Here are the business stories making the headlines across Scotland and the UK this morning.
Majestic pulls wines from shelves after tax raid makes them unprofitable
Majestic has axed wines from a string of small vineyards after a shake-up of alcohol tax rates made them unprofitable.
John Colley, chief executive at the wine retailer, said the retailer had pulled a number of wines from its shelves in the wake of new rules which came into effect in February.
Under previous rules, wines between 11.5% and 14.5% ABV (alcohol by volume) attracted the same tax rate. Under the new system, the tax due on them is calculated based on their individual strength, making some wines much more expensive and creating a mountain of extra paperwork for retailers.
M&S bosses pushing for buses to drop shoppers off at expanded Union Square store
Marks and Spencer bosses are in talks with local politicians in a bid to get buses to drop customers off outside the newly expanded Union Square store.
The St Nicholas Street flagship shop is soon to close, with the food hall shutting earlier this month. It comes as M&S ploughs £15million into a swanky revamp of its shop nearby in the Aberdeen mall.
With the huge new food hall now open, offering a bigger and better range, the popular chain is keen to make it easier for their older or less mobile customers to reach it.
Read more in the P&J.
Travel body accuses government of ‘sabotaging’ UK tourism industry
The government has been accused of “sabotaging” the UK’s tourism industry, after figures showed international visitors spent more than £2billion less last year than they did before the pandemic.
The World Travel and Tourism Council (WTTC) – which found in a new study that people visiting the UK spent £40.3billion in 2024, down 5.3% on 2019 – said that the government has made “deliberate policy choices” that had created “barriers to travel”.
The policies singled out include the lack of tax-free shopping, increasing air passenger duty and introducing electronic travel authorisations.
Ford reserves £61m for car loan mis-selling claims
The car loans mis-selling scandal has forced the British motor finance division of Ford to set aside £61million to cover the potential cost of paying compensation to customers.
The provision, which was disclosed in the latest accounts for the Ford subsidiary FCE Bank, means that the American car manufacturer joins a growing list of companies that are bracing themselves for a financial hit from the controversy.
They include Lloyds Banking Group, one of Britain’s biggest car loan providers, which has earmarked £1.15billion for the affair, and Santander UK, which has put aside £295million.
Click here to read more.