Here are the business stories making the headlines across Scotland and the UK this morning.
Urgent repairs for Aberdeen’s Caffe Nero building amid fresh hopes for Black Sheep Coffee takeover
The “unsightly” Caffe Nero building in Aberdeen city centre will undergo urgent repairs this summer – years after it was damaged in the demolition of the adjacent market.
The future of the property at 73-77 Union Street has been in doubt since Caffe Nero moved out in 2023, leaving yet another gaping hope on the Granite Mile.
London-based chain Black Sheep Coffee – which also runs an outlet at Union Square – swooped in almost immediately after their departure and signed the lease. However, more than two years on, the prominent building remains empty.
Read more in the P&J.
Rising retail sales in March raise hopes for a bumper Easter
Retail sales rose in March driven by the warmer weather and families buying gifts for Mother’s Day, signalling that consumer spending could be strong over Easter, new figures show.
According to KPMG and the British Retail Consortium (BRC), sales jumped by 1.1% on an annual basis last month, unchanged from February’s rise and above the twelve-month average of 0.6% growth. Sales increased by 3.5% in March last year owing to the earlier Easter holiday.
Food sales were up by 1.6% year-on-year in March, compared with a rise of 8.3% in the same month last year. Non-food transactions grew by 0.6% annually last month.
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Biggest choice of low-deposit mortgages for 17 years
More low-deposit mortgages are available to choose from than at any time since the financial crisis of 2008, according to new figures.
The number of deals that need a deposit of 5% or 10% have risen to their highest level since then, data from financial information service Moneyfacts suggests.
The extra choice is a boost for first time buyers, although house prices and mortgage rates are higher than they were for much of the last 17 years.
Edinburgh trams and buses to introduce tap-on, tap-off payment
Passengers in Edinburgh will soon be able to tap on and off buses and trams using seamless smart ticketing.
Travellers in the capital, and the rest of Scotland, have long asked for the kind of integrated fares system that is on offer in cities such as London. The Scottish government last year announced a seamless ticketing strategy and said it would work with operators to introduce the technology.
Edinburgh Trams has announced that its passengers will be able to tap on and tap off — “ToTo” in industry jargon — very soon. The system is understood to be undergoing final tests.
Mark Zuckerberg defends Meta in social media monopoly trial
Meta boss Mark Zuckerberg has taken the witness stand in a landmark antitrust trial to defend his company against allegations that his company operates a social media monopoly.
His testimony is part of a case first brought by the Federal Trade Commission (FTC) in 2020 during the final days of the first Trump administration.
The US competition watchdog alleges Meta unfairly dominated the market through its acquisitions of photo-sharing app Instagram in 2012 and the messaging service WhatsApp in 2014.
Number of pupils leaving school early is on the rise
Covid and the cost of living crisis are making more young people leave school in Scotland aged 16, according to official figures.
Ministers are understood to be worried that the number of students leaving at the end of the fourth year of secondary school (S4) — which had been declining in recent decades — is rising again.
It is understood that relatively low youth unemployment north of the border means some youngsters are dropping out of education to make money and help their families.
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