Here are the business stories making the headlines across Scotland and the UK this morning.
Oil hits $100 for first time since July
Oil prices rose above $100 a barrel for the first time since July on Wednesday as an escalation of hostilities in the Middle East raised fears over global supplies.
Brent crude, the international oil benchmark, rose 2.1% to just over $100 a barrel, topping $100 for the first time since July 24.
The rise comes as the US and Iran battle for control of the Strait of Hormuz, with the countries exchanging tit-for-tat strikes on shipping in the region.
Read more in The Financial Times.
UK announces sanctions on West Bank settlements prompting furious Israeli response
The UK has announced sanctions on illegal Israeli settlements in the occupied West Bank, accusing Israel's government of turning a blind eye to the "ethnic cleansing" of Palestinians by settlers.
Foreign Secretary Ed Miliband said the move marked the "beginning of a new approach" to the Israeli-Palestinian conflict, which "not only calls out injustice and suffering but acts".
Israel's Foreign Minister Gideon Saar responded by accusing him of spreading an "outrageous lie" and announced counter-measures including shutting the UK's consulate in East Jerusalem.
Read the BBC story here.
US strikes Iranian oil tankers as Tehran targets American base in Jordan
US forces struck five Iranian tankers on Tuesday, sinking one, in response to Tehran twice targeting an American warship, US Central Command (Centcom) said.
Four Iranian oil tankers in the Gulf of Oman linked to Iran's Revolutionary Guards Corps (IRGC) were targeted, as well as another near Kharg Island, a major oil terminal off Iran's coast, Centcom added.
Tehran responded by launching missiles at a US base in Jordan - most of which were shot down - and said it attacked two US vessels and eight oil tankers in the Strait of Hormuz.
Read more on the BBC website.
Mill of Mundurno in Bridge of Don to reopen under new owners
A Bridge of Don restaurant that closed as part of a Premier Inn restructure is due to open under a new brand.
Mill of Mundurno, located next to the Premier Inn Aberdeen North, will be reopened by Queensway Inns.
Last month, the hospitality group announced it had bought 53 Whitbread sites across the UK.
Read the P&J article here.
Dunelm plans overhaul with £100m of cost cuts
Dunelm has announced plans for a major overhaul of its strategy, including a restructuring that will see £100million in costs stripped out of the business over the next three years and reinvested in expanding its store estate.
Britain’s biggest homewares retailer said it had already taken action to reduce its central teams in support and distribution by about 8 per cent – the equivalent of roughly 95 jobs – since the financial year ending June 27, which has helped deliver annualised savings of about £40million.
Dunelm’s three-year plan is to reinvest the additional savings in accelerating new store openings, refreshing product ranges and expanding its digital offering, with a goal of returning to “mid-to-high” single-digit sales growth.
Read more in The Times.