Corona beer maker Constellation Brands doubled down on its bet on the budding marijuana industry, pumping just under $4bn into a Canadian group that has sought to capitalise on the spreading legalisation of weed (The Financial Times £). Corona beer owner Constellation Brands is set to pour some $4bn (£3.15bn) into Canada’s top cannabis producer, Canopy Growth, in a deal marking the largest investment in the industry to date (The BBC). The American drinks group behind Corona beer, Svedka vodka and Robert Mondavi wine is developing a taste for cannabis (The Times £).

Bears were having a picnic yesterday after concerns about a FTSE 250 sandwich maker’s US strategy and sales in Britain raised the interest of short-sellers. About 10 per cent of Greencore Group’s shares are now on loan after a new position was taken. (The Times £)

PwC should have raised the alarm over BHS’s ability to keep trading before the stricken retailer was sold to a serial bankrupt for £1, according to the accountancy watchdog (The Telegraph). BHS’s accounts were misleading and featured unrealistic forecasts before Sir Philip Green sold the now collapsed department store chain, according to a report into the role of the retailer’s auditor, PwC. (The Guardian). The senior auditor overseeing BHS before it went bust bragged of his relationship with Sir Philip Green while failing to flag up major risks in the firm’s accounts, a damning report has found (The Daily Mail).

Britain’s accounting watchdog caved to political pressure to publish a more extensive report on its investigation into PwC’s audit of collapsed retailer BHS, saying its significant consulting work risked compromising its independence (The Financial Times £). A Big Four accountancy firm failed to challenge “very optimistic” management assumptions about the future of BHS in an audit months before Sir Philip Green sold the department store chain for £1 (The Times £).

The prospect of costlier Kleenex tissues, Huggies nappies and Cottonelle toilet paper is giving Wall Street a reason to stock up on Kimberly-Clark shares on Wednesday. (The Financial Times £)

The pound has endured its longest losing streak against the dollar since the financial crisis a decade ago because of mounting fears that the UK will crash out of the European Union in March and amid signs that the economy is struggling to gather momentum (The Times £). Pound falls to fresh 14-month low against dollar as sterling - already weakened amid political turmoil over fears of a Brexit “no deal” - slides and recovers in early morning trade (Sky News).

US retail sales picked up in July from a month ago, underlining the strength of consumer confidence and spending in light of solid economic growth and low unemployment. (The Financial Times £)

Has millennials’ social justice killed mayonnaise, asks The Guardian? Millennials’ mayo aversion apparently has some Americans concerned over changing demographics. (The Guardian)

The new head of Ben & Jerry’s, the ice-cream maker known for its social advocacy, established his credentials in the food industry after overseeing the switch of Hellmann’s mayonnaise to using 100 per cent cage-free eggs. (The Times £)

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