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Customers switching back to online grocery shopping after a post-pandemic decline helped Ocado’s retail division return to profitability and enjoy a record Christmas, its boss has said (The Times £). Ocado’s retail arm returned to the black last year as customers had more Marks & Spencer food options and shoppers switched back to online grocery shopping after a post-pandemic slump (The Guardian). Ocado Retail is on track to return to positive earnings for the 2023 financial year after higher selling prices and growing customer numbers offset shrinking average order sizes (Daily Mail).

GSK was on Tuesday night selling down a stake in Haleon worth about £1bn as part of plans to divest from the FTSE 100 consumer healthcare company. (The Times £)

THG’s has struck a fulfilment deal with the UK’s leading wellness retailer Holland & Barrett for its automated facilities in Britain. (Daily Mail)

The boss of THG has likened his life as an entrepreneur to participating in Squid Game as his embattled ecommerce group reported a year of “many challenges”. (The Times £)

Diageo and former rapper Sean Combs, known as Diddy, announced a surprise settlement of their legal dispute, narrowly avoiding a public trial over their tequila joint venture (Financial Times £). A legal spat between Diageo and Sean “Diddy” Combs has been settled after the FTSE 100 drinks group agreed to buy out the rapper’s 50% stake in the DeLeón tequila brand it jointly owned with him (The Times £). Diageo and rapper Sean Combs, known as Diddy, have said they have settled a legal dispute over their joint spirits brands (BBC).

Cost-conscious shoppers trading down to own-label cleaning products lifted half-year sales at McBride but continuing concerns about inflation and supply-chain risks unnerved investors. (The Times £)

Innocent’s losses have more than quadrupled after the smoothie maker struggled with production issues at its new £200m all-electric factory. (Telegraph £)

Ben & Jerry’s has called for a “permanent and immediate” ceasefire in Gaza, raising the prospect of renewed tensions with its owner Unilever (Telegraph £). The ice cream maker Ben & Jerry’s has called for a “permanent and immediate ceasefire” in Gaza, jumping into the heated debates over the conflict (BBC).

Fuel retailers will be forced to quickly share price changes under government plans to ensure pump costs are fair. (Sky News)

Pepsi vs Carrefour: a battle inflamed by French retail rules. Discussions have been strained by a host of new regulations that are curtailing retailers’ ability to lower prices, while encouraging suppliers to play hardball. First, the government has ordered annual price negotiations between retailers and suppliers to finish by the end of this month instead of March. Second, lawmakers have passed new rules that restrict retailers’ ability to source products on a pan-European basis. (Financial Times £)