Breaking: UK economy expanded 7.5% last year
The UK economy grew by 7.5% last year - ahead of forecasts - despite falling back in December due to Omicron restrictions, official figures show.
Last year's rebound came after a 9.4% collapse in 2020 as the Covid pandemic spread and lockdown rules were imposed.
The economy had been recovering strongly at the end of last year, but Omicron restrictions saw a 0.2% contraction in December.
The retail and hospitality sectors were the biggest casualties in December.
For the October-December quarter growth was 1%, according to the Office for National Statistics (ONS). That was "pretty healthy", Darren Morgan, ONS director of economic statistics, told the BBC.
North Sea electrification work would cost billions
Analysis by consultancy Xodus Group suggests £3.5bn-£5bn in capital expenditure will be needed to realise the electrification projects required to lower offshore emissions under the UK's North Sea Transition Deal (NSTD).
Speaking at an Oil & Gas UK (OGUK) webinar, representatives from OGUK, the Oil and Gas Authority, Xodus, ABB and wind developer Orsted discussed the technology, policy and investment required to build out low-carbon power for North Sea infrastructure.
Energy Voice reports that the UK offshore oil and gas sector currently emits around 14 million tonnes CO2 equivalent (CO2e) per year - or about 16% of total energy sector emissions.
Under the NSTD agreed last March, the industry must reduce its production emissions by 10% by 2025, 25% by 2027 and 50% by 2030.
While decommissioning and production decline will contribute to a reduction, its current trajectory falls short of the 50% required.
Facelift at city-centre gardens almost finished
A rush for property in Aberdeen's Union Terrace Gardens has been predicted, as the end of a £28.3m facelift nears.
The Press and Journal says talks are at an advanced stage with a preferred tenant for the Rosemount Pavilion built at the top of the Victorian park, across the road from His Majesty's Theatre.
Meanwhile, bids for the Burns Pavilion - halfway down Union Terrace - are due to close this week.
But the largest of the new-builds within the refurbished below-street-level garden, Union Pavilion, remains on the market.
The two-storey building, above the long-closed and neglected public toilets with their mosaic tiling, has been the cause of concern - with interest in the venture being questioned.
But council property boss, Stephen Booth, said ongoing construction work on Union Pavilion was the reason for the prolonged marketing - with willing bidders circling.
However, he remains "confident" interest would translate into firm offers for the space.
More problems with new ferries
Issues with short cabling are set to further delay and increase costs over the already put back delivery of two vessels at the centre of Scotland's ferry fiasco.
The Herald says the latest "bombshell" emerged after it was found on Christmas Eve that some of the electrical cable coils on one vessel currently languishing in state-controlled Ferguson Marine's Port Glasgow shipyard were too short to reach equipment.
After a survey, it was found that there were at least 400 problem cables - and a worse-case scenario of 939 cables.
A new analysis from outgoing turnaround director Tim Hair reveals that addressing the problem is a "time-consuming process" that will further delay the project to deliver the Glen Sannox which was due to serve on one of Scotland's busiest crossing, the Ardrossan-Arran service in May, 2018.
He said it will also further delay the completion of the second vessel known as Hull 802 which was also supposed to be sailing in July, 2018.