Here are the business stories making the headlines across Scotland and the UK this morning.
'Music is back' as Taylor Swift helps drive record UK sales
UK music sales hit a 20-year high of £2.4billion in 2024, helped by pop megastar Taylor Swift's latest album, and driven by streaming and the vinyl revival, figures show.
Revenues from recorded music reached an all-time high, more even than at the peak of the CD era, according to annual figures from the digital entertainment and retail association ERA.
Total consumer spending on recorded music - both subscriptions and purchases - topped the previous record of £2.2billion in 2001, ERA said.
Facebook and Instagram get rid of fact checkers
Meta is abandoning the use of independent fact checkers on Facebook and Instagram, replacing them with X-style "community notes" where commenting on the accuracy of posts is left to users.
In a video posted alongside a blog post by the company on Tuesday, chief executive Mark Zuckerberg said third-party moderators were "too politically biased" and it was "time to get back to our roots around free expression".
The move comes as Zuckerberg and other tech executives seek to improve relations with US President-elect Donald Trump before he takes office later this month.
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Shein lawyer refuses to say if it uses Chinese cotton
A senior lawyer representing Shein has repeatedly refused to say whether the company sells products containing cotton from China, prompting an MP to brand her evidence "ridiculous".
Yinan Zhu, general counsel for the fast-fashion giant, confirmed its suppliers did manufacture products in the country, but declined to say whether they used Chinese cotton.
Firms that source clothing, cotton, and other products from the Xinjiang region in the north west of China in particular have come under pressure following allegations of forced labour and human rights abuses.
Asda trails the pack for supermarket sales over Christmas
Debt-laden Asda was the worst-performing supermarket chain over Christmas.
The private equity-controlled group suffered a 5.8% fall in sales in the 12 weeks to December 29, driving its market share down from 13.5% to 12.5%, data from the market research group Kantar showed.
Asda said it had seen improvements to its sales and market share in the four weeks to December 29 compared with the same period in 2023.
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