Sainsbury’s has unveiled its new city convenience store format which it says delivers “big innovation in small spaces” for local shoppers.

The first store, in Mansion House in London’s Square Mile, is the retailer’s first On The Go store, combining freshly made and prepared in-store food and drink with convenient ways to shop with Sainsbury’s and Argos.

Nine more stores will open across Edinburgh, Glasgow, Bristol and London over the coming months, further testing the new format in city centres.

Sainsbury’s has used data and analytics to design the 2,200sqft Mansion House Local to match the needs of busy city workers with customers able to eat in using perch tables.

A “grab and go” station at the front of the store will offer a range of food to go for breakfast, lunch and afternoon tea.

Customers can shop till-free using the SmartShop mobile app. Argos and Tu clothing Click and Collect are also available.

The format taps into the growing trend for convenient food to go with the Institute of Grocery Distribution (IGD) forecasting the market to be worth £23.4 billion by 2024, up from £18.5bn in 2019, growing by 26.4 per cent.

Graham Biggart, Sainsbury’s director of commercial operations, said: “We’re confident this format will further strengthen our market-leading position in convenience.”

Soaring demand for non-alcoholic lager helped Heineken notch up its best sales performance in a decade as the group's boss prepares to leave the business.

The Dutch beer giant reported an 8.3% jump in sales for its flagship brand in 2019, with double-digit percentage growth for its no-alcohol portfolio as it rolled out its popular Heineken 0.0 tipple to 57 markets worldwide.

Its results come after family-controlled Heineken announced that chairman and chief executive Jean-Francois van Boxmeer is to step down in the summer after nearly 15 years at the helm.

He will be succeeded by Dolf van den Brink, president of Heineken’s Asia-Pacific business, on June 1.

Annual operating profits before one-offs rose 3.9% to £3.4bn) last year, with group revenues 5.2% higher at 23.9bn.

British Gas owner Centrica said chairman Charles Berry has taken leave of absence due to an unexpected medical condition.

Non-executive director Scott Wheway will take on the role on an interim basis until Mr Berry returns. Centrica said it expects Mr Berry to "return to his duties shortly".

It comes as Centrica – which is due to report full-year figures on Thursday – is also searching for a replacement for chief executive Iain Conn, who is stepping down later this year.

Canadian healthcare investment group DRI Capital has announced plans to list its flagship fund in London in a move to raise up to $350m (£270m). DRI Healthcare is expected to float on the London Stock Exchange next month.

The fund buys long-term royalty rights for pharmaceuticals from the inventors, research institutions and companies. DRI aims to use the proceeds from the float to fund acquisitions.

But the group added a note of caution to its expectations as the outbreak of coronavirus, now officially named Covid-19, continues to spread, with fears over a major hit to China and global economic growth.

It said: "It is at this stage not possible to assess the extent and duration of the impact of coronavirus on the economy and on our business."