Diageo, the FTSE-100 alcoholic beverages giant, is exploring the sale of a trio of non-core brands including Pimm’s, the quintessentially English drink. Alongside Pimm’s, Diageo is exploring the sale of Safari, a fruit liqueur, and Pampero, a rum brand (Sky News). Diageo, one of the world’s biggest spirits groups, is understood to have hired advisers from Rothschild, the investment bank, to sound out potential buyers for the gin-based drink (The Times £).

Nestlé reported lower than expected full-year sales as the world’s biggest food company pinned the blame on a continued squeeze on household budgets. (The Financial Times £)

Danone has announced plans to raise its dividend as the French maker of yoghurt and bottled water said it had delivered on key milestones two years into a turnaround process. (The Financial Times £)

Recession concerns and uncertainty about how the economy will perform in the coming year led to consumer confidence falling this month for the first time since October. (The Times £)

The owner of Cadbury has been attacked by MPs for continuing to sell chocolate in Russia two years after the invasion of Ukraine (The Daily Mail). Mondelez accused of ‘moral bankruptcy’ after boss defends decision to stay in country (The Telegraph £).

Milka manufacturer Mondalez has taken legal action against Tony’s Chocoloney for mimicking its chocolate packaging. The self-styled ethical chocolate firm has launched four new temporary wrappers, inspired by well-known bars Milka, Nestle, Mars and Ferrero. The bars were released in Germany and Austria to highlight child labour in the cocoa industry. (The BBC)

Delivery riders are to strike again on Friday as takeaway order numbers fell during the Valentine’s Day walkout. There were roughly 30% fewer orders in London during the strike period last Wednesday than the same 5pm to 10pm hours on Valentine’s Day in 2022 and 2023, according to delivery rider app, Rodeo. (Sky News)

Russia has pulled out of a long-standing fishing deal with the UK - and said Britons should “lose weight and get smarter”. (Sky News)

Mexican food importer takes a shot at navigating Brexit. Eduardo Gomez said Mexgrocer had been forced to invest £2m and employ ten people in the Netherlands to circumvent Brexit trade restrictions. (The Times £)