Here are the business stories making the headlines locally and across the country this morning.
Ford warns net zero targets will push up petrol car prices
A top executive at Ford has warned net zero targets could force the car giant to cut back sales of petrol cars in the UK, pushing up prices for drivers.
Martin Sander, general manager of the company’s European electric car business, called on ministers to make sure the zero emissions vehicle (ZEV) mandate was “in line with consumer demand” amid new figures showing that uptake is lagging behind sales targets enshrined in law.
In order to comply with the rules, he warned that Ford may have to simply sell fewer petrol cars in the UK so that the proportion of electric vehicles (EVs) it sells rises artificially.
Speaking at the Financial Times Future of the car summit, he said: “It’s really important for politicians to monitor what is going on and that the ZEV targets, this year, next year, going forward, are roughly in line with consumer demand.
Switch to New York listing ‘not on the agenda’, says BP chief
The boss of BP has said that switching the energy giant’s listing from London to New York is “not on the agenda”, despite the FTSE 100 group’s valuation trailing that of American peers.
Murray Auchincloss insisted that London was still the right home for BP, in response to speculation that the oil and gas group could join the exodus of companies leaving the UK for the US.
“It’s not on our agenda at all, we’re just focused on performance,” Auchincloss said.
Closing the valuation gap with US-listed peers was “relatively straightforward”, he said, requiring the company to deliver a “safe performance, quarter in, quarter out”, grow cashflows at an underlying rate of 3 to 4 per cent, buy back shares and increase the dividend over time.
Social media firms told algorithms must not recommend harmful content to children
Social media platforms must do more to stop their algorithms from recommending harmful content to children, Ofcom has said.
The regulator has published its draft children's safety codes of practice laying out the new standards it will expect tech giants to follow to protect children under the Online Safety Act.
But two mothers who believe their children died as a result of copying dangerous social media challenges say they feel "belittled" by Ofcom over its failure to listen to grieving parents.
Sky News has spoken to the mothers of Archie Battersbee, who died aged 12 after a "prank or experiment" went wrong at their home and Isaac Kenevan, 13, who is believed to have died after taking part in a choke challenge on social media.
Cafe 52 told to knock down outdoor seating area to clear road for Aberdeen market construction
An Aberdeen restaurateur could be forced to knock down his outdoor trading area – or watch the council do it for him to clear the road for the new market.
Cafe 52 owner Steve Bothwell fought to win planning permission for his glazed pavilion and shepherd’s hut on The Green.
His battle took him to Holyrood, as the Scottish Government stepped in to make permanent the temporary approval Aberdeen City Council had given him.
But now the proprietor claims the local authority is ordering its demolition anyway.