City snapshot: M&S to slow food openings as profits squeezed by rising inflation

Profits crashed 18% at Marks & Spencer in the first half as its food margins were squeezed more than expected as the retailer absorbed inflation to remain competitive in the challenging grocery market. Plus, trading updates from Hilton Food Group and Kerry Group; third quarter results at Raisio and Ahold Delhaize; and C&C interim CFO given role on permanent basis