Here are the business stories making the headlines across Scotland and the UK this morning.
Farage's rivals rule out standing in Clacton by-election
Labour, the Conservatives, the Liberal Democrats, the Green Party and Restore Britain have all ruled out contesting the Clacton by-election triggered by the resignation of Nigel Farage.
The Reform UK leader said that, having announced his resignation, he would re-fight the Essex seat in what he billed as a "people versus the establishment" by-election.
Facing increasing scrutiny over his finances and a parliamentary investigation, Farage said the "people of Clacton should be the judge of my actions".
Read the BBC story here.
US strikes Iran over attacks on tankers in Strait of Hormuz
The US military launched a wave of airstrikes on Iran on Tuesday night after blaming Tehran for “unwarranted, dangerous” attacks on tankers in the Strait of Hormuz.
Iran’s Islamic Revolutionary Guard Corps (IRGC) responded with strikes on US military facilities in Bahrain and Kuwait on Wednesday.
Iranian state media reported explosions in several areas of southern Iran, including the port cities of Sirik and Bandar Abbas as well as Qeshm Island.
Read the full story in The Times.
Hundreds of jobs at risk as John Lewis plans to cut some services
Around 200 John Lewis staff could lose their jobs as the retailer looks to close its in-store money exchange services and dedicated gift wrapping areas.
No final decision has been made but the job cuts will happen in the autumn if the redundancy plans it is consulting on are approved.
John Lewis said the decision to close its in-store bureaux de change was due to falling demand and that it would move gift-wrapping services from a specialised area to its tills.
Read more on the BBC website.
New MSP breaks ranks with SNP in ‘explicit’ call for more North Sea drilling amid jobs chaos
An Aberdeen SNP MSP has broken with his party’s unclear stance on new North Sea drilling and “explicitly” called for the Jackdaw and Rosebank oil fields to be approved.
Jack Middleton – a former Scottish Government adviser under Humza Yousaf and John Swinney – argued this would create thousands of jobs at a critical time for the sector.
The newly elected politician took over the Aberdeen Central seat from party veteran Kevin Stewart at the Holyrood elections in May.
Read more in The P&J.
Virgin Media fined £28m for preventing customers from cancelling contracts
Virgin Media has been fined £28m for repeatedly preventing customers from cancelling contracts, Ofcom said.
It said millions of phone calls from customers were "likely mishandled" over nearly a three-year period which prevented or delayed customer from switching to a better deal.
The communications regulator said it found "deliberate call-dropping" tactics, as well as customers being put on hold "for no reason".
Read the full BBC story.
Warren James jewellers inside Aberdeen shopping centre set to close
A jewellers inside an Aberdeen shopping mall is set to roll down the shutters next month.
Warren James is closing its branch inside the Trinity Centre after 11 years trading from the spot.
The established high street retailer offers a range of silver, gold and diamond jewellery.
Read the full P&J article here.
Shell set for trading profits boost but gas volumes take hit
Volatility that whipped through energy markets in the wake of the Iran war is set to boost gas trading profits for Shell, although the oil major warned that attacks on gas infrastructure had lowered production during the second quarter.
The performance of its gas trading operations is expected to be “significantly higher” than during the first three months of the year, reflecting dislocation in gas markets.
The effective closure of the Strait of Hormuz caused oil and gas prices to rise sharply, which is expected to provide a boost to the profits of the world’s largest oil and gas companies, including Shell, this year.
Find out more in The Times.
Australia dock workers call for 28-hour week in AI talks
Australian dock workers are demanding a 28-hour work week with no loss of pay as the use of artificial intelligence (AI) and automation expands across the country's ports.
The AI push is being led by port logistics giant DP World, which the Maritime Union of Australia (MUA) said has put workers' jobs "in the crosshairs".
The union said: "If DP World wants AI and automation, then they must pay the social dividend. The new technology doesn't have to cost our members their jobs or put their livelihoods at risk just so a terminal operator can boost profits."
Find out more on the BBC website.
Major road in Aberdeen city centre closed for weeks as underground drilling starts
A major Aberdeen city-centre road has been shut for weeks as underground drilling is carried out on Virginia Street.
The closure is in place on the westbound carriageway of Virginia Street as well as Trinity Quay – between Commerce Street and Market Street.
These works came into force from Tuesday July 7, and are set to last five weeks.
Read more on The Press and Journal website.