The Guardian puts Sainsbury’s CEO Mike Coupe in the Spotlight with a lengthy interview in which he says he is taking on Aldi and M&S, and the Argos takeover will boost group profits. Coupe adds that the discounters are now on the back foot. “They are under pressure and it’s more challenging for them.”
The Financial Times features news tha Coca-Cola plans to refranchise the African bottling operation after buying a majority stake from AB InBev for $3bn.
MPs are poised to launch an investigation into Britain’s £1bn online shopping VAT fraud crisis after sellers on Amazon and eBay evaded hundreds of millions of pounds in tax in the run-up to Christmas, according to The Guardian.
The Times and The Guardian pick up the warnings from the CBI that Britain’s Brexit deal must meet the needs of all sectors of the economy if the UK is to be successful outside the European Union and that businesses need to enjoy “barrier-free” access to the EU once negotiations have been completed.
The Guardian’s Brexit watch reckons Britain’s vote to leave the EU is finally feeding through to the UK economy, as an analysis shows rising inflation is offsetting brisk trade for businesses.
General Mills quarterly earnings were spoiled by a yoghurt sales slump for its Yoplait brand sending shares at the food giant down 3.5% (The Financial Times).
US chocolate firm Hershey has promoted its chief operating officer Michele Buck to CEO to succeed John P. Bilbrey next March (The Financial Times).
John Lewis has extended its click and collect deadline to Friday to help last-minute Christmas shoppers (The Telegraph).
Sir Philip Green may have to pay £1bn to resolve the problems facing the BHS pension scheme under proposals tabled by MPs, The Guardian writes.
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