Here are the business stories making the headlines locally and across the country this morning.
Harbour Energy narrows full-year production outlook
Harbour Energy, the largest British North Sea oil and gas producer, narrowed its full-year 2024 outlook for total production on Thursday, citing good progress on its capital projects and planned maintenance shutdowns.
The company also reported a net profit for the first half of the year from a year-ago loss when the UK's windfall tax for energy companies wiped out most of the largest British North Sea oil and gas producers' pretax profit.
Following the spike in energy prices in 2022, Britain imposed an energy profit levy (EPL) on oil and gas producers, which raised the tax rate to 75%.
The company expects 2024 production to be between 155 and 165 thousand barrels of oil equivalent per day (kboepd), the mid-point of which is higher than a previous forecast of 150 to 165 kboepd.
Next stage for visitor levy scheme for Aberdeen approved
The next stage for a potential visitor levy scheme in Aberdeen which would raise revenue to be used for improvements for the tourism sector in the city is to be developed.
Aberdeen City Council’s Finance and Resources Committee has approved the move which will see the scheme to charge a fee or tax on overnight stays being developed with key stakeholders.
It will then be reported back to Committee in Autumn 2024 with plans for wider consultation.
Convener of Finance and Resources Councillor Alex McLellan said "I welcome the powers given to Aberdeen City Council through the Visitor Levy (Scotland) Act 2024 and feel the consultation will provide a valuable opportunity to hear the views of stakeholders, including the hotel industry, around any potential scheme.
Slower UK salary growth paves way for more interest rate cuts
Wage growth eased last month and demand for workers steadied, potentially clearing a path for further interest rate cuts by the Bank of England.
According to research by KPMG and the Recruitment and Employment Confederation, the pace of salary growth for both permanent and part-time staff receded in July.
The permanent staff salary index fell to 56.5 last month from 57.1 in June, still above the 50-point threshold that separates growth from contraction. The temporary salary index dropped to 50.9 from 53.7 in June.
The figures, which are closely watched by the Bank of England owing to accuracy issues with official labour market estimates, demonstrate that pay growth is descending from record highs, partly because tight monetary policy is squeezing demand in the economy.
House hunting picks up as some offer after 20 minutes
Property sales will pick up in the autumn owing to a change in the "mood music" in the housing market, surveyors say.
But a survey by property portal Rightmove suggests that some of those buyers will make an offer after short viewings.
A fifth of buyers questioned said they had looked around for less than 20 minutes before putting in their bid.
It comes after the UK's biggest mortgage lender said house prices are likely to rise for the rest of the year.