Fever-Tree is teaming up with one of the leading makers of French rosé wine as it seeks to grab a slice of the lucrative spritz market from Aperol. (The Times £)
Rami Baitiéh admits that six months after taking over the supermarket chain he is demanding of his staff, but his high-performance culture seems to be taking effect. Positive momentum has started to build within the company and employees are motivated by the early green shoots. (The Times £)
Business leaders have called for a flagship scheme to get young people into work to be overhauled as the system is a ‘complete waste of money’. Household names including John Lewis, Tesco and Marks & Spencer say rules around the apprenticeship levy limit them from using the funding pot, even though they pay in millions of pounds. (Daily Mail)
Yoghurt no longer satiates General Mills’ hunger for growth. The Minneapolis-based packaged foods giant — whose brands include Cheerios and Wheaties — is reportedly looking to sell its North American yoghurt business in a deal that could be worth more than $2bn. (Financial Times £)
Shoppers angered by discovering imported asparagus on supermarket shelves during the short British season for the vegetable are expected to receive a fillip after a sudden burst of sunshine helped the domestic crop. (The Guardian)
Alex Brummer in the Mail writes on Reckitt Benckiser’s share price underperformance: “There are lessons to be learned from Reckitt’s downfall. Transforming mergers rarely deliver the growth and dividends that the protagonists promise. A more politically aware Reckitt board should have recognised that involvement in baby formula would be fraught and carry enormous litigation risks. The price is now being paid.” (Daily Mail)
JAB Holding, the biggest investor in Krispy Kreme, Pret A Manger and Coty, is overhauling its investment strategy to start an insurance business in a dramatic pivot for the consumer and food empire whose portfolio has struggled in recent years. (Financial Times £)
The problems farmers face are complex. They blame the government for pushing them out of business, pointing to the lack of affordable labour after Brexit; the need to tackle climate change - with agriculture accounting for 10% of the UK’s total greenhouse gas emissions - leading to new regulations, and the growing realisation that for most people buying British is a luxury they can’t afford. (Sky News)
An artisan pizza chain visited by Boris Johnson and Rishi Sunak during the pandemic has reported record results and plans to expand into Scotland and Wales. (The Times £)
How crops are being disaster-proofed – while disease resistance might come down to a single gene, making resistance to stressors like drought or salinity, can involve working with hundreds of genes. (BBC)
Writing on pubs in the FT, John Gapper comments: “One would need to be intoxicated to believe that a cyclical recovery, accelerated by warmer weather and the prospect of drinkers crowding into pubs to watch the Euro 2024 football tournament starting in June, amounts to a reversal of history… But it reinforces something proved over the centuries: pubs are adaptable.” (Financial Times £)
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