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In the papers: Chobani, Comcast, GlaxoSmithKline

Published: 09:30 28 Apr 2016 BST

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The Times
I’ll buy back BHS with U.S. cash, says Chappell: Dominic Chappell, the twice-bankrupt former racing driver who owned BHS for only a year before it collapsed into administration, is trying to buy it back with the help of American investors.
Retail sales plunge as shoppers shun clothes and shoes: Retail sales fell at the fastest rate in more than four years this month, adding to concerns that the dominant British services sector is suffering a slowdown.
Carmakers set to motor past British production record: More cars — 5,000 a day — are being produced in Britain than since the collapse of Rover, new data have revealed.
Terrorism and cheap fuel dent Stagecoach’s profits: Shares in Stagecoach fell after it warned that the outlook for its U.K. rail business had become more challenging as a result of terrorism fears, low fuel prices, a slowing economy and weak consumer confidence.
Cobham sacks Directors who made accounting ‘mistakes’: Two senior Directors at Cobham’s wireless division have been dismissed as a result of revenue issues that triggered a £9 million charge against the defence company’s profit this year.
Care home Owner blames living wage for debt talks: The Owner of the country’s largest care home is in talks with investors about restructuring its debt as it reported a 39% drop in profits on the back of what it said was an “extremely challenging” market.
The Independent
U.K. standards of living lag behind European average, Glassdoor finds: Standards of living in Britain lag behind the European average, according to a Glassdoor study. The U.K. comes 10th out of an analysis of 18 European countries, behind Switzerland, Denmark and Germany.
Chobani yoghurt CEO gives 10% of his shares to workers, potentially making them millionaires: Hamdi Ulukaya, Founder and CEO of yoghurt-making company Chobani, is giving back to its employees in a very big way. Approximately 2,000 full time employees will receive a 10% Ownership stake in the company, which sold $1.6 billion worth of yoghurt last year and is now valued at between $3 billion and $5 billion.
Comcast ‘in talks to buy DreamWorks for $3 billion’: Comcast, the parent of Universal Pictures, is in talks to acquire DreamWorks Animation SKG Inc. for more than $3 billion, the Wall Street Journal reported, citing people familiar with the discussions.
Argos-Owner Home Retail reports annual profits down 28% ahead of Sainsbury’s takeover: Argos-Owner Home Retail, which agreed last month to be taken over by British supermarket Sainsbury’s, reported a 28% fall in annual profit on Wednesday, reflecting tough markets and increased investment.
The Daily Telegraph
Federal Reserve leaves door open to June interest rate rise: U.S. interest rates could rise again as soon as this June, the Federal Reserve signalled on Wednesday, as it suggested that risks to the global economy have receded.
Glaxo confounds critics after strong start to the year pushes profits higher: GlaxoSmithKline has cast doubt on calls from some investors for a break-up of the company after sales of new drugs took off in the first quarter, pushing profits higher than expected.
MPs confirm Sir Philip Green will be called over BHS collapse: Sir Philip Green will be called by MPs to give evidence over the collapse of BHS and the retailer’s pensions deficit, the Work and Pensions Committee has confirmed.
Santander’s U.K. profits jump as mortgage lending surges: Santander U.K.’s profits increased by 13% to £532 million in the first quarter of this year as it joined in the mortgage boom and won over more new current account customers.
Brexit could result in high inflation and low growth, warns Mark Carney: Leaving the European Union could result in higher inflation and lower economic growth, Mark Carney, the Bank of England Governor, has warned.
Amec Foster Wheeler reveals new Boss as performance slips: Oil and gas services group Amec Foster Wheeler has appointed Jonathan Lewis as its new Boss, filling the post left by Samir Brikho with an Executive from its U.S. peer Halliburton.
The Guardian
Bank of Japan shocks markets by voting against more stimulus: The Bank of Japan has surprised investors by deciding against any fresh market stimulus despite shocking data that underlined the huge problems facing the country’s economy.
Facebook’s net income triples in first quarter of 2016: Facebook took the occasion of positive first quarter results to announce a plan to consolidate power within the company with CEO and Founder Mark Zuckerberg.
Decline in iPhone sales leads to first revenue decline in 13 years for Apple: Apple shares dropped on Tuesday afternoon after the company reported a nearly 13% fall in quarterly sales, the first time revenue at the world’s most valuable publicly traded company has declined in 13 years.
Brexit would cost U.K. households £2,200 by 2020, says OECD: The head of the west’s leading economics thinktank has accused those campaigning for Britain to leave the European Union of being “delusional” as he warned that departure would cost the average household a month’s salary, £2,200, by the end of the decade.
Daily Mail
Fab lolly manufacturer R&R teams up with Nestle to create new U.K.-based ice cream firm named Froneri: The Yorkshire ice cream maker behind Fab lollies has signed a huge joint venture with Nestle.
Rolls-Royce Boss orders further cost-cutting after internal report found it could make an extra £1 billion if it improved margins: The Boss of Rolls-Royce has told senior Managers to cut costs even more after an internal report found it could make an extra £1billion if it improved margins to match rivals.
Foxtons’ summer fears after booming demand before stamp duty changes came in led to a surge at the start of the year: Estate agent Foxtons has warned it faces a ‘challenging’ summer after booming demand from landlords led to a surge in business at the start of the year.
Beep defect smoke alarm maker Sprue Aegis says jobs are under threat as it sets aside £5.5 million to cover customer claims: The Boss of one of Britain’s biggest smoke alarm manufacturers has warned up to 10% of jobs could be cut as it reels from the fallout of a product malfunction.
Virgin Media to invest £3 billion in bid to connect 4 million more homes to its speedy broadband network: Virgin Media is gearing up to rival BT by rolling out speedy broadband to 4 million more homes and businesses in a £3 billion investment that will create thousands of jobs.
Daily Express
More signs of a tech crash as Apple and Twitter shares plunge: Worse than expected results from Apple and Twitter have heightened that values in some of the world’s biggest tech firms are overinflated.
Do not trust ‘improbable’ claims Brexit would have no benefits to U.K. economy, say experts: The Organisation for Economic Co-operation and Development (OECD) waded into the Brexit debate with scare-mongering statements that used figures based on “improbable assumptions”, according to critics.
Blow for George Osborne as economic growth slows to 0.4%: Britain’s economic growth slowed to 0.4% in the first three months of 2016, official figures revealed.
Asda told to ‘clean up their act’ after shopping deals probe: Asda has agreed to abandon pricing tactics that were feared to have tricked customers into spending more, after an investigation by the competition regulator.
The Scottish Herald
170 Scottish jobs could go at Hargreaves as wind down accelerates: Mine operator Hargreaves Services has said as many as 170 Scottish jobs could be cut by the end of the summer as it accelerates its withdrawal from the thermal coal market.
Tennent’s calls for action to protect Scottish pubs: Lager brand Tennent’s is stepping up pressure on the Scottish Government to protect Scotland’s pub industry ahead of new legislation being introduced in England and Wales next month.
Milder weather and less wind hit profits at ScottishPower Owner Iberdrola: Less wind fuelled a 25% fall in underlying profits to £84 million at ScottishPower’s renewables business in the first three months of the year.
Nairn’s expands its gluten-free production: Oatcake maker Nairn’s is moving its gluten-free factory from Edinburgh to Midlothian in a £6 million investment.
EWM’s quiet retail billionaire looking at BHS: The man who led a management buy-out of Edinburgh Woollen Mill 15 years ago is said to be ready to snap up part of the collapsed BHS store chain.
BPI shares rise on Chinese disposal and trading: British Polythene Industries shares jumped by five% as the group reported a higher than anticipated gain on a disposal in China and stronger than expected trading in the first quarter of the year.
The Scotsman
Jack Daniel’s Owner swallows BenRiach in £285 million deal: Scotch whisky distiller BenRiach is being acquired by the parent company of Jack Daniel’s in a deal worth about £285 million.
Estate agent Coulters and HBJ property arm to merge: Edinburgh-based estate agent Coulters announced that it is to merge with HBJ Property, a division of Scottish law firm HBJ Gateley, as it looks to become a national brand and more than treble its turnover.
Smart antennas firm lands €2 million to target handset giants: An Edinburgh spin-out that develops “smart antennas” for mobile phones has secured almost €2 million (£1.6 million) of European funding.
Devro says U.S. and China plants on track amid steady trading: Sausage skin maker Devro has left its outlook for the year unchanged after trading in line with hopes since the start of 2016.
Scotland’s oil and gas “here to stay” says top industry economist: One of the oil industry’s top economists has claimed oil and gas is “here to stay” and that demand for the fossil fuels will not diminish over the next 25 years.
Brewdog could soon start work on beer themed hotel in Aberdeen: Brewdog could soon begin work on a new beer-themed hotel - dubbed The Kennel - after raising nearly £19 million in their latest Equity for Punks funding campaign.
City A.M.
Discount high street chain launched by Christo Wiese and ex-Asda Boss Andy Bond plots more store openings: Pep&Co, a discount variety chain launched last year by former Asda Boss Andy Bond and Christo Wiese, the South African retail magnate, has announced plans to roll-out more stores this autumn after opening 50 sites in just over 50 days last summer.
LK Bennett sales boosted by online expansion but closure of some weaker U.K. stores dents turnover: LK Bennett, the fashion retailer that counts the Duchess of Cambridge among its fans, said like-for-like sales grew by five% last year after winning over new shoppers through its growing portfolio of stores overseas.
Hilton checks in double profits in the first quarter thanks to tax benefits and higher rooms rates: U.S. hotel group Hilton has reported a sharp increase of 42% in like-for-like earnings per share compared to 2015 in its first quarter.
Top McCarthy & Stone investors sell their shares in £200 million placing: Investors in McCarthy & Stone, the retirement housebuilder, sold 85 million shares in a share placing worth around £200 million.
Vital Ingredient gets a £8 million health kick from Lloyds Banking Group’s private equity arm: LDC, the private equity arm of Lloyds Banking Group, has backed the management buyout of salad chain Vital Ingredient.
Total share price rises as it swings to profit in the first quarter: French energy giant Total swung into profit in the first quarter of this year, partly due to an uptick in refining revenues.
Conforama drops out of the race for Darty, paving the way for Fnac: French furniture chain Conforama has dropped out of the race to buy Darty, leaving the track clear for rival bidder Fnac to takeover the electricals retailer.

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