Here are the top business stories making the headlines across the North-east and nationally today.
Millions braced as energy price rise to be revealed
Millions of people facing a spike in energy costs will find out how much more they will pay later this morning.
Ofgem's new price cap is likely to add hundreds of pounds onto the annual bill for 22million homes - a key factor in the rising cost of living.
The BBC says the regulator's new cap for England, Wales and Scotland - to be announced at 11am - will take effect in April.
Ministers are reported to have plans to provide loans for energy firms to help them cut money from customers' bills.
The cap, which is announced every six months, sets the prices that suppliers can charge for each unit of energy as well as the standing charge.
This is then translated into the expected annual bill for a household that uses the typical amount of gas and electricity.
At present, that is £1,277, but analysts are predicting a 50% rise from April.
No sign of promised cash, claim hospitality companies
Hard-pressed hospitality and tourism companies are still waiting for the government cash they were promised before Christmas, according to industry leaders.
MSPs at Holyrood’s economy committee were told that the distribution of support grants had not been as fast as was needed.
The Scottish government pledged about £100 million initially to compensate for the widespread cancellations of festive activities as the Omicron coronavirus variant took hold. Further funding, taking the total allocated to £375 million, has since been announced to cover the various industries affected.
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Putin and Xi strike alliance to defeat sanctions over Ukraine
President Putin and President Xi will sign a series of deals in Beijing tomorrow as well as discuss a new gas pipeline to China that could provide Russia with an economic lifeline in the event of western sanctions.
The Times reports that China will formally pledge its support for Russia in its dispute with the West over Nato expansion.
Moscow also said that it was looking to move ahead with the construction of a Power of Siberia 2 pipeline that would run to China through Mongolia.
Gazprom, the state-backed energy company, said the pipeline would deliver 50 billion cubic metres of gas a year, doubling Russia’s annual exports to China.
UK Government asks for Cambo update
The UK Government has asked Siccar Point Energy (SPE) for an updated timeline on its Cambo project.
SPE, which holds a 70% operated stake in the field, said it was "pausing" the west of Shetland project in December after partner Shell made the decision to pull out.
Energy Voice says the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED), which oversees offshore oil and gas operations, has now asked for an update as to the status of the development.
It asked the operator to provide further information in relation to "confirmation of the status of the Cambo Phase 1 field development project, including clarification as to the intended project timeline and whether any changes to the project are proposed".
A Siccar Point spokesperson told Energy Voice: "Siccar Point Energy acknowledges the letter from OPRED and will respond to the points raised through the official channels."