Here are the top business stories making the headlines in the morning newspapers.
Investment Zone plans could be scaled back
The UK government is drawing up plans to cut the tax breaks on offer as part of Liz Truss’s planned “investment zones” in an effort to limit the policy’s multibillion-pound cost, Whitehall insiders have said.
The creation of scores of new low-tax, low-regulation business areas was one of the key “supply-side” economic reforms the prime minister announced last month.
While new chancellor Jeremy Hunt on Monday scrapped many of the measures in the “mini” Budget to help calm financial markets, he said supply-side reforms, including the new investment zones, would be kept.
But one Whitehall official told the Financial Times that there was alarm inside the Treasury about the project amounting to an “open-ended cheque book” because there was no cap on the number of investment zones.
Warning over police jobs
Police chiefs have warned that up to 4,500 jobs could be lost in Scotland to meet tough budget cuts imposed by Holyrood.
The Times says the dire prediction emerged in papers submitted by Police Scotland and the Scottish Police Authority to the Scottish parliament's criminal justice committee.
They claim that savings of up to £300million will have to be made if ministers forge ahead with plans to fund policing with a flat-cash settlement over the next four to five years. Describing the outlook as extremely challenging and concerning, the policing bodies say that officer numbers may need to be cut unless there is additional funding.
They warn of a "fundamental reduction in Scottish policing's capability to respond to the needs of the public we serve" and describe the implications for community policing, operational effectiveness and the force's ability to protect people as significant.
Rescue bids for Matalan
Lenders are preparing to take control of clothing chain Matalan as opportunistic investors begin circling high streets struggling in the shadow of recession.
Rescue bids were submitted on Friday for the business, which is being seen as a "canary in the coalmine" for bricks-and-mortar retail as consumer confidence plunges and financing costs rocket.
The lending arm of Invesco, traditionally known as a retail fund manager, is among a trio of senior bondholders that will decide the fate of the heavily-indebted retailer, the Telegraph has disclosed.
Matalan employs 13,000 people across 230 stores.
Bondholders owed £350million by Matalan effectively control the business after the board failed to refinance the debts this summer. Their debts were due to be repaid in January, but agreed to a six-month extension while an auction was run.
It is understood that they have set a £210million minimum price for the business and are prepared to take control of the company if rescue bids do not meet expectations.
Strike vote at Scottish nursing unions
Nursing unions have criticised an improved pay offer from the Scottish Government, saying a strike vote will continue.
The BBC says the proposed deal is for a flat rate of £2,205 per person, backdated to April.
The Royal College of Nursing (RCN) said it was a real-terms pay cut and accused the government of not listening to staff concerns.
Ministers said the offer reflected the "hard work" of NHS staff and would help during the cost-of-living crisis.
The RCN had asked for at least 5% above inflation which rose to 10.1% in September.
The new offer means an average salary increase of 7%, with the lowest paid gaining more than 11% and qualified nursing staff receiving up to 8.45%.
Surge in sales of large batteries
Britons are snapping up large batteries costing up to £1,400, as concerns grow over winter power cuts.
A large manufacturer of portable batteries, Anker Innovations Technology, has said that sales were up to three times higher in October than in the previous month.
Normally, it sells power station products to the US where power cuts are more common, while UK customers have traditionally only bought them for camping.
But the Telegraph says Britons who worry about possible blackouts this winter are now stocking up, said PR manager Lorna Smith.
The 757 Powerhouse model, which costs around £1,400 and can recharge a portable fridge for 22 hours, is sold out until December "due to overwhelming demand".
Meal deals get more expensive
Tesco has raised the price of its meal deal as food costs soar.
The sandwich, snack and drink deal will increase to £3.40 for Tesco Clubcard members after more than 10 years being priced at £3. It will go from £3.50 to £3.90 for those without a loyalty card.
The BBC says food prices are rising at their fastest rate in 42 years, squeezing household budgets and driving grocery inflation to 14.6% in the 12 months to September.
Tesco said its meal deal still represented "great value".
The supermarket said more than 70% of its customers currently use a Clubcard, which is a free card that gives customers discounts.
In February, Tesco upped the price of its meal deal from £3 to £3.50 for non-Clubcard members, but the latest rise marks the first time the popular lunch choice has gone over £3 for all customers.
Ashley builds stake in Asos
Mike Ashley has seized on Asos's bombed-out share price to build a stake of more than 5% in the online fashion retailer, says the Telegraph,
Market sources said that Frasers Group, the billionaire's listed holding company, notified Asos late on Friday that it had become a significant shareholder. The move came days after Asos announced an emergency cost-cutting plan alongside pre-tax losses of £32million.
Frasers has acquired its stake for roughly a tenth of what it would have cost just 18 months ago, when Asos was riding high on the pandemic online shopping boom.
Its valuation has collapsed from more than £5billion in March last year to little over £500million on Friday, making a 5% stake worth roughly £25million. It makes Frasers the fourth-biggest shareholder in Asos, ahead of Schroders but far behind its top investor, the Danish billionaire Anders Holch Povlsen on 26%.