The supermarket is scrapping the deputy manager role at its Express outlets across the UK. It will replace the lost jobs with 3,300 lower-ranking shift manager positions – which are worse-paid roles with less responsibility (The Daily Mail). The move is designed bolster customer service through 1,500 net new jobs across the 1,800 shop network. The changes, Tesco said, followed a successful trial as part of its group transformation programme and were not aimed at cutting costs. (Sky News)

Associated British Foods has said it expects a “substantial” increase in sugar profits this year compared with last, but reiterated that earnings at Primark — the clothes retailer that is its main profits motor — would come under pressure from the weak pound. (The Financial Times £)

ABF said that it was particularly heartened by its trading at Primark, where British shoppers have continued to splash out despite official data recording a drop in consumer spending (The Times £). John Bason, ABF finance boss, said that the group had not seen any evidence of shoppers reining in their spending following the EU referendum vote in June (The Telegraph). Primark has joined luxury brands such as Burberry in enjoying a boost in sales from tourists drawn by the cheap pound (The Guardian). Cut-price beauty products have helped Primark woo shoppers (The Daily Mail)

Bosses of Britain’s fastest-growing discount chain have funnelled more than £150m through tax havens in Luxembourg and the Cayman Islands. B&M, which has more than 500 outposts around the country and boasts former Tesco boss Sir Terry Leahy as chairman, has paid £152.6m in dividends in the past three years into a holding company in Luxembourg, despite having no shops in the country or employing any workers there. (The Daily Mail)

Consumers are increasingly worried about their personal finances as food and fuel prices rise, according to a survey. A bounce in households’ optimism about their financial outlook in January evaporated in February, pulling the closely watched GFK consumer confidence barometer down by one point to -6. (The Times £)

Sales of Fairtrade goods have risen for the first time since 2013 as the increasing popularity of bananas and coffee sold under the ethical label offset falling sales of cocoa and sugar. (The Guardian)

Asda is to be the first major UK retailer to sell “free range” milk – from cows that have been kept outside for at least six months of the year – after consumers said they wanted to be able to buy tasty milk that gives a better deal to farmers. (The Guardian)

More firms are expected to announce bottle deposit return services after Coca-Cola unexpectedly came out in favour of the idea. Pepsi, Nestlé, Unilever and M&S have already committed to producing more eco-friendly bottles by using plant-based materials or less plastic, and an uptick in that trend could now be on the cards. (The Guardian)

It may have more than 25,000 outlets in 75 countries but Starbucks has for many years failed to achieve one of its ultimate goals: to open a café in Italy, the home of coffee. Until now that is. The US coffee chain has struck a deal to open a Starbucks Roastery, its “ultimate premium” coffee format, on the Piazza Cordusio in Milan within walking distance of the Duomo. (The Times £)

The price of brazil nuts could rise by more than a fifth after low rainfall hit production in Bolivia where more than half the global crop is grown. (The Guardian)

Flaws in business rates are discouraging investment, writes The Telegraph.

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