Here are the business stories making the headlines across Scotland and the UK this morning.
UK in talks about joining global defence bank led by Canada
The UK government is in discussions about joining a global investment bank aimed at raising more money for defence spending.
Chancellor John Healey is considering a bid to join the Defence, Security and Resilience Bank (DSRB), not long after his predecessor Rachel Reeves rejected the idea.
Canada has been leading efforts to establish the bank, which supporters say would enable governments to borrow at lower costs to increase military spending.
Read more on the BBC website.
Nicola Sturgeon calls for abolition of royals to ‘free’ Prince George
Nicola Sturgeon has called for the monarchy to be abolished to “free” Prince George from a life of duty and constant scrutiny.
As first minister and leader of the SNP, she offered steadfast support for Queen Elizabeth and King Charles. However, since stepping down in 2023 she has expressed her personal view in favour of a republic.
Sturgeon, 56, who also stood down as an MSP this year, told the Channel 4 documentary The Royals: Time to Go that she had “huge sympathy” for the royal family.
Read the full Times article here.
Frasers Group investors oppose finance chief bonus ‘for doing his job’
Mike Ashley’s Frasers Group is facing a showdown with investors after its finance chief received a “questionable” £100,000 bonus for apparently just doing his job.
Glass Lewis and Institutional Shareholder Services (ISS), two influential proxy advisers, have both urged investors to vote against the owner of Sports Direct’s remuneration report at its annual general meeting on Wednesday.
Chris Wootton, who joined as chief financial officer in 2017, received the discretionary bonus for delivering a £3billion new term loan and revolving credit facility, an accomplishment that ISS argued appears to fall within his “day-to-day job description”.
Read more in The Times.
US borrowing costs hit highest level since 2007
US government borrowing costs climbed to their highest level since 2007 after a jump in oil prices further fuelled concerns about inflation.
The effective interest rate on US government bonds over 10 years, known as the 10-year Treasury yield, rose as high as 5.04% but has eased back since.
Government bond yields have been rising globally for months, driven by worries that inflation caused by the oil price surge since the start of the US-Israel war with Iran will lead to higher interest rates.
Read more on the BBC website.