Here are the top business stories making the headlines in the morning newspapers.
UK economy bounces back
The Office for National Statistics reported this morning that the UK economy grew by a better-than expected 0.3% during January.
Analysts had predicted modest growth of just 0.1%, after December’s 0.5% drop.
Darren Morgan, director of economic statistics at the Office for National Statistics told the BBC: "The economy partially bounced back from the large fall seen in December.
“The main drivers of January's growth were the return of children to classrooms, following unusually-high absences in the run-up to Christmas, the Premier League clubs returned to a full schedule after the end of the World Cup and private health providers also had a strong month.
"Postal services also partially recovered from the effects of December's strikes."
Aberdeenshire bus funding cut
Fears have been raised that countryside communities could be cut off after Aberdeenshire Council voted to cut bus funding by more than £600,000.
The Press & Journal says the blow comes as the local authority battles to plug a £66.8million funding gap over the next year.
Council leader councillor Mark Findlater said the budget-setting process came amid “unprecedented financial challenges”.
Last year, it was predicted the council would face a £21million black hole.
But the figure has tripled due to the war in Ukraine, the lingering impact of the pandemic and the cost-of-living crisis.
The Conservative warned that rising costs and an increased demand on services created a “perfect storm” as he began yesterday’s crunch meeting.
Last month, the local authority agreed to rise council tax by 4% as one way of bridging the gap.
This will see the council receive an additional £1.65million over the next year to help balance the books.
But Mr Findlater noted more cuts may be required, saying setting the budget was “by no means a fixed position”.
Council jobs are expected to be slashed over the next year – with some posts not being filled if they become vacant.
It will save the council around £1million.
Meanwhile, voluntary redundancy severance will also be offered to staff in a move that would generate £2million.
Teacher pay-offer decision
Scotland's largest teaching union is expected to announce later today if members have voted for a pay offer to end long-running school strikes.
The EIS recommended for its members to accept the deal giving a 7% rise backdated to last April, a further 5% next month and 2% in January.
The BBC says the union had suspended planned strikes when the offer was made last week.
Members of the Scottish Secondary Teachers Association (SSTA) accepted the package on Thursday.
The EIS, SSTA and NASUWT unions have been in a year-long industrial dispute with councils.
Financial woes for young homeowners
Young homeowners are most likely to be financially stretched as a result of higher mortgage rates, according to the Financial Conduct Authority.
An estimated 356,000 mortgage borrowers in Britain could face difficulties with repayments by July next year, the regulator said, with those aged 18 to 34 most affected.
The BBC says the FCA defines mortgage borrowers as being financially stretched if more than 30% of their gross household income was going towards mortgage payments and they were not already behind on payments.
Fruit and veg supply issues ease
Asda and Morrisons are lifting restrictions on the sale of some fruit and vegetables as supply issues are beginning to ease.
Limits on cucumbers will be lifted at Morrisons, whilst restrictions on lettuce and broccoli will be lifted at Asda.
However, restrictions of three per person on tomatoes and peppers at Asda will remain.
The BBC says many supermarkets restricted sales of some vegetables, blaming bad weather.
Asda is fully lifting restrictions on cucumbers, lettuces, broccoli, cauliflower, raspberries and salad leaves.
It said that supply of remaining restricted produce is expected to be back to normal within weeks.
Tomatoes, lettuce and peppers are still limited at Morrisons to two per person.
Reduction in North Sea flaring
North Sea flaring has been cut in half following four consecutive years of reductions, new analysis from the industry regulator shows.
Energy Voice says that last year offshore flaring fell again, by 13% to 22billion cubic feet (bcf) of gas, for a total decrease of 50% since 2018 when volumes totalled 44 bcf.
Energy standing charge headache for pubs
Pub landlords are searching for the best energy deal as costs continue to soar.
But many are finding each quote includes a hike to the standing charge - the fixed daily fee to suppliers - with some saying it would rise from 29p to £4 a day.
UK Hospitality said restaurants, pubs and bars were being hit with 600% rises in standing charges with "absolutely no justification or explanation".
But the trade body for energy firms said charges were higher due to costs.
Energy regulator Ofgem told the BBC it was "aware" some businesses were being asked to pay additional costs. It said it was looking to see if action was needed.
Big jail sentence for Ng
The former head of Goldman Sachs in Malaysia will be sent to prison in the US for his role in a massive financial corruption scheme.
A US judge sentenced Roger Ng to 10 years, after he was convicted last year in a trial concerning the looting of billions of dollars from the country's 1MDB sovereign wealth fund.
The BBC says the scandal led to massive fines for Goldman and rocked Malaysian politics.
Ng had denied the charges, which included money laundering and bribery.
In 2020, former Malaysian Prime Minister Najib Razak was sentenced to 12 years in jail after he was found guilty in a Malaysian 1MDB trial.
Ng, who had argued he was a "fall guy" for bigger players, had hoped to be set free.
But prosecutors sought 15 years in prison for Ng, saying he played a key role in a corruption scheme that took funds intended for infrastructure and economic development projects and instead used the money for bribes and personal gain.
Hole in tech firm’s accounts
A British tech champion has been plunged into an existential crisis after suspected fraud by a senior sales employee blew a £15million hole in its accounts.
Wandisco, valued at almost £1billion at the start of yesterday, was forced to suspend trading in its shares on London's Aim stock market as it revealed last year’s annual revenues were much less than previously announced.
The Telegraph says the disclosure comes just days after Wandisco said it hoped to secure a secondary listing for its shares in New York.
Bosses blamed the actions on a senior sales employee, and said they were in relation to “received purchase orders and related revenue and bookings”.