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

Aberdeen housing plans

A pair of housing schemes in Aberdeen’s west end could be approved within days.

Developers have launched a combined project across the flattened sites of the former Hilton Treetops hotel and Braeside Primary School.

They aim to build almost 80 properties on land once occupied by the hotel, along with 30 affordable homes at the school site less than a mile away.

The Press & Journal says that, between them, the proposals have attracted more than 200 objections.

The plans, which have been in the works for many months, will go before Aberdeen City Council next week.

Officials are urging elected members to approve both.

Carbon-storage licensing

Twelve companies have secured a total of 20 licences as part of the UK’s first-ever carbon-storage licensing round.

Overseen by the North Sea Transition Authority (NSTA) the licences cover more than 4,600 square miles of offshore acreage.

The NSTA said the names of successful applicants would not be formally disclosed until they had accepted their awards – a process expected to take days or weeks.

Energy Voice says several companies including EnQuest, Neptune Energy and Eni have announced public bids, but it is yet to be confirmed whether these have been successful.

Subsea cable factory for the north

A subsea cable factory in the Highlands is expected to bring £200million of investment and create 150 jobs, the UK and Scottish governments have said.

Japan's Sumitomo Electric Industries announced plans last month to build a facility in the Highlands.

On a visit to Easter Ross, Scottish Secretary Alistair Jack confirmed the plant would be located at Nigg on the Cromarty Firth.

The BBC says the ables will be used to connect offshore wind farms.

Thistle A contract

Italian contracting giant Saipem has been picked to assist in the decommissioning of an aged North Sea installation.

Operator EnQuest announced on Thursday that a multi-million contract for the removal of the Thistle A platform had been awarded to the group.

It covers the engineering, preparation, removals and disposal works for the asset, located about 125 miles north-east of Shetland.

Energy Voice says the Saipem 7000 heavy lift vessel will be used to return the 46-year-old Thistle topsides and jacket to shore, though where the structures will be headed is currently unknown.

Recognition for Unite

Trade union Unite is hailing a “significant” milestone after signing a recognition deal with a major North Sea operator.

It is with Chinese state-owned oil and gas group CNOOC Petroleum Europe, a subsidiary of CNOOC International.

Energy Voice says the deal covers around 140 workers on the Buzzard, Scott, and Golden Eagle platforms and is only the second recognition agreement Unite has secured with an offshore operator.

Asda could cut pay for some workers

Supermarket chain Asda is considering whether to cut the pay of 7,000 staff in the south-east of England to bring it in line with its other stores.

The BBC says staff at 39 stores outside the M25 have been paid more for decades to offset a higher cost of living closer to London.

A spokesperson said all Asda staff had recently been given a 10% pay rise to help with soaring inflation.

The GMB union said Asda was set to fire workers who refused to agree to the new conditions.

The union said the workers were already low-paid, and that planning to reduce pay during a cost-of-living crisis was "inexcusable".

The workers get a so-called "location supplement" of 60p per hour, which Asda may scrap, and a night supplement that it wants to reduce, the GMB said.

Yousaf defends colleague

Humza Yousaf has defended SNP minister Jenny Gilruth over claims she intervened in a constituency issue while she was transport minister.

The Scottish Conservatives allege she broke the ministerial code by delaying vital rail works, costing taxpayers £1million.

They said Ms Gilruth gave "preferential treatment to her constituents".

But the BBC says the First Minister insisted the Tories were "throwing mud" and said her decisions benefited the whole network.

Big demand for food banks

Food banks are having to buy groceries at high prices because donations fail to meet demand from families in need.

The Trussell Trust said 13% of food in emergency parcels was bought, whereas before the pandemic it was all donated.

The BBC says donations do not always match the most-needed items, meaning charities have to buy more to cover shortages.

Disney in escalating feud

The Walt Disney Company has scrapped a plan to invest more than £800million to build a new corporate campus in Florida, it announced.

The reversal comes amid an escalating feud between the entertainment giant and the state's Republican-led government headed by Ron DeSantis.

The BBC says the plan would have seen about 2,000 employees relocate to a Disney-owned complex at Lake Nona, near Orlando.

Mr DeSantis' office has called the announcement "unsurprising".

Semiconductor support is ‘insignificant’

Critics have branded the UK Government's delayed £1billion package of support for the semiconductor industry as "insignificant".

Semiconductors, or chips, are inside everything from phones to cars and the government has just unveiled a new 10-year strategy.

But the BBC says it is facing allegations it is not enough - the US and EU have announced support closer to £40billion.

More like this…

View all