Here are today's top stories from across the papers:
Wells Fargo boss apologises for scandal
Wells Fargo’s new chief executive apologised yesterday to the bank’s 278,000 workers for the sales-fraud scandal that has engulfed the US bank.
In his first big address to staff, Tim Sloan told an audience of 1,200 workers that resorting trust in the bank “may seem like a long ways off today, but I promise you we will”.
Chipotle struggles to lure back customers
Burrito chain Chipotle Mexican Grill has showed that it has not yet managed to turn the corner from a food-safety crisis that started nearly a year ago, with same-store sales sliding more than forecast in the third quarter. Same-store sales were down 21.9 per cent in the three-month period ending September 30, the company announced after the market closed yesterday.
‘RIP-OFF’ DRUG FIRMS FACE massive fines
Drug companies that raise prices by up to 12,500 per cent face the prospect of fines running to tens of millions of pounds after the Competition and Markets Authority opened an inquiry into claims that they had “ripped off” the NHS.
Government backtracks over apprenticeships
The government has offered an olive branch to employers angry about reforms to apprenticeship funding. The apprenticeship levy, which comes into force in April, will tax large businesses in an effort to force them to invest more in training.
The Daily Telegraph
Brexit fails to dent demand says Pendragon
The prospect of Brexit and the economic uncertainty it is bringing has failed to dampen motorists’ desire for a new set of wheels, according to car dealer Pendragon. Britain’s largest car dealer group used a trading update to report steadily rising profitability on new and secondhand car sales, along with higher margins on servicing vehicles.
WhatsApp users targeted with Sainsbury’s scam
WhatsApp users in the UK are being warned to delete scam messages masquerading as voucher deals that could be worth up to £100.
The Wall Street Journal
Germany Inc. Sits on $500bn in Cash
German companies are sitting on a half-trillion dollars of cash but are reluctant to invest it in their own country, potentially threatening the country’s competitive edge and European economic growth.
AT&T-Time Warner Deal Not About Raising Prices
AT&T is gearing up to roll out a new $35-a-month “mobile-centric” video service next month, chief executive Randall Stephenson said yesterday, pointing to it as an example of how prices won’t rise as a result of the carrier’s $85.4bn (£70.1bn) deal to buy Time Warner .