Friday newspaper round-up: Volkswagen UK bank, Capita, Gym Group, Apple

Europe’s largest carmaker is looking at opening a British bank to help to fund sales of its cars in the UK after Brexit. Talks with the Bank of England are expected to lead to Volkswagen making a formal application for a banking licence that will allow it for the first time to take savers’ money. - The Times

Hundreds of trainee GPs have not received their salaries from the outsourcing company responsible for paying them, forcing some to turn to charities for emergency funds. Some GPs have been unable to cover their mortgages because of the delays by Capita, which holds a contract to administer training grants for GPs through a body called Primary Care Services England. - Guardian

All the main suppliers of trains to Britain’s railways have been shortlisted to build the fastest and most prestigious carriages on the UK network. The bidding process to supply the £2.75 billion, 225mph trains for HS2 has included a wild-card bid from Patentes Talgo, the Spanish high-speed manufacturer that has no rolling stock operating in the UK or any facilities in the country. High Speed Two, the government agency charged with delivering the £55 billion London-Birmingham-Manchester-Leeds project, announced a shortlist of five: Bombardier Transportation, Hitachi Rail Europe, Alstom Transport, Siemens and Patentes Talgo. - The Times

Apple expects record sales of iPhones in the run-up to Christmas, and dismissed any talk of weaker demand for its iPhone 8 models saying they "instantly became out top 2 selling products" on release. The update sent Apple shares to an all-time-high in after hours trading, up 3.2pc, taking its market capitalisation above $900bn (£670bn) for the first time. - Telegraph

The controversy over workers being being pushed into “dubious” self-employment has been reignited, with a parliamentary committee accusing a leisure group of “egregious” use of such contracts. On Thursday, parliament’s work and pensions committee said it had written to The Gym Group, an operator of 89 “low-cost” UK gyms, questioning why its contracts classify its personal trainers as self-employed when it places restrictions on what they can charge clients and when they can take holidays. - Guardian

Oleg Deripaska’s En+ Group has met scepticism among investors, leading to a London stock market debut at the bottom end of its price range. The aluminium and hydro-electricity producer will be priced at $14 per global depository receipt, valuing the business at $7 billion and raising $1 billion. - The Times

Argos is opening two new regional warehouses and creating 500 new jobs as it gears up to expand its same-day delivery service in time for Christmas. The former catalogue retailer, which was bought by Sainsbury’s last year in a bid an attempt to up its digital defences against Amazon, has opened two regional fulfillment centres in Birmingham and Reading. - Telegraph

Telit Communications, the troubled UK tech company, is the subject of enquiries from the financial regulator over its departed chief executive. The Aim-listed firm, whose shares had already fallen 42.5 per cent so far this year, dropped a further 2 per cent after it confirmed the Financial Conduct Authority was looking into “various matters which were of concern”. - The Times

Tesco executives stalled for more than a fortnight before telling their new boss about a £246m black hole in the company accounts, a court heard. Giving evidence in the trial of directors Carl Rogberg, 50, Chris Bush, 51, and John Scouler, 49, who face charges of fraud and false accounting, chief executive Dave Lewis said that once he was made aware of the shortage on September 19, 2014, it was ‘very important’ for the matter to be looked into quickly. - Daily Mail

Virgin Media, the cable operator owned by Liberty Global, signed up nearly 150,000 new UK households to its cable network during the third quarter as it sought to accelerate an expansion drive that had fallen behind schedule earlier this year. Virgin Media said its cable network now reached a total of more than 14.7 million UK homes and businesses, an increase of 147,000 on the previous quarter. - The Times

Ferrari is on course to rake in a record €1bn (£766m) profit this year as the world’s wealthy buy more supercars than ever before. Sergio Marchionne, the company’s chief executive, said on Thursday that Ferrari’s adjusted profits for the first nine months of 2017 were up 24% and that the firm was on track to meet its target of €1bn annual profit two years ahead of target. - Guardian