Tesco and Heinz have reached a revised supply agreement after a high-profile pricing dispute resulted in some of the ketchup maker’s products temporarily disappearing from the supermarket’s shelves (The Financial Times £). In a joint statement the Heinz and Tesco said they were “pleased to have reached an agreement that will see the full range of Heinz products return to Tesco shelves and online” (The Guardian).

Tesco declined to say whether those products would be going up in price due to the new agreement (The BBC). It is unclear if the deal will result in shoppers having to pay higher prices for Heinz products (Sky News).

Naked Wines could be at risk of breaching one of the covenants on a new lending facility, as repeat customer sales fall short of its own forecasts. (The Times £)

More than nine in ten adults noticed a rise in their cost of living in the past month and about half said that they had cut down on food as a result (The Times £). Some 49% of people surveyed by the Office for National Statistics said they had purchased less food than normal between 22 June and 3 July (Sky News). The price of food has continued to rise, with new data showing that every supermarket aisle has been hit by hikes, not just fruit and vegetables (The Guardian).

Big food brands are raising prices as much as five times faster than supermarket own-brand products, with the cost of some consumer staples up by 33% in the last year. (The Telegraph)

The long-awaited break-up of GSK a week today will reverse 20 years of stagnation at one of Britain’s biggest and oldest public companies, its chief executive has promised. (The Times £)

Will Unilever’s Jope take tips from Peltz, asks The Times? Friday’s Unilever event promises advice on how to “create a better business”. Peltz might have a few pointers. (The Times £)

Elliott Investment Management is building a stake in Swedish Match and is thought to be looking for Philip Morris International to raise its $16bn takeover for the tobacco company. (The Times £)

Growers are warning of a global chickpea shortage, endangering supplies of hummus, in a development that could have serious consequences for countries that rely on the pulses as an essential source of protein. (The Guardian)

Britain’s competition regulator has launched an in-depth study to examine concerns about soaring fuel prices. (Sky News)

Leading food scientists and a cross-party group of MPs and peers are urging UK ministers to ban the use of chemicals in bacon that heighten the risk of several forms of cancer. (The Guardian)

The Conservative Party risks choosing the “wrong” leader if it rushes the process, the chairman of M&S has warned, amid hopes of a reversal of Boris Johnson’s anti-business tax raids. (The Telegraph)

Supermarkets and retailers have been asked to end relationships with soya traders who allegedly continue to buy soya from suppliers contributing to deforestation in Brazil. (The Guardian)

Amazon is pinning its hopes on a strong Prime Day sales event this year as the $1tn ecommerce giant seeks to rejuvenate slowing sales growth at a time when consumers are cutting back on discretionary spending. (The Financial Times £)

A cask of rare Scotch whisky has sold for £16m to a private collector in Asia, smashing the previous world record of £1m which was set only a few months ago (The Financial Times £). It sold for more than twice the amount the distillery and its entire stock was bought for in 1997 (The Guardian).

Superdrug has paid out £35m in dividends to its Hong Kong owner Li Ka-shing. (The Telegraph)

JD Sports, the sportswear group reeling from last month’s ousting of its longstanding chair Peter Cowgill, has appointed former Wm Morrison chair Andy Higginson to lead its board (The Financial Times £). Higginson was chairman of the Morrisons supermarket chain until its takeover last year and spent nearly fifteen years in senior roles at Tesco (The Times £)

Tongues have been wagging about a takeover at The Hut Group for months, but even this speculation has been unable to lift the gloom surrounding the digital retailer. Nevertheless, THG’s new chair Charles Allen took advantage of the group’s low valuation to purchase nearly £1mn worth of shares. (The Financial Times £)

The Times looks at five times Marks & Spencer served up XXL pay deals. Investors choked on Steve Rowe’s final bonus last week, but M&S has a history of throwing cash at executives. (The Times £)

When economic armageddon unfolded in 2008, Domino’s Pizza was rolling in dough as well as rolling it out. Cost-conscious Britons looking for a little luxury would order a takeaway — but as we hunker down for another crisis, it looks unlikely to go so well this time for the franchise business. (The Times £)

Healthy kids’ food business Little Dish comes of age after 16 years – international growth remains an ambition for the medium term, but will probably begin nearer to home. (The Times £)

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