Shares in France’s Casino hit their lowest point since 1996 after questions about the retailer’s valuation, already under pressure due to fierce competition in the sector, increased concerns about its debt levels. (The Financial Times £)

Britain’s high street has endured a terrible year so far with several big companies entering administration and others seeking to slash the size of their store estates. According to the Telegraph’s store closure tracker, which tracks closures from major retailers, an estimated 1,171 shops have been closed or earmarked for closure since January - potentially putting 19,609 jobs at risk. (The Telegraph)

The pound has fallen below $1.29 for the first time in almost a year on continuing worries Britain will leave the EU without a trade deal. Sterling slid 0.4% to $1.2894 at around midday - its lowest level since 31 August 2017. The currency also hit a new low for the year against the euro, trading at €1.1135 (The BBC, Sky News).

Trump tariffs take toll on Spanish olive growers, writes The Guardian. US import duties are having a profound effect on a Spanish market worth £50m last year. (The Guardian)

Logistics firm Wincanton is to pay more to help plug the £221m black hole in its pension fund. It will pay £17.3million each year until 2021 and £24.3million each year until 2027 to close the pension deficit. (The Daily Mail)

The UK advertising watchdog has ruled that McDonald’s Happy Meals can be advertised during children’s TV shows because they are “healthy”, but banned ads for KFC and Kellogg’s Coco Pops for promoting junk food to young people. (The Guardian)

Mark & Spencer is allowing customers to return clothing to its food-only stores as it prepares to close 100 shops. Shoppers will now be able to choose from 280 Simply Food stores to return unwanted purchases. (The Daily Mail)

Monster Beverage reported quarterly sales of more than $1bn for the first time in its history, but the energy drinks company said higher costs for promotions and raw materials such as aluminium cans were weighing on some measures of profitability. (The Financial Times £)

Chinese exports increased more rapidly than expected last month, despite an escalating trade war with the United States. Official figures appear to show that the increasingly fierce dispute has not applied the brakes to Chinese exports, with the latest data revealing growth of 12.2% in July. Analysts had forecast 10%. (The Times £)

Albertsons has pulled the plug on its multibillion-dollar takeover of US drugstore chain Rite Aid after executives failed to persuade investors that the tie-up was essential to head off the threat from Amazon and other online competitors. (The Financial Times £)

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