Here are the business stories making the headlines locally and across the country this morning.
UK economy grew more than first estimated in early 2024
The economy grew by more than initially estimated in the first three months of 2024 as the UK emerged from recession, revised official figures show.
Between January and March, the economy grew by 0.7% the Office for National Statistics (ONS) said.
Figures released last month initially estimated growth had been 0.6%.
The strength of the economy has been a central battleground in the general election campaign, with growth having been sluggish in recent years.
Dozens of BrewDog staff demand end to ‘toxic culture of bullying’ on eve of AGM
BrewDog bosses have been accused of orchestrating a toxic culture of bullying of staff at a dozen bars, including one in Aberdeen.
Dozens of the craft ale giant’s workers have signed a formal grievance with Unite the Union, which alleges that people who have attempted to improve conditions have been “sacked or forced out”.
On the eve of the firm’s AGM in Ellon, the signatories are urging management to change their ways and to bring in an independent person to address what they say are a raft of problems.
Ellon-based BrewDog is one of the north-east’s biggest employers and employs thousands of people at bars around the world.
Business confidence slips from eight-year high
Confidence among British businesses fell from an eight-year high in June and hiring intentions slipped to the weakest in three months in the run-up to the general election next week.
A measure of sentiment in the private sector, compiled by Lloyds Banking Group, fell nine points to 41% after confidence had hit the highest level since 2016 in May.
The figure remains well above the recent historic average of 28% and is consistent with sentiment levels recorded at the start of the year, Lloyds said.
In a positive signal for the inflation outlook, the number of companies saying that they expected to issue pay rises above 5% dropped to the lowest since March and fewer businesses said that they expected earnings to rise by about 4 to 5% in the coming year.
Multibillion-pound sale of Boots is shelved after shares plunge in US parent company
The struggling US owner of Boots has shelved plans for a multibillion-pound sale for the second time, leaving the high street chemist at risk of a further squeeze on investment in its stores.
Walgreens, which has owned Boots since 2014, abandoned plans to cash in as it revealed a damaging profit warning on Wednesday.
The trading update, which also announced plans to close a large number of stores, saw its share price fall to its lowest level since 1997.
Boots was an isolated bright spot for the $10bn (£7.9bn) group, and chief executive Tim Wentworth said he would retain ownership of the retailer as he attempts to overhaul the business.