Here are the top business stories making the headlines in the morning newspapers.
Fear of horrific winter for energy customers
The boss of Scottish Power has warned that millions of energy customers face an horrific winter unless there is a major Government intervention.
Keith Anderson told the BBC that another expected rise in energy bills in October to between £2,500 and £3,000 a year could see huge losses for suppliers and many customers unable to pay their bills.
The chief executive warned regulator Ofgem that setting the new price cap too low could risk suppliers collapsing or the foreign-owned firms leaving the market.
Mr Anderson has put some flesh on the bones of a plan he first mentioned in a frank exchange with a committee of MPs three weeks ago.
He has called for millions of households to have their energy bills reduced by £1,000 this October.
He said the Government's plan to give each household £200 towards their energy bill - a sum that will need to be paid back - would not be enough.
'Free bet' to enter energy sector
Some new suppliers saw the opportunity to enter the energy sector as a "free bet", a report into regulator Ofgem has found.
The BBC says these companies could pursue a high-risk, high-reward model while knowing there would be little or no cost if things went wrong.
Around 30 suppliers have gone bust since a surge in wholesale prices began last summer.
The costs of those failures are being shared across all consumer bills.
Ofgem, which commissioned the report, said it accepted its recommendations in full.
All energy customers are each paying about £68 extra this summer to cover the costs involved in 30 firms going bust, while one company - Bulb - has been quasi-nationalised.
Stake sold in drilling firm
SD Standard ETC is to acquire 25% of Dolphin Drilling.
The rig-focused investment group, formerly Standard Drilling, said it had secured a quarter of Dyce-based Dolphin through an equity issue for a cash consideration of $10million ((£8.13million).
The deal includes warrants to invest an additional $5million (£4.07million), which would bring SD Standard's total ownership up to 32.5%.
Formerly Fred Olsen Energy, Dolphin owns and operates a fleet of fifth and sixth generation semi-submersible Aker H3 rigs, comprising of the Bideford, Borgland and Blackford Dolphin units.
Energy Voice said the business employs around 350 people at operational bases in Aberdeen and Stavanger in addition to other offshore personnel, and has two further offices in Brazil and Mexico.
Question mark against new nuclear reactor project
A new nuclear reactor plant in Essex is at risk of collapse because of political opposition to a Chinese investor's involvement, French energy giant EDF has warned.
The Big Six energy supplier has told investors it has no obligation to keep funding the project in Bradwell, Essex, and that there is now "great uncertainty" over whether it can be delivered.
In its annual report, EDF also warned it may have to finance billions in extra funding for Hinkley Point C, Britain's first new nuclear plant in three decades, if China refuses to participate in an investment round planned for 2023.
State-owned power company China General Nuclear (CGN) is currently developing the Hinkley plant in Somerset, Bradwell B, and Sizewell C in Somerset, under a nuclear collaboration deal between China and the UK dating back to 2015 in what was seen as a new "golden era" between the two countries.
Kwasi Kwarteng, the Business Secretary, and Prime Minister Boris Johnson put nuclear power at the centre of plans to shift away from a reliance on Russian in a new energy security strategy published in April.
The Telegraph says ministers have been plotting to remove CGN from Britain's nuclear infrastructure amid growing concern about the emerging superpower's involvement. Ministers are trying to secure outside investors to cut CGN out of its co-investment with EDF in Sizewell C.
More sanctions on Russia
The UK has announced a fresh package of sanctions on Russia and Belarus in response to the invasion of Ukraine - targeting £1.7billion of trade.
The Department for International Trade said new import tariffs will apply to goods including platinum and palladium.
It said they will hit Russia's "ability" to fund the war.
The BBC adds that export bans will target chemicals, plastics, rubber and machinery. It takes the value of products subject to UK sanctions to more than £4billion.
The new import tariffs will cover £1.4billion of goods, while the planned export bans are intended to impact products worth more than £250million in sectors of the Russian economy most dependent on UK goods.
Work-from-home crackdown at Treasury
Treasury staff have been warned their security passes are now being monitored to make sure they come into the office, in a new work-from-home crackdown.
Staff have been told their attendance will now be tracked, with bosses collecting data from the access gates at the front of the main building in Whitehall.
Civil servants are now expected to come into the office some of the time, but Chancellor Rishi Sunak has stopped short of ordering them back for a specific number of days per week, as other departments have done.
The Telegraph says that, although many Government buildings have access gates that require a security pass, the Treasury is thought to be the first department to specifically inform employees that their attendance will be recorded using this method.
Although the Treasury says it has seen a "significant increase" in office occupancy, it also appears to have accepted that its staff will partially work from home indefinitely. Job adverts for senior positions stipulate that applicants will be required in the office between 40% and 60% of the time.
Jacob Rees-Mogg, a Cabinet Office minister, has led a charge for "government efficiency" in Whitehall - promising to reduce the overall headcount of civil servants, which swelled during the Brexit process and Covid pandemic.
He has also made clear that he expects Government employees to return to the office, with departments and agencies that do not use their floor space in central London warned they could lose it.