Ben and Jerry vegan

Unilever on Thursday said it had resolved a lawsuit brought by the board of its ice cream brand Ben & Jerry’s over sales in the occupied Palestinian territories, ending an 18-month dispute that laid bare divisions within the company (The Financial Times £).

The company did not provide details of how the litigation had been resolved (The Guardian).

The Bank of England raised interest rates on Thursday by half a percentage point to 3.5%, the highest level in 14 years, and warned that further tightening of monetary policy was likely (The Financial Times £).

A majority of the Bank’s rate-setting committee said the ninth increase in the base rate over the past year was necessary to bring down inflation by 2025 to its 2% target (The Guardian).

The Bank of England has said inflation has now passed its peak as it announced another increase in interest rates, capping off the biggest annual rise in borrowing costs since 1988 (The Telegraph).

UK consumer confidence is at its lowest sustained level in almost 50 years, as the country braces for a prolonged recession, according to a closely watched survey (The Financial Times £).

Public confidence in the economy remains close to 50-year lows, despite a slight improvement in sentiment this month, a key survey suggests (The Times £).

British retail sales unexpectedly contracted in November as the cost of living crisis hit household finances and consumer confidence (The Financial Times £).

Packs of Mini Cheddars have been made smaller and less cheesy as the biscuits become the latest victim of “shrinkflation” in supermarkets (The Telegraph). The Jacob’s brand has shrunk its packets and reduced the amount of dried cheese in its recipe – but prices on supermarket shelves have broadly remained the same.