The long-term impact of coronavirus on the high street began to become apparent this week as Marks & Spencer revealed its plans for a “never the same again” overhaul after the outbreak as it warned trading is expected to be affected for the whole of 2020.

The retail giant, which employs 7,000 people across 100 stores in Scotland, said it expects its clothing and home arm to be “severely constrained” during the Covid-19 lockdown and remains under pressure due to an expected phased lifting of social distancing restrictions.

READ MORE: M&S said that trading in its food business has also been hit by the closure of cafes and wider lockdown affecting travel and city centre sites.

In another of our best-read online stories this week, a Glasgow-based biotechnology firm has claimed the discovery of two separate potential novel treatments for Covid-19 patients before they are put on ventilators.

READ MORE: The firm said it is now urgently seeking funding of £4m to accelerate safety studies and clinical trials.

Shares in Omega Diagnostics soared this week following further progress with one of its partnerships to potentially roll out millions of tests to detect Covid-19 antibodies.

READ MORE: The AIM-listed firm’s stock rose by more than half as investors welcomed news that the Scottish diagnostics specialist has received permission to market the test in the UK and Europe. This CE Mark was granted just a week after Omega agreed to let the test’s developer, Bedfordshire-based Mologic, make the tests at Omega’s facility in Littleport, Cambridgeshire.

A detached office building in central Glasgow was put on the  market with the opportunity to create a hotel among the development opportunities flagged by selling agent CBRE.

READ MORE: Portcullis House at 21 India Street, which is owned by Mapeley, occupies a “substantial heritable island site of 0.826 acres”, with the property extending to around 99,782 sq ft, CBRE noted.

As the coronavirus crisis continues to rip through the economy, a Scottish engineering giant said it is to cut 800 from payroll as oil downturn hits US business.

READ MORE: The cuts come as the Glasgow engineering giant takes further steps to preserve cash amid the crisis, which it expects to have a greater impact on business in the second quarter.

Royal Bank chief warns Covid crisis will lead to a surge in bad debts

READ MORE: The chairman of Royal Bank of Scotland has warned that it is “inevitable” bad-debt charges will rise because of the blow dealt to the economy by the coronavirus pandemic.

Also this week, Aberdeen engineering giant Wood has been appointed to provide engineering support services for South African energy to chemicals heavyweight Sasol.

READ MORE: Wood has entered a five year agreement under which it will help Sasol develop new facilities in South Africa.

Ian McConnell: Right to look at money going into these people’s pockets​

Mark Williamson: Should North Sea oil firms get special treatment amid crisis?

Scott Wright: Covid crisis will deny shareholders chance to put bosses on the spot

Kristy Dorsey: A firm feeling we can't count upon Sunak's loan scheme

Marc Crothall: Tourism – looking to the future

Monday Interview: Building resilience against illness and climate change

And finally: Murray Estates' Edinburgh garden district approved by Scottish Government​