Here are the business stories making the headlines across Scotland and the UK this morning.

Rachel Reeves to promise 'a Budget to rebuild Britain'

Rachel Reeves will pledge "a Budget to rebuild Britain" in her speech to the Labour Party conference in Liverpool today.

The chancellor is under pressure to provide some optimism after Labour's gloomy messaging on the state of the economy they inherited from the Conservatives.

But her controversial decision to axe winter fuel payments for 10 million pensioners threatens to overshadow her speech, with a vote challenging the move expected on the conference floor the same day.

Reeves - also caught up in the donations row which prompted the PM to say Labour's top team will not accept gifts of clothes in future - is also set to announce plans for a Covid corruption commissioner.

Click here to read more.

Construction giant collapse sees 2,200 jobs cut

Thousands of people have lost their jobs after the UK operations of the international construction giant ISG collapsed into administration.

Some 2,200 workers have been made redundant with immediate effect, joint administrators EY said in a statement on Friday.

The business, owned by the US firm Cathexis, had been struggling financially for some time.

Attempts to secure a rescue deal failed, while 200 employees will be kept on to assist the administrators in winding down the business, which holds more than £1billion worth of government contracts.

Click here to read more.

Boost for motorists as fuel prices drop

Petrol and diesel prices are falling at their fastest pace this year in a boost to motorists as the switch to electric vehicles stutters.

Both fuels are nearly 7p cheaper than a month ago, according to the RAC, with the average price of unleaded down to 136.15p, saving drivers nearly £4 when filling up the tank.

Diesel has dropped to 140.87p on average, leaving the price of both fuels at their cheapest in nearly three years.

The last time fuel prices dropped so quickly was between November and December last year.

Click here to read more

Pensions industry struggles with lump sum stampede

Britain’s pension industry is facing a stampede of savers attempting to withdraw lump sums from their retirement pots amid rising fears of Rachel Reeves’ potential tax raid.

Standard Life, AJ Bell and Royal London are understood to be among the pension giants already receiving a surge in inquiries about tax-free withdrawals ahead of next month’s Budget.

Sir Steve Webb, a former pensions minister, said there is “widespread concern” among the public about the Chancellor possibly reducing the amount of tax-free cash that pension savers can withdraw.

Click here to read more.

Jobs fear over Spanish bid for Harland & Wolff

Fears are growing that the Spanish front-runner to rescue Harland & Wolff will buy only the shipbuilder’s Belfast yard, risking hundreds of job losses across sites in Scotland and Devon.

Navantia, the Spanish state-owned company that is favourite to buy the stricken builder of the Titanic, is understood to be focused on acquiring only the yard that will play an important role in a £1.6 billion Royal Fleet Auxiliary contract.

Harland & Wolff also has sites in Appledore, Devon, as well as Methil and Arnish in Scotland.

Click here to read more.

More like this…

View all