Scottish State Bank Posts £138mn Loss; UK Eyes Ukraine Missile Deal

Scotland's state-backed development bank has reported a net loss of £138 million for the latest financial year, marking its fifth consecutive annual shortfall since inception. The bank described the period as "challenging," attributing the loss to portfolio writedowns and the failure of five companies it had supported.

In a separate development, the UK Treasury has enlisted a business rates expert to examine complaints from the pub and hotel sector about alleged unfair taxation. The move is part of the government's broader effort to revitalise town centres, with the review expected to address sector-specific concerns.

Meanwhile, Prime Minister Andy Burnham is set to travel to Kyiv on Monday for his first overseas visit since taking office. During the trip, he is expected to pledge support for the construction of long-range missiles in Ukraine, capable of striking targets inside Russia.

Across the Atlantic, US President Donald Trump faces domestic criticism over the collapse of trade negotiations with Canada. The deteriorating relationship between the two countries threatens to increase financial strain on American consumers, with midterm elections looming.