Here are the business stories making the headlines across Scotland and the UK this morning.
Grangemouth chemical plant in £120m rescue
Britain’s biggest chemical plant is to remain open after owner Ineos secured a multimillion-pound government support package in a deal that will secure about 500 jobs.
The rescue plan will see the government provide more than £120million to help keep the Ineos Olefins & Polymers plant at Grangemouth operating, after the future of the site became uncertain earlier this year.
Sir Keir Starmer said the move is an investment in “good jobs, stronger communities and a modern economy”.
UK inflation slowed more than expected to 3.2% in November
Consumer price inflation fell more than expected to a ten-month low of 3.2% in November paving the way for a final interest rate cut before the end of the year this week.
Official figures showed the pace of inflation eased from 3.6% in the year to October to 3.2% — lower than forecasts from the central bank of 3.4% and the 3.5% expected by City economists. It is the lowest inflation reading since March.
A measure of core inflation, which strips out energy and food prices, also declined from 3.4% to 3.2%, defying expectations that the measure would be stable. On a monthly basis between October and November, price growth contracted by 0.2% , the Office for National Statistics said.
UK to rejoin EU Erasmus student exchange scheme from 2027
British students will be able to study abroad at European universities under a flagship EU scheme for the first time since Brexit.
Ministers will announce on Wednesday that the UK is rejoining the Erasmus exchange programme from 2027.
Britons will be able to spend a year studying at European universities as part of their UK degree courses without paying extra fees, and vice versa for European students.
'Do not drink' warning for island gin and whisky brand
Consumers are being "urgently" warned to not drink whisky or gin products from an Orkney distillery over fears they may pose a risk to health.
Food Standards Scotland (FSS) said Kimbland Distillery had been producing and selling alcoholic products "without the required safety controls".
FSS said the distillery, in Sanday, had also failed to provide evidence that its products met safety standards.
Warner Bros to reject $108bn Paramount bid, reports say
Warner Bros Discovery will urge its shareholders to reject Paramount Skydance's $108.4billion (£80.75bn) takeover bid as soon as Wednesday, according to reports.
Paramount has said its offer is "superior" to a $72billion deal that Warner Bros struck with Netflix for its film and streaming businesses.
At the same time, a key backer of Paramount's attempt to buy Warner Bros, Affinity Partners, has reportedly pulled out of the bid, citing the involvement of "two strong competitors". Affinity was founded by US businessman and President Donald Trump's son-in-law Jared Kushner.
Learner drivers face 24-week wait as backlog continues for two more years
Learner drivers face months of delays booking practical tests because a backlog will not be cleared until November 2027, a watchdog has warned.
The National Audit Office (NAO) said there was a backlog of 1.1 million tests that were not carried out in the 2020/21 financial year because of the CV19 pandemic, and around 360,000 of these had still not been booked.
The average waiting time was 22 weeks in September, but at 70% of test centres the wait has hit 24 weeks – the maximum allowed.