The John Lewis Partnership has raised £260 million to help fund its turnaround as the struggling mutual prepares to cut as many as 11,000 jobs (The Times £). The owner of John Lewis and Waitrose is understood to be consulting on plans to cut 11,000 jobs as part of a major turnaround (Telegraph £). The owner of John Lewis and Waitrose is considering cutting up to 11,000 staff jobs in the next five years, after the retail group slashed redundancy terms this week (The Guardian). John Lewis has confirmed it is planning to further cut its workforce over the next five years (BBC).

Food industry bodies in Europe and the UK are warning of impending supply chain disruption as Britain introduces new border bureaucracy on EU food and drink and imports for the first time since Brexit (Financial Times £). New Brexit border controls will leave British consumers and businesses facing more than £500m in increased costs and possible delays - as well as shortages of food and fresh flowers imported from the European Union (Sky News).

Disposable vapes are to be banned in the UK as part of a drive to protect children’s health, as Prime Minister Rishi Sunak warned that youth vaping could become “endemic” (Financial Times £). Disposable vapes are set to be banned as part of plans to tackle the rising number of young people taking up vaping, the government says (BBC).

About 60 marketing and sales staff are set to be made redundant at THG, on top of about 100 warehouse roles elsewhere in the retail group. (The Times £)

Fujitsu, the Japanese IT giant at the centre of the Post Office Horizon scandal, is planning to introduce artificial intelligence face-scanning systems into Britain’s supermarkets to automatically check shoppers’ ages. (Telegraph £)

EY has quit as auditor to Asda amid allegations that one of its senior partners starting a romantic relationship with billionaire chief executive Mohsin Issa. (Telegraph £)

Rising sales in stores in airports, railway stations and hospitals have fuelled WH Smith’s ambitions to open 110 shops in this financial year. (The Times £)

Diageo was the toast of the stock market on Friday after Rémy Cointreau, its French rival, reported a smaller drop in third-quarter sales than many had expected and issued a reassuring update about progress in key markets. (The Times £)

According to alcohol industry experts British consumers are increasingly choosing to enjoy their beverages in smaller portions, but of higher quality – fuelling a trend for 100ml taster bottles. (The Guardian)

“Put Unilever in your basket”, advises The Times. “The board now has fresh confidence: Schumacher and other executives connected to management have bought more than £1 million worth of shares in recent months… The maker of Marmite might inspire a love-it-or-hate-it sentiment in the City, but Unilever looks ripe for an investment comeback.” (The Times £)

The FT’s sister publication Investors’ Chronicle advises people to buy Premier Foods shares. “A valuation of 10 times forward consensus earnings, while above the five-year average of eight times, isn’t overly demanding.” (Financial Times £)

The shoplifting epidemic has been largely put down to organised gangs - but some retail bosses are also blaming middle-class customers for fuelling the wave of store thefts. (Daily Mail)

One of Britain’s biggest brewer and pub companies is under pressure to make slavery reparations to the Caribbean nation of St Kitts and Nevis. (The Times £)

Maison Ferrand, which markets itself as one of the world’s premier boutique producers of fine spirits, has changed the name of its Plantation rum to Planteray rum after concerns were raised that its name was associated with slavery. (The Guardian)

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