Supermarket bosses have said they do not expect food prices to fall next year, adding to evidence that inflation will persist through 2024. Food inflation is proving to be among the more stubborn inflationary pressures. (The Times £)

Klarna, the buy now, pay later finance giant, is setting up a new British holding company as it clears the path to a stock market flotation that could value it at more than $15bn (Sky News). Klarna is tweaking its corporate structure in a key step towards a stock market listing that could value the “buy now, pay later” credit provider at upwards of $15bn (The Times £). Buy now, pay later giant Klarna is taking a major step towards a stock market float that could value it at £12bn (The Daily Mail).

Marks & Spencer will open a record number of stores this month as it ramps up its bet on the high street. The retailer said it has spent £80m to open a total of nine stores in November. (The Telegraph £)

A battle for control of historic British department store Selfridges is brewing as the business empire of one of its major shareholders begins to rapidly unravel (The Telegraph £). Selfridges has insisted that it will be business as usual this Christmas despite one of its co-owners facing a cash crunch (The Daily Mail).

Seafood allegedly produced using the forced labour of Uyghur people in China may have been sold at Iceland - and could be on sale now at other British supermarkets, an investigation has found. (Sky News)

Former employees of Wilko have called on MPs to hold the Wilkinson family, which owned the company, to account over the collapse of the budget retailer this year. (The Guardian)

Food retailers have recruited an army of celebrities with internet clout for their festive advertising campaigns as they battle for digital influence this Christmas and try to tap into a burgeoning market for partying at home. (The Guardian)

Britons are forecast to spend more in restaurants and physical retail stores this Christmas, as the sector pins its hopes on a strong ‘golden quarter’. (The Daily Mail)

Retail stocks rallied as City analysts struck a positive note about trading ahead of Christmas. (The Daily Mail)

American meat processor Tyson Foods says it is recalling around 30,000lb (13,608kg) of chicken nuggets, after metal pieces were found in the product. The firm said the voluntary recall is “out of an abundance of caution”. (The BBC)

Will pumpkin spice lattes replace lipsticks as a recession-proof indulgence? It is a reasonable assumption to make, judging by the grande-sized quarterly sales and profit gains Starbucks served up this week. Despite concerns over a slowdown in its two biggest markets, US and China, the coffee group reported an 11% rise in revenue to $9.4bn. (The Financial Times £)

Post-pandemic party’s over as Americans shun cognac. US is the world’s biggest consumer of French brandy but a sharp drop in sales is sobering news for producers. (The Financial Times £)

Your home is full of Tetra Paks – its boss is on a quest to recycle them. Tetra Pak has become a global success, annual sales of €13bn and an estimated valuation of more than €60bn, because its packaging is light and can be shipped flat before it is filled. The trouble for him is that only about half of the firm’s packages across Europe are recycled into their constituent parts. (The Times £)

FT partner Investors’ Chronical advises shareholders to hold Ultimate Products shares. “Retail sales were hit by inventory headwinds, but the company still delivered record results… expansion in Western Europe is something the company is aiming for in the medium- to long-term and we think this is something to watch.” (The Financial Times £)

Japan’s scallop industry seeks safe harbour from China ban. Investors say Beijing’s sanctions could offer an unexpected boost by creating a national champion. (The Financial Times £)