Secret visits and a six-day week: inside the radical turnaround at Morrisons. The new boss of Morrisons, the troubled supermarket chain, has laid down the gauntlet to staff by saying businesses are like candles that will burn out unless they change. Rami Baitiéh, who swapped Paris for Bradford when he joined Morrisons from French supermarket giant Carrefour last month, has sought to inject a sense of urgency by laying out the heavily indebted company’s predicament in stark terms. (The Times £)

The post-Brexit farming subsidy scheme in England has failed to improve on the old EU system and large landowners are still benefiting disproportionately, according to the president of the National Farmers Union. (The Financial Times £)

Retailers are facing a tough new year as weak consumer demand is expected to combine with a barrage of increased costs, including the higher minimum wage. (The Guardian)

Petrol prices have fallen to lowest level at the pumps on average for more than two years, the RAC has said. (The BBC)

Shares in the Italian drinks maker Campari dipped as much as 5% after it said it was paying $1.3bn for the brandy brand Courvoisier. The worry is that Campari may be overpaying. Sales of the French spirit are slowing after a decade-long boom. Courvoisier sales were down by a third in the year to October as US shipments fell. Campari’s profit margins will take a hit next year when the deal is expected to be completed. (The Financial Times £)

A court in the Netherlands has ordered British American Tobacco to pay a fine of €107m, saying that it had under-declared profit by €1.8bn during the 2013-2016 period and owed tax as a result. (The Times £)

‘Sainsbury’s is back – the heyday of German discounters is over’. Retail giant’s chief on why his supermarket is regaining ground on Aldi and Lidl. Simon Roberts, Sainsbury’s chief executive, said that major supermarkets such as his were back in vogue as people seek out shops where they can buy all their groceries in one place, rather than hunting out bargains across multiple stores. (The Telegraph £)

Recent talk across the retail sector points to a rift between Mohsin and Zuber Issa, with tensions said to be running high over a family matter. Crucially, this alleged strain comes at a time of unprecedented financial pressure for the Asda owners, as billions of pounds of debt bear down on their empire like never before amid higher interest rates. (The Telegraph £)

The Middlesbrough accountant who conquered Walmart — then gave it all up. As she leaves Walmart International, Judith McKenna reflects on her remarkable rise, offloading her beloved Asda and the time British staff were given a motivational chant. (The Times £)

Britain “missed warnings” that the country faced an epidemic of youth vaping after “gambling” with non-smokers’ health by promoting e-cigarettes, experts claim. (The Times £)

The City is abuzz with talk that the US parent company of Boots has revived plans to offload the company, raising the prospect of a multibillion-dollar sale or even a stock market float of one of Britain’s biggest high street names. But if Boots is to stand any chance of injecting some pizzazz back into UK stocks, management must dispel long standing doubts about its prospects. (The Telegraph £)

Boots is plotting the launch of a pioneering ChatGPT ‘personal shopper’ for its website which would be able to recommend lipsticks and make suggestions for beauty gifts. (The Telegraph £)

British tipplers quaff 215 million bottles of sparkling wine a year, most in the form of Italian prosecco and Spanish cava. Britain’s biggest sparkling wine producer Chapel Down intends to make the most of new trends. (The Daily Mail)

Stefan Bomhard, chief executive of Imperial Brands, now has a larger proportion of his bonus tied to the success of the company’s vaping division, a sign of how important this is to the ciggie-maker. Meanwhile WH Smith boss Carl Cowling had part of his bonus down to the group developing a high-end food range and a new meal deal. (The Daily Mail)

Scottish entrepreneur Sir Tom Hunter has reiterated his backing for THG, calling it “world-class” even as activist investors call for the company to be broken up. (The Times £)

Matt Moulding, founder of the group which operates a beauty business, a nutrition business and the e-commerce services platform Ingenuity, has proceeded with his stakebuilding in Kelso Group — the listed investment group founded by John Goold that is calling for a break-up of THG. (The Times £)

Whether served neat, with salt and lime or in a margarita, tequila fever is surging, leaving gin and vodka gathering dust in the drinks cupboard. Tequila was the only spirit where sales and value rose in Britain last year, with an 9% increase in market value from £24m in 2022 to £35m in 2023, according to the Wine and Spirit Trade Association. (The Telegraph £)

Company insolvencies rose by a fifth last month as more businesses came under pressure from rising interest rates and a fall in consumer spending power. (The Times £)

An ice lolly-themed beer has been discontinued after a boy saw his dad drinking it and burst into tears because he wasn’t allowed to try it. Brewery Northern Monk also withdrew a hot cross bun-themed ale called Wasted after it too was criticised for appealing to under-18s. (The Telegraph £)

Known for selling goods in bulk, Costco’s latest such offering – gold bars – has proved a hit, with $100m worth sold in the most recent quarter. (The Guardian)

The news that Champagne sales in France dropped by 21% this year only seems to confirm that many of us find it both too bling and too celebratory. Of course, the news also sent shockwaves beyond France, where it is a symbol of French civilisation at its finest. Is France sinking? Have the French lost their joie de vivre? (The Guardian)