The Co-operative Group has seen earnings tumble following a jump in commodity prices and the end of a business rates holiday (The Daily Mail). The Co-operative Group has reported a sharp drop in profits as energy and wage inflation pushed up its costs (The Times £).

The boss of Mitchells & Butlers, the pub and restaurant group behind All Bar One and Harvester, has warned that rising energy costs and falling consumer confidence are making trading “very challenging” (The Times £). Mitchells & Butlers, the UK’s largest listed pub group, has warned that energy costs will continue to squeeze profit margins despite the government’s multibillion pound energy support package (The Financial Times £). Pub operator Mitchells & Butlers has cautioned that its annual energy expenses are anticipated to be almost double pre-pandemic levels (The Daily Mail).

The foil-wrapped chocolate bunny made by premium chocolate maker Lindt & Sprüngli is celebrating a legal victory, after Switzerland’s highest court ruled that it deserves protection from copycat products, including one made by Lidl. (The Guardian)

The boss of Next said the jury was out on the Government’s economic plans – as the retailer warned of the impact of cost of living pressures to come (The Daily Mail). Next has warned that the weaker pound seen in the wake of the mini-budget could prolong cost of living pressures (The BBC).

The FTSE 250 index of companies, regarded as a barometer of the health of the UK economy, endured its worst session yesterday since the onset of the pandemic lockdowns more than two years ago. (The Times £)

Market turmoil and higher interest rates will result in constraints on lending to small businesses and a surge in borrowing costs, experts have warned, just as companies are asking for short-term loans to navigate rising prices and the threat of waning demand. (The Times £)