Here are the business stories making the headlines across Scotland and the UK this morning.

Cyber attack on M&S leads to click and collect delays

Marks and Spencer (M&S) says it has been dealing with a "cyber incident" affecting some of its services over the last few days.

The UK retailer said its Click and Collect service had been impacted by technical issues along with its ability to collect contactless payments - with many customers taking to social media to complain about delays.

M&S chief executive Stuart Machin apologised to customers in a note on Tuesday. He said the company had been forced to temporarily make "small changes" to store operations "to protect you and our business".

Musk to reduce Doge role after Tesla profits plunge

Tesla boss Elon Musk says he will cut back his role in Donald Trump's administration after the company's profits and revenues plunged during the first three months of the year.

Sales slumped and the electric carmaker faced a backlash as Musk became a political fixture in the White House.

On Tuesday, the firm reported a 20% drop in automotive revenue in the first quarter of 2025, compared with the same period last year, while profits fell more than 70%.

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Santander paves way for UK exit with shake-up of car finance arm

Santander is plotting to ditch its scandal-hit motor finance unit in a shake-up which could pave the way for the bank to exit the UK entirely.

The Spanish lender is seeking approval to separate its British car finance division – which is subject to a wave of possible litigation linked to the ongoing car loan mis-selling case – from the rest of its UK banking business.

Santander, along with other lenders, has already set aside millions to cover possible compensation costs after a landmark court ruling said “secret” commissions paid to car salesmen by drivers were unlawful.

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