Here are the business stories making the headlines across Scotland and the UK this morning.
Rachel Reeves in New York charm offensive
Rachel Reeves is preparing to woo Wall Street titans next month in a bid to boost US investment into the UK.
The chancellor is planning a visit to New York in early August to meet some of America’s biggest investment firms, according to The Times.
The trip will include a one-on-one dinner with Stephen Schwarzman, the billionaire chairman and chief executive of Blackstone, the world’s biggest commercial property investor. Preparations are also under way for a breakfast with Wall Street leaders, it is understood.
The chancellor wants to boost investment in projects ranging from green energy and infrastructure to housebuilding.
Musk says Tesla to use humanoid robots next year
Tesla boss Elon Musk says the electric vehicle car maker will start producing and using humanoid robots from next year.
In a social media post, Mr Musk said the robots will first be used by Tesla, which will start making them to sell in 2026.
The technology billionaire had previously said he expected the robot, called Optimus, to be ready for use in Tesla factories by the end of this year.
Other firms, including Honda and Boston Dynamics, have also been developing their own humanoid robots.
Rishi Sunak to stay on as Tory leader until November
The Conservatives will hold a long leadership contest with the final four candidates taking to the stage at party conference before the winner is announced on November 2.
The 1922 Committee of backbench Tory MPs and the board of the party’s board have agreed that the contest will formally open on Wednesday and close to candidates next Monday.
Rishi Sunak has agreed to stay until November 22 to ensure a “smooth and orderly transition” to a new leader. The eight Tories considering leadership attempts are Kemi Badenoch, Dame Priti Patel, Robert Jenrick, Suella Braverman, James Cleverly, Tom Tugendhat, Victoria Atkins and Mel Stride.
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Ex-journalist Russell Findlay bids to lead Scottish Conservatives
Russell Findlay, the former crime reporter turned Scottish Conservative MSP, has become the first candidate to formally declare his intention to run for the leadership of the party.
Russell Findlay, the party’s justice spokesman, is regarded as a frontrunner in the race to replace Douglas Ross. A number of other MSPs have said that they are considering their positions.
Findlay, 51, worked for newspapers including the Scottish Sun and Sunday Mail and the broadcasters STV and BBC and specialised in investigative journalism. In 2015 he was targeted in an acid attack on his doorstep in Glasgow.
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Government-backed ‘digital IDs’ will provide ‘trust mark’ for paying taxes
People will be able to prove their identity for everything from paying tax to opening a bank account using a government-backed “digital ID”, ministers have said.
A “trust mark” for approved verification products will be created under a data bill that will make it easier for people to prove their identity as ministers seek alternatives to ID cards.
A “single sign-on” for all government services is also being accelerated to avoid the need for people to remember multiple passwords under a scheme that edges closer to a unique digital identity for citizens.
Kamala Harris almost certain to win Democratic nomination
Kamala Harris is almost certain to become the Democratic Party’s presidential candidate after gaining the backing of enough delegates to secure the nomination on Monday night.
The vice-president, 59, has seen a surge in support after President Biden announced on Sunday that he will not seek a second term and that he was endorsing Harris.
A survey of delegates by the Associated Press found that Harris has the backing of at least 2,214 Democratic delegates — more than the 1,976 she would need in the first round of voting at the party’s convention, which begins in Chicago next month.
Click here to read more in The Times.