Here are the business stories making the headlines across Scotland and the UK this morning.

Wood pays $115m to settle legacy lawsuit

Engineering giant Wood has agreed to pay out $115m (£97.5m) to settle a legacy lawsuit.

The Aberdeen-based firm's settlement follows the conclusion earlier this year of a lawsuit involving Enterprise Products Operating LLC.

Enterprise first filed a lawsuit against Amec Foster Wheeler and one of its subsidiaries in 2016, the year before Wood bought Amec, according to the BBC.

It related to alleged cost increases and delays on a project agreed in 2013.

Just Stop Oil hits Silver Fin with paint

Just Stop Oil has covered Aberdeen’s Silver Fin building in orange paint in a sign of “solidarity” with fellow activist group, Extinction Rebellion.

Energy Voice reports that three of the protestors have since been arrested.

The Union Street offices house Neo Energy and the primary target of the protest, Barclays bank – while oil giant, Shell, will move in soon.

Concerns are building among Scottish companies

Concerns over the economy, inflation and political upheaval have driven a further fall in Scottish business confidence.

Skills shortages are another area of concern for companies, according to research by the Institute of Chartered Accountants.

According to The Times, its business confidence monitor for Scotland for the fourth quarter of the year produced a measure of -16. It marks a fifth consecutive period of a declining mood in the long-running survey.

Higher energy costs and interest rates alongside difficulties in hiring in a tight labour market were cited as being among the reasons for the negative reading.

Post Office branches could close over energy costs

The head of the Post Office has warned that soaring energy bills risk causing swathes of local branches to close unless government support is extended.

Nick Read urged Jeremy Hunt, the Chancellor, to consider the cost to communities of not providing extra help for post offices to pay their energy bills from April as soaring prices put many branches under threat.

Businesses have been provided six months of support towards energy bills from the Treasury but only the most vulnerable industries will receive extra help beyond that period.

“Current government support on energy costs is essential to many post offices staying open,” Mr Read told The Telegraph.

Investment cuts could threaten levelling up and net zero

The government's targets for "levelling up" and "net zero" are at risk if too much investment spending is cut in the Autumn Statement, its top adviser on infrastructure has warned.

The head of the National Infrastructure Commission told the BBC it was crucial the government stuck to its policies.

Last week, the government confirmed that much infrastructure spending was under review.

Sir John Armitt expressed concern about the delivery of investment required to hit net zero targets for carbon emissions, saying the UK risked falling behind other countries.

"If everybody stuck to the policies, we'd get to net zero. The actual delivery is where we're falling down. So we can't afford to take our foot off the pedal, we've got to keep going, otherwise we will not get to net zero."

Cost of living sends over-50s back to work

Nine in ten economically inactive over-50s are considering returning to work, The Times reports, as the soaring cost of living looks set to force people into new jobs.

Since the beginning of the pandemic, the number of people aged 50 to 64 classed as economically inactive has risen by 3.6 million, or 10 per cent, with many taking early retirement.

That looks set to change as record inflation, pension worries and higher energy bills have left 91 per cent of inactive workers in the age bracket considering re-entering the workforce, according to CV-Library, the online jobs website.

British ship brings first gas exports from Mozambique

BP has begun shipping liquefied natural gas (LNG) from Mozambique's vast new reserves, opening up supplies that could help ease Europe's energy crunch.

The first export shipment to set sail was hailed as a milestone for one of Africa's poorest nations, where huge offshore deposits were found more than a decade ago.

The consignment left the offshore Coral Sul plant, managed by Italian company Eni, in an LNG tanker called British Sponsor bound for an unnamed European destination.

The Telegraph says BP has a long-term deal to buy 100%of the LNG output from the plant, which has the capacity to produce up to 3.4 million tonnes per year.

Wind farms chief issues warning on energy profits levy

The boss of one of Britain’s biggest green energy companies has warned that it will “reconsider” its investment plans if the government imposes a windfall tax that it regards as unfair on renewable power generation.

Keith Anderson, chief executive of ScottishPower, told The Times that the wind farms group accepted the need to pay more tax, but only subject to certain conditions. He said a windfall levy should be applied to the entire power generation sector, should tax only genuine windfall profits and should provide generous tax breaks for investment in renewables.

This week Jeremy Hunt is expected to increase the energy profits levy on North Sea oil and gas producers imposed in May from 25 per cent to 35 per cent and to confirm that it will be extended in some form to the power generation sector.

Jeff Bezos pledges to give away most of his wealth

Amazon founder Jeff Bezos has said he plans to give away most of his $124bn (£107bn) fortune during his lifetime.

The businessman told news network CNN he would donate his wealth to fighting climate change and reducing inequality.

He has previously been criticised for not promising to dedicate his fortune to charity.

Sunak reveals Clyde Navy contract

The prime minister has announced a £4.2billion contract to build five new Royal Navy warships on the Clyde and support 1,700 jobs in Govan and Scotstoun.

The Times says the deal awarded to BAE Systems for five more Type 26 frigates comes on top of the three already under construction, with all expected to be operational by the middle of the next decade.

Rishi Sunak made the announcement while he was attending the G20 summit in Bali and Ben Wallace, the defence secretary, said that the order would boost the British shipbuilding industry.

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