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Here are the top business stories making the headlines in the morning newspapers.

Review of major Aberdeen projects

A review has been launched of all major Aberdeen projects amid fears "significant cost increases" could force the council to mothball facilities and raise prices.

Multi-million-pound projects - including a refresh of the city centre and plans to build thousands of new council homes - could be delayed or downsized as Town House chiefs try to trim the fat.

The Press and Journal says the review will include the £150 million city centre and beach masterplan - promising a new market on a potentially pedestrianised Union Street.


More than half of Scots work from home

More than half of employees in Scotland are now working from home either all or part of the time and employers must make it easier for frontline staff to access flexible work to avoid losing people, according to reports published today.

The Times reports that one of the research papers says roles in areas such as nursing, caring, trades and deliveries have failed to see any benefits from the wider adoption of remote working practices.

There is an acknowledgement that providing flexibility in some sectors is more challenging in the Flex on the Frontline study, which took responses from more than 1,000 Scottish adults and 201 employers.


New call for full pedestrianisation of Union Street

City planners have urged new backing for full pedestrianisation of Union Street - on the eve of the long-awaited return of buses to the Granite Mile.

Councillors have been recommended to support the permanent closure of the Market Street to Bridge Street stretch as the council's preferred option moving forward.

The Press and Journal says that, only four months ago, the SNP and Liberal Democrats - now in power but then in opposition - voted down pedestrianisation.

But now officers are urging them to reverse that decision, citing calls from local businesses and traffic modelling.


Tesla's new factories are 'gigantic money furnaces'

Elon Musk says Tesla's new factories in Germany and the US are losing billions of dollars due to battery shortages and supply disruptions in China.

The entrepreneur also called the plants in Berlin and Austin, Texas, "gigantic money furnaces".

Covid-19 lockdowns in China this year, including in Shanghai where Tesla has a huge factory, have made it increasingly difficult for manufacturers to operate.

The BBC says that, in recent weeks, Mr Musk has been warning of job cuts at the firm.

"Both Berlin and Austin factories are gigantic money furnaces right now. It's really like a giant roaring sound, which is the sound of money on fire," said Mr Musk, who is the electric vehicle maker's chief executive.


No comment from Springfield on any move for Stewart Milne Homes

Springfield Properties announced another acquisition today but its boss was non-committal on speculation linking the Moray housebuilder with a potential takeover of Stewart Milne Homes (SMH).

Asked if SMH, headquartered in Westhill, near Aberdeen, could be London-listed Springfield's next target, chief executive Innes Smith said; "It would not be appropriate to comment."

A sale of Stewart Milne Group's housebuilding business is expected to get under way before the end of this year.

It comes after Stewart Milne, the group's multi-millionaire founder and owner, decided to retire.

The Press and Journal says Mr Innes was speaking after Springfield unveiled plans to bolster its fortunes with a £46.3million deal in the central belt.

The firm has entered an agreement to buy the housebuilding business of Glasgow-based Mactaggart & Mickel.


UK inflation hits 9.1%

Prices are continuing to rise at their fastest rate for 40 years, says the BBC.

UK inflation edged up to 9.1% in the 12 months to May, from 9% in April, said the Office for National Statistics. (ONS) said.

Fuel and energy prices are the biggest drivers of inflation, but the ONS said food costs had pushed it up further.

Currently, inflation is at the highest level since March 1982, when it also stood at 9.1% and the Bank of England has warned it will reach 11% this year.


Production vessel arrives at Pierce

The vessel which will produce Pierce, a new North Sea gas redevelopment project for Shell, has arrived at the field.

Energy Voice says the Haewene Brim was at the Aibel yard in Haugesund, Norway, for several months of refurbishment work.

Pierce is 165 miles east of Aberdeen and has historically been an oil-producing field, with associated gas being compressed and reinjected.

This new project will allow for associated gas to be exported via a new pipeline to the St Fergus terminal.


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