Christmas dinner will be nearly 22% more expensive this year than in 2021, according to new research for the BBC. The price of seven key items has risen by £5.36 over a year, with chipolatas – the crucial ingredient in pigs in blankets – seeing the steepest jump. (The BBC)

John Lewis has teamed up with investment manager Abrdn in a £500mn multi-decade deal to build 1,000 rental homes, becoming the first British retailer to turn some of its shops and other properties into houses (The Financial Times £). The John Lewis Partnership has revealed plans to build 1,000 rental properties on its land as part of a drive to diversify its business (Sky News). John Lewis has agreed a £500m deal to transform supermarkets and warehouses into 1,000 rental homes as part of a major house building push by the retailer (The Telegraph £).

Hotel Chocolat’s pandemic recovery has been stalled by the near collapse of its joint venture in Japan (The Times £). Hotel Chocolat has slumped to a loss as continued coronavirus restrictions in Japan led the group to write off its investment in a joint venture set up just four years ago (The Daily Mail).

Hotel Chocolat has said it will be cutting back on discounts in the lead-up to the Christmas holiday season and is ditching its beauty brand after swinging to an annual loss, but assured it was still on track for its busiest December yet. (The Guardian)

Controversial beer brand BrewDog has lost its status as a B Corp less than two years after joining the scheme, which offers certification of a company’s ethical commitment to the environment, community and staff. (The Guardian)

The pound rose to its highest level against the dollar since early August yesterday as traders bet that the pace of rate rises in the US was about to slow (The Times £). The pound stormed to its highest level against the dollar in over five months despite gloomy economic figures stoking recession fears (The Daily Mail). The pound reached a four-month high against the dollar as hopes raised that Chinese lockdowns would ease and US interest rates increases would slow (Sky News).

The Times has an interview with the Briton running Walmart’s global empire, Judith McKenna, on how she moved from Asda in Leeds to take on the world. On its sale of Asda she says: “To keep it strong and healthy for the long term, we would have needed to not only invest, but probably to step up a level of investment.” (The Times £)

UK farmers are receiving negligible profits for many items as food prices rise and supermarkets boast record takings. (The Guardian)

Investors tucked into Deliveroo after analysts dismissed concerns that the cost of living crisis will eat into the food delivery group’s gross transaction value (The Times £).

When Britons pop bottles of bubbly this Christmas and new year, Andrew Carter believes there is a higher chance than ever that their fizz will be home-grown. The English wine industry, the Chapel Down CEO says, has reached its tipping point. (The Daily Mail)

Inflation overwhelms Europe’s food banks – a surge in demand from the region’s poorest has led some organisations to turn away new applicants. (The Financial Times £)