One of Glasgow’s best-known pubs is set to remain closed until performances resume at the nearby King’s Theatre, a major source of customers for the public house, in a move that this week highlighted further the deep difficulties faced across the hospitality and entertainment industries.

Located just across Bath Street from the theatre, The Griffin is one of several establishments in the city owned by Oli Norman, the founder of daily deals venture itison.

READ MORE: Although his other venues have resumed trading as lockdown has eased, Mr Norman said The Griffin was the “most challenged”, as it is specifically impacted by the lack of theatre and corporate custom.

Standard Life Aberdeen this week saw first-half profits tumble by nearly one-third to £195 million as revenue came under pressure from market volatility sparked by coronavirus and outflows linked to the loss of a major fund management deal with Lloyds Banking Group.

READ MORE: The Edinburgh-based investment giant cited the fall-out from Covid-19 as fee-based income dropped by 13 per cent to £706m, noting that investors had been taking shelter from the volatile conditions by switching to less risk-based cash and liquidity assets.

Oil services tycoon Sir Ian Wood this week highlighted the potential for North Sea firms to support the transition to a lower carbon energy system but said they need to devote more resources to the effort.

READ MORE: Sir Ian noted a report published by the Oil and Gas Authority found United Kingdom Continental Shelf activities including oil and gas and renewables could achieve 60 per cent of the country’s decarbonisation requirements.

The co-founder of the company behind the £25 million Rangers Football Club kit contract has hailed the launch of the team’s away jersey after selling 30,000 in the first weekend of its launch.

READ MORE: The white Castore away kit was worn for the first time during the Ibrox club’s 1-0 win over Aberdeen and is believed to have been the best opening day of the season for online sales in more than 15 years.

Diageo, the global drinks giant, has underlined its commitment to a multi-million whisky investment in Scotland but has said its flagship Johnnie Walker visitor centre in the Scottish capital will not meet its original completion deadline of the end of this year.

READ MORE: The company saw its half-year profits almost halve following the closure of pubs and bars in the face of the coronavirus pandemic, which also temporarily halted the revamp of the former House of Fraser store in Princes Street into a seven-storey whisky centre with rooftop bars and brand experience.

Also this week, Scottish fashion retailer M&Co said it is closing 47 stores and cutting around 380 staff in a rescue deal that will save more than 2,200 jobs and 218 stores.

READ MORE: In a move designed to strengthen the firm’s city centre and online presence, the founding McGeoch family and current owners are buying back the business in a ‘pre-pack’ administration. This is an insolvency procedure which allows a firm to sell itself, or its assets, before it appoints an administrator, without affecting its day-to-day operations.

Brodies, Scotland’s largest independent law firm by income and headcount, says current activity is tracking ahead of projections made in March but results for the full year will be affected by the coronavirus pandemic.

READ MORE: Unveiling its financial performance for the 12 months to April 30, managing partner Nick Scott said the numbers were pulled lower by the outbreak of Covid-19, which led to lockdown restrictions being imposed in the UK on March 16. However, the firm still managed a 7 per cent rise in turnover to £82 million, up from £76.9m previously.

A fleet of hydrogen-powered double decker buses that is claimed to be the world's first is due to be launched in Scotland later this year in what is seen as a major step forward in the use of hydrogen as a fuel.

READ MORE: First Aberdeen is to run the 15 buses and Aberdeen City Council said earlier the new vehicles will further underline the city’s role as a pioneer in hydrogen.

Italian restaurant group Tony Macaroni has launched a franchise model that it declared could create as many as 2,000 jobs across the UK.

READ MORE: The Glasgow-based chain, owned by Sep Marini, said the roll-out could result in £50 million being invested in the hospitality industry in the next the three years. 

Opinion: Scott Wright: Johnson happily posed with crabs on Orkney when there were other fish to fry​

Opinion: Mark Wiliamson: Oil giants must move fast to deliver on net zero pledges

Opinion: Kristy Dorsey: Grandiloquent language no substitute for concrete action

Monday Interview: Fintech pioneer has faith firm can weather the storm​

SME Focus: Glasgow firm has helped keep lights on amid coronavirus lockdown​

And finally .... From the Bulletin: Aberdeen lockdown a 'devastating blow' to businesses | Insurance giant to be taken private | Cafe bar operator sees shares spike on like-for-like sales