Here are the business stories making the headlines across Scotland and the UK this morning.
Pay growth catches up with price rises
Wage growth has caught up with rising prices for the first time in more than a year, according to the latest official figures.
Regular pay, excluding bonuses, rose by 7.8% in May to July compared with the same period last year.
Inflation, a measure of how fast prices of goods and services are rising, rose at the same pace over the same period.
"This means people's real pay is no longer falling," said the Office for National Statistics (ONS).
AI supercomputer could boost Tesla’s valuation by $480bn
Tesla shares have surged after a Wall Street bank predicted that the electric car company’s value would rise above $1.2 trillion (£958bn) because of investments in an artificial intelligence supercomputer.
Morgan Stanley predicted that Tesla’s “Dojo” AI system used to train driverless cars could give the company an “asymmetric advantage” against rival carmakers.
Elon Musk, Tesla’s chief executive, has said that driverless software will make his cars significantly more valuable, although the arrival of autonomous Teslas have taken longer than he predicted.
Tesla has said it expects to invest more than $1bn in its Dojo supercomputer, a high-powered system using thousands of custom microchips that can process huge quantities of video footage collected by its cars.
Bank rate-setter warns of further interest rate rises
Interest rates need to rise further to crush inflation, a top Bank of England policymaker has warned, in a blow to mortgage borrowers’ hopes that higher borrowing costs may soon ease.
Catherine Mann, a member of the Monetary Policy Committee (MPC), told the Telegraph that the Bank needed to prove “our commitment to do what is necessary to achieve the 2% [inflation] target, sooner rather than later”.
Officials have already raised rates 14 times from 0.1% in December 2021 to 5.25% today, but Ms Mann said more increases are needed to ensure inflation does not get stuck at high levels.
She said: “To pause or to hold the policy rate lower for longer risks inflation becoming more deeply embedded, which would then require more tightening in total."
Dolly the Sheep creator Ian Wilmut dies aged 79
One of the creators of the world's first cloned mammal, Dolly the sheep, has died at the age of 79.
Prof Sir Ian Wilmut's work, at the Roslin Institute in Edinburgh, laid the foundations for stem cell research.
That technology aims to cure many of the diseases of ageing by enabling the body to regenerate damaged tissue.
The BBC says his legacy is the creation of a field known as regenerative medicine, which has huge potential to enable more people to live longer, healthier lives.
The creation of Dolly in 1996 was arguably one of the greatest scientific achievements of the 20th Century.
First Wilko store closures begin today
The first Wilko shop closures will begin today after the collapsed retail chain failed to find a buyer.
Stores including those in Liverpool, Cardiff, Acton and Falmouth are among 24 branches to shut, with a further 28 closing on Thursday.
It marks the beginning of the end of the Wilko brand on the High Street, with all 400 of the discount chain's shops set to close by October.
Around 12,500 staff are likely to lose their jobs.
Britain needs China to hit net zero, says Kemi Badenoch
Britain needs China to reach its net zero targets, the Business Secretary has said, as Cabinet ministers insisted a row over spying should not result in a breaking of ties with Beijing.
Kemi Badenoch’s comments came as Tory backbenchers demanded action against China in the wake of allegations that a parliamentary researcher was a spy for the country.
She was one of a series of senior ministers, including the Prime Minister, to speak out in favour of continuing to engage with Beijing despite the claims.
Scotgold Resources warns over future as shares suspended
The future of Scotland’s only commercial goldminer is hanging in the balance.
The Times reports that Scotgold Resources has suspended trading in its shares on the London Stock Exchange and has said it needs significant funding to continue as a going concern.
The announcement came after a review of its operations in July and in the wake of “disappointing” production figures for the first half of the year.
Scotgold spent more than a decade raising funds and obtaining permits and consent for the Cononish mine, a project on the edge of Loch Lomond and the Trossachs National Park where gold was discovered in the 1980s.