Here are the business stories making the headlines across Scotland and the UK this morning.
Social media bans and digital curfews to be trialled on UK teenagers
Social media bans, digital curfews and time limits on apps are to be trialled in the homes of hundreds of UK teenagers.
The test, led by the UK government, will see 300 teens involved have their social apps disabled entirely, blocked overnight or capped to one hour's use - with some also seeing no such changes at all - in order to compare their experiences.
It will run alongside the government's consultation asking whether the UK should follow in Australia's footsteps by making it illegal for under-16s to have access to many social media sites.
Read the full story on the BBC website.
‘US is only negotiating with itself’ says Iranian military spokesperson
An Iranian military spokesperson has mocked US attempts at a ceasefire deal, insisting the US was only negotiating with itself.
Lieutenant Colonel Ebrahim Zolfaghari, a spokesperson for the Iranian military’s Khatam al-Anbiya Central Headquarters, made the statement in a prerecorded video aired on state television.
He said: “The strategic power you used to talk about has turned into a strategic failure. The one claiming to be a global superpower would have already gotten out of this mess if it could. Don’t dress up your defeat as an agreement. Your era of empty promises has come to an end. Have your internal conflicts reached the point where you are negotiating with yourselves?”
Read more in The Times.
Aberdeen Reform UK candidate pulls out just days after being picked
Reform UK’s Aberdeen Central candidate has U-turned on standing at the Holyrood election – less than a week after he was officially selected.
The Press and Journal can reveal Jordan Brown will no longer contest the upcoming vote in May for personal reasons.
A senior Reform source said a replacement will be announced on Wednesday after we asked about Mr Brown’s status as a candidate.
Revolut posts record £1.7bn profit as it plans UK credit cards
Revolut, the payments and banking group, is pushing ahead with plans to launch credit cards in the UK after lifting pre-tax profits by 57 per cent in 2025 to a record £1.7 billion.
Victor Stinga, Revolut’s chief financial officer, described credit cards as “a key area of focus” for expansion after the group secured a full banking licence from the Bank of England this month.
In an upbeat presentation, Stinga said the results were “very pleasing” and the group had got off to a strong start in the current year, with customer numbers breaking past the 70 million mark after hitting 68.3 million at the end of 2025.
Read the full story in The Times.
Oil trades of $500m made minutes before Trump statement
At least half a billion dollars in bets on the oil market were placed minutes before President Trump announced that the United States would postpone military strikes on Iranian energy targets.
The unexplained trading activity prior to Trump’s statement at 11.05 am on Monday that there had been constructive talks between Washington and Tehran, an announcement that prompted a sharp drop in oil and gas prices, has prompted concerns about market abuse.
About 15 minutes before the post, between 10.49am and 10.50am, at least 5,100 lots relating to the future cost of North Sea-sourced Brent crude and US-sourced West Texas Intermediate (WTI) crude changed hands, according to data compiled by the London Stock Exchange Group.
Click here to read the full article on The Times website.
OpenAI ends Disney partnership as it closes Sora video-making app
OpenAI has shut down its artificial intelligence (AI) video-generation app Sora less than two years after its launch made headlines for creating realistic clips based on simple prompts.
At the same time OpenAI will also wind down its content partnership with entertainment giant Disney, the BBC understands.
OpenAI told the BBC on Wednesday that it has discontinued Sora so that it can focus on other developments, such as robotics "that will help people solve real-world, physical tasks."
Merlin writes down value of Madame Tussauds by £262m
The group behind Alton Towers and the London Eye has written down the value of Madame Tussauds by £262 million, as the 190-year-old attraction battles falling visitor numbers.
Merlin Entertainments said the writedown on its famous wax museum business was a result of the “challenging macro environment, particularly in North America and Asia”, but said it was focused on “reinvigorating” the brand this year “in line with changing consumer trends”.
“It is still a very successful brand, it’s just recognising we’ve lost some of the volume we had in its heyday,” Fiona Eastwood, Merlin’s chief executive, said. “The writedown is just an accounting to recognise the value, it is not an impact on cash.”
Get the full story on The Times website.
Meta told to pay $375m for misleading users over child safety
A court in New Mexico has ordered Meta to pay $375m (£279m) for misleading users over the safety of its platforms for children.
A jury found that Meta, which owns Facebook, Instagram and WhatsApp, was liable for the way in which its platforms endangered children and exposed them to sexually explicit material and contact with sexual predators.
New Mexico Attorney General Raul Torrez said the verdict is "historic" and marks the first time that a state has successfully sued Meta over child safety issues.
The full story is available on the BBC website.