Here are the business stories making the headlines in Scotland and the UK this morning.
EnQuest hit by windfall tax
UK North Sea operator EnQuest has blamed the controversial windfall tax for a 38% plunge in profits in the first half of 2023.
Energy Voice says shares in the London-listed company plummeted nearly 17%, wiping more than £50million off its market value, immediately following its interim results.
They closed the day down 12% at just over 15p.
First-half pre-tax profits for EnQuest came in just shy of £90million, compared with £145.3million a year earlier.
Revenue and other operating income for the latest period totalled £583.3million, down from £751.1million a year ago. Sales were hit by lower commodity prices and a drop in the firm's average net production to 45,480 barrels of oil equivalent (boe) per day, from 49,726boe previously.
EnQuest reported after-tax losses of £16.9million for the six months to June 2023, against profits of £162million a year earlier, "driven by the impact of the UK energy profits levy".
Record fall in Man U share price
Manchester United shares have seen their biggest-ever one-day fall after a report that the team's US owners are going to take it off the market.
The club's shares fell by more than 18% in New York on Tuesday.
That came after it was claimed that no potential buyer had matched the owners' asking price.
The US-based Glazer family announced in November it was considering selling the Premier League club as it explored "strategic alternatives".
The BBC says Manchester United's co-chairmen, brothers Joel and Avram Glazer, are thought to be holding out for an offer of £10billion.
However, prospective bidders Sheikh Jassim of Qatar and British billionaire Sir Jim Ratcliffe had not come close to offering that amount, it was reported.
No Saturday letters?
Rules around letter deliveries on Saturdays could be relaxed as the regulator looks for ways to make the postal service "better reflect" customers' needs.
Ofcom said the number of letters sent had sharply declined in recent years.
In light of that, it said it was collecting evidence on how the Universal Service might need to evolve.
The Universal Service states that letters must be delivered from Monday to Saturday.
The BBC says Royal Mail has been asking the UK Government to allow it to stop letter deliveries on Saturdays.
Increased cost of Aberdeen projects
Millions more have been added to the costs of refurbishing Union Terrace Gardens (UTG) and Aberdeen Art Gallery.
The price of the UTG project has soared to £32.2million, says the Press & Journal.
Meanwhile, years after the reopening of Aberdeen Art Gallery, the full cost has been revealed. The project now appears to have come in at £36.4million.
Changes on way for Scots football buses
Private coaches carrying football fans are a regular fixture on Scotland's roads on match days, but a controversial shake-up of how they operate is on the horizon.
The Traffic Commissioners for Great Britain, which regulates bus travel across the UK, wants to bring in new voluntary guidelines on what the supporters' buses can do.
This includes coaches being forced to arrive an hour before kick-off and any stops at pubs before the games only allowed at premises which serve a "substantial meal" with any alcohol bought.
The commissioner argues the changes are needed due to concerns that incidents of football-related disorder "do still occur and may be increasing".
But the BBC says Scotland's football authorities argue the move amounts to a solution looking for a problem and would serve to "demonise football fans".
Major valuation for Arm
Arm, the UK-based chip designer, is hoping to clinch a market value of more than £40billion in its first sale of shares to the public since 2016.
The company, which designs chips for devices including smartphones and game consoles, is listing in the US.
The BBC says that, expected to be the biggest offering of the year, it is seen as a test of market confidence.
More jobs go at Wilko
A further 1,300 staff at the collapsed retailer Wilko are to lose their jobs.
Administrator PwC said 52 stores would close due to an "absence of viable offers for the whole business".
The BBC says Wilko fell into administration in August after struggling with losses.
A full rescue of the chain is hanging in the balance after a deal tabled by HMV's owner stalled, but rival retailer B&M said it would buy up dozens of Wilko's shops.
However, the GMB union said Wilko workers at stores bought by B&M would not be transferred over and would still be made redundant.
Sand-dredging concern
Around six billion tonnes of sand is dredged from the world's oceans every year, endangering marine life and coastal communities, the UN says.
Sand is the most exploited natural resource in the world after water and is used to produce concrete and glass.
The UN Environment Programme said some vessels were acting as vacuum cleaners, dredging both sand and micro-organisms that fish feed on.
The BBC says that this means that life may never recover in some areas.