Here are the business stories making the headlines across Aberdeen, Scotland and the UK this morning.
Aberdeen beach construction firm at centre of police fraud probe
One of the firms behind the Aberdeen beach sky tower is being probed by police over alleged fraud, The Press and Journal can reveal.
Blake Group, the Edinburgh-based fabricators behind much of the 75ft showpiece, is being investigated by Police Scotland.
Officers arrived at Blake’s head offices in the Seafield area of the capital on Thursday October 29, with “inquiries at an early stage”.
Read the P&J exclusive here.
Four tankers destroyed by naval mines in Strait of Hormuz, Iran's IRGC says
Four oil tankers were destroyed after hitting naval sea mines, Iran's Islamic Revolutionary Guard Corps (IRGC) said on Wednesday, a day after US officials said the US military had launched strikes on the country.
The IRGC said two of the vessels were still burning, and two additional tankers had been seized, according to the semi-official Tasnim news agency. It said they were trying to travel through a prohibited southern route in the Strait of Hormuz.
The BBC has not independently verified the IRGC's claim, which came as US voters punished Republicans at the midterm elections, leading Iran's top negotiator, Mohammad Bagher Ghalibaf, to say the results showed Americans had said no to war.
Poundland supplier 'will lose millions' if retailer collapses
One of Poundland's suppliers has said it will lose millions if the firm collapses.
While that supplier will stay afloat, it is feared that some small and medium-sized suppliers could go under.
This is in addition to potentially thousands of job losses among staff.
Read more from the BBC.
Scottish colleges need £2.5bn investment boost by 2037, report warns
Colleges in Scotland will need £2.5bn to meet required investment in their infrastructure over the next decade, according to a new report.
The Scottish Funding Council (SFC) estimated £1.3bn was needed to maintain the college estate to a good standard, while an additional £1.2bn would be required to fund improvements.
The College Infrastructure Investment Plan (College IIP) said the "condition, configuration and expense" of some further and higher education buildings meant they were "no longer fit for purpose".
Read more on the BBC website.
Granite deep clean and glazed walkway planned in hotel makeover of former RGU Students’ Union
Fresh details have emerged of plans to transform Aberdeen’s long-empty former RGU students’ union into a hotel and restaurant.
Years of grime and grafitti could be cleaned off the Category B-listed Schoolhill building’s granite, while developers eye a glazed walkway linking it to the neighbouring Clarke Building.
London-based Grove Hotels bought the prominent city centre site last May, bringing forward ambitious plans to convert it into a hotel and eatery.
Read more in The Press and Journal.
Asda hires ex-Morrisons boss in bid to grow firm
Asda has appointed a former Morrisons boss as chief executive to help lead revival efforts at the supermarket chain.
Asda, which is based in Leeds, said David Potts would take on the role with immediate effect, while current boss Allan Leighton would become non-executive chairman, two years after returning to lead the supermarket chain.
Potts led Morrisons from its Bradford headquarters for eight years until 2023, overseeing a turnaround during which the supermarket chain was bought by US private equity firm Clayton, Dubilier & Rice.
Read the BBC article here.
Nigel Farage: Putin acted rationally when he seized Crimea
Nigel Farage said that President Putin acted rationally when he seized Crimea and territories in the Donbas because its residents wanted to join a “greater Russia”, The Times can reveal.
The Reform UK leader said he understood why the Russian president had annexed the Crimean peninsula in the south of Ukraine and invaded parts of the Donbas in 2014.
Farage also described Putin as having been a “rational player” when he waged war against Georgia in 2008, sending Russian forces into the South Caucasus nation before recognising the breakaway regions of South Ossetia and Abkhazia as independent states. Most of the international community and the United Nations consider them part of Georgia.
Read more in The Times.
Canva announces major job cuts after 'our hardest year yet'
Canva, one of Australia's best known start-ups, has announced a shake up of the business that will affect 22% of its workers, including job cuts.
In what was "without doubt the hardest moment in our 13-year history" co-founder and CEO Melanie Perkins said 1,271 people would either lose their jobs, be asked to relocate or change roles.
The firm's value has reportedly dropped in the past year over concerns about the impact of artificial intelligence (AI) on its business as well as the cost of incorporating the technology into its platforms.
Get the full story from the BBC.