strong adoption of technology.
However, it said they were overshadowed by a “deeply unsettling” longer-term picture that it blamed on a “low investment disease” in the public and private sector that has damaged productivity.
Abu Dhabi state-backed fund moves to take control of Daily Telegraph
An Abu Dhabi state-backed vehicle has moved closer to taking full control of The Daily Telegraph just hours after the launch of a regulatory probe that prevents it from removing key journalists from their posts.
Sky News has learnt that RedBird IMI has given the newspaper's board and the government notice of its intention to activate a call option that will convert loans secured against the Telegraph titles and Spectator magazine into shares.
The move was communicated to key stakeholders late on Friday, and came as nearly £1.2bn was being transferred to an escrow account prior to its release to Lloyds Banking Group early next week.
A Whitehall source confirmed this weekend that the government had been notified about RedBird IMI's move to exercise its option to take control of the shares.