Here are the top business stories making the headlines in the morning newspapers.
Intensifying skills shortages north of the border
More than three-quarters of Scottish firms are seeing trading hit or growth stalled amid intensifying skills shortages.
The Open University’s annual Business Barometer report, which was conducted in partnership with the British Chambers of Commerce (BCC) this year, found 84% of organisations north of the border say the impact of skills shortages is causing increased workload on other staff.
And 70% of survey responders in Scotland agreed that their organisation is currently facing skills shortages, up from 62% in the 2021 Business Barometer report.
Aberdeen & Grampian Chamber of Commerce Chief Executive Russell Borthwick told the Press and Journal: “By 2030, a fifth of Scotland’s population will be of retirement age and by 2050 this will be one quarter.
“Our nation’s overall population growth since 1970 is only 5% - well behind peer nations.
“As we attempt to recover from the pandemic and grapple with the impact of geo-political events, these worrying statistics, together with the results of this survey, confirm that labour and skills shortages are worsening, acting as a dangerous drag on economic recovery and growth.
“Workforce and skills planning has never been more important and it’s vital that policy makers, employers, our education system and training providers work meaningfully together to ensure our businesses have access to the people and skills needed to achieve our economic potential.”
More needed than just tweaking Scots tax rates
Tax in Scotland needs to be both raised and fundamentally reformed, according to a think tank report.
Reform Scotland said the needs of an ageing population, at a faster rate in Scotland than elsewhere, mean that it will not be enough to tweak tax rates.
It argues tax reform is overdue, as the falling number of taxpayers meets the growing cost of more older people.
Governments, it said, should be looking to shift the tax burden from income towards wealth.
It also said the sources of tax need to be broadened.
The BBC says the paper also considered the upfront investment needed to mitigate climate change. However, it did not consider the implications of Scottish independence.
New owner for Aubin
North-east energy services firm Aubin Group is now under Italian ownership following a sale by its previous shareholders.
Italmatch Chemicals, based in north-west Italy, swooped to buy the Ellon business for an undisclosed sum from shareholders including founder Paddy Collins and banking industry-backed investor BGF.
Queen’s Award-winning Aubin is internationally recognised as a key developer and supplier of chemical solutions for the energy industry, with a long-term focus on research and development.
The company’s last published accounts show pre-tax losses and turnover of £1.2million and £4.5million respectively in the year to June 30, 2021.
The Press and Journal says about 20 employees will join Italmatch’s international oil and gas business unit following the takeover.
Economics of North Sea find 'transformed'
Baron Oil has said economics on its Dunrobin project in the North Sea have been “transformed” with the surge in commodity prices and new UK Government policies.
Energy Voice says the minnow is due to make a “drill or drop” decision on the inner Moray Firth target, believed to hold gross prospective mean resources of 100million barrels, next year.
More products priced at £1
Poundland is increasing the number of products it sells for a pound as retailers battle for customers.
Around half of its products are priced at a pound, but the business says by the end of this week 60% of what it sells will be a pound or less.
The discount chain says it is seeing a rise in customer numbers as people seek savings as the cost of living rises.
Recent surveys have suggested customers are spending less on their food shop because of rising prices.
Supermarkets Asda and Tesco have said customers are cutting back.
Asda told the BBC that some shoppers are asking cashiers to stop scanning items when the till total hits £30 as they try to cut costs. Many customers are also switching to budget ranges.
Meanwhile, Tesco, the UK's largest supermarket, has said it is seeing early signs that shoppers are changing their habits due to high inflation - the rate at which prices rise - such as buying less food and visiting more frequently.
The big grocers have also been investing heavily in keeping prices as low as possible for everyday essentials and the market is fiercely competitive.
Passenger charges for airlines to be cut at Heathrow
Heathrow has been told to cut passenger charges for airlines each year until 2026 by the Civil Aviation Authority.
The regulator said the reduction in charges reflected the recent rebound in passenger numbers, though it would still allow the airport to invest.
But Heathrow, which wanted the charges raised, said the move would undermine the delivery of key improvements.
The BBC says the charges are paid by airlines, but can then be passed onto passengers via airfares.
The fees go towards operating terminals, runways, baggage systems and security.
At the moment, the average charge per passenger at Heathrow is £30.19, and the CAA has said this will fall to £26.31 by 2026. However, Heathrow wanted to increase it to £41.95.