Morrisons is facing a near-£100 million surge in its borrowing costs as market turmoil heaps pressure on the highly leveraged supermarket chain. (The Times £)
Consumer goods giant Unilever is heading for a clash with rival Reckitt Benckiser in its hunt for a new boss after the chief executives of both firms announced their exit within weeks of one another. (The Daily Mail)
Unilever urged to seek outsider chief after Alan Jope tenure. Investors called for a new leader from outside the company and for a rapid review of Unilever’s vast portfolio of brands. The mixed performance from Jope has led to renewed questions about the culture at the more than 90-year-old maker of Dove soap, Hellmann’s mayonnaise and Magnum ice creams. (The Financial Times £)
Science in Sport, a company making protein shakes and energy gels used by some of the world’s leading athletes and sports teams has suggested that it will listen to takeover offers. (The Times £)
A Kent brewery that the government proclaimed as an export champion after Brexit, Old Dairy Brewery, is racing to find a buyer weeks after it revealed it had only one EU customer left. (The Times £)
The price of groceries could surge by £1.7bn due to the cost of carbon dioxide rising by as much as 3000%, new analysis has shown. (Sky News)
Restrictions on where shops in England can display junk food come into effect today. Products that are high in fat, salt and sugar can no longer be placed in prominent locations such as shop entrances and tills. (Sky News)
Citing figures in The Grocer, The Mail writes that Aldi is continuing to snatch market share from Tesco and other major supermarkets. The former Big Four supermarkets – Tesco, Sainsbury’s, Morrisons and Asda – have lost £170m of sales to the German discounter in just three months. (The Daily Mail)
The Daily Mail’s shares column writes that investors considering Finsbury Food Group must decide whether they believe in Baker and Duffy’s strategy and ability to get through hard times. If they do, there is much to be said for cutting a slice of the firm. At this level, and with sterling weak, they could be a tasty morsel for a private equity firm or overseas rival. (The Daily Mail)
Farming and environmental groups are demanding guarantees from the UK government that it will maintain a “level playing field” for food and animal welfare standards in future post-Brexit trade deals. (The Financial Times £)
Matt Moulding set the hares running with a stock exchange announcement that appeared to suggest the founder of THG had acquired shares in the ecommerce company worth £1.9m. (The Times £)
Suntory Holdings, the Japanese drinks group behind Jim Beam and Yamazaki, is looking to snap up high-end tequila and mescal brands to meet surging US demand for premium spirits at a time when lower-income consumers are drinking less. (The Financial Times £)
High tech greenhouses and vertical farms are pricey to build. For now they can only grow a limited array of crops — mainly leafy greens and herbs. To sustain investor appetite, companies will need to show they can sell enough salad to be viable. (The Financial Times £)
How Britain fell in love with the drive-thru - customers are increasingly opting to order their coffee, breakfast or dinner from the comfort of their cars, in a consumer shift that has caused an explosion in the number of drive-thru stores across the UK. For the big brands that operate them, the benefits are huge: British consumers spent £2.9bn in drive-thrus in the year to the end of August, £500m more than three years ago, before the start of the pandemic. (The Times £)
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