Here are the business stories making the headlines across Scotland and the UK this morning.
M&S chief Stuart Machin faces £1m pay cut after cyberattack
The chief executive of Marks & Spencer could have more than £1million cut from his annual pay package after a cyberattack wiped about 14% from the company’s share price.
Stuart Machin, who has been leading a turnaround at the clothing and food chain since 2022, is likely to lose about £831,000 on a performance share plan and £233,000 on a deferred bonus awarded the same year.
Since the cyberattack at the Easter weekend, the retailer has experienced a significant drop in its share price, indicating a loss of about £1.15billion in market value.
Read the full story in The Times.
Morrisons says UK-EU deal will 'ease' price pressure
The boss of one of the UK's biggest supermarket chains says the UK-EU trade deal will reduce pressure on prices.
The deal signed on Monday sets out post-Brexit relations on areas including fishing rights, farming exports, trade, travel, and defence.
Major business groups called the agreement a "leap forward" which made "genuine progress", while Morrisons' chief executive Rami Baitiéh said it would "ease a source of pressure on food prices".
Click here to read more.
Ryanair raises fares as more holidaymakers pick Europe over US
Holidaymakers preferring to stay in Europe rather than fly to America are helping Ryanair to push through fare rises of up to 20% this spring, the airline’s chief executive has said.
“Europeans appear to be holidaying at home [in Europe] because of what they see as a lack of a reasonable welcome in the US,” Michael O’Leary said.
This combined with a later Easter holiday and the end of disputes with online travel agents that hit volumes the year before, has prompted Ryanair to report that it will record fare increases of “mid-high teens” during the April-June trading quarter.
Post Office data breach victims to get compensation
The Post Office has agreed compensation for hundreds of former sub-postmasters after accidentally leaking their names and addresses on its corporate website.
The data breach was revealed in June last year when it emerged the personal details of 555 victims of the Horizon IT scandal had been published.
The company has now confirmed individual payouts of up to £5,000 with the potential for higher sums for those who want to pursue a further claim.
Nationalised railway faces £1bn blow from cheaper private rivals
Nationalised railways are doomed to fail when competing against cheaper private rivals, a new government-backed report suggests.
In a blow to Sir Keir Starmer’s commitment to nationalise the rail network, government-run LNER is predicted to lose out on £1billion in ticket sales to private operators serving the same stations.
Apps such as Trainline are directing people to cheaper fares, invariably offered by private companies. This means taxpayers will have to bail out LNER – which has been run by the Government since 2018 – every year as it loses business.