Here are the business stories making the headlines across Scotland and the UK this morning.
Aberdeen hospitality boss says business uncertainty draining confidence
Aberdeen hospitality boss Allan Henderson has warned that fear over job losses, rising costs and uncertainty in the oil and gas sector is draining confidence from the north-east economy.
The McGinty’s Group managing director said businesses across Aberdeen are experiencing a “growing weariness”.
He said hospitality operators are battling soaring overheads while workers worry about redundancies in the energy industry.
Read the full story in The Press and Journal.
Ineos and Shell press on with oil and gas exploration in America
The energy empire controlled by the British billionaire Sir Jim Ratcliffe is joining forces with Shell to explore for untapped oil and gas reserves in the Gulf of Mexico, and warned that without fiscal and regulatory change it would continue to prioritise investment in America over the UK.
Ineos Energy and Shell will seek exploration and development opportunities near the Appomattox platform, which is Shell’s largest, 80 miles off the coast of Louisiana.
The agreement comes after Ineos acquired a 21% interest in the platform from the state-run China National Offshore Oil Corporation last year.
Read more on The Times website.
Trump says US to 'guide' stranded ships through Strait of Hormuz
President Donald Trump has said that the US will help guide stranded vessels out of the Strait of Hormuz from Monday.
"For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways," he wrote on social media, without specifying which countries would receive assistance.
Trump said any interference in the process, which he called "Project Freedom", will "have to be dealt with forcefully".
Read the full story here.
Food inflation over past five years to hit 50%
Food prices in the UK are poised to be 50% higher by November than they were in 2021, according to researchers.
This would mean that the price growth seen in the nearly 20 years before the cost of living crisis began in 2021 could be repeated in just over five years — almost quadrupling the pace of food inflation, the Energy and Climate Intelligence Unit (ECIU), a think tank, warned.
Some of the steepest rises have been seen in the cost of staple foods including pasta, frozen vegetables, eggs, beef and chocolate, which have all leapt by between 50% and 64%, while the cost of olive oil has soared 113%. This is a result of their exposure to volatile oil and gas prices, synthetic fertiliser costs and droughts, floods and heatwaves.
The full article is available on The Times website.
Aberdeen city centre welcomes Chilo’s as new burger restaurant takes shape on Union Street
Signs have gone up for a new restaurant in Aberdeen city centre, with Chilo’s set to open at the corner of Union Street and Bon Accord Terrace.
The brand, which already has a presence in Glasgow, focuses on bold, “family-style” dining with an emphasis on freshly prepared food made to order in an open kitchen.
It will be the first branch in Aberdeen.
Read more in The P&J.
Ted Baker creditors get pennies after advisers charge millions
Ted Baker’s unsecured creditors are to recoup only £694,000 of the £50.3 million they were owed after City advisers charged millions of pounds for their work on the insolvency.
Hundreds of jobs were lost when the fashion brand closed its remaining British stores in 2024, ending a 36-year presence on the high street.
There were nearly 700 claims from unsecured creditors including suppliers, landlords and customers. Documents have now revealed their “first and final” dividend, worth 1¼p in the pound.
Get the full story in The Times.
UK to enter talks to join £78bn EU loan scheme for Ukraine
The UK intends to begin negotiations to join a £78bn (€90bn) European Union loan scheme seen as providing vital support for Ukraine.
Sir Keir Starmer will tell the European Political Community (EPC) summit in Armenia on Monday about the UK's ambitions, which further signals the government's desire for closer ties with the EU.
The prime minister said the talks are aimed at strengthening Ukraine's defences while also trying to give UK firms access to future contracts.
Read the full BBC article here.