Here are the business stories making the headlines locally and across the UK this morning.
UK interest rates expected to stay at 16-year high
Interest rates are expected to be held at 5.25% for the sixth time in a row by the Bank of England on Thursday.
The decision comes as inflation, which measures price rises over time, remains above the Bank's 2% target at 3.2%.
As well as the interest rate decision, the Bank will also release its latest forecast estimating what will happen to inflation and the UK economy.
The report comes amid pledges from both major political parties on how they would drive economic growth.
Aberdeen University graduate launches city’s first keyless self-storage business
An Aberdeen University graduate has launched his own self-storage business, introducing keyless units to the city for the first time.
Brian Barbour has invested £140,000, plus undisclosed property costs, in getting Storage Den up and running.
The 31-year-old spent six years studying at Aberdeen University and despite moving back to his hometown of Edinburgh, saw potential for his business idea in the Granite City.
Storage Den, based in Bridge of Don Industrial Estate, has 70 storage units ranging in size from 25 sq ft to 200 sq ft, and are all individually alarmed with motion sensors and monitored with CCTV.
Used car dealer Cazoo poised to enter administration
The online car supermarket Cazoo is on the brink of insolvency after failing to secure emergency funding.
The digital used car business, founded by former Zoopla boss Alex Chesterman, has filed a notice that it intends to appoint administrators at the High Court.
It marks a dramatic fall from grace for the British car dealer, which was valued at over $8bn (£6.4bn) after floating on the New York Stock Exchange in 2021.
Cazoo’s share price later plunged and it was forced into a series of restructurings and refinancings in an effort to survive, including a $630m debt-for-equity swap completed in December.
Nadhim Zahawi becomes latest Conservative MP standing down at the election
Nadhim Zahawi has become the latest Conservative MP to announce he will step down at the next election.
With the party expected to face heavy losses in the general election, the former chancellor said the time is right for “a new, energetic Conservative” to take over.
The Stratford-on-Avon MP becomes the 64th Conservative to announce he is standing down at the end of this parliament, with the country expected to go to the polls in October or November.
Mr Zahawi, who served as chancellor in 2022, was facing a tough re-election, with polls suggesting he was on course to lose the seat, which has only elected Conservatives since 1950.