Here are the business stories making headlines locally and across the country this morning.

Typical energy bill to fall £238 a year from April under new price cap

The typical annual energy bill will fall to £1,690 from April to the lowest for two years under the new price cap set by the regulator.

It means a fall of £238 a year for a household using a typical amount of energy.

Lower wholesale prices paid by suppliers have led to the cut in the price cap for April to June, which will bring some relief to billpayers.

But campaigners said bills are still high and many will struggle to pay.

Ofgem said energy prices have fallen to the lowest level since Russia's full-scale invasion of Ukraine in February 2022. It said this "caused a further spike in an already turbulent wholesale energy market, driving up costs for suppliers and ultimately customers".

19-year-old to open new barber shop in Aberdeen following success in Inverurie

It’s only been six months since 19-year-old Morgan Turner opened his first barbershop in Inverurie.

Now the teenager is set to open his second barbershop, alongside business partner Marley Nelson, in Aberdeen.

Morgan fulfilled a dream to open Grade A Barbershop in Inverurie’s High Street.

Next month he will open Grade A in Aberdeen’s Justice Street after investing a five-figure sum alongside Marley.

Rolls-Royce will build first mini-nuclear reactor in Europe instead of UK, boss warns

The first Rolls-Royce mini nuclear reactor will be built in Europe instead of Britain if ministers fail to accelerate decision-making, the engineering giant’s boss has warned.

Tufan Erginbilgic said he was confident the Derby-based company’s small modular reactor (SMR) technology was still far ahead of competitors.

But he said time was running out for the UK to benefit from its “first mover” advantage, as Rolls has also held talks about deploying SMRs in eastern Europe.

It comes as Great British Nuclear (GBN), the public body set up to lead the UK’s nuclear power revival, is preparing to choose which SMR prototypes to support from a shortlist of six companies, including Rolls.

Tony's Chocoloney sued by Milka over copycat campaign

Milka manufacturer Mondalez has taken legal action against Tony's Chocoloney for mimicking its chocolate packaging.

The self-styled ethical chocolate firm has launched four new temporary wrappers, inspired by well-known bars Milka, Nestle, Mars and Ferrero.

The bars were released in Germany and Austria to highlight child labour in the cocoa industry.

Tony's said it had changed the branding and plans to appeal against an injunction that has been imposed.

Mondalez said it would not comment on ongoing legal action, but said it owned a colour trademark in Europe, which Tony's confirmed was the basis of the injunction.

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