Here are the business stories making the headlines across Scotland and the UK this morning.
Shetland spaceport project secures £30m of UK government investment
The UK government has announced investment of £30m in SaxaVord Spaceport in Shetland as part of a new national space strategy.
A spaceport spokesperson said the funding was a "hugely significant" vote of confidence and would unlock a further £30m of private investment.
Several companies hope to use SaxaVord in Unst, the northernmost point in the UK, as a launch site for small commercial rockets.
Read the full BBC article.
£5m cash injection revealed for Northern Hotel student flats plan amid fears for landmark
Work to transform Aberdeen’s Northern Hotel into student accommodation is ramping up after concerns were raised about the deteriorating condition of the city landmark.
The former hotel, at the junction of Great Northern Road and Clifton Road, closed its doors in late 2022 after battling rocketing power bills.
In 2024, proposals were approved to rescue the A-listed venue from lying empty by transforming it into student flats.
Read more in The Press and Journal.
Andy Burnham to ban trade with Israeli settlements
Andy Burnham will announce a trade ban on Tuesday on Israeli settlements in the West Bank. He will say that Britain will not stand back and accept the “destruction of the two-state solution”.
The announcement is in response to Israeli plans to open tenders for the construction of 1,200 settler homes in a key area of the West Bank known as E1.
Burnham told President Trump about the proposed ban in a phone call on Monday. No 10 said the prime minister had stressed the importance of the two-state solution. The Trump administration is expected to make a statement attacking the decision.
Read more in The Times.
Next wins key appeal to overturn £30m equal pay ruling
Next has won an appeal allowing it to keep paying warehouse workers a higher hourly rate than shop floor staff in a long running battle over equal pay.
The Employment Appeal Tribunal has overturned a key part of a landmark ruling in 2024 which found the retailer was wrong to pay its warehouse staff higher basic pay than shop floor workers for jobs of equal value.
More than 3,500 current and former employees, mainly women, had been set to share potentially more than £30m in back pay as a result of that judgement.
Read the BBC story here.
Inverurie firm acquired as accountancy group targets £6m turnover
Inverurie firm BW Accounting has changed hands and is now under new ownership.
SBP Accountants & Business Advisers (SBP) has acquired the company for an undisclosed sum.
The move is part of ambitious plans by SBP to double turnover within the next five years to £6m and heavily increase on the 2,500 clients it already looks after.
Read the P&J story here.
'JLR job cuts a cause for uncertainty and worry'
News that Jaguar Land Rover (JLR) was to cut 4,000 jobs was a cause for uncertainty and stress for company workers and those in the wider supply chain, experts have said.
Prof David Bailey from the Birmingham Business School said he worried it could limit the company's ability to innovate in the future while David Roberts, chairman of Coventry-based Evtec Group, said up to 200,000 jobs could be tied to JLR.
The cuts will happen over the next two years and will mostly affect the head office in Whitley, Coventry.
Read more on the BBC website.
Chris Rokos, billionaire hedge fund founder, leaves UK
The hedge fund founder Chris Rokos has become the latest high-net-worth individual to depart from the UK.
The billionaire founder of Rokos Capital Management, who was ranked third in The Sunday Times Tax List 2026, is switching his residency to Greece amid speculation of more tax rises in the autumn budget.
The hedge fund founder’s departure follows the exits of Lakshmi Mittal, the steel billionaire and founder of ArcelorMittal, and Nassef Sawiris, Egypt’s second-richest man, from the UK after reforms to the non-dom tax regime in early 2024.
Read more in The Times.