Up to 576 UK jobs could go in AB InBev’s takeover of rival brewer SABMiller, with the £79bn deal set to complete on October 10. (The Telegraph) SABMiller’s UK operations are set to miss out, according to AB InBev. The SABMiller office in Woking, Surrey will stay open for a transitional period only while the two companies combine. (The Guardian)

Anheuser-Busch InBev’s domination of the global beer industry once it takes over SABMiller is to be mirrored on the management board on which 19 out of 20 senior roles will be taken by the Belgian brewer. (The Financial Times £)

Elsewhere the business news is dominated by the Bank of England’s decision to cut UK interest rates to a historic low of 0.25%. “Carney issues stark warning with package to ease Brexit downturn”, is the headline in The Financial Times (£), while The Times (£) has “Bank slashes its growth forecasts as Brexit bites” and The Telegraph “Pound plunges as Bank of England cuts interest rates for first time since 2009”.

Elsewhere, BrewDog is seeking to raise up to $50m (£38m) from American ale enthusiasts to expand in the US despite only having a niche following in the world’s biggest craft beer market and no sales there for the past year (The Guardian). Brewdog has launched a $50m crowdfunding round in the United States as it seeks to take a piece of the world’s biggest craft beer market. (The Telegraph)

Embattled high street retailers narrowly avoided a decline in sales last month thanks to heavy discounting and rising demand for homewares, new figures have showed. However, their move to slash prices in a bid to attract more shoppers will probably hit their margins and profits, business advisory firm BDO said. (The Daily Mail)

Tim Mason, the former Tesco marketing boss who led the failed attempt to conquer the US with Fresh & Easy, has insisted the chain could have succeeded and that its meltdown under its disgraced former boss Philip Clarke could have been avoided. (The Guardian)

Pets at Home predicts the market for animal companions will remain “resilient” even if Brexit triggers a recession, after revealing strong growth as consumers continue to splash out on their pets (The Telegraph). The rising demand among the owners of Britain’s pampered pooches for blow-drying and pedicure services, as well as ear-plucking and nutritional advice, helped the nation’s largest pet shop chain post a rise in quarterly sales (The Times £).

Campaigners have attacked junk food marketing by sponsors of the Olympic Games in Rio, claiming that companies are once more using the sporting event to promote unhealthy high-fat and sugar products. Team GB is sponsored by Kellogg’s, whose Olympics marketing theme is “Great Starts”. But many of the breakfast cereals it is promoting, such as Frosties and Coco Pops, are high in sugar, said the Children’s Food Campaign. (The Guardian)

Chinese breweries have a bigger problem than the looming merger of AB InBev and SABMiller. The ground is shifting as consumers are increasingly prepared to spend more on a brew, and domestic firms are struggling to take the fight to foreign entrants. (The Financial Times £)

When Rowan Gormley, chief executive of Majestic Wine, announced last month that he would give staff his portion of a potential £7m share bonus, he had more than just altruism on his mind. “I felt that the shares being allocated to me would mean a lot more to other people,” he says. (The Financial Times £)

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