Here are the top business stories making the headlines in the morning newspapers.
Drilling of big North Sea gas target
Shell and Deltic Energy will press ahead with drilling a major North Sea gas exploration target later this year.
Energy Voice says Deltic has confirmed that the pair will drill the Pensacola prospect in the third quarter of this year.
The firm, which owns 30% of Pensacola with Shell holding the remaining 70%, said it has prospective potentially recoverable resources of 309 billion cubic feet of gas.
That makes it "one of the highest-impact exploration targets to be drilled" in the southern North Sea in recent years.
A rig selection and contract process is well advanced.
Elsewhere, Deltic is planning to make a drilling decision on Plymouth, a huge prospect which it has compared to the Cygnus gas field, by the end of the third quarter of this year with partner Capricorn Energy.
Record price for rare Macallan
A rare cask of whisky has sold for a record £1million at auction, after being bought 34 years ago for just £5,000.
The Macallan 1988 cask had been forgotten about until the distillery reminded its original owner that it remained maturing in a warehouse.
The online sale, which ended on Sunday, drew bids from around the world. The winner was an individual private buyer from the US.
The BBC said it smashed the existing auction record for a cask, set at £444,000 in 2019.
Held in bond at the Macallan distillery, the 374-litre refill butt was filled on May 5, 1988.
The hammer price was £915,500 at specialist auction site Whisky Hammer, with the bidder paying £1,007,050 including the buyer's premium.
Warning on free trade deal
America's top trade negotiator has said the risk from Brexit to the Northern Ireland peace process remains a significant block to prospects of a free trade deal between the UK and the US.
The BBC says US trade representative Katherine Tai's comments came during talks in Aberdeen with UK counterpart Anne-Marie Trevelyan.
The UK Government is keen to get a US deal, to show post-Brexit progress.
The talks, due to continue today in London, are informal.
Ambassador Tai was speaking after the UK Government floated plans for an Act of Parliament that would effectively revoke the protocol agreed with the European Union, risking the return of border posts around Northern Ireland and a destabilisation of the Good Friday peace agreement.
Drive for net zero will hold up post-Brexit bonfire of red tape
The "huge regulatory cost" of Prime Minister Boris Johnson's drive for net zero will hold back plans for a post-Brexit bonfire of red tape, Jacob Rees-Mogg has warned.
The Brexit Opportunities Minister said the UK Government needs to "face up to" the challenge of burdensome climate red tape and added that efforts to cut emissions must not rely on "endless regulation".
The Telegraph says Mr Rees-Mogg is spearheading an effort to ditch 1,500 individual Brussels rules.
However, he warned that the rise of the net zero agenda means it will not be possible to introduce initiatives such as a "one in, one out" approach, where a piece of regulation has to be scrapped for every new one added.
A raft of new rules are being introduced to help Britain go carbon neutral by 2050.
Costly dispute over peeling paint on Airbus planes
A billion-dollar row between Airbus and Qatar Airways is set to land at the High Court in London today, when a judge will be asked to rule in a dispute about peeling paint on long-haul aircraft.
The Times says the 16-month legal spat originates over whether Qatar, busy preparing its fleet for the football World Cup in Doha this winter, is right to claim that peeling and cracking paint on its A350 aircraft built by Airbus makes the jets unsafe.
The dispute has deteriorated into a full breakdown in relations between manufacturer and airline. Airbus is refusing to fulfil aircraft delivery orders to Qatar Airways, led by Akbar Al Baker, its chief executive, while the airline is pursuing claims for damages racking up at more than £3million a day since the launch of legal proceedings last summer.
At issue is an agreement between Airbus and Qatar that the manufacturer would pay reparations at a rate of over £150,000 per aircraft per day if any A350 was grounded for airworthiness reasons. Qatar has an order for 76 of the aircraft of which, to date, 53 have been delivered.
Cracking and peeling paint on A350s led the airline to ground 23 of its A350s, stating that the aircraft could be in danger in the event of a lightning strike. This triggered damages claims against Airbus.