CLYDESDALE Bank owner National Australia Bank is reported to have appointed Morgan Stanley to advise on the potential flotation of its UK operation.

The Sunday Telegraph reports Macquarie, Credit Suisse and Bank of America Merrill Lynch are also in the running for roles on the initial public offering.

The report suggested Clydesdale, along with Yorkshire Bank, could attract a valuation as high as £2.4billion.

NAB's recent annual report confirmed it was looking at ways to accelerate its exit from UK banking with chief executive Andrew Thorburn making it one of his priorities.

Accor Hotel plans to open two new hotels in Edinburgh and Glasgow next year to take its estate in Scotland to 20, according to the Sunday Herald.

The hotel chain has plans to add a further 10 sites, in the budget and mid-market segments, across Scotland by 2017.

Aviva executives are in line to get the top jobs if its £5.6bn tie-up with Friends Life goes ahead.

The Sunday Telegraph says Aviva chief executive Mark Wilson, its finance director Tom Stoddard and incoming chairman Sir Adrian Montague will fill the same roles in the enlarged group.

Meanwhile The Sunday Times suggests insurance entrepreneur Clive Cowdery could bank as much as £160million from the deal in shares and bonuses, dating from his Resolution acquired Friends Provident as part of the creation of Friends Life.

The Scottish Fishermen's Federation has warned the European whitefish industry is facing collapse unless new rules on discards are abandoned or changed, according to the Sunday Herald.

The report outlines how the SFF believes fishing boats will be unable to operate once they have reached a certain quota within a species, for example cod, even if they still have unused quotas for other types of fish.

The Mail on Sunday says Scottish bib and teether making business Cheeky Chompers has lined up a distributor for its products in the United States.

The Glasgow company failed to attract support on Dragon's Den earlier this year but is on course for sales of £500,000.