Here are the top business stories making the headlines in the morning newspapers.

MSPs warn over Scottish recycling scheme

A group of MSPs have now told the first minister it would be "reckless" to introduce a recycling scheme as planned in August.

The cross-party group, which includes SNP MSPs, has written to Nicola Sturgeon amid "extensive and wide-ranging concerns" about the project.

The deposit-return scheme is designed to boost recycling via a 20p deposit on single-use drinks bottles and cans.

But critics fear it will disrupt trade, raise prices and reduce choice.

Under the current proposals, the 20p deposit will be refunded to shoppers when they take empty cans and bottles back for recycling.

It is being set up to increase recycling and reduce the amount of cans and bottles dumped as rubbish.

The BBC says the letter was signed by former Scottish rural economy secretary Fergus Ewing and veteran SNP MSP Christine Grahame. The group also includes Conservative MSPs Maurice Golden and Brian Whittle, Labour's Claire Baker and Paul O'Kane and Liberal Democrat Liam McArthur.

Price of salmon could jump

Salmon will become more expensive unless Norway abandons "devastating" new plans to tax the industry, the world's biggest farmer of the fish has warned.

Mowi, which runs salmon farms in Norway and Scotland, said a new 40% tax rate proposed by the government in Oslo would push up prices across the region.

Chief executive Ivan Vinheim said the plans would leave fishermen in the country paying an effective tax rate of 62% and have a "devastating" impact on the industry.

"In practice it will put growth to an end," Mr Vinheim said. "In all industries, if supply does not meet demand, it will impact the price."

The Telegraph says Mowi has already put its investments in Norway on hold in anticipation of the new tax.

Recovery in beer drinking

Heineken, the world's second-largest brewer, yesterday repeated its forecast of a profits increase this year despite weakness in Europe.

The group reported a higher-than-expected 2022 profits on the back of a recovery in beer drinking to pre-pandemic levels.

The Dutch-based company whose brands also include Tiger and Sol, said operating profits would, but at a slower mid-to-high-single-digit percentage rate in 2023.

Reuters said this reflected continued cost savings, a challenging economy and lower consumer confidence in some markets.

Mortgages for 80-year-olds in China

China is offering mortgages to borrowers as old as 80 as lenders scramble to prop up the country's beleaguered housing market following strict zero-Covid restrictions.

The Telegraph says several lenders across the country have extended their borrowing age in a bid to stimulate growth after property investment slumped by 10% last year - the first drop since 1999.

Sales of residential property fell by 14% in January compared with a year earlier, according to data from 40 major cities compiled by China Real Estate Information.

The mortgage borrowing age limit has increased from an average of 65-70 years to one of the highest in the world - the UK in comparison has a typical maximum age of between 65 and 70 years.

Price rises at McDonald's

Fast-food chain McDonald's is putting the price of five of its menu items up.

The BBC says that, last summer, the company increased the price of a cheeseburger for the first time in more than 14 years.

Soaring inflation around the world hasn't dented McDonald's sales, which grew last year by more than 10%.

McDonald's said it was committed to "affordable prices".

"However, like many businesses, the impact of the increase in food and energy costs continues to affect our company and our franchisees."

McDonald's said that franchisees set their own pricing, and the following price rises are a guide:

  • Mayo chicken from 99p to £1.19
  • Bacon mayo chicken from £1.59 to £1.79
  • Bacon double cheeseburger from £2.49 to £2.69
  • Triple cheeseburger from £2.69 to £2.89
  • Medium carbonated drink from £1.39 to £1.49

President of World Bank to step down

The president of the World Bank will step down from his post in June, leaving the organisation almost a year before his term was due to end.

David Malpass announced his decision on social media, without providing a specific reason for his departure.

The pick of former US President Donald Trump, he has been criticised as a climate change denier.

Last year, the White House rebuked him after he said he did not know if fossil fuels were driving climate change.

The BBC says he later apologised for the remarks.

Mr Malpass started his five-year term in April 2019, after serving in the US Department of Treasury during the Trump administration.

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