A Thai company is set to take control of Selfridges in a debt-for-equity swap that dilutes the stake of its struggling co-owner (The Times £). A Thai retailer has seized control of Selfridges after a key shareholder in the luxury department store was hit by a cash crunch (Telegraph, Daily Mail). Thailand’s largest department store owner, Central Group, has announced it has taken control of Selfridges department stores (The Guardian). Thai investor Central Group is set to take control of the company behind London’s upmarket department store Selfridges, amid a financial crisis at its Austrian co-owner Signa (Financial Times £).

Asda has paid off £300m worth of debts as its billionaire owners race to slash borrowing levels across their business empire (Telegraph £). The country’s third largest supermarket said it had repaid the loan facility that it borrowed to buy Co-op’s petrol forecourts business last year (Daily Mail).

Brazilian cosmetics company Natura has agreed to sell The Body Shop to private equity firm Aurelius, after struggling to revive the UK retailer’s fortunes (Financial Times £). The Body Shop has been sold in a cut-price deal that values it around £660m less than it changed hands for just six years ago (Telegraph £, Daily Mail). Once-pioneering British ethical beauty brand The Body Shop has been sold for £207m (BBC).

The Body Shop’s 1970s brand needs millennial makeover, writes The FT’s Lex column. “The Body Shop’s concept of “retailing with a conscience” was revolutionary in the 1970s. Competitors have since caught up. These days, everyone is selling natural beauty products in sustainable packaging. The chain has struggled to adapt to the digital age.” (Financial Times £)

Union leaders have accused Morrisons of “fleecing” its workers as it plans to cut its employer pension contributions for tens of thousands of staff. (The Times £)

McDonald’s has dismissed 18 UK employees after establishing a specialist unit over the summer to handle staff complaints about allegations of sexual assault, harassment and bullying, its UK chief executive has told MPs (Financial Times £). McDonald’s has sacked 18 workers after claims of sexual abuse, racism and bullying, its UK boss has said (Sky News).

McDonald’s UK boss has admitted the fast-food chain is receiving between one or two sexual harassment claims a week following a BBC investigation. (BBC)

The UK boss of McDonald’s has told MPs that widespread cases of sexual harassment and bullying of workers at its fast food shops are “truly horrific” and that the chain was receiving one to two complaints a week about sexual harassment (The Guardian).

McDonald’s has been accused of fostering a culture of “drugs, homophobia, racism and sexism” by a group of whistleblowers who have worked at the fast food chain. (Telegraph £)

Supermarket chain Iceland has said it will not roll out a Christmas advert this year and will instead spend the money supporting its customers. (BBC)

The World Health Organisation’s call for government action over “exploitative” formula milk prices “cannot be ignored”, an MP has said. (Sky News)

Imperial Brands’ sales flatlined in the first half as the cigarette manufacturer behind brands including Gauloises and Rizla saw price growth offset a volume decline. (Daily Mail)

The Telegraph’s Questor shares column advises readers to stick with Haleon shares. “Its diverse and enviable stable of brands has allowed it to raise prices during the current period of heightened inflation and it benefits from a sound growth strategy, a solid financial position and the prospect of better operating conditions as the global economy’s performance gathers pace.” (Telegraph £)

Continuing to follow-up The Grocer’s story on Booths withdrawing its self-checkout machines, The Guardian’s Coco Khan writes: “Booths is the first supermarket to go this way, swimming against the tide of self-service tills that have now embedded themselves on the high street. So could these machines soon be relegated to history? It is too early to say. But as someone who has held self-service checkouts in contempt for a long time, I would happily be the one to pull the plug.” (The Guardian)

‘They rile me’: views on the pros and cons of UK supermarket self-checkouts. As Booths returns to fully-staffed tills at many of its stores, shoppers with varying opinions have their say. (The Guardian)

Eight years ago, a group of young Danish entrepreneurs, dismayed by the volume of leftovers at the city’s many buffet eateries, came up with the idea of connecting food businesses with eco-minded, budget-conscious consumers. The start-up they founded, Too Good To Go, is now one of the biggest players in the surplus food market. With a presence in 17 countries, 80mn registered users, and an established base in Europe, it now has its sights set on conquering the US. (Financial Times £)

Australian children are being exposed to aggressive marketing of foods that are rated too unhealthy for young people in many other countries, new research has shown. (The Guardian)

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