Here are the local and national stories making the business headlines this morning.
Aberdeen City Council in plans to shut schools
Aberdeen City Council has revealed plans to slash the number of primary schools in Northfield and Bridge of Don.
The future of six of Northfield Academy’s feeder schools is now being considered with three more in the Oldmachar catchment.
The council says this is due to falling pupil numbers, which is leaving a “significant amount of unused space” in primary school buildings.
The six Northfield schools under threat are Bramble Brae, Heathryburn, Manor Park, Muirfield, Quarryhill and Westpark.
In Oldmachar, the schools involved in the shake-up are Danestone, Glashieburn and Middleton Park.
The Press & Journal reports that parents were told about the plans yesterday.
SNP treasurer Colin Beattie released without charge
SNP treasurer Colin Beattie who was arrested by police investigating the party's finances has been released without charge pending further investigation.
The 71-year-old was taken into custody on Tuesday morning and was questioned by Police Scotland detectives.
First Minister Humza Yousaf earlier said Mr Beattie's arrest was "clearly a very serious matter indeed". The arrest came just hours before Mr Yousaf set out his government's priorities for the next three years.
Police Scotland launched its Operation Branchform investigation into the SNP's finances in July 2021 after receiving complaints about how donations were used.
Former SNP chief executive Peter Murrell, Nicola Sturgeon's husband, was arrested two weeks ago, before also being released without charge pending further investigation.
Scots shoppers cut back on spending
Hard-pressed Scottish shoppers are saving money by focusing on “sales and discounts” as household budgets remain under strain, according to research published today.
After stripping out the effects of inflation, monthly Scottish retail sales fell by 0.1% in real terms in March, according to The Times.
The Scottish Retail Consortium (SRC) said the year-on-year headline figure showed an 8.8% increase, which was attributed to the sharp rise in prices experienced over the past 12 months.
Ewan MacDonald-Russell, the deputy head of the consortium, said the cost of living continued to increase for “stretched” households.
Landmark study reverses the effects of type 2 diabetes
Going on a radical “soup and shake” diet can permanently reverse type 2 diabetes, a landmark British trial has revealed.
Patients who stuck to an 800-calorie-a-day diet for three months, then kept the weight off, were free from symptoms five years later and no longer needed medication.
The Times says the “remarkable” findings confirm that type 2 diabetes is reversible, proving for the first time that the benefits of weight loss continue for the long term.
More than 450 directors banned for loans misuse
The Insolvency Service has disqualified 459 directors for abusing government support schemes during the pandemic.
The directors have been banned from running companies for up to seven years and four months as part of an effort to punish those who misused taxpayer funds. The Insolvency Service also has pursued criminal proceedings against six directors over the past year for misconduct relating to pandemic loan schemes.
The bounce back loan scheme allowed businesses to borrow up to 25% of annual turnover up to £50,000 and the loans were fully underwritten by the government in the event of default. Banks were allowed to sacrifice normal credit checks to ensure the money could be distributed quickly, but this exposed the scheme to substantial fraud risk.
Taxpayers have been forced to pay out £640million so far for pandemic loans that had been linked to “suspected fraud”.
Murdoch settles Fox News defamation case
Rupert Murdoch’s Fox News will pay £634million to settle a blockbuster lawsuit that threatened to expose the inner workings of the organisation as it claimed the US presidential election was rigged.
Dominion Voting Systems launched a high-profile legal battle against Fox over accusations the network knowingly broadcast false claims that its technology was used to rig the 2020 election of Joe Biden. It was seeking damages of $1.6billion.
But the Telegraph reports that a dramatic settlement was announced last night after a jury had been sworn in and with the two sides poised to give opening statements.
AI’s main threat is disinformation, warns GCHQ chief
Disinformation is one of the primary threats from artificial intelligence, GCHQ’s director has told the cabinet.
Jeremy Fleming was briefing ministers on the technology, which has alarmed many in the industry because of the fast pace of its development.
Fleming gave a “clear-eyed look at the potential for things like disinformation and the importance of people being aware of that” according to the prime minister’s spokesperson.