Ocado shares were knocked after JP Morgan analysts cast doubt on its value. The online grocer’s shares have surged by more than 60% this year, but according to JP Morgan brokers, its £9billion market value is ‘already stretched’. (The Daily Mail)

Plenty of investors this year have seen Ocado as being on the home stretch as far as establishing its credentials on the stock market is concerned… JP Morgan Cazenove’s analysts were rather more sceptical yesterday. They reckon that Ocado’s £9bn valuation is “stretched”, that the shares are worth 20 per cent less than their value and there is little upside remaining in the price. (The Times £)

The pound lost ground yesterday amid faltering optimism among investors that Britain and the European Union will strike a Brexit deal this week (The Times £). The pound has fallen against the euro and the dollar as doubtful Brexit talks appeared to slow, after an upbeat end to last week that saw sterling and stocks soar (Sky News). Sterling lost some of its lustre yesterday amid concerns that a Brexit deal is still some way off (The Daily Mail).

Bringing home the bacon looks likely to become increasingly expensive this year, with European pork prices hitting a six-year high. Demand from China, where the pig herd has been ravaged by African swine fever, has pushed up wholesale prices at a time when European farmers are wary of boosting production as the virus spreads in the eastern part of the continent. (The Financial Times £)

McDonald’s and Starbucks are pouring millions of dollars into developing eco-friendly alternatives to disposable coffee cups while struggling to find products that can be mass produced, as a global crackdown on plastic gathers pace. (The Financial Times £)

Barnardo’s boss says charity shops are saving the high street, not hurting it. In the view of Roy Clark, head of Barnardo’s retail arm, the stores play a key role in keeping the streets bustling, as well as helping those most in need and continuing a long British tradition of thrift. (The Telegraph)

The BBC interviews Timo Boldt, founder and chief executive of meal kit business Gousto, who says that the company is set to see its current annual sales exceed £100m, and it has secured the same level of investment. (The BBC)

As Pizza Express faces crisis, another restaurant chief says ‘I want to give the rest of the country a taste of Quaglino’s’. If Des Gunewardena, a smooth Sri Lankan-born entrepreneur, is not a celebrity outside the fine dining scene, many of the 44 restaurants he runs through his firm D&D London are household names. (The Daily Mail)