Notice: The Chamber's documentation and customs declaration services announce festive opening hours. Click here to view.

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

Beer prices 'will have to rise'

The founder of beer brand Cobra has said prices will have to rise because of a "vicious cycle" of cost pressures.

Lord Bilimoria told the BBC that "virtually every business in every sector" is being squeezed by inflation, interest rate rises and tax increases.

The Cobra chairman, who is also president of the CBI employers' group, said the picture had become really challenging for firms and consumers.

On Sunday, Tesco's chairman warned the worst on price rises is yet to come.

John Allan told the BBC he expected food price inflation to reach 5% by the spring, hitting the "hardest-up harder".

The warnings from two of Britain's most prominent executives come as UK inflation stands at a 30-year high of 5.4%, and it is forecast to top 7% by April.

Plan to remove roof from pub in Aberdeen city centre

Wetherspoons wants to tear away the roof from an Aberdeen pub to turn the first floor into a business-boosting al fresco area.

The national chain is working on the plans for The Justice Mill on Union Street, reports the Press and Journal.

It comes at a time when many bars have spilled out on to the streets with outdoor seating as a way to continue trading during the pandemic.

However, hemmed in along the Granite Mile, the only way is up when it comes to expanding this particular Aberdeen watering hole.

The Tim Martin-owned hospitality giant wants to create a new bar on the first floor, which would serve almost 40 tables on the rooftop terrace and dozens more inside.

Permission is needed from the council for work on the C-listed granite building, and planning documents outline the aims.

Big deal for Arm Holdings is off

The $40billion (£29.56billion) US takeover of Arm Holdings, one of Britain's biggest tech firms, has collapsed in the face of opposition from regulators.

Authorities in the UK, US and EU raised concerns over its impact on competition in the global semiconductor industry, says the Telegraph.

Arm, based in Cambridge, may also face a management reshuffle. It is understood that Rene Haas, head of the company's intellectual property unit, could replace chief executive Simon Segars.

US chipmaker Nvidia will now have to pay a break-up fee of up to $1.25billion (£0.92billion) to the seller, Japan's SoftBank, which is expected to seek an initial public offering to unload Arm.

Arm designs microchip technology that features in smartphones, laptops and billions of internet-of-things devices.

Rise in property prices expected to slow

House price growth is set to slow "considerably" in the coming year, the Halifax has said, as households face a squeeze on their finances.

The mortgage lender revealed that house prices grew by just 0.3% in January - the lowest monthly increase since June 2021.

However, the rise meant the average price hit a record high of £276,759, and the Halifax said affordability remained at "historically low levels".

The BBC adds that annual house price growth remained at 9.7% in January.

The Halifax noted that house price rises continued to outstrip earnings growth.

"Despite record levels of first-time buyers stepping onto the ladder last year, younger generations still face significant barriers to home ownership as deposit requirements remain challenging," said Russell Galley, managing director at Halifax.

More like this…

View all