Aldi is poised to join the ranks of the Big Four supermarkets, eclipsing Morrisons, as cost-conscious customers were drawn to its cheaper product lines. (The Daily Mail)

Shoppers saw food prices rocket by 11.6% over the past month - the fastest rate since at least 2008 - adding the equivalent of £533 to the average annual grocery bill, industry data shows. (Sky News)

Iceland will offer customers interest-free loans to help with their food shop amid soaring inflation. The supermarket trialled the scheme in Huddersfield and Rhyl, Denbighshire, before rolling it out across Wales, where more than 500 customers used it. (The BBC)

Annual profits at Walmart are set to decline by less than expected, despite the giant American retail group noting yesterday that cash-strapped shoppers are continuing to prioritise buying groceries and fuel over general merchandise. (The Times £)

Two of the biggest US retailers have eased concerns of a recession, reporting resilient consumer spending even though sharp food and fuel inflation are weighing heavily on their customers. Walmart, the world’s largest retailer, said it had seen glimmers of improvement in recent weeks despite its most price-sensitive shoppers trading down to cheaper groceries. Home Depot, the DIY chain, said spending on home improvement had been “incredibly high”. (The Financial Times £)

The FT writes: “Just three weeks ago, Walmart spooked the market with a massive profit warning. It now appears to be on steadier footing. That should reassure investors in Main Street USA as well as in the store chain. Walmart is a bellwether for US consumer demand.” (The Financial Times £)

Haleon leaves its investors with a splitting headache, writes The Times. Analysts at RBC, the Canadian investment bank, had been getting ready to tell their clients to buy Haleon shares, but decided against it yesterday, telling them to hold fire instead. While acknowledging that Haleon had “some exceptional brands”, such as Sensodyne, Voltarol and Centrum, upon closer inspection most of the brand portfolio was merely “adequate”. (The Times £)

UK hospitality businesses have lost nearly 200,000 international workers since the end of 2019, according to an industry survey, as the effects of Brexit and the coronavirus pandemic squeeze the jobs market. (The Financial Times £)

Corporate insolvencies rose by 7.5% last month compared with June and were 27% higher than they were three years ago, before the pandemic struck. (The Times £)

Workers at McDonald’s, the largest fast-food chain in the world, are highlighting sexual harassment and retaliation against workers at its stores, an issue they say persists despite claims of reforms and changes by McDonald’s in recent years. (The Guardian)

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