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Energy prices for most households in Britain will rise by 80% from October, taking a typical bill to a record £3,549 year.
Here are the stories making the local and national business headlines this morning.
Goldman Sachs expects the UK economy will slip into recession later this year - and has warned that it could be a deep contraction amid soaring energy costs.
The UK's two largest trade unions, Unite and Unison, are seeking to co-ordinate strike action this autumn as they step up demands for better pay.
The average household will pay £37.41 more for food each month by December next year because of the impact of the drought on crops, according to the Centre for Economics and Business Research (CEBR).
Aberdeenshire farmers have been given a water warning as parts of the country reach 'significant scarcity' levels.
Boris Johnson will this week say Britain must not give up on investing in green energy in favour of short-term fixes for the cost of living crisis.