Here are the stories making the business headlines across Scotland and the UK this morning.
Former ‘iconic’ Aberdeen pub with potential annual turnover of £1 million put on market for less than £50,000
A well-known former Aberdeen pub with a potential annual turnover of £1 million has been put on the market for under £50,000.
Illicit Still, which is located on the city’s Broad Street and closed for good in March 2021, is available on an initial five-year lease for £80,000 per year.
Estate agents Cornerstone said the “iconic” venue is a “great opportunity for motivated tenants”.
A “mix of a classical interior with modern twist”, the venue also includes the “characterful and cavernous” cellar bar “Wee Pub”.
Accessible internally and externally via Netherkirkgate, it is described as being “ideal” for private functions.
Royal Mail blames poor service for £319m loss
Poor quality of service and defecting customers have plunged Royal Mail deeper into the red prompting its new boss to demand that the government scraps its privatisation commitment to a universal six-day service.
Despite now being free from a debilitating breakdown in industrial relations and months of strikes under previous management, Royal Mail revealed losses of £319 million in the six months to the end of September.
That is significantly worse than the £219 million reported in the same period in the prior year.
It dragged International Distributions Services (IDS), Royal Mail’s stock market-listed parent company, £243 million into the red at the operating level, 54% worse than last year as profitability declined at its European and American courier business GLS.
Jeremy Hunt to pledge millions to woo electric car firms
The chancellor is to announce hundreds of millions of pounds more in funding for companies wanting to manufacture batteries for electric vehicles.
In a signal aimed at attracting EV manufacturers, including the likes of Tesla and Chinese firms, Jeremy Hunt will pledge more subsidies and grants.
The existing Automotive Transformation Fund has helped to lure Nissan and Tata to the UK.
But industry sources say much of the £1.2b pot has been committed.
The announcement will be part of a wider package aimed at stimulating growth in advanced manufacturing.
Wowcher faces court threat over 'misleading' sales practices
Wowcher, the online retail and experiences platform, has been warned it could face court action unless it changes customer sales practices.
The Competition and Markets Authority (CMA) launched a review of its operations in March as part of a wider probe into pressure-selling tactics used by retailers online.
The investigation, the regulator said, had found several areas of concern including hidden charges and the use of a pre-ticked box to enrol consumers into VIP memberships on Wowcher's site.
The main gripe, however, seems to centre on its use of timers.