US regulators have banned Imperial Brands’ myblu vaping device after a review found there was a lack of evidence they would protect public health, in a blow for the tobacco industry’s transition from cigarettes. (The Times £)

Deliveroo’s stock market slide continued as even a robust trading update could not prevent the shares falling just short of a new low (The Times £). Deliveroo has warned that consumer spending could slow for the rest of the year amid the surging cost of living (The Daily Mail).

Lockdown winners Deliveroo and Asos lose their shine as virus restrictions end and shoppers return to the High Street. (The Daily Mail)

The National Lottery’s next operator has admitted sanctions associated with the Russian invasion of Ukraine could affect the business. (The Daily Mail)

Shoppers raced to stockpile tinned tomatoes, pasta, tea, coffee and paracetamol last month amid fears that the Russian invasion of Ukraine could spark a war across Europe. (The Telegraph)

Stores across the US have started to ration baby formula while some others are reporting increasing shortages. The nationwide shortage in baby formula comes two months after a huge manufacturer recall which occurred as a result of illnesses and deaths among infants. (The Guardian)

Workers have experienced a sharp drop in real wages as take-home pay failed to keep up with the highest inflation in 30 years. (The Times £)

Prices in the US are rising at their fastest rate in more than 40 years as the cost-of-living crisis bites (The Daily Mail). The surge in the year to March was fuelled by growing costs for food, fuel, housing and other necessities that have outstripped the pay rises that many Americans have received (Sky News).

A chain of cocktail bars across the north of England, Arc Inspirations, has secured backing from BGF in a deal valuing the business at up to £60m. (The Times £)

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