Here are the stories making the business headlines in Scotland and the UK this morning.
New takeaway for Union Street approved
Aberdeen City Council has approved plans for a new takeaway on Union Street despite objections from a neighbouring business planning to invest over £1million.
Planners have approved plans for a takeway in the old RS McColl unit at 130 Union Street, next to two units Jamieson & Carry are looking to transform into boutique watch shops.
Jamieson and Carry’s solicitors wrote to the council to object – saying the development would “undermine the character” of the area they’re looking to upgrade.
However, despite a warning that the takeaway could cause Swiss watchmaker Tag Heuer to reconsider its deal with the jeweller, the local authority’s planning department cited the need for Union Street to “diversify”.
Read more on this story in today's Press & Journal.
Harbour and BP agree to develop Viking CCS project
North Sea firms Harbour Energy and BP have joined forces in order to progress the Viking CCS transportation and storage project.
Energy Voice reports that under the terms of the agreement, Harbour will continue as operator with a 60% stake in the scheme, previously named V Net Zero.
Meanwhile, BP has acquired a 40% non-operated share in Viking, in a deal that brings together two of the North Sea’s most experienced players.
Located close to the heavily industrialised Humber region, the projects has the potential to meet one third of the UK Government’s target to capture and store up to 30 million tonnes of CO2 a year by 2030.
Average take-home pay fell by £1,500 last year
Take-home pay fell by almost £1,500 last year as a result of tax increases and rising inflation, figures show.
The average worker is worse off in real terms than a decade ago despite rise in gross earnings, according to calculations published in The Times.
The pain is set to worsen this month as tax thresholds are frozen again, despite surging inflation in what is estimated to amount to a £12 billion Treasury windfall.
More people entertaining at home as cost of living bites
Sales of home accessories and furniture rose sharply in March, as people ate out less to save money and entertained at home instead, new figures suggest.
The British Retail Consortium (BRC) said this helped total retail sales increase by 5.1% last month compared with a year earlier.
It comes as the cost of living remains high, putting pressure on households. Inflation - the rate at which prices are rising - rose 10.4% in the year to February.
Scottish firm Letting Cloud acquired by Airbnb
Scottish proptech firm Letting Cloud has been acquired by US holiday rental company Airbnb.
Daily Business reports that the Edinburgh-based property portal has been trading for four years since being set up by tech entrepreneur Grant MacCusker in 2019 to provide the market with an advertising platform for agents and landlords.
Letting Cloud has over 5,000 agents advertising over 500,000 properties in the holiday, short and long-term rental sectors throughout the UK each year.
The advanced technology behind Letting Cloud will help Airbnb with the Scottish Government’s legislation changes surrounding short-term holiday lets as well as Westminster’s imminent clampdown on ‘party houses’.
Sunak plans tax cut and wage hike in run-up to election
Rishi Sunak is drawing up plans to cut taxes and announce a significant rise in the national living wage in the run-up to the next election as the Tories pin their hopes on the improving economic outlook.
Jeremy Hunt, the chancellor, is considering announcing a cut in the headline rate of income tax in his autumn statement which would be implemented in April next year.
Ministers are being advised that the living wage should rise from £10.42 to £11.16 an hour or more next April 2024, and Number 10 is drawing up plans to go to the polls in the autumn, according to The Times.