Here are the business stories making the headlines across Scotland and the UK this morning.
Sharp rise in over-50s coming out of retirement
Jeremy Hunt’s campaign to get older people back to work has been boosted by early signs of a wave of “unretirement”.
The number of 50 to 64-year-olds preparing to get back to work rose sharply in the final three months of 2022, according to analysis of official data by the Institute for Fiscal Studies (IFS), as soaring inflation forced people to rethink whether they can afford to retire.
The Telegraph reports that at the end of last year, one in 20 economically inactive 50 to 64-year-olds said they would start looking for a job in the next three months – or 5.17%of the total.
Scots hit the shops in boost for retailers
The number of shoppers visiting Scotland’s retail destinations has improved sharply, but it still remains below pre-pandemic levels.
Total Scottish footfall rose by 14.5% in February, up by 2.3% from January. The result for last month was also comfortably ahead of the UK average growth of 10.4%.
The Scottish Retail Consortium told The Times the performance was partly thanks with weaker comparable figures in 2022, when the sector north of the border was still under coronavirus restrictions. Total Scottish footfall was 11.1% below where it was four years ago.
Egdon buys Aberdeen-based onshore oil firm Aurora
Egdon Resources has acquired Aberdeen-based onshore oil firm Aurora Production.
Despite having no assets in Scotland, Aurora is “is a UK petroleum exploration and development company based in Europe’s energy capital Aberdeen,” according to its website.
Aurora’s parent – Aurora Production Limited – has paid Egdon £288,000 as part of the deal, on the assumption it will take on all of Aurora’s abandonment liabilities, according to Energy Voice.
Balhousie Huntly care home ordered to make improvements
An Aberdeenshire care home has been ordered to improve care for residents amid concerns about staff pressure.
Balhousie Huntly has been ordered to make three improvements within the next two weeks or it will risk its registration being cancelled.
The P&J said official notice has been sent to the home after concerns were raised about staffing levels and the care provided to residents.
Rising costs could block UK's biggest offshore wind project
An £8billion project to build the world’s biggest offshore wind farm in British waters will be shelved within months unless the government offers tax breaks to offset soaring costs, its developer has warned.
Orsted, the Danish renewable energy company, said that sharp rises in construction and financing costs meant it was no longer viable to build Hornsea Three on the terms agreed with the government last summer.
The wind farm, about 75 miles off the coast of Norfolk, would be the biggest in the world. Its capacity of 2.9 gigawatts would generate enough electricity to supply more than two million homes, according to The Times.
Downing St party investigator offered top Labour job
Senior civil servant Sue Gray, who investigated lockdown gatherings in Downing Street, has been offered a job as Sir Keir Starmer's chief of staff.
A Labour spokesman said Sir Keir was "delighted" that "she hopes to accept the role subject to the normal procedures".
But allies of Boris Johnson reacted with anger to the news. Former minister Jacob Rees-Mogg told the BBC that Ms Gray's Partygate conclusions now looked "like a left-wing stitch up".
A Cabinet Office spokesperson said: "We can confirm that Sue Gray has resigned from the post of Second Permanent Secretary in the Department for Levelling Up, Housing and Communities (DLUHC). This was accepted by the department Permanent Secretary and Cabinet Secretary with immediate effect.
London City airport first to scrap 100ml liquid rule
London City airport will become the UK’s first to scrap restrictions on travelling with liquids — and in time for the Easter holidays.
Airport bosses said all four of its security scanners will be upgraded to new-generation CT machines, similar to those used in hospitals, by the end of March. The move will allow passengers to take up to two litres of liquids through security in their hand luggage. There will also be no need to remove laptops from bags.
The Times exclusively revealed in November that ministers were poised to announce the scrapping of all rules on liquids and hand luggage once the CT security machines were in place at airports.
Hopes of new pay offer to avert more school strikes
Scotland's largest teaching union says it is awaiting written confirmation of a new pay offer for teachers.
EIS general secretary Andrea Bradley said informal discussions earlier in the week "took us within touching distance of a possible settlement".
Formal pay negotiations with Cosla and the Scottish Government were held on Thursday.
Education Secretary Shirley-Anne Somerville told the BBC there were "useful discussions" at the meeting.