Here are the business stories making the headlines across Scotland and the UK this morning.
Waterstones profits rise fourfold as workers return to office
The return of workers to offices across Britain helped to fuel a near fourfold rise in profits at Britain’s biggest bookseller last year.
Pre-tax profit at Waterstones rose from £11.2million to £42.9million in the year to April 27, according to newly filed accounts with Companies House. Sales grew from £452.4million to £528.3million.
Waterstones, which also owns Blackwell’s and Foyles, said sales were boosted by “encouraging growth in London and other metropolitan city centres as tourist numbers increase and workers return to offices”.
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UK borrowing hits highest December level for four years
Government borrowing rose more than expected in December, hitting its highest level for the month for four years, official figures show.
Borrowing - the difference between spending and tax revenue - was £17.8billion last month, £10.1billion more than in December 2023, the Office for National Statistics (ONS) said.
Spending on public services, benefits, and debt interest were all up on the year, the ONS said, while an increase tax take was offset by a cut to National Insurance by the previous government.
Aberdeen’s Dutch Mill marquee removed after long-running saga
A popular marquee erected outside Aberdeen’s Dutch Mill Hotel has been removed.
The Queens Road venue confirmed the space will revert back to being a car park on January 27. It follows a long-running campaign to keep the structure, which went up in 2020 amid Covid restrictions for customer safety.
Bosses argued it had become “very popular”, but in 2022 Aberdeen City Council ordered it to be removed, saying the large white canopy looked out of place in the traditional area.
Read the full story in the P&J.
Trump considers 10% tariff on China from February
US President Donald Trump has said he is considering imposing a 10% tariff on imports of Chinese-made goods as soon as 1 February.
Trump said discussions with his administration were "based on the fact that they're sending fentanyl to Mexico and Canada."
It followed threats by Trump to levy import taxes of 25% on Mexico and Canada, accusing them of allowing undocumented migrants and drugs to come into the US.
Government ousts UK competition watchdog chair
The chair of the UK's competition watchdog has been ousted by government ministers who felt that the Competition and Markets Authority (CMA) had failed to convince them it was sufficiently focused on growth.
Government sources said that with the chancellor and business secretary at the World Economic Forum in Davos trying to drum up investment, the government wanted to send a signal that it was serious about growth.
The CMA recently held up a merger between Vodafone and Three Mobile Networks which was eventually approved.
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