One of the world’s biggest oil producers is contemplating a multibillion pound takeover bid for Motor Fuel Group, Britain’s biggest independent petrol station operator. Abu Dhabi National Oil Company is lining up bankers to work on a potential offer for MFG, which has been put up for sale with a price tag of about £5bn. (Sky News)

The founder of Grubhub teamed up with US private equity giant General Atlantic in an audacious attempt to buy back the company he sold to Just Eat Takeaway for $7.3 billion last year. (The Times £)

A leading shareholder in Unilever has come out in support of Nelson Peltz, the activist investor who joined the board of the consumer goods group this week. Flossbach von Storch, a top ten stakeholder in the company, is the first big shareholder to express support for the appointment, which its founder expects to bring “a sense of urgency” to the company board. (The Times £)

Nelson Peltz is facing a backlash over how he bought his £1.4bn stake in Unilever. Sources close to the billionaire confirmed he had been building his 1.5% stake of 37.4m shares in the Dove and Marmite maker since January, using derivatives – meaning he does not own all the underlying shares. (The Daily Mail)

Supermarket giant Sainsbury’s is under fire for declaring a huge rise in dividends – a large chunk of which will go to foreign shareholders – while shoppers and staff struggle with the cost-of-living crisis. (The Daily Mail)

Hut Group boss Matt Moulding faces a shareholder revolt at the online retailer’s annual meeting on Friday over conflict of interest accusations involving one of its directors. (The Daily Mail)

Coca-Cola Hellenic, one of the world’s largest drinks bottlers, is bracing for a revolt against its pay policy this month. (The Daily Mail)

The price of a pint in the UK has increased more than 70% since the 2008 financial crash, hitting £8 for the first time in London as pubs struggle with spiralling inflation (The Financial Times £). The price hikes have been driven by a combination of factors, including inflation and the war in Ukraine (The Guardian).

UK sales of low-alcohol and no-alcohol beers have almost doubled in five years as weaker versions of global brands such as Heineken and Budweiser helped convert drinkers from carbonated soft drinks. (The Financial Times £)

The French spirits group behind Rémy Martin cognac and Cointreau liqueurs yesterday hailed the growing popularity among consumers for higher-quality drinks and spirits after announcing forecast-beating annual sales and profits for the year to March. (The Times £)

Retailers are warning of fragile confidence among shoppers after figures revealed visitor numbers to UK high streets, shopping centres and retail parks last month remained 12.5% down on pre-pandemic levels (The Guardian). The run-up to the Jubilee bank holiday may have prompted more people to go out and spend money on party food and decorations, but figures suggest that shopper numbers remain fragile. (The Times £)

Shoppers are being urged to keep on buying Fairtrade products amid fears of a “race to the bottom” as struggling Britons look for ways to save money during the cost of living crisis. (The Guardian)

A storm of bankruptcies is on the horizon, experts warn. Supply chain issues, spiralling costs and drying up support set to trigger a wave of corporate distress and bankruptcies. (The Telegraph)

Big food’s unhealthy products leave bitter taste for ESG investors as the pandemic puts tackling obesity back in focus as shareholders urge action. The concern is not just that food and beverage makers contribute to social harms like obesity but that they may find themselves on the back foot as governments take a more active approach. (The Financial Times £)

Shareholders will be checking for any update on British American Tobacco’s Russian exit as it reports on its progress so far this year. The business is set to update shareholders on Tuesday, months after the Kremlin launched its war on Ukraine. (The Daily Mail)

The Mail tips Hilton Food Group’s shares, noting that the recent decline is overdone and new investors could also find value at current levels. “Above all, everyone still needs to eat. In a trading update last month, [CEO Philip] Heffer acknowledged that the outlook may be challenging, but remained confident about Hilton’s growth prospects.” (The Daily Mail)

B&M shares look like they could fall further, particularly given warnings about a margin squeeze, writes The FT. Its shares have fallen 36% since the start of the year to a 12-month low. In the longer term, however, the company looks poised to benefit from the rising cost of living. (The Financial Times £)

Soaring costs squeeze farmers’ returns in North American grain belt - fertiliser, diesel, herbicides and other inputs offset revenue from higher food prices. (The Financial Times £)

Trouble ahead as the world food crisis starts to bite, writes David Pilling in the FT. “Instead of lending serious effort to raising domestic yields, too many governments have sought to placate restless urban populations with food imports. Africa is the fastest-growing consumer of wheat even though, outside a few countries including Kenya and South Africa, little is grown on the continent.” (The Financial Times £)

The Guardian looks at how India’s new taste for local whisky is shaking up the global drinks market. Sales of Indian single malts are booming as a new generation sheds old notions about the superiority of imported brands. (The Guardian)