Here are the business stories making the headlines locally and across the country this morning.
UK inflation stays at 2.2%, above Bank of England target
The UK’s annual inflation rate rose by 2.2% in August, matching the increase in July, hovering just above the Bank of England’s 2% target.
Figures from the Office for National Statistics (ONS) show the government’s preferred measure of the cost of living remained steady as consumers cut back spending on big-ticket items.
Consumers have seen inflation ease from above 10% in early 2023, mainly because of lower increases in the cost of energy and food.
The rise in the consumer prices index (CPI) was below the Bank’s forecast for a rise of almost 2.4%.
More than 140 Post Office convictions could be quashed in Scotland
More than 140 convictions related to the Post Office's Horizon scandal could be quashed in Scotland.
The Scottish government has identified 141 cases where people could be eligible to be exonerated under new legislation that came into force in June.
However, a Freedom of Information request shows the justice secretary has so far written to only two victims to tell them their convictions have been overturned as a result of the new law.
The Scottish government said it should have contacted the majority of people eligible within the next two months.
Read the full story here.
Major Instagram update for teenage users
Teenage Instagram users will get new privacy settings, its parent company Meta has announced in a major new update.
It is an attempt by Meta, which also owns WhatsApp and Facebook, to reduce the amount of harmful content seen online by young people.
Instagram allows 13-year-olds and above to sign up but after the privacy changes, all designated accounts will be turned into teen accounts automatically, which will be private by default.
Offensive words and phrases will be filtered out of comments and direct message requests, and the teenagers will get notifications telling them to leave the app after 60 minutes each day.
Guardian in talks to sell world's oldest Sunday paper
The owner of the Guardian has confirmed it is in talks to sell the Observer, the world's oldest Sunday newspaper, to Tortoise Media.
Tortoise has approached Guardian Media Group (GMG) with an offer to invest around £25m over the next five years on the "editorial and commercial renewal" of the Observer.
Tortoise was launched five years ago by James Harding, a former BBC News chief and a former editor of the Times newspaper.
The Guardian reported that the title will remain a seven-day-a-week digital operation regardless of the outcome of negotiations with Tortoise about the Observer.
Read the full story here.