M&S CEO Stuart Machin

Marks and Spencer’s chief executive received the biggest pay package the retailer has awarded in a decade, taking home £4.7mn as the group continued to improve its fortunes (The Financial Times £). Marks & Spencer chief executive Stuart Machin has landed a £2m pay rise after his turnaround push helped the retailer to its best financial position in almost 30 years (The Telegraph £). Marks & Spencer bosses scooped more than £4million each last year after its recovery sparked the biggest pay day for more than a decade (The Daily Mail).

Sainsbury’s boss was paid just under £5million last year – but this was just half of what his Tesco rival got. (The Daily Mail)

The founder of Getir, the grocery delivery app which is exiting the UK with the loss of hundreds of jobs, is at odds with investors over a rescue plan to keep the company afloat. Getir is just weeks away from running out of cash amid shareholder demands to overhaul the governance and leadership of the company. (Sky News)

Analysts at Liberum think that consumers are going to continue pampering their pooches, upgrading their rating of Pets at Home from “hold” to “buy”. The broker expects new innovations to lead to an increase in the frequency of purchases and a rise in revenues. (The Times £)

Consumer spending growth is at its weakest in more than three years as higher council tax bills and the rising cost of broadband and mobile phones eat into household budgets, a report has said. (The Guardian)

Shares in a London-listed vaping company have been suspended because the board cannot provide an “accurate update” on its financial position with the chief executive still under investigation. (The Times £)

Initial public offerings in London’s “Class of 2021” have lost roughly £30 billion in market value since their shares came to market. More than 100 companies were listed on the London Stock Exchange in 2021, including Deliveroo, the takeaway delivery app, in what was a record year for flotations in the City. (The Times £)