People in the UK “tapped to pay” in more than 726m contactless transactions in August, an increase of nearly 14% on the same month a year earlier, underlining the continued boom in cashless payments (The Financial Times £). The number of contactless card payments has soared in the last 12 months, fuelling fears that Britain is ‘sleepwalking’ towards a cashless society (The Daily Mail).
Australia is among a number of countries seeking compensation from Britain and the EU over Brexit disruption amid losses in what is a £193m annual agricultural export trade with the European Union and Britain (Sky News). Countries including Australia have asked for trade compensation from the UK and the EU over Brexit disruption. Fifteen countries, including the US, India and New Zealand, have been setting out Brexit concerns at a World Trade Organization meeting in Geneva. (The BBC)
The Chinese owners of Pizza Express are refusing to engage with a group of lenders vying to rescue the ailing restaurant chain. (The Telegraph)
Businesses have called for a major overhaul of the rates system and said Tory pledges to improve it do not go far enough. (The Telegraph)
Political parties have been warned to be careful about setting higher minimum wage levels. The Institute For Fiscal Studies says there may be scope for increases but these should be considered thoroughly, as the risks “may be quite severe”. (Sky News)
The Times (£) interviews Lidl’s UK CEO Christian Härtnagel — who vows the German discounter will never be beaten on price as the discounting battle intensifies. (The Times £)
Sky News looks at the difference in attitudes towards vaping in the US, where bans on products are being drawn up, and the EU. “One is that e-cigarettes are more tightly regulated in Europe than in the US. Furthermore, there are also tight rules governing the manufacture of vaping products… Crucially, unlike the US, the directive also barred the use of THC and Vitamin E acetate oil in e-cigarettes and also placed a limit on the nicotine content of e-cigarettes.” (Sky News)
The chief executive of bakery chain Greggs – which sells thousands of meat pasties every week – is trying veganism after seeing a documentary about the health benefits. (The Guardian)
Monzo’s operations chief is to quit the digital bank to launch his own grocery start-up. Tom Foster-Carter, who became Monzo’s chief operating officer in August 2017, said he would leave to develop technology that will “help the incumbents” in the supermarket price war. (The Times £)
The former boss of Eddie Stobart Andrew Tinkler is drawing up plans for a £75m rescue package for the UK logistics group, which is at risk of collapse without new cash to support its operations (The Financial Times £). The former boss of Eddie Stobart is said to be working on a takeover bid for the struggling haulage company (The Times £).
Companies pin hopes on meat-free cash cows, writes The FT. Food businesses step up pursuit of alternative proteins to win over consumers, however, there will be winners and losers minted by this shift, and consumers may prove fickle especially once the novelty wears off. (The Financial Times £)
Menu innovations including jackfruit vegan pizza and black and white ravioli are helping the owner of the Zizzi and Ask Italian restaurant chains to ride the turbulence in the casual dining sector (The Times £). Azzurri Group, the company behind restaurant chains Zizzi and Ask Italian, has shelved plans for a sale amid concerns about the casual dining crunch that has triggered a wave of high street closures (The Telegraph).
An own-brand champagne from Waitrose has been named the best-value Christmas bubbly after experts said it tasted almost as good as the established brands Piper-Heidsieck and Veuve Clicquot. (The Guardian)
Fuller, Smith & Turner issued its first profit warning on Friday after suffering a nasty hangover from the sale of its brewing operation. (The Times £)
A European retail investor has agreed to buy the group behind Bensons for Beds and Harveys for an undisclosed sum. (The Times £)
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