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

More bad news on gas and electricity costs

Gas and electricity bills are likely to rise by a further £500 this autumn, ministers have been warned, as the war in Ukraine weighs on wholesale energy prices.

The Times says an initial assessment from Ofgem, the energy regulator, is understood to have concluded that the energy price cap is on course to rise to about £2,400 in October.

Ofgem is said to have warned ministers that there is considerable uncertainty in the estimate - and it could be higher if the disruption to markets continues throughout the summer.

However, UK Government sources denied claims that internal Ofgem estimates had suggested the price cap could rise to up to £5,000 in a worst-case scenario.

Ithaca Energy wants open dialogue on Cambo

The chairman of Ithaca Energy, soon to be the new operator of the controversial Cambo oilfield, has said the firm wants open dialogue with environmentalists and other parties on its future.

Gilad Myerson said work on emissions is "paramount" for Ithaca, and hopes to gain support from all parties should it succeed in meeting climate regulations and UK Government guidance for the project.

Cambo continues to be a battleground for climate campaigners, including those who criticised regulatory approval of Ithaca's comparatively-tiny project, Abigail, in the North Sea earlier this year.

Ithaca is hoping to reach a final investment decision on Cambo next year, but is first going into discussions with partners, the Government and the North Sea Transition Authority.

It is also working to fully understand the emissions profile of the project as a priority, Mr Myerson said, as the company seeks to slash its own emissions by 25% by 2025 - two years ahead of industry targets set out in the North Sea Transition Deal.

Sharp economic slowdown expected by mortgage lenders

Mortgage lenders are said to be betting on a sharp economic slowdown as a Covid public spending blitz that artificially pumped up growth finally comes to an end.

The Telegraph states that movements in the market suggest that banks and building societies are bracing for the recovery to run out of steam, forcing the Bank of England to abandon its cycle of interest rate rises.

Data from Moneyfacts shows that the interest charged on five-year fixed rate mortgages is now barely more than on two-year ones - a sign that lenders believe Threadneedle Street will be unable to sustain a run of increases past 2024.

It came as official GDP data showed that growth dropped to a crawl in February, with the economy still only bigger than its pre-pandemic peak because of higher spending on healthcare - mostly driven by the UK Government's fight against Covid.

Output was just 0.1% higher than a month earlier, even before the war in Ukraine increased the pressure on the global economy and squeezed households.

Union frustration over North Sea wind contract

More work on big wind developments in Scottish waters looks destined to go abroad, sparking fresh union anger.

The 200-turbine project from Cerulean Winds involves three floating wind farms west of Shetland and in the central North Sea.

Cerulean last year said the schemes would cost in excess of £10billion, and it revealed US energy service firm NOV as a key partner.

Energy Voice now reports that NOV has "stated its intent" to use UAE fabricator Lamprell as its provider for fabrication, assembly and outfitting.

Dan Jackson, founder of Cerulean, highlighted that the projects will help power offshore platforms with green energy - an urgent task for slashing emissions, and requires large-scale capacity. In a statement on Monday, Lamprell said it was working closely to "support and develop UK local content goals".

It added that it "will engage together in discussions with UK supply chain and UK yard(s) interested in participating in the projects, and able to offer suitable solutions".

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