Tesco CEO Dave Lewis

The Groceries Code Adjudicator (GCA) will deliver a slap on the wrist to Tesco on Tuesday as it reveals the findings of a year-long investigation into allegations the company breached the industry code of practice by delaying payments to suppliers and demanding extra fees. “The GCA’s investigation into Tesco is the first since it was launched a 2013 and is a substantial test for the credibility of the organisation.” (The Guardian)

The paper also states that Tesco could face a £500m fine for the accounting scandal at the retailer. The Serious Fraud Office may announce the findings of its investigation into the £326m black hole in the company’s accounts as early as this week. (The Guardian)

The Daily Mail calls it “another day of shame for Tesco”, writing: “Tesco is set to be hit with £500million of fines as bosses face being named and shamed today over an accounting scandal that has rocked the supermarket.” (The Daily Mail)

In more positive news, shares in Fever Tree Drinks fizzed higher after the upmarket tonic water maker cheered investors by reporting its full-year revenues will be more than 70% higher than it achieved last year (The Telegraph). The Guardian writes: “Those who endorse the Fever Tree success story argue that the mixer market has a long way to go to match the upgrading of premium spirits sales.” (The Guardian)

The Telegraph’s Questor column looks at Fever Tree, writing: “Fever Tree has recorded an excellent first full year of trading as a listed entity, and we would be happy to hold its stock for the long-term growth story.” However, it cautions that the shares are “quite expensive” when compared with other drinks companies that trade on about 18 times earnings. (The Telegraph)

Sainsbury’s largest investor, the Qatar Investment Authority, has indicated that it might be willing to support a £1bn-plus bid for Home Retail Group at a “modest” increase to the 130p or so cash and shares offer rejected by the Argos owner in November. The QIA is said to be deliberating on its position after discussing the strategic thinking behind the deal with Sainsbury’s chief executive, Mike Coupe, and chairman, David Tyler. (The Guardian)

Investors in Morrisons have been waiting for the sector to bottom out so they can pile in and enjoy the rebound. Research suggests Morrisons, the UK’s fourth largest supermarket chain, may have turned a corner. Its shares have sunk 40% over the past five years, rival Tesco has fallen 61% and Sainsbury’s has slipped 38% in comparison. (The Daily Mail)

The flimsiness of rival Brexit claims is leaving voters to focus on the issue of sovereignty as the latest tussle over Brussels shows up the weak economic claims by both sides, writes the FT’s Lombard column. (The Financial Times £)

McDonald’s showed signs that it is reviving its US business, reporting a second consecutive quarter of rising same-store sales in its home market, thanks in part to the introduction of all-day breakfasts (The Financial Times £).

Most of the press focus on the announcement that McDonald’s is to introduce table service in the UK. “The home of fast food is moving into slower dining with the expansion of table service in a third of its British restaurants,” writes The Times (£), while The Telegraph says the company is trying to revamp its image amid intensifying competition in the fast food space. The fast food chain will roll out table service at 400 revamped restaurants before the end of 2016 (The Guardian) as customers pay in digital kiosks as they walk in before being waited on (The Daily Mail)