Tesco’s chief executive said there were “encouraging” signs that inflationary pressures on Britain’s biggest supermarket chain were easing as the group reported an 8% rise in quarterly sales largely driven by higher prices (Financial Times £). The chief executive of Tesco has said food inflation has probably peaked but that prices are likely to stay high (The Guardian). Tesco’s boss has said there are “encouraging early signs” that price rises are easing as the retail giant reported higher sales (BBC)

Tesco’s boss has reported “encouraging early signs” that grocery inflation is starting to ease and taken a swipe at the Bank of England as the food industry faces claims of profiteering. (Sky News)

Britain’s biggest supermarket chain claims to be benefiting from shoppers switching from upmarket rivals including Waitrose and Marks & Spencer amid surging food prices (The Times £). Tesco is luring customers away from rivals Waitrose and Marks & Spencer as shoppers look for cheaper alternatives (Daily Mail).

Tesco has been forced to defend its roll-out of self-checkouts after a backlash from some customers after it stripped out swathes of manned checkouts citing lack of customer demand. (Telegraph £)

The government is to delay its planned ban on two-for-one junk food deals – a key anti-obesity measure – for another two years amid the cost of living crisis. (The Guardian)

A robotics start-up in which the online grocer Ocado is a sizeable shareholder is this weekend on the brink of collapse. Karakuri, which developed technology capable of assembling ready-meals for food industry clients, is on the brink of filing a notice of intention to appoint administrators. (Sky News)

Unsecured creditors to McColl’s are still owed about £45m after the collapse of the British convenience store chain, new documents have shown. (The Times £)

Landlords to the struggling discount chain Wilko are facing the prospect of receiving no rent for three years as battle lines are drawn ahead of a crucial restructuring vote. (The Times £)

The architect of John Lewis’s much-vaunted push into rental housing has resigned in a fresh blow for the troubled retail group and its embattled boss Dame Sharon White. (The Times £)

AI robots will never take over in our business, says John Lewis boss Sharon White. “Robots will never trump the creativity of our chefs conjuring up new food combinations where taste, smell and touch are so critical to experiencing our food or the creativity of our John Lewis designers.” (Daily Mail)

First shrinkflation, now drinkflation as beers get weaker as brewers scramble to cut costs. Lower alcohol content allows producers to save marginal amounts of tax on each can. (Telegraph £)

A growing list of companies are increasing profits and passing on costs by shrinking their products, meaning customers pay the same amount for less. Two-thirds of shoppers in the UK have noticed products shrinking in size, while prices either remained the same or even increased. (The Guardian)

The boss of the McDonald’s UK division has become the latest business leader to air his gripes about the nation’s planning system (The Times £). McDonald’s’ British expansion plans are being scuppered by bureaucracy and planning red tape, the boss of the fast food chain has said (Telegraph £).

Ex-Tesco boss says he has been ‘propelled under the nearest bus’ after being accused of misconduct In his first broadcast interview since the controversy erupted, former Tesco chairman John Allan, said there is “absolutely no substance” to the claims about his behaviour. (Sky News)

Heineken at the frontier of human cognition, writes The FT. The brewer will begin publishing data that will show how people’s association of the beer-maker with “sense of purpose” fluctuates over time, age-groups and across different regions (Financial Times £).

Ice-cream parlours are usually associated with a trip to the seaside but they are coming to a high street near you as a mixture of nostalgia and convenience puts sundaes and posh gelato on the menu all year round. (The Guardian)

Supermarkets are ‘lazy’ for copying M&S brands, says Percy Pig mastermind. Creator of the sweet defends Marks & Spencer’s aggressive stance against rival version. (Telegraph £)

Rising temperatures and consumers wanting more locally sourced food and drink have been a driving force for wine production in England, where more than 900 vineyards produced an estimated 12 million bottles in the past year. (The Times £)

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