Here are the top business stories making the headlines in the morning newspapers.
Warning over waste piling up north of the border
A union leader has warned that "waste will pile up" after the latest pay offer from Scottish council leaders was rejected.
Unison's Johanna Baxter confirmed strike action by workers, saying the 3.5% offer announced on Friday was "derisory".
GMB called the Cosla offer "pathetic", while Unite said it was "nowhere near good enough".
The Scottish Government said it was disappointed and urged Cosla to "urgently reconsider" its position.
The BBC says strike dates are planned in August and September, with different times expected for each union.
Improved pay offer for Scottish police
Police officers in Scotland have agreed to an improved pay offer weeks after rejecting an initial "derisory" offer of £565.
All ranks will get a 5% pay rise, backdated to April 1, as well as a similar increase in allowances.
The BBC says it was welcomed by Police Scotland's Chief Constable Sir Iain Livingstone.
Calum Steele, who represented staff in the negotiations, said it would mitigate cost-of-living pressures, but not fully overcome them.
The pay rise matches that offered to officers in England in July.
In a letter to officers, Mr Steele, from the Scottish Police Federation, described the latest offer as a "substantial improvement" on the initial offer which worked out at 1.4%.
Altera in Chapter 11 bankruptcy process
Altera Infrastructure has said there will be no impact on its operations or employees as it enters a Chapter 11 bankruptcy process.
The firm, listed in New York but with a head office in Westhill just outside Aberdeen, is entering the process with the US courts as it seeks to restructure more than £1.24billion of debt.
Energy Voice says Chapter 11 lets firms continue trading while paying off debts.
Altera has already reached an agreement with lenders and banks for its restructuring, and is working towards confirmation of the restructuring plan by the end of the year.
The company, which supplies production units for operators in the North Sea and further afield, has 130 employees in the UK: 44 onshore in Aberdeen, alongside nine on the Voyageur Spirit and 77 on the Foinaven FPSO.
Altera, which employs more than 2,000 people worldwide, said there will be no impact on workers or operations as a result of the restructuring.
Call for more support for households
The UK Government needs to double its support for households as energy bills rise "off the charts", according to the boss of ScottishPower.
Chief executive Keith Anderson said people were feeling "genuine fear" that they would not be able to pay bills.
Consultancy Cornwall Insight has warned that energy bills for a typical household could hit £4,266 next year.
The BBC says the UK Government has already announced £37billion of support for households, but is under pressure to do more.
Ministers promised in May that £400 of support would be paid to all households, with up to £1,200 for the most vulnerable.
Mr Anderson said: "People's concern about how they're going to make ends meet when the price cap goes up at the start of October is palpable, and turning to genuine fear."
He warned that the "tough conditions for UK households are going to get much, much worse before they get better - and are going to endure for longer than any of us could have expected".
PwC to accept applicants with lower degrees
PwC, one of the UK's largest graduate employers, has said it will no longer just look for new recruits with a first or 2:1 degree.
The accountancy firm said accepting applicants with lower second-class degrees would help increase the socio-economic diversity of its workforce.
"Talent and potential is determined by more than academic grades," PwC said.
Around 14% of graduates received a lower second-class degree, or 2:2, last year.
UK universities award degrees that are classified in four categories: a first, an upper second (2:1), a lower second (2:2), and third-class honours.
The BBC says that, typically, professional services firms have required students to have a 2:1 or above.
Darktrace gets takeover approach
A US private-equity firm has launched a multibillion-pound takeover bid for the cybersecurity company Darktrace.
The move by Chicago-based Thoma Bravo is the latest American raid on the British tech sector.
Darktrace said last night that it was in the early stages of negotiations with the US firm, which previously bought fellow UK cyber company Sophos for £3.1billion in 2019.
The British company - which was founded by entrepreneur Mike Lynch - said that there was no guarantee a deal would go ahead.
Shares in Darktrace closed on Monday at 414.8p before the bid was announced. The stock was floated at 250p in April 2021.
The market cap yesterday was just under £3billion.
Darktrace told the Telegraph: "Discussions are at a preliminary stage and there can be no certainty that any offer will be made, nor as to the terms of any such offer."