Here are the stories making the business headlines both locally and nationally this morning.
Waldorf enters agreement to buy Alpha Petroleum
Waldorf Production has struck an undisclosed deal to takeover North Sea oil and gas firm Alpha Petroleum Resources.
The binding sale and purchase agreement with a wholly owned subsidiary of private equity firm Shorelight Partners includes a 100% working interest in the Cheviot field, east of Shetland.
Surrey-based Alpha Petroleum’s assets also include an operated interest in Helvellyn, Tors and Wenlock, three late life gas fields in the Southern North Sea. Energy Voice says Cheviot is one of the largest undeveloped fields in the UK North Sea, with estimated contingent resources of 55 million barrels (MMbbls) of oil and 120 billion cubic feet (BCF) of gas.
Sunak pledges to model himself Thatcher in leadership bid
Rishi Sunak has vowed to run the economy like Margaret Thatcher if he becomes the next prime minister, telling Tory leadership rivals: “You have to earn what you spend.”
Speaking to The Telegraph in his first campaign interview, the former chancellor likened Baroness Thatcher’s upbringing above her father’s grocery shop to his childhood helping in his mother’s pharmacy.
“We will cut taxes and we will do it responsibly,” he said. That’s my economic approach. I would describe it as common sense Thatcherism. I believe that’s what she would have done.”
Last night, the field of candidates dropped to eight after Priti Patel, the Home Secretary, Grant Shapps, the Transport Secretary, Sajid Javid, the former health secretary, and Rehman Chishti, the Foreign Office minister, ruled themselves out.
Recycling centre fire sees Aberdeen waste sent to Hartlepool
Waste is having to be taken almost 300 miles from Aberdeen to Hartlepool due to a major fire at a recycling plant.
More than 100 firefighters were involved in tackling the blaze at the Suez plant in Aberdeen's Altens area over the weekend.
Suez Recycling and Recovery has now told BBC Scotland that recycling is being taken to the nearest appropriate facility, about 280 miles (450km) away. It will be collected, collated, and transported to County Durham by lorry.
Heathrow tells airlines to stop selling summer tickets
Heathrow Airport has told airlines to stop selling summer tickets, as the UK's biggest airport struggles to cope with the rebound in air travel.
The airport is limiting the number of passengers who can depart each day over the peak summer months to 100,000, 4,000 fewer than currently scheduled.
The BBC reports that the cap on passenger numbers will be in place from now until 11 September.
Thousands of UK travellers have been affected by disruption in recent weeks, including last-minute cancellations.
Rail workers offered 5% pay rise and cheap tickets
Rail workers are being offered a 5% pay rise, heavily discounted train travel for family members and cash bonuses of up to £900 each in a scramble to prevent further strikes.
State-owned Network Rail has tabled a new pay deal for its 20,000 members that is likely to be seized on by teachers, nurses and other public sector workers to demand wage increases of their own.
The Telegraph says the deal also includes a guarantee from Network Rail that no compulsory redundancies will be made over the next two years.
Twitter sues Elon Musk over $44bn takeover deal
Twitter has taken billionaire Elon Musk to court to try to force him to buy the social media firm, setting up a legal battle with the world's richest man.
It comes after Mr Musk announced he was walking away from his proposed $44bn (£37bn) takeover of Twitter on Friday.
He claimed Twitter had not given information about the number of fake and spam accounts on the platform.
Now Twitter has asked a Delaware court to order Mr Musk to complete the merger at the agreed $54.20 per Twitter share.