Morrisons and Amazon say they will expand their same-day delivery service for groceries to Glasgow, Newcastle, Liverpool, Sheffield and Portsmouth. Morrisons agreed to supply Amazon with groceries in 2016 and the service now includes delivery within the hour for some customers. (The BBC, The Financial Times £)

Lidl is to launch its first store in central London as it opens 40 new shops across the capital in the next five years (The Guardian). Lidl is mounting a £500m assault on London with plans for 40 new shops including its most central outpost yet, not far from Oxford Street (The Telegraph). Lidl plans to invest £500m ramping up its presence in London, opening 40 new stores over the next five years in a region where it has traditionally found it difficult to expand (The Financial Times £). Forty new Lidl stores will be opened in London as part of a £500 million investment in the capital by the German discounter (The Times £). Lidl is set to open its first central London store on Tottenham Court Road as part of a £500m expansion (Sky News). Discount supermarket chain Lidl plans to open 40 new stores in the south-east of England (The BBC).

Reckitt Benckiser has poached a top executive from PepsiCo to serve as its chief executive, passing over internal candidates in favour of a consumer industry veteran with a strong record of rekindling growth in both mature and emerging markets (The Financial Times £). For the first time since its formation two decades ago, Reckitt Benckiser has turned to an outsider for the top job (The Times £). Reckitt Benckiser has turned to Pepsi’s chief commercial officer to succeed outgoing chief executive Rakesh Kapoor (The Telegraph). The new boss of consumer goods giant Reckitt Benckiser could receive a pay package worth more than £16.6m (The Daily Mail).

Last year, PepsiCo’s UK marketeers brought back “The Pepsi Challenge”. Rather like those tasters of his cola, Mr Narasimhan faces a sticky and very public challenge: how to follow Rakesh Kapoor at the consumer goods group at a time when its margins — and share price — appear to have peaked. (The Financial Times £)

A changing of the guard provides the perfect opportunity to demonstrate that investor concerns are being taken seriously, writes The Telegraph.

The questions are stacking up, not least over the sustainability of its 26.7% operating margins in this Amazon age, its digital clout and whether it’s investing enough in capex. And then there’s the big issue retiring boss Rakesh Kapoor has left hanging, now he’s split healthcare brands from hygiene and home products. Should it herald the break-up of the £47bn group? (The Times £)

The new chief executive of British American Tobacco plans to reduce the number of brands in its e-cigarettes and heat-not-burn tobacco business amid concerns that the growth of new products is running out of puff (The Times £). Shares in British American Tobacco slid on Wednesday as the producer of Dunhill and Lucky Strike reported it had lost cigarette market share for the first time in years alongside disappointing sales growth in its alternative cigarette products (The Financial Times £).

The FT advises investors to be cautious about the prospects for tobacco stocks in China. “Tough anti-smoking laws have already been passed in some big cities. With a third of young Chinese men predicted to die from smoking, the government cannot ignore the coming crisis. Investors should heed the health warnings too.” (The Financial Times £)

Shares in Majestic Wine jumped after a report that the US hedge fund Elliott Advisors has put in a bid to buy the British retailer’s 200 stores. (The Guardian)

The CVA rumour mill has alighted on Pizza Express. In recent days, sources have suggested that the casual dining chain may be considering closing loss-making sites via a company voluntary arrangement. Sources close to the company say that it is categorically untrue. (The Times £)

Casino has sold off its stake in Brazilian electrical goods retailer Via Varejo, the latest push from the French supermarket group to shore up its balance sheet after its parent companies filed for bankruptcy protection. (The Financial Times £)

The British-grown flower industry is now worth £121m – up from £82m in 2015 – following years of decline owing to imported stems. (The Guardian)

John Lewis moves into construction industry to offer customers home extensions, kitchens and bathrooms following its purchase of building firm Opun. (The Daily Mail)

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