The private equity owners of Morrisons are sounding out buyers for a portfolio of its warehouses, fisheries and food manufacturing plants that is expected to fetch more than £600m (The Times £). The private equity owner of Morrisons is planning to sell properties used by the grocer’s food production arm as rising inflation squeezes the supermarket industry (The Telegraph). An American private equity firm looks set to soon begin carving up Morrisons days after its £7 billion takeover of the British supermarket chain was formally approved (The Times £).

Morrisons’ US private equity owner is facing a backlash over a plan to sell off fisheries, warehouses and food manufacturing plants. (The Daily Mail)

Morrisons is raising pay for its store workers as UK supermarkets battle for staff amidst increasing competition in the sector. (The BBC)

The government’s lead adviser on food issues has condemned what ministers have billed as a landmark national plan to combat food poverty and obesity, saying it is “not a strategy” and warning it could mean more children will go hungry (The Guardian). The head of a landmark review of England’s food system has called for “much bolder” action to address climate change and obesity after government proposals focused on production were attacked by campaign groups (The Financial Times £). A draft of the government’s food strategy leaked last week ignored a number of recommendations from Leon founder Henry Dimbleby, including a salt and sugar tax, and government action on obesity (Sky News).

Ministers are planning to reject the main recommendations from a major review of England’s food strategy as Boris Johnson seeks to regain the support of rightwing MPs and avoid hitting households with new expenses in the cost of living crisis. (The Financial Times £)

It has been described as the biggest change to supermarket retailing since supermarkets were invented. Now that the promotions for the platinum jubilee have been taken down, work has started on a transformation of the way £17bn of food is sold each year in the UK. (The Financial Times £)

Britain’s biggest supermarket will next week shed light on the extent to which the spiralling cost of living is impacting consumer spending. Tesco’s trading update for the three months to the end of May comes as shoppers face rising energy bills while wages fail to keep up with inflation. (The Daily Mail)

The competition watchdog has been told to carry out an “urgent review” of the fuel industry amid concerns that retailers are not passing on the 5p cut in duty to motorists (The Times £). The government has ordered an “urgent” review by the competition regulator into the fuel market after pump prices hit new record highs (Sky News). Business Secretary Kwasi Kwarteng has urged the Competition and Markets Authority to examine the fuel market and whether there are local variations in petrol and diesel prices (The BBC).

Soaring fuel prices are depriving high streets of £23m a day of consumer spending as household budgets come under pressure, figures suggest. (The Times £)

The work from home revolution has caused “permanent scarring” to the UK’s high streets as staff continue to shun the office months after pandemic restrictions have ended, the boss of a data firm has warned. (The Telegraph)

Rapid food delivery primed to be the next victim of the ‘tech wreck’, writes The Times. No one has ever made a decent return from online food delivery. Now a rash of start-ups are running out of road. (The Times £)

The board director trying to buy THG for less than half its listing price faced a small rebellion at the ecommerce group’s shareholder meeting. (The Times £)

The Hut Group’s chairman has dismissed recent criticism of the company as ‘flim-flam’. (The Daily Mail)

Former McDonald’s restaurants in the Russian capital have reopened under a new name, Vkusno & tochka (“Tasty and that’s it”), in a rebranding intended to comfort Russians that they can continue to live western lifestyles – even if Big Macs are gone from the menu (The Guardian). McDonald’s has reopened its doors under a new name in Russia after the fast food giant pulled out of the country over its invasion of Ukraine (Sky News). Gone are the Golden Arches, replaced by a stylised letter M, made out of two French fries, and a dot (The BBC).

The Times advises investors to buy SSP Group as its recovery is gaining momentum. It returned to operating profit in the first half, and with this summer’s pent-up demand for holidays and the return to eating “al desko”, turnover in six weeks of April and May hit 83% of 2019 levels. (The Times £)

The Mail tips Tate & Lyle shares. Looking ahead, prospects are promising. The world is growing fatter but that needs to stop and Tate’s ingredients can make the process less painful. (The Daily Mail)

The high street is dying and Covid ruined travel – but The Telegraph is still upbeat about WH Smith. International growth potential and cost reduction plans are poised to improve its performance. (The Telegraph)

Soaring food prices caused by the war in Ukraine have increased the risk of famine, raising pressure on producers of low-carbon fuels derived from crops and sparking a “food versus biofuel” debate. (The Financial Times £)

World Trade Organization director-general Ngozi Okonjo-Iweala has urged governments to end export restrictions on food to help alleviate the growing hunger caused by Russia’s invasion of Ukraine. (The Financial Times £)

On Tuesday, Marks & Spencer threw a party at Westminster Abbey’s cloisters to toast the retirement of Steve Rowe, its chief executive of six years. John Lewis boss Dame (Sharon) White and Sainsbury’s chief Simon Roberts were in attendance — as were M&S’s ex-boss Marc Bolland and former chairman Robert Swannell. (The Times £)

South Korea’s consumers force business to rethink plastic use. The country has a high recycling rate, but a growing zero-waste movement gives companies no room for complacency. (The Financial Times £)

Topics