The Japanese brewing giant Asahi is nearing a £5bn takeover of a portfolio of European beers that includes the Czech lager Pilsner Urquell, after edging ahead in a fiercely competitive bid battle. Asahi is viewed as the front-runner in the race to buy the eastern European business of SAB Miller, which has been put up for auction following the brewer’s £79bn sale to Anheuser-Busch InBev. (The Times £)

Shares in banana producer Fyffes have soared after Japanese conglomerate Sumitomo Corporation launched a multi-million pound cash bid for the Dublin-based company (The Telegraph). The deal brings together the two largest banana distributors in Asia and Europe and results in a big payout for the McCann family, one of Ireland’s most prominent business dynasties (The Guardian).

Britain’s corner shops have contributed towards a record £299m investment over the past three months as the return of local shopping brings more customers but intensifies competition from the big supermarkets. The investment by convenience retailers, from small corner shops to local Tescos and Spars, takes the total this year to £838m, according to the Association of Convenience Stores. (The Times £)

The Mail tips Hotel Chocolat shares, writing: “With just a fortnight until Christmas, thoughts are inevitably turning to food, drink, treats and gifts. Hotel Chocolat covers all four categories. The group listed on AIM in May, the shares are 264¼p and they should increase in price as the business expands both in the UK and overseas.” (The Daily Mail)

Rising food prices have helped drive inflation to its highest level for more than two years, figures are set to show this week. Economists expect annual consumer price inflation to be up from 0.9% in October to 1.2% last month, the biggest jump since October 2014. (The Times £)

“The business as usual” approach taken by many firms following the Brexit vote has helped boost UK growth this year, but it will not last, the British Chambers of Commerce has warned. The business body expects GDP to grow by 2.1% this year, up from the 1.8% it forecast just three months ago. But uncertainty over the UK’s EU relationship and higher inflation will “dampen medium term growth,” it said. (The BBC)

When “Marmitegate” broke in November, many small business owners may have felt the issues of a weakening pound had been a little over simplified. “Rising business costs are manageable”, writes The Guardian, as entrepreneurs are taking another look at their business operations to deal with higher wage bills, workplace pensions and the falling pound.

Coca-Cola Co said on Friday that Muhtar Kent would step aside as CEO next year and be replaced by James Quincey, a British-born company veteran credited with several recent changes to help the company cut its dependence on sugary drinks. Quincey said company would also concentrate on its sparkling beverage business, push into other drink categories and continue to innovate. (The Guardian)

McDonald’s has downsized plans to sell parts of its Asia franchise after failing to find a suitable buyer in South Korea. The world’s largest fast-food retailer has a stringent list of terms for the deal, including keeping management and existing suppliers in place for a period of time in the hope of protecting the brand. (The Financial Times £)

Scottish spirits are soaring, but it’s gin, not whisky being produced by independent whisky distillers because it’s quicker and easier to make, and gives them a faster return. (The Guardian)

The number of pub and bar companies going out of business has fallen by 7% over the past year amid increased popularity of craft beers and food, a survey shows. Ortus Secured Finance, which lends money to the hospitality sector, said the number decreased from 521 to 480, partly due to firms replacing bank funding with alternative finance. (Sky News)

Nando’s has reported a big increase in sales following a push into overseas markets. The restaurant chain said revenue rose to £809m in the year ending February, up from £587m last time. Pre-tax profit declined to £21.3m from £44.6m, mainly because of spending on new outlets. (The Times £)

Investigators probing the collapse of BHS are set to force blue-chip City firms who worked on the store’s sale to hand back more than £8million, the Mail understands. Administrators liquidating the final assets of the department store are trawling through three years of payments in a bid to claim back any deals that could have disadvantaged creditors. (The Daily Mail)

A convicted fraudster received several payments from BHS after Sir Philip Green sold the department store chain for £1, The Sunday Times has established. Paul Sutton, a middleman who paved the way for former bankrupt Dominic Chappell to buy the struggling business from the Topshop billionaire, is understood to have received three payments from a company called Capital Management between October last year and February this year. (The Times £)

 

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