Tesco has drafted in City heavyweight Gerry Murphy as its next chair to replace John Allan, who stepped down this year amid misconduct allegations (The Financial Times £, The Times £, The Guardian, The BBC, The Telegraph £). Murphy already chairs luxury fashion house Burberry and sweetener maker Tate & Lyle (The Daily Mail).

The appointment was expected to be announced early this week, but was brought forward to the weekend as a result of its disclosure by Sky News. (Sky News)

It was once a highlight in the annual calendar of Britain’s small shareholders but Marks & Spencer now faces a backlash after making its annual general meeting an entirely digital event (The Times £). Marks & Spencer is at the centre of a row this weekend after telling its shareholders they should not attend its annual meeting because it has gone digital (The Daily Mail).

The City expects Sainsbury’s first quarter grocery sales to be up 9% and general merchandise, Argos and Tu included, up 3% for the first quarter. The tone of its update will probably be cautiously positive, without upgrades at this early stage to its forecast underlying pre-tax profits. (The Times £)

Motorists are to be told where they can buy the cheapest petrol under Government plans to crackdown on service station profiteering. (The Telegraph £)

A manufacturer of sustainable packaging backed by Diageo, the global spirits giant, will this week unveil a new round of funding to enable the delivery of a commercially scalable production line. (Sky News)

Enjoying a drink in the summer sun may soon become more costly, as brewers and winemakers warn changes to alcohol taxation will increase the price of bottled beers, spirits and wines. (Sky News)

New Zealand has become the world’s first country to expand its ban on plastic bags in supermarkets to thin bags, which are typically used to hold fruits or vegetables. (The BBC)

Families are being offered money off children’s clothes in Marks & Spencer if they donate school uniform hand-me-downs, as part of a push designed to help parents struggling to afford them amid the cost of living crisis. (The Guardian)

Dry January looks set to be replaced by Dry June after sales of non and low alcoholic drinks surged in the summer month. (The Telegraph £)

A restaurateur who has seen 371 price changes for ingredients in the past four weeks said that coping with continued high food inflation was “harder than dealing with Covid”. (The Times £)

The amount that most UK farmers are paid for milk has plunged below their production costs, exacerbating concerns over the viability of small dairy farms. (The Financial Times £)

An iced coffee is a cool pick-me-up on a hot day, but it might not be the caffeine boosting your mood as many of the blends sold by well-known high street coffee chains contain more sugar than a Mars bar or can of Coke. (The Guardian)

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