The Government has defended the national living wage as a survey of businesses finds damaging effects on workers. The British Chambers of Commerce said a third of the 1,600 firms it questioned reported increases to their wage bills since the legislation took effect earlier this year. The survey showed that of the 34% of the businesses paying higher wages, a quarter of them had already slashed recruitment. (Sky News)

Jamie Oliver’s business empire is back in health after strong trading at its restaurant chain and TV production division. This is after he recorded a loss last year as new chief executive Paul Hunt, who is Oliver’s brother-in-law, launched a strategic review of the business and decided to close the Recipease cookery schools (The Daily Mail). Jamie Oliver dished up revenues of £158 million last year, up almost 2 per cent, as the television chef sold 1.7 million cookbooks and opened new Jamie’s Italian restaurants around the world. (The Times £)

British Airways economy class passengers on short-haul flights will soon have to pay for sandwiches supplied by Marks & Spencer if they want a meal in mid-air. The airline has signed a deal with M&S that will see it replace free meals on flights of less than five hours and charge for sandwiches, crisps and drinks (The Guardian). They will be offered items including crisps for £1, a cheddar ploughman’s sandwich for £3, or a spiced chicken with quinoa and rice salad for £4.95. (Sky News)

PepsiCo beat earnings expectations in its third quarter and raised its guidance for the full year as it benefited from demand for its Naked Juice and Sabra hummus brands at home. (The Financial Times £)

The British winemaker Chapel Down has seen sales rise by more than 25% in the first half of the year, as people continue to show enthusiasm for English wine and craft beer (The Guardian). British women are turning from wine to posh beer, writes The Daily Mail. Frazer Thompson, chief executive of the Kent winery, said increased interest in craft beers, specialist flavours and sophisticated brewing has led to a beer revolution as more women opt for the once-deemed male-only beverage.

Optimism among British households has rebounded since plummeting after the Brexit vote, with consumers feeling the most upbeat about their personal finances and economic situation since June. (The Times £)

However, People in their early 30s are half as wealthy as those now in their 40s were at the same age, according to a new report. (The BBC)

Imperial Brands, the UK’s second-largest tobacco company by revenues, has been squeezed by new regulation of tobacco packaging, including plain packets in the UK and new EU rules requiring larger health warnings and banning flavoured cigarettes. (The Financial Times £)

After two years of decline, Britain’s potato market has stabilised and prices look set to remain firm over the next 12 months, delivering a boost to the country’s farmers, according to the boss of the UK’s biggest purveyor of spuds, AIM-listed Produce Investments. (The Telegraph)

The FT asks “Can Unilever’s Paul Polman change the way we do business?” The paper carries an interview with the FTSE 100 chief exec on why he is determined to make his company environmentally sustainable. (The Financial Times £)

Sales at HMV went backwards last year as it retreated from the challenging video games market, and Britons’ move away from physical CD, films and games collections continued. (The Guardian)

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