Here are the stories making the business headlines across Scotland and the UK this morning.
Matalan feels the chill in the second quarter
Sales at Matalan have stalled as people shop less amid the cost of living crisis and “unseasonable” weather.
The fashion and homewares retailer reported total revenue of £288.6 million for the 13 weeks to August 26, a 0.8 per cent increase on a year earlier.
Revenue in its UK stores grew by 8 per cent, but online sales fell by 34.7 per cent and international sales by 9.2 per cent.
Yesterday’s trading update cited “weather, consumer spend resistance and challenging competitor responses” as factors in a first half plagued by runaway inflation and weak demand.
RMT union votes for six more months of rail strikes
Train passengers are facing another six months of potential strikes, after members of the RMT union voted for further industrial action.
The dispute with rail companies has been going on for nearly 18 months already, with workers calling for better job security, pay and conditions.
RMT general secretary Mick Lynch said the vote provided a "decisive mandate".
There was a 63.6% turnout, with 89.9% voting in favour.
"The government, who controls this dispute through a contractual mandate over the train operating companies, must now allow the Rail Delivery Group to put forward a revised offer so we can work towards reaching a settlement," Mr Lynch said.
Sunak’s Covid startup fund invested nearly £2m in firms linked to his wife
Rishi Sunak’s controversial fund to support startups during the Covid pandemic invested nearly £2m in companies linked to his wife, Guardian analysis has found.
Carousel Ventures, a company part-owned by Akshata Murty’s venture capital firm, got an investment of £250,000 from the Future Fund to help fund its ownership of a luxury underwear business called Heist Studios, it can be disclosed.
It is the fourth business linked to Murty revealed to have received an investment from the fund set up by Sunak to support startups when he was chancellor during the Covid pandemic.
None of Murty’s investments that benefited from the Future Fund appear publicly on Sunak’s register of ministerial interests. Critics have raised concerns over a lack of transparency and the potential for a perceived conflict of interest given Sunak launched the scheme to help startups – a sector in which his wife is a known investor
10-year UK gilts are close to a 15-year high
The cost of UK state borrowing is close to a 15-year high - levels seen only twice since the global financial crash.
The amount the UK government has to pay - the yield - to borrow money for 10 years via its benchmark 10-year bonds - known as gilts - rose to more than 4.7% on Thursday.
Only twice since the 2008 crash has such a high been reached, both times in August this year. On one of those occasions, the yield topped 4.75%.
Bonds are a key way that countries access money to fund expenditure and act as an IOU. As the cost of bonds fall, perhaps as investors sell off bonds, the rate that states have to pay to borrow the sums increases.