Wednesday newspaper round-up: Post Office, Danone, Ryanair

(Sharecast News) - MPs have called in bosses from Fujitsu to answer questions in parliament about the company's role in the Post Office scandal. The Commons business and trade select committee has asked the company to take part in an evidence session in a week's time after an ITV drama helped put the miscarriage of justice back in the spotlight. - Guardian The baby milk seller Danone has agreed to cut the wholesale price of its Aptamil infant powdered formula by 7% from Monday after the UK's competition watchdog launched an investigation into high inflation in the market. The French company, which also owns the Cow & Gate brand, accounts for 71% of the baby formula market in the UK, where manufacturers have been found by the Competition and Markets Authority (CMA) to have raised prices by 25% in two years. - Guardian

Former chancellor George Osborne's family wallpaper and fabric business has blamed inflation and soaring interest rates for a 98pc collapse in its pre-tax profits. Osborne & Little, a wallpaper and fabric business co-founded by the former chancellor's father, saw its pre-tax profits slump to £30,000 in the year to March 31 2023, down from £1.5m the year before. - Telegraph

The Abu Dhabi investor bidding to take over the Telegraph broke promises of editorial independence at the Arabic business channel that it launched in partnership with CNN, it has been claimed. International Media Investments (IMI) is seeking to take control of the Telegraph titles in a bid fronted by Jeff Zucker, the former president of CNN, and has promised to maintain editorial freedoms to secure clearance from the UK government. - The Times

Michael O'Leary, chief executive of Ryanair, has warned that the airline's profits will be hit and passenger fares will rise amid manufacturing woes at Boeing and Airbus. Both manufacturers are struggling to meet demand amid a worldwide shortage of planes. Boeing faces a further problem after a part fell off one of its 737-9 Max aircraft during an Alaska Airlines flight last week, while United Airlines discovered loose bolts on its 737-9 Max aircraft during subsequent inspections. - The Times