The Co-operative Bank is set to admit that a sale of its business has faltered, increasing the chances that its American hedge fund owners will have to plough more capital into the bank.An announcement expected in the next few days is set to move the loss-making bank into a new phase of trying to thrash out a deal with the hedge funds, which own 80% after a previous restructuring in 2013. (The Times £)

Shares in Premier Foods have climbed after the food manufacturer revealed it had signed a new agreement to make Cadbury cakes for the next five years. Analysts had warned that the company could face an “unmitigated disaster” if it failed to secure an agreement to extend the lucrative licensing deal (The Telegraph). Premier, which also owns Bisto gravy, warned over profits in January and there were concerns Mondelez would not renew its contract - due to expire in June (The Daily Mail)

Commercial terms have not been disclosed, but there is speculation that Premier Foods may have had to increase its royalty fees for use of the Cadbury brand (The Times £). Apart from size, the value of the licence to Premier lies in the rapid growth of Cadbury cake sales compared with many of its other food brands, which include Mr Kipling cakes, Ambrosia puddings and Oxo gravy (The Financial Times £).

Easter provided a “brief period of respite” for UK retailers with healthy sales growth in April, but rising prices are likely to renew the squeeze on the British high street (The Financial Times £). “Grocers are happy bunnies after Easter”, writes The Times (£), “Shoppers are increasing spending once more, defying fears of an economic slowdown”, writes The Telegraph. But Barclaycard and the British Retail Consortium have warned that a spurt in spending in April was the result of the late timing of Easter and said the growing squeeze on incomes meant the underlying trend in high street activity was weak (The Guardian).

David Buttress, who stepped down as chief executive of Just Eat in March because of “urgent family matters”, is to join one of the online food-ordering company’s early investors. Buttress will start next month at 83North, a venture capital firm based in Tel Aviv and London, as general partner (The Financial Times £). “Just Eat former boss returns to corporate life at venture capitalist after surprise resignation,” writes The Daily Mail.

Mike Ashley was at it again yesterday, raising his bet on Debenhams as he took his interest in the department stores group to more than 17%. The billionaire founder of Sports Direct has been increasing the sportswear retailer’s position in Debenhams through a “contracts for differences” arrangement over the past few months. (The Times £).

Adverts for junk food and sweets during TV programmes popular with children would be banned by a Labour government. The ban, part of a proposed childhood obesity crackdown, would affect shows such as The X Factor, Hollyoaks and Britain’s Got Talent. (Sky News)

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