Here are the top business stories making the headlines in the morning newspapers.
World Bank reports biggest increase in energy prices since 1973
The war in Ukraine is set to cause the "largest commodity shock" since the 1970s, the World Bank has warned.
In a new forecast, it said disruption caused by the conflict would contribute to huge price rises for goods ranging from natural gas to wheat and cotton.
The increase in prices "is starting to have very large economic and humanitarian effects", Peter Nagle, a co-author of the report, told the BBC.
He said: "Households across the world are feeling the cost-of-living crisis. We're particularly worried about the poorest households since they spend a larger share of income on food and energy, so they're particularly vulnerable to this price spike."
Energy prices are set to increase more than 50%, pushing up bills for households and businesses, the World Bank says.
The biggest rise will be in the price of natural gas in Europe, which is set to more than double in cost. Prices are forecast to fall next year and in 2024, but even then will remain 15% higher than they were last year.
The World Bank said this means that from the lows of April 2020 until the highs of March this year we have seen "the largest 23-month increase in energy prices since the 1973 oil price hike", when tensions in the Middle East sent prices soaring.
Overdue CalMac ferries expected to be completed next year
The new boss of the troubled Ferguson shipyard has said he believes the two overdue and overbudget CalMac ferries will be finished next year at a total cost of £206million.
David Tydeman dismissed claims that the final cost of the two ships could be double that figure.
And he said he would be "very disappointed" if more money was needed.
Mr Tydeman took over as chief executive of the nationalised shipyard on the Firth of Clyde earlier this year.
The contract to build the two new ferries - the Glen Sannox and a second vessel known as Hull 802 - is already two-and-a-half times over its original budget and about five years late.
A former shipbuilding advisor to the Scottish Government, Luke van Beek, claimed last month that the cost of completing the two ferries could be up to £400million and suggested it might be cheaper to scrap the project and start again.
Mr Tydeman told BBC Scotland that he "just can't understand where people make those numbers up from".
He said he had "certainly not" been given a blank cheque by the Scottish Government to finish building the ships, and that it remained his intention to deliver both ships for £206million by the end of 2023. That figure is on top of a £45million loan previously given to the shipyard by the government.
More acreage for Australian company in central North Sea
Finder Energy has acquired further acreage around the CNOOC Buzzard field in the central North Sea.
Energy Voice says the Australian-based firm has struck a deal to acquire 100% of the P2527 licence owned by compatriot Talon Petroleum, which lies adjacent to the 1.5 billion-barrel Buzzard.
Finder said the licence lies around 62 miles off Aberdeen and contains the "White Bear" prospect, though it did not disclose estimates for recoverable resources.
'Major shock' to business with European trade
The introduction of new post-Brexit trading rules last year caused a "major shock" to UK-EU trade, a study claims.
The BBC says research from the LSE Centre for Economic Performance found UK imports from the EU fell by 25% relative to those from elsewhere in 2021.
Its authors suggest new rules had also caused many UK firms to stop exporting to the trade bloc.
No firm commitment on free-trade deal with US
America's top negotiator has insisted UK trade talks are moving in the right direction, but she refused to make a firm commitment to a free-trade deal.
Katherine Tai urged the UK and the EU to work together to ensure that the risk from Brexit to the Northern Ireland peace process is eliminated.
Her comment came at the end of two days of talks in Aberdeen and London with UK counterpart Anne-Marie Trevelyan.
The BBC says the UK Government is keen to get a US deal, to show post-Brexit progress.
British Chambers of Commerce Director General, Shevaun Haviland, who attended the first day of the Dialogues in Aberdeen, is optimistic progress can be made.
“The Chamber Network looks forward to engaging with both Governments’ teams in the coming weeks to turn these optimistic steps into concrete actions to boost UK-US trade by the end of this year," she said.