Here are the business stories making the headlines across Scotland and the UK this morning.
Trump threatens 100% tariff on European nations over tech tax
US president Donald Trump has vowed to impose a 100% import tariff on any European country that introduces a digital services tax on American technology giants.
Writing on his Truth Social platform, Trump said "numerous European countries" had been discussing bringing in such a levy and some were close to doing so.
He warned that the punitive penalties would be applied immediately and would completely "supersede" any existing bilateral trade agreements.
Read more on the BBC website.
Global central bank warns of Liz Truss-style bonds crisis
Global governments are at risk of a sharp rise in their borrowing costs caused by bond “fire sales” from hedge funds and skittish investors, a leading central banking authority has warned.
The Bank for International Settlements (BIS), known as the “central bank of central banks”, has warned of a new “fiscal-financial stability nexus” in the global economy, where bond markets are vulnerable to sudden shortages in liquidity that can imperil government finances — mirroring the dynamics in the UK gilt market after Liz Truss’s 2022 mini-budget.
The combination of high public debt levels with the increased presence of hedge funds, who use leverage to own government bonds, has created “new vulnerabilities” for governments who rely on investors to fund their borrowing, it said.
Read the full article in The Times.
US says it has agreed with Iran to 'stand down' after trading strikes, reports say
The US and Iran have agreed to "stand down" following an exchange of strikes over the past few days, media reports say citing a US official.
It comes after several attacks in and around the Strait of Hormuz, culminating in both nations accusing each other of violating their ceasefire.
The official confirmed to the BBC's US partner CBS News that vessels will now be able to move through the waterway "freely", and added that renewed talks aimed at ending the war will continue.
British salmon may lose organic status over ‘factory farm’ claims
Salmon farms face being stripped of their organic status over growing environmental and welfare concerns.
The Soil Association, the charity which certifies British organic salmon farms on behalf of the government, will decide in October whether to walk away from the sector or stay to drive up standards.
The regulator has become increasingly frustrated with high fish mortality rates, environmental pollution and unsustainable feeding practices.
Read more in The Times.