Friday newspaper round-up: Bitcoin, Apple, Woodford, Chappell

The UK’s food regulators are launching nationwide review of all meat cutting plants in the wake of “serious incidents” at 2 Sisters Food Group and Russell Hume. The announcement comes days after the Food Standards Agency was criticised by a committee of MPs for failing to take “definite action” to improve food standards following a Guardian and ITV undercover investigation last year. – Guardian

Bitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history. The slide extended further on Thursday after the Indian government said it would ban all cryptocurrency trading and Facebook announced a ban on digital currency adverts. Bitcoin fell by more than 10%, dropping below $9,000, marking a sharp reverse from its peak of almost $20,000 just before Christmas. – Guardian

Apple has posted the biggest quarterly profit of all time despite a fall in iPhone sales. The world's biggest company posted profits of $20.1bn (£14bn) in the crucial final three months of the year, breaking its own record set two years ago. It came after the release of the £999 iPhone X in November, the biggest update of the handset to date, as well as the release of the iPhone 8 in September. - Telegraph

Troubled doorstop lender Provident Financial is expected to name its acting chairman, Malcolm Le May, as its new chief executive on Friday, after more than five months with no-one in the position. Mr Le May only took up the post of acting chairman in late November, following the sudden death of Manjit Wolstenholme aged 53, prior to which he served as senior independent director. – Telegraph

One of the City’s most prominent fund managers appears to have been wrong-footed by Capita suspending its dividend, having been bullish after a recent meeting with the outsourcing company’s new boss. Woodford Investment Management, which has suffered a series of setbacks on its investments, told its followers a fortnight ago that “with a new chief executive now in place, clearly that eventuality [a dividend cut] cannot be completely ruled out, but having met Jon Lewis [Capita’s boss] during the month, we are reassured that decisions around capital structure and the dividend will be informed by a clearer long-term strategy for the business, something we expect to hear more about”. – The Times

Dominic Chappell, the former owner of BHS, has been issued with a £10 million bill by the Pensions Regulator as officials seek to claw back money for the failed retailer’s pension schemes. The regulator has served a determination notice formally notifying Mr Chappell, a former bankrupt, that it is seeking the money and that he has 28 days to appeal. – The Times