Here are the business stories making the headlines across Scotland and the UK this morning.
Aberdeen woman who embezzled £1.5m from employer jailed
A woman who stole more than £1.5m from her employers has been jailed for three years and four months.
Coleen Muirhead, 55, of Aberdeen, had earlier admitted embezzling the money from a metal recycling company.
The High Court in Edinburgh heard she spent it on holidays, cars, caravans and savings accounts for her family..
A judge told Muirhead her actions amounted to a massive breach of trust and she had faced a potential five-year prison sentence.
Lord Fairley said he had noted Muirhead's guilty plea at an earlier hearing, and that she had experienced trauma during her childhood.
Train drivers strikes could continue in to Christmas
The leader of the train drivers' union has not ruled out strike action continuing in to the Christmas period.
Aslef's Mick Whelan told the BBC he did not believe the government or industry wanted a resolution.
A fresh wave of industrial action begins in Friday in Aslef's long-running pay dispute, including strikes and an overtime ban.
The Rail Delivery Group, which represents the train companies, said their offer remained on the table.
More than a dozen train companies will be affected by strike action on Saturday, and on Wednesday 4 October.
City chiefs revolt against Sunak’s net zero overhaul
City chiefs have blasted Rishi Sunak for watering down the Government’s net-zero targets, saying the move risks hitting investment in the UK and erodes the country’s position as a “global leader on climate”.
Aviva, Jupiter Asset Management and the Universities Superannuation Scheme (USS) were among a group of investors to sign a letter warning the prime minister against backtracking on the UK’s climate policies. More than 30 organisations which together manage more than £1.5trillion in combined assets put their names to the letter.
It said: “Diluting ambition at this critical juncture erodes the UK’s position as a global leader on climate, undermines our international competitiveness, and increases the risk that we fail to capitalise on one of the greatest economic opportunities of the 21st century.
“We urge the government to uphold ambition and avoid backsliding on key climate policies… In the absence of strong policy incentives from Government, there is a significant risk that investment will flow to the regions and nations that are taking a more consistent, long-term approach.”
Average five-year mortgage drops below 6%
The average rate on a five-year fixed mortgage has fallen below 6% for the first time since early July, new figures show.
On Thursday, the typical rate dropped to 5.99%, according to the financial information service Moneyfacts.
Lenders have been given some confidence to cut rates after the end of a run of 14 consecutive interest rate increases by the Bank of England.
The average two-year deal has a rate of 6.5%.
Around three-quarters of mortgage customers hold fixed-rate deals. Banking trade body UK Finance says there are about 800,000 of these deals ending in the second half of 2023, and about 1.6 million expiring next year.
Optical Express profits hit by fall in eye surgery
Optical Express owner Lorena Investments has posted a sharp fall in profits as cost of living pressures forced consumers to delay eye surgery.
Annual accounts, reported in Daily Business, show pre-tax profit in 2022 slumped by 23% from £52.14 million to £39.82m on a 7% decline in revenue from £157.39m to £146.54m.
The business is one of the UK’s biggest providers of laser surgery, having carried out two million procedures.
But the company said its financial performance had been affected by the escalating costs while the “significant impact on individuals and families” from cost of living pressures resulted in fewer patients going ahead with eye surgery.
David Moulsdale launched Optical Express in 1990 with a single shop in Edinburgh and remains its chairman and principal shareholder.