Here are the business stories making the headlines locally and across the country this morning.
Swinney to become SNP leader after challenger drops out
SNP leadership front-runner John Swinney is expected to succeed Humza Yousaf unopposed after a potential challenger withdrew his bid at the 11th hour.
Earlier it emerged that veteran SNP activist Graeme McCormick, who has been openly critical of the Scottish government, had secured a nomination.
However he then announced that although he had met the threshold of support needed to secure a nomination, he had decided not to proceed and would back Mr Swinney instead.
This came after a “lengthy and fruitful conversation” with Mr Swinney in which Mr McCormick said they had "agreed the challenges" which the SNP, the government and the people faced.
North Sea operator Hartshead Resources shares in trading halt
Australia-listed North Sea operator Hartshead Resources has been placed into a trading halt at the company’s request, pending an announcement.
In an update posted to the ASX, Hartshead said it will remain in trading halt until either the commencement of normal trading on Wednesday 8th May, or when the announcement is released to the market, whichever is earlier.
The announcement follows last week’s release of the third tranche of the North Sea Transition Authority (NSTA) 33rd licensing round award winners, where Hartshead was one of the big winners.
The Perth-headquartered firm received nine blocks in the Southern North Sea across five licences, with one each in partnership with Meridian Resources and Comtrack UK.
Low emission zone retrofit funding for North-east firms
North-east businesses can apply for a share of a new pot of cash to help them convert vehicles to comply with the low emission zone (LEZ) in Aberdeen.
LEZ rules banning non-compliant vehicles will be enforced in the city from June 1.
There are some exemptions, including Blue Badge holders and emergency services.
But anyone else caught driving in the zone will be fined £60 fine, or £30 if paid within 14 days.
HSBC to become latest major bank to remove bonus cap for UK staff
HSBC is set to become the latest major international bank to remove the European Union-imposed bonus cap that had applied to its UK-based workers.
The London headquartered lender's shareholders voted in favour of scrapping the limit at its Annual General Meeting (AGM), the company said.
The move was recommended by the board after the UK government ditched the cap following Brexit.
HSBC, which announced this week the imminent retirement of its chief executive on the back of better than expected profits, had argued that removing the cap would reduce its fixed costs.