The Body Shop is to close almost half of its 198 shops in the UK and will significantly reduce staffing levels at its head office, leading to hundreds of job losses (The Times £). The Body Shop will close just under half of its 198 UK stores, putting hundreds of jobs at risk, the ethical beauty retailer’s administrators said on Tuesday (Financial Times £). The Body Shop will close nearly half of its UK stores and axe hundreds of jobs as it battles for survival (Daily Mail). The Body Shop is set to shut up to half of its 198 stores in the UK and cut the size of its head office, leading to hundreds of job losses (BBC)

The Body Shop is to cut 300 jobs at its head office while almost half of its 198 stores in the UK could close with the loss of hundreds more jobs as the business battles for survival (The Guardian). The Body Shop has announced it is closing nearly half of its stores in the UK - including seven on Tuesday - and cutting 40% of roles at its London headquarters (Sky News).

The Body Shop is closing its flagship Oxford Street store immediately, as it almost halves its presence on UK high streets after collapsing into administration (Telegraph £).

Britain’s competition watchdog is conducting a market study into the infant formula market after discovering consumers could save money by choosing cheaper brands. (Daily Mail)

The UK infant formula market is under investigation after regulators said parents could be saving £500 in their baby’s first year. (BBC)

The price of baby formula is coming under fresh regulatory scrutiny - amid fears they remain “historically high” (Sky News). Baby formula makers face an investigation over “historically high” prices amid concerns that some parents are watering down milk to make it last longer (Telegraph £). The cost of infant milk remains at “historically high” levels despite some price falls in recent months, Britain’s competition watchdog has said, as it launched a full-scale investigation into baby and toddler formula (The Guardian).

Tesco is changing how it displays Clubcard prices after consumer groups claimed promotions made it harder for shoppers to spot the best deals (Telegraph £). Tesco is changing how it displays prices on its Clubcard deals in stores and online following criticism from the consumer organisation Which? (BBC).

Food businesses sending products to the EU have had to fork out an extra £170m in export costs because of Brexit red tape, with the changes described as being “catastrophic” for some exporters. (The Guardian)

UK government plans to introduce labels to promote homegrown food products, including the high animal welfare standards used to produce them, have sparked a ministerial row across Whitehall. (Financial Times £)

The head of the National Farmers’ Union has warned food security risks becoming a “poor relation” to other national priorities, as the prime minister today promises its members the government will stick “by their side”. (Sky News)

Walmart said prices for some of its products did not decline as much as it had anticipated during the most recent quarter, reflecting the sticky inflationary environment in the US that is prompting investors to reassess when the central bank will start cutting interest rates. (The Financial Times £)

Walmart has agreed to buy Vizio, a maker of “smart” televisions, for $2.3bn after beating sales forecasts and announcing its biggest dividend increase in more than a decade. (The Times £)

Danone is planning to sell its Russian business to a member of its Kremlin-installed management linked to the nephew of Chechen strongman Ramzan Kadyrov, seven months after Vladimir Putin ordered the seizure of the French company’s local operations. (Financial Times £)

Lyle’s Golden Syrup is replacing the image of a dead lion swarmed by bees on its logo with a new design on many of its products after more than 140 years (Sky News). The image of a dead lion being swarmed by bees is to be dropped from some of Lyle’s Golden Syrup packaging (BBC).

Thanks in no small part to an endorsement from an American investment group’s analysts, it was time to tuck into a slice of Domino’s Pizza. The team at Jefferies listed a number of reasons as to why they had taken a more positive view on the pizza delivery group. (The Times £)

Woolworths’ chief executive, Brad Banducci, has resigned after almost nine years heading Australia’s biggest supermarket chain, as political pressure mounts over the company’s expanding profits at the same time as shoppers grapple with fast-rising grocery prices (The Guardian). Woolworths boss Brad Banducci has announced his resignation, amid scrutiny over alleged price-gouging tactics used by the Australian supermarket giant (BBC).

Why your Easter egg will be smaller and more expensive this year. Poor cocoa harvests in West Africa threaten to leave consumers with a bitter taste. (Telegraph £)