A former chief executive of Coty has been drafted in to help Apollo Global Management draw up a firm offer for THG, the London-listed health and beauty retailer. Apollo has enlisted Camillo Pane and Tony Buffin, a former CEO of the health foods chain Holland & Barrett, to advise on its interest in THG, with a bid expected before 15 May. (Sky News)

Starbucks Corporation beat Wall Street estimates for quarterly comparable sales last night, boosted by a sharp recovery in business in China and steady demand for its coffees and cold drinks in North America (The Times £). Starbucks said sales growth was moderating after China’s reopening, sending shares lower in after-hours trading as chief executive Laxman Narasimhan presented the coffee chain’s results for the first time since taking over from Howard Schultz (Financial Times £)

Is Starbucks a fintech in disguise, asks the FT. Thanks to caffeine addicts, the US-based coffee shop chain’s hugely popular rewards programme held $1.8bn in customer cash. If Starbucks was a bank, that would make it bigger than 90% of institutions covered by the US Federal Deposit Insurance Corporation by deposit size. (Financial Times £)

Ocado shareholders gave it a bloody nose over the boss’s £2m pay packet yesterday. (Daily Mail)

It may not have run out of beer, but a cashflow shortage has left the Black Sheep Brewery in Yorkshire on the brink of calling time. The plant in Masham, which employs about 50 people, has filed a notice of its intention to appoint administrators after failing to attract new funding. (The Times £)

Uber, the company behind the app for ride hailing and food deliveries, has enjoyed a 29% surge in revenues but still remains stubbornly in the red. (The Times £)

Duchy Organic sales are on the rise ahead of King Charles III’s Coronation this Saturday, giving Waitrose a much-needed boost. (Daily Mail)

The early May bank holiday provided some much-needed respite for Britain’s retailers after a tough few months in which cost of living pressures weighed heavily on spending. (The Times £)

Prezzo, the high street restaurant chain, is bracing for a court showdown with landlords over the closure of a third of its sites. (Sky News)

The chief executive of Greene King said it is starting to see an easing of some cost pressures and hopes the trend will continue as the hospitality industry gets into gear for the summer. (Sky News)

Six Cadbury-branded desserts including Flake and Crunchie chocolate desserts have been recalled by their manufacturer over fears they could be contaminated with listeria. (The Guardian)

The Times’ Tempus column recommends the shares of FTSE 100 packaging firm DS Smith, noting: “Given the fragmented nature of the packaging industry and increased demand for more sustainable solutions, there’s even a chance that DS Smith gets taken over itself.” (The Times £)