Sales at Harrods are on track to recover to pre-pandemic levels amid a surge in demand for Rolex watches and Dior handbags. Harrods attracted more domestic shoppers with new restaurants and a hair salon. That plus strong demand from middle eastern shoppers helped Harrods, owned by the Qatar Investment Authority, to mitigate a sharp reduction in Chinese tourists (The Times £). Harrods swung back into profit earlier this year as shoppers splashed out again following the relaxation of pandemic restrictions (The Daily Mail).

The next operator of the National Lottery Allwyn Entertainment is in talks to buy the incumbent, Camelot, in a £100m deal that would pave the way for the removal of the latter’s final legal challenge against the industry regulator. (Sky News)

Corporate insolvencies rose by 40 per cent between July and September compared with a year ago, amid economic strife and the phasing out of pandemic support (The Times £). The number of companies in England and Wales unable to repay their debts rose by 40pc year-on-year as businesses battled the aftermath of the pandemic (The Telegraph).

Hedge fund Elliott Management has upped its stake in Swedish Match to more than 10 per cent, giving it the power to determine the outcome of Philip Morris International’s $16bn takeover offer for the smokeless tobacco specialist. (The Financial Times £)

Global tobacco giants have paid nearly £7bn in taxes to the Russian government since Moscow’s invasion of Ukraine, despite punishing international sanctions and promises to leave the country. (The Times £)

Bullards, a small gin maker, has won a legal battle against Red Bull after it claimed the “bull” in the name was too similar to its brand. (Sky News)

Aldi is increasing pay for its workers for the third time in a year with a new minimum rate of £11 an hour, putting it back at the top of the supermarket pay league. (The Guardian)

Staff at the Co-op will be able to take paid time off for fertility treatments, under a new policy launched by the retailer. (The Guardian)

When Del Currie decided to give up single-use plastic he couldn’t quit his love of crisps. So in March this year he launched Spudos, which now supplies crisps to more than 65 so-called “zero-waste shops” across the UK and Republic of Ireland. These are stores that aim to eliminate packaging, and instead encourage customers to turn up with their own containers, which they fill from dispensers. (The BBC)