The former chief executive of Premier Foods, Gavin Darby, has been awarded a golden handshake worth at least £1.1m from the heavily indebted foodmaker. The package is likely to attract scrutiny given the size of the payout and the fact that the departure had been described by the chief executive as voluntary. (The Financial Times £)

Shares in Ocado fell 7% on Thursday as firefighters continued to battle the effects of a fire that broke out at the online retailer and technology provider’s flagship robot-powered warehouse on Tuesday (The Financial Times £). The Ocado warehouse where fire broke out on Tuesday has been completely destroyed, dealing a blow to the online grocer (The Times £). More than £1bn has been wiped off the value of Ocado after a fire savaged its warehouse in Hampshire on Tuesday night (The Daily Mail).

More than £190m has been wiped off the value of Cranswick as investors took fright at a warning that the costs of the meat supplier’s new £60 million chicken factory and tough trading conditions would hit profits next year (The Times £). Plummeting pig prices and the cost of opening a chicken factory have pushed down profitability at meat processor Cranswick (The Daily Mail). Cranswick, the British chicken and pork processor, said its operating margin would fall in the coming year driven by difficult commercial conditions and the costs of a new poultry factory (The Financial Times £).

Kellogg, the breakfast cereal maker, swung to a loss in the fourth quarter as it grappled with Brexit-planning costs and mark-to-market adjustments that weighed on earnings. (The Financial Times £)

Pernod Ricard chief executive Alexandre Ricard projected calm on Thursday as he presented the French spirits maker’s fastest profit growth in seven years, a performance which should bolster his case in the face-off with activist investor Elliott Management. (The Financial Times £)

The British retail sector had its worst January since 2013 after a tough Christmas trading period. (The Times £)

A decision on budget cuts which could have prevented Ramsgate reopening as a ferry port in the event of a no-deal Brexit has been delayed. (The BBC)

No matter how hard he tries, David Wild, the no-nonsense chief executive of Domino’s Pizza, cannot seem to shake off persistent speculation of rifts with everyone from the group’s franchisees to chairman Stephen Hemsley and a succession of finance directors and other senior executives. (The Times £)

Strong sales at KFC and Taco Bell failed to offset a weak performance from Pizza Hut in the fourth quarter, causing owner Yum Brands to miss Wall Street’s earnings forecasts yesterday. (The Times £)

The company behind the Dunkin’ Donuts and Baskin Robbins ice cream franchises said it should return to growth in its main market this year as efforts to revamp the business show signs of bearing fruit. (The Financial Times £)

Strong sales of 60-year-old doll Barbie and Hot Wheels saw Mattel revenues fall less than feared during the crucial holiday quarter, while the toymaker’s cost cutting efforts helped it to upbeat earnings and improved profit margins. (The Financial Times £)

Russian supermarket chain Magnit said quarterly sales rose by nearly a tenth, which the food retailer hailed as a success for its transformation strategy. (The Financial Times £)

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