Banking giant NatWest has axed £7.6 million in potential payouts to former chief executive Dame Alison Rose after she left the company in July following the fall-out from the debanking row with Nigel Farage.

The company, which owns Royal Bank of Scotland, said she has not been considered a "good leaver" following her departure and will therefore not receive most of the discretionary parts of her pay package.

The former chief will nevertheless get £2.4 million for 12 months' worth of pay and benefits plus around £800,000 for former bonus shares due to vest in March next year.

NatWest, which is 38.7% owned by UK taxpayers, stressed that there was "no finding of misconduct" against the former executive.

The announcement comes a little under four months since Dame Alison stepped down as chief executive of the bank, which also owns Coutts.

Her departure came after she said that she had spoken to a BBC journalist about former Ukip leader Nigel Farage's relationship with Coutts.

‘Are we crazy?’ Island tunnel backers say plan is better than ferries

Island tunnel backers have said the plan to dig undersea links is more economically viable than the current ferry service.

A report of Unst and Yell Tunnel Action Groups’ visit to the Faroe Islands highlights a series of potential social and economic benefits should the Shetland projects go ahead. It includes the growth of local communities, increased employment and leisure opportunities, retention of the population, housing development, improved capacity for the movement of perishable foodstuffs, and a positive impact on the move to carbon neutrality.  

UNIQLO of Japan opens store in Princes Street in Edinburgh

Japanese retailer UNIQLO has announced the planned opening of its first store in Scotland.

The outlet, in Princes Street, will open in the spring of 2024. This first UNIQLO store to open in Scotland will have a sales floor of around 1,430 square metres over two floors. Alessandro Dudech, chief operating officer of UNIQLO UK, said: "We are excited to take this next big step in the UK’s expansion plans with the Edinburgh store opening in spring 2024."