Here are the business stories making the headlines across Scotland and the UK this morning.
World needs $2.7 trillion annually for net zero emissions by 2050
Global investment of $2.7trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday.
Scientists have said the world ideally needs to limit global average temperature rise to 1.5C this century to avoid catastrophic effects from climate change. Many governments have pledged to reduce emissions to net zero by mid-century to help achieve this.
However, most countries are not on track to even meet emissions targets by 2030, let alone 2050, Reuters said.
Profits at Peter Vardy fall by 45%
Profits at the motor dealer Peter Vardy have fallen by almost 45 per cent after a sharp rise in costs.
Revenue rose by 5% to £609 million, according to accounts for 2022 being lodged at Companies House.
The company, which is a shirt sponsor of Scottish Rugby, pointed out costs had grown because of increasing interest and business rates alongside higher utility costs and wage rises for staff.
Pre-tax profit was £6.1million last year, compared with £11million in the previous 12 months.
Blow for Keir Starmer as Labour support drifts back to SNP
Sir Keir Starmer’s chances of forming a majority government have been dealt a blow, according to a poll that reveals support for Labour in Scotland is drifting back to the SNP.
In a reversal of a trend showing Labour almost neck and neck with the nationalists, research for YouGov put clear water between the parties, giving the SNP an 11-point advantage.
The survey, reported in the Times, is a welcome boost for Humza Yousaf, the first minister, before the Rutherglen & Hamilton West by-election, his first major electoral test since replacing Nicola Sturgeon in March.
UK chip designer shares surge in market return
Investors snapped up shares of UK chip designer Arm Holdings as it returned to the stock market, sending its market value to more than $60bn (£48.3bn).
The shares ended trade on Thursday worth more than $63 each, after rising by almost 25% from the $51 apiece that Arm received from the sale.
The sale was the biggest initial public offering of the year, raising $4.87bn for owner Softbank Group.
The share price jump has been seen as a vote of confidence in the firm, according to the BBC.
Lidl blames loss on opening new shops and rising costs
Lidl has revealed its British business swung to a loss last year as a result of its expansion plans and costs rising "across the board".
The discount supermarket reported a full-year pre-tax loss of £75.9m, after posting profits of £41.1m the year before.
Lidl said it had opened more than 50 shops in a year and increased its market share among its rivals.
It added it had "held firm on its promise" of lower prices for shoppers.
Loyalty card prices mask price hikes, says Which?
Supermarkets' loyalty schemes are not the bargains they appear to be, according to a leading consumer rights group.
Which? says Sainsbury's and Tesco are inflating the regular price advertised for a product so that the promotional prices offered to loyalty scheme members look like a better deal than they really are.
The supermarkets reject those claims.
Sainsbury's and Tesco said all prices have been going up due to inflation.
Flights cancelled as Gatwick short of air traffic control staff
Dozens of flights were cancelled, delayed or diverted on Friday due to a shortage of air traffic control staff at Gatwick airport.
Both arrivals and departures were affected, with passengers advised to contact their airline.
It follows the widespread disruption on August 28 and the following days, when the National Air Traffic Services (Nats) control system for the entire UK was hit by a technical glitch.
Michael O’Leary, Ryanair’s boss, told the BBC that the disruption marked a “blatant failure to adequately staff” air traffic control in the UK.