Just Eat Takeaway is laying off 1,700 delivery couriers across the UK and returning to the gig-economy model that its chief executive Jitse Groen had previously said “comes at the expense of society and workers themselves” (Financial Times £). Just Eat Takeaway will stop employing its own workers in the UK, as it reverses a high-profile effort to reduce reliance on the “precarious” gig economy (The Times £). Just Eat is cutting 1,700 jobs and will no longer employ its delivery riders in a major U-turn from its chief executive (Daily Mail). It will use gig economy workers to deliver food in the UK, as opposed to the hybrid system of employees and self-employed workers, despite strong comments by the chief executive against the gig economy (Sky News). The drivers and riders affected have been given six weeks’ notice (BBC).

Tesco has angered shoppers by announcing that it will be reducing the value of its popular Clubcard reward scheme from 14 June (The Guardian). Tesco customers used to be able to cash in their Clubcard points for triple their value with reward scheme partners, getting money off restaurant meals and days out – now the points will only be worth double (Sky News). Some Tesco customers reacted with disappointment to the grocer’s announcement, pointing out it came as supermarket prices were rising (BBC).

John Lewis risks becoming ‘just another Debenhams or Sports Direct’ if it scraps its cherished staff ownership model, campaigners fear. Peter Hunt of mutual lobby group Mutuo warned that John Lewis raising as much as £2bn would mean nearly half the business could end up being owned by an outside investor. (The Daily Mail)

John Lewis may find that cuddly co-investors don’t exist, writes Nils Pratley in The Guardian. “White is fishing in an extremely small pool of potential investors if candidates have to be culturally like-minded and happy to lock themselves into a minority position in an unquoted vehicle for the long-term. The partnership may find that any financial offers of help are less than compelling. The plan has a whiff of desperation about it.” (The Guardian)

Nestlé has acknowledged that the nutritional value of less than half its portfolio of mainstream food and drinks can be considered “healthy” using a commonly accepted definition, despite pressure on packaged foodmakers to make their products more nutritious. (Financial Times £)

Mozzarella, cornflakes and brie are some of the food products to have more than doubled in price in the last year, new analysis has found. The cost of some everyday groceries has increased by more than 100%, consumer brand Which? found, when it looked at 25,000 food and drink products from eight major supermarkets. (Sky News)

BNP Paribas Exane has upgraded Sainsbury’s to ‘outperform’ from ‘neutral’ The broker Gwynn was previously worried that British consumers were about to rein in spending given the political and economic uncertainty. He now admits consumers have proven more resilient than once feared. The likes of Lidl and Aldi are still winning over customers with their value offerings, but most of those are defecting from Morrisons and Asda. (The Times £)

The British Honey Company, a UK based producer of honey and craft spirits, is set to fall into administration after failing to secure long-term funding and find a buyer. (Daily Mail)

A peanut butter- flavoured whiskey launched in San Diego by a Cambodian refugee has been swallowed up by the world’s second-biggest drinks group for an estimated sum of as much as £400m. (The Times £)