Here are the business stories making the headlines across Scotland and the UK this morning.
Energy firm leaving Rubislaw home for huge new base on outskirts of Aberdeen
An Aberdeen energy firm is plotting a move into huge new offices on the outskirts of the city following multi-million-pound takeover bids.
Independent North Sea operator Serica Energy will soon swap their offices in Rubislaw for the Aberdeen International Business Park in Dyce.
It’s part of the company’s ambitious plans to grow their operations across the UK.
TG Jones owner Modella Capital snaps up Flying Tiger Copenhagen
Modella Capital, the private equity firm, has snapped up yet another high street retailer for its portfolio after acquiring Flying Tiger Copenhagen for an undisclosed sum.
Founded in 2022, the London-based fund shot to prominence last year after buying up WH Smith’s former high street shops and renaming them TG Jones, adding to a portfolio of brands which includes Hobbycraft.
Modella said that the latest deal would accelerate Flying Tiger’s plans for international expansion, which include launches in Canada and El Salvador this summer and a global rollout of more than 700 new franchise stores by the end of the decade.
One in six young people will not be in work or training in five years without action, report warns
One in six young people will not be in education, employment or training within five years unless "urgent" action is taken, a major review has warned.
The education, health and welfare systems are "no longer fit for purpose" in preparing young people for adult life, said its author former minister Alan Milburn.
"We are at risk of a lost generation," he warned, with the number of 16 to 24-year-olds out of work, education or training set to rise to 1.25 million by 2031.
Samsung workers in line for $400k bonuses from AI boom
Workers in Samsung’s semiconductor division are in line to receive bonuses worth more than $400,000 after the company’s union struck a breakthrough deal to ensure they receive a portion of the windfall from the artificial intelligence boom.
The deal also ensures that Samsung has averted an 18-day strike, which could have been heavily disruptive to the global AI industry, given the company’s huge semiconductor business.
Under the agreement, the 78,000 workers in the semiconductor division will share 10.5% of the company’s operating profit, which will largely be paid in stock. Some members of staff are in line for a bonus worth as much as $416,000, Reuters reported.