Morrisons has struck a £220m “sale and leaseback” deal that will allow it to accelerate the launch of Morrisons Daily, its convenience store chain. The supermarket group has agreed to sell seven of its distribution warehouses to Intermediate Capital Group, the FTSE 100 asset management firm, property agents say. (The Times £)

Rishi Sunak faces a furious backlash from health experts after his government yet again delayed plans for a ban on pre-watershed TV advertising for junk food. (The Guardian)

British American Tobacco has maintained full-year guidance following continued growth in demand for non-tobacco products (Daily Mail). The maker of Camel and Newport cigarettes has warned of a rise in smokers downtrading amid the economic slump, weakening its share price. (The Times £)

DS Smith lent its pension scheme £100 million during the market chaos that followed September’s mini-budget, the packaging company has revealed. (The Times £)

Immigration Minister Robert Jenrick has apologised for any shortages of foreign workers caused by the operation of the seasonal farm worker visa scheme. Former Environment Secretary George Eustice warned “serious problems” with the Home Office’s running of the scheme could prove “catastrophic” for daffodil growers in his Cornish constituency. (The BBC)

The average UK household spent 14.4% of outgoings on food and non-alcoholic drinks in the year to April 2021, up from 10.8% in the previous year, fresh data reveals. (Daily Mail)

A professional stockpicker, Nick Train, lost his army of followers £119m last year as his large investment positions, including in Fevertree, went badly wrong. (The Times £)

Slimming down ice-cream brands could improve slow performance, says The FT’s Lex column. “Jettisoning smaller names in order to focus on leading brands can be part of a healthy and balanced strategy. A slimmer, higher performing business will probably be welcomed by whoever takes over from outgoing chief executive Alan Jope.” (Financial Times £)