The new owners of The Body Shop are lining up administrators for its British arm just weeks after taking control of the cosmetics retailer, in a move which could threaten significant numbers of shops and jobs (Sky News).

The Body Shop’s new European private equity owners are set to call in administrators for its UK business only weeks after the retailer changed hands in a £207mn deal (The Financial Times £). The new owners of The Body Shop are set to appoint administrators for its British business only weeks after taking control of the cosmetics retailer in a £207m deal (The Times £).

The Body Shop, the skincare and cosmetics retailer founded by the campaigner Anita Roddick in the 1970s, is set to appoint administrators in a move likely to result in lost jobs and shop closures (The Guardian). The Body Shop’s UK business is set to appoint administrators this week, in a move likely to result in shop closures and job losses (The BBC). The Body Shop’s private equity owner is preparing to call in administrators for its British shops (The Daily Mail).

Global cocoa prices have soared to record highs as bad weather batters harvests in the world’s main producing countries in West Africa (The Financial Times £). The price of cocoa has doubled over the past year to a record high and chocolate is likely to follow suit as traders scramble for supplies (The Times £). Global cocoa prices have surged to a record high this week as bad weather conditions impact crops in West Africa (Sky News).

The US chocolatier Hershey has warned on profits and sales after a sharp increase in the cost of cocoa to record levels pushed up the price of chocolate, hitting cash-strapped consumers in the pocket. (The Guardian)

John Lewis boss Sharon White is facing the threat of workers going on strike over fears of mass job losses (The Daily Mail). John Lewis bosses have been warned they risk sparking a staff walkout as workers demand answers over planned mass job cuts (The Telegraph £).

The government has admitted that key data this week will show inflation rising again, in what will be a further blow to Rishi Sunak’s goal of taming price increases (The Times £).

Britain’s economy looks set for a double setback this week – with figures expected to confirm a recession at the end of last year and a rise in inflation at the beginning of 2024. (The Daily Mail)

Labour considering ban on sale of energy drinks to under-16s. The proposal has been submitted for the party’s election manifesto, amid growing evidence of the health risks to young people (Sky News). Labour is considering a ban on the sale of energy drinks to children if it wins power in the general election (The Guardian).

Farmers say there will be further French-style blockades following a slow tractor protest at Dover against low supermarket prices and cheap food imports from post-Brexit trade deals. (The Guardian)

Snacks and drinks seller PepsiCo’s quarterly revenue declined despite raising prices, in a sign that consumers are becoming more hesitant after years of food price inflation. (The Financial Times £)

Tesco has announced the sale of most of its banking arm to Barclays in a deal worth up to £1bn (Sky News). Barclays has struck a deal to buy most of Tesco’s banking business for about £600m in a move aimed at boosting the lender’s consumer operations in Britain (The Times £). Tesco has struck a deal to sell the bulk of its banking business to Barclays for £700m in a deal that will include the transfer of about 2,800 staff to the bank (The Guardian).

Tesco CEO Ken Murphey writes that youth employment needs to be a political priority. “The apprenticeship levy is restrictive and impractical, if well intentioned… If reforms had been made when we first started asking for them five years ago, we would have recruited an additional 2,500 apprentices in Tesco alone.” (The Daily Mail)

Sainsbury’s management woke up to the fact that “the single thing we needed to do was price”. CEO Simon Roberts said: “That was the biggest reason people didn’t shop with us. We were too expensive.” That left two choices: either keep the higher-cost, higher-price formula and live with the resulting much lower profits; or look for cost savings and become more competitive. Sainsbury’s chose the latter. (The Times £)

Tesco has been targeted in an extraordinary “cash for crash” scam where its drivers were paid to stage accidents so fraudsters could extract millions of pounds from the supermarket giant. (The Times £)

The restaurant group behind the ASK and Zizzi chains is preparing to open its first Boojum Mexican restaurant on the British mainland, amid speculation that the company could be sold. (The Times £)

Sugar refiner finds its sweet spot. Ragus may be battling market volatility, climate change and supply chain issues but it is the customers who are increasingly driving the agenda, rooted in sustainability. (The Times £)