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

New owner for Macb

North-east flavoured water brand Macb is under new ownership following a takeover deal valuing the international business behind it at around £6.6billion.

Macb is part of global beverage bottler and contract manufacturer Refresco, which has just been acquired by US-based investment company Kohlberg Kravis Roberts (KKR).

Refresco, whose global operations are headquartered in Rotterdam in the Netherlands, produces more than 6.5million gallons of some of the world's favourite soft drinks every day.

The Press and Journal says the takeover by KKR has already been approved by all regulatory authorities, meaning the Macb factory in Macduff is now part of KKR's worldwide portfolio.

Other businesses owned by KKR include marine energy and infrastructure company Acteon Group, the parent of north-east firms Utec NCS Survey, Bruce Anchor, InterMoor and Aquatic Engineering & Construction, J2 Subsea and Seatronics.

KKR has taken a majority stake in Refresco, with existing investors PAI Partners and British Columbia Investment Management Corporation maintaining a "significant" minority interest.

MPs criticise Ofgem

Ofgem has been "negligent" and "incompetent" in its regulation of the energy supply market over the past decade, resulting in higher household bills and costing taxpayers billions, MPs have concluded.

The regulator allowed companies with "glaringly inadequate financial arrangements and high-risk business models" to enter the market, failed to enforce its own rules and did not heed repeated warnings about poorly=run suppliers, according to MPs on the Commons' business, energy and industrial strategy committee.

The Times says their report is the most damning yet on the failures of 29 suppliers over the past year, at an estimated cost to all energy bill-payers of at least £2.7billion, or £94 per household. These costs exclude those arising from Bulb, the biggest failed supplier, which is being dealt with through a taxpayer-backed special administration that is expected to cost at least £2billion.

"Ofgem's negligence has contributed to higher energy bills," the MPs say. "Ofgem has proved incompetent as the regulatory authority of the energy retail market over the last decade ... The scale of failure and the cost exposure to taxpayers is only comparable to the financial crash of 2008."

They say that if Dermot Nolan - Ofgem's chief executive from March 2014 until January 2020 - were still in the job, they would be "calling for his dismissal".


No holding back for Sunak and Truss in TV debate

Rishi Sunak and Liz Truss tore into each other over their rival visions for the future of the UK economy, in their first head-to-head TV debate.

The two contenders to be the next PM did not hold back from "blue-on-blue" attacks in the hour-long BBC special.

Mr Sunak told Ms Truss her tax-cut plan would "tip millions of people into misery" and cost the Conservatives the next election.

Ms Truss said tax rises brought in by him would lead to a recession.

The BBC says the foreign secretary and former chancellor, who until three weeks ago were in the same cabinet, talked over each other at times and shot angry glances across the stage at Stoke-on-Trent's Victoria Hall.

Russia accused of gas war

Ukraine has accused Moscow of waging a "gas war" against Europe and cutting supplies to inflict terror on people.

Russian energy firm Gazprom announced it is reducing gas flows into Germany to allow work on a turbine on the Nord Stream 1 pipeline.

But Ukraine's President Volodymyr Zelensky said this was simply "gas blackmail" against Europe.

The BBC says it comes as hopes remain that grain exports from Ukrainian ports could resume this week following a deal.

Gazprom said on Monday it needed to cut gas supply to around half of current levels in order to carry out maintenance work, but the German Government said there was no technical reason for it to limit the supply.

The Nord Stream 1 pipeline, which runs under the Baltic Sea with gas from Russia to Germany, has already been running well below capacity for weeks, and was completely shut down for a 10-day maintenance break earlier this month.

Russia supplied the EU with 40% of its gas last year, and the EU has accused Russia of using energy as a weapon.

Cost of Prime on way up

Amazon has announced that it will increase the price of its Prime delivery and streaming service to cope with "increased inflation and operating costs".

The technology giant said that it would raise the price of Prime from £7.99 per month to £8.99 from September 15 for new customers or on the date of a customer's next renewal. Annual membership will increase from £79 to £95 per year in the UK.

Subscribers receive free unlimited delivery, entertainment streaming and live sport through the Prime service.

Nick Baker, a streaming and TV expert at the price comparison website Uswitch.com, told the Times: "This price rise is a blow to customers at a time when money is tight for millions of people across the country."

New profits warning from Walmart

US retail giant Walmart has warned over its profits for the second time since May, as the soaring cost of food and fuel hits customer spending.

The company says it now expects profits to fall by as much as 13% this year.

One expert told the BBC that Walmart's unscheduled announcement "signals a warning bell for the retail sector".

The firm's stock market value slumped almost 10% in after-hours trade in New York.

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