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Boris Johnson is unlikely to impose further coronavirus restrictions before Christmas after delaying a decision yesterday (The Times £).

Renewed fears that surging coronavirus infections could prompt a wave of tighter restrictions triggered a sell-off that rippled through global markets yesterday (The Times £).

Shoppers shied away from UK high streets and shopping centres in the last weekend before Christmas, with the number of visitors down 2.6% on the previous week (The Guardian).

Nervousness about catching Covid so close to Christmas kept people at home and sent takings at most pubs, bars and restaurants down by more than 40% on what should have been their busiest weekend of the year (The Times £).

The chancellor needs to “get his act together” and provide support for struggling hospitality businesses, the boss of two restaurant chains has said (BBC News).

The hospitality industry is on the brink of collapse as the government urges people to slash social contacts without offering support to businesses, warned David Page, chairman of The Fulham Shore, which runs the Franco Manca and The Real Greek chains (The Telegraph).

Pub and restaurant chiefs are braced for a wave of bankruptcies as a £1.5bn rent bill is due on Christmas Eve after Covid restrictions triggered a steep drop in festive trading (The Telegraph).

Pubs across London are forced to close doors as ‘stealth lockdown’ wipes out business during vital trading weeks (The Telegraph).

Biscuit maker McVitie’s says the prices of many of its best-selling brands are set to soar (BBC News).

The Financial Times (£) takes an in-depth look at GSK’s plans for independence of the consumer health unit.

The Lex column in The Financial Times (£) takes a look at the appointment by GSK of Dave Lewis. “Reputation of former Tesco chief makes it more likely that investors will put a high valuation on spun-off business.”

A business editorial in The Times (£) says Lewis could be “the tonic” for GlaxoSmithKline.

Senior managers at BrewDog have sought to draw a line under allegations of a “toxic culture” after completing an in-depth review of the way the business is run (The Times £).

Britain’s advertising watchdog has stepped in to referee a row over Pret a Manger’s drinks subscription service amid claims it has generated thousands of customer complaints (The Guardian).

The Guardian takes a look at the Polish workers who have taken up the government’s emergency visa scheme to help bring the UK its Christmas turkeys.

A senior EU official has said she does not expect the bloc to strike a migration deal with the UK because of disputes over the Brexit agreement (The Guardian).

A £4bn takeover of Selfridges by Central Group, of Thailand, and Signa Group, of Austria, is close to being announced, The Times has learnt (The Times £).

Walmart illegally dumps more than 1 million batteries, aerosol cans of insect killer and other products, toxic cleaning supplies, electronic waste, latex paints and other hazardous waste into California landfills each year, state prosecutors have alleged (The Guardian).