Here are the business stories making the headlines across Scotland and the UK this morning.
Up to 150 ex-WHSmith High Street stores to close as rescue deal approved
The owner of TG Jones, WH Smith's former High Street business, has won approval for a sweeping restructuring which will see up to 150 shops close as well as steep rent cuts on most of the remaining stores.
Modella Capital bought the chain stores last year and they were then rebranded under the name TG Jones. There are currently 451 stores employing 4,700 workers.
WH Smith travel stores, in railway stations and airports, weren't part of the deal and the business kept the rights to the historic brand name.
Read more on the BBC website.
US blocks long-term renewal of North American trade deal
The US has declined to renew the landmark US-Mexico-Canada Agreement (USMCA) in its current form, according to a senior US official.
This decision means the trilateral trade pact will miss out on an automatic 16-year extension.
The official said the administration "chose not to rubber stamp a USMCA renewal without addressing existing issues," and "the United States did not agree to renew the USMCA in its current form".
Read the full BBC story.
Burnham showed 'lack of knowledge' about Scotland - Swinney
First Minister John Swinney has accused Andy Burnham of showing a "lack of knowledge" about Scotland after he suggested power was too concentrated in Edinburgh.
Burnham, who is expected to succeed Sir Keir Starmer as prime minister, vowed earlier this week to devolve power away from Westminster and Holyrood to generate prosperity across the UK.
The Labour MP described the Westminster system as "broken" and called for "radical" change.
Find the full BBC article here.
Sir Jim Milne on ‘honour’ of hosting Prince William at Aberdeen’s Marcliffe Hotel
Prince William visited Aberdeen’s Marcliffe Hotel during a special event at the city’s five-star venue.
The Prince of Wales arrived at the North Deeside Road hotel on Tuesday afternoon, where he was welcomed by owner Sir Jim Milne CBE and Lady Gillian Milne.
The future King was in the Granite City as part of his Homewards campaign, which aims to put an end to homelessness.
Read the P&J article here.
Getty blames UK regulator as it calls off $3.7bn Shutterstock merger
A $3.7 billion deal by Getty Images for Shutterstock has been called off after the UK competition regulator made its approval conditional on the sale of part of the business.
The major image-licensing companies had initially agreed to merge in January 2025 to combine forces against the rise of generative AI.
In May, the UK Competition & Markets Authority (CMA) approved the merger on condition that it disposed of Shutterstock’s editorial business to address concerns over the supply of news content in the country.
Read more in The Times.
Keir Starmer: SNP ‘pretended’ not to know Peter Murrell was stealing
Sir Keir Starmer has accused the SNP of “pretending” not to know that their former chief executive Peter Murrell was embezzling funds.
In his penultimate appearance at prime minister’s questions, Starmer he wanted to deliver “some home truths” to the Scottish nationalists, related to the scandal around Nicola Sturgeon’s estranged husband, in response to their “sanctimonious nonsense”.
Murrell, who ran the SNP as chief executive for more than two decades, was jailed for five years and three months last month for stealing more than £400,000 from the party over a 12-year period.
Get the full Times story here.
Reform donor’s fuel company linked to Russia-supplied refinery
Reform UK’s biggest donor owns a company contracted to supply fuel to aircraft from refineries that make extensive use of Russian oil, The Times can reveal.
The billionaire Christopher Harborne, 63, has interests varying from the cryptocurrency company Tether to the private jet-leasing firm Sherriff Global. He is also the owner of AML Global, a fuel supplier.
Harborne, a British-Thai dual citizen, has donated £15 million to Reform since last year, and gave Nigel Farage, the party’s leader, a gift of £5million shortly before he became an MP in 2024.
The full article is available on The Times website.