Britain's largest retailer said it is looking to 'simplify' its operational structure and said the changes will 'improve efficiency' by removing roles from its biggest stores. Matt Davies, head of Tesco UK and Ireland, said: 'These changes remove complexity and will deliver a simpler, more helpful experience for colleagues and customers.'
Why investors can't get enough of Fundsmith: How City veteran Terry Smith took Buffett-style investing to the top of the fund charts
Fundsmith Equity has developed a considerable fan club of investors and it is not difficult to see why. The fund has returned 266 per cent in a little over seven years. Manager Terry Smith's idea was to deliver a fund with a clearly defined and simple investment philosophy, investing in companies around the world that had the power to turn cash into consistent profits. We look at why it has proved so popular.
FTSE CLOSE: Shares in the big bookies take a hammering; Ocado leaps after it inks Canada deal; pound at $1.39
Online grocer Ocado's shares spiked 28% after it revealed it has struck another international deal. The new agreement to provide its technology to Canadian food retailer Sobeys follows on from its deal with French supermarket giant Group Casino announced in November. Betting firms took a hit on speculation the Government plans to dramatically reduce the maximum stake allowed on fixed-odds gambling machines. The FTSE 100 closed down 15.35 points at 7715.44.
22 secrets you didn't know about Ikea: We stay at its hotel in rural Sweden where it all began - and discover you may no longer need screws to build its flatpack furniture…
We were given rare behind the scenes access to Ikea and visited Älmhult, Sweden, to see its design studios and testing labs, while staying at its only hotel. We discovered robotic testing buttocks, where the wood comes from and why each catalogue cover varies, depending on the country. And yes, meatballs were consumed - but of the moose variety.
Bag some January financial bargains: We reveal the best bank accounts, savings, credit cards and mortgages to switch to
Bargain-hunters are still scouring the shops in the hope of picking up discounted clothes, gadgets and white goods in this month's sales. But banks and other financial institutions are also getting in on the act, launching special deals on a range of products. If you are looking to take out a new current account, savings account, loan, credit card or mortgage
My dad invested £45K of his pension plan in storage pods: he has been offered £60K for them but must pay £16K 'insurance' first! TONY HETHERINGTON investigates
My dad invested £45k of his pension plan in storage pods. He has now been contacted by KB Financial Solutions, which has a website at karelbesta.com, with an offer to buy his pods for £60k. But he needs to pay £16k for insurance which he will get back when the deal goes ahead. I have told him this is a scam and not to send any money.
'I felt a fool losing £500': How fraud and hacking have officially become the number one crime in Britain...
Official figures due out this week will show that fraud and hacking is now the most common crime in England and Wales. Reported cases of fraud are running at a frightening two million a year - with a staggering £2m a day being lost to criminals.MPs on the Public Accounts Committee recently concluded that Government, the financial services industry and the police are failing to keep pace.
In a move to clear a key regulatory hurdle, we understand the broadcaster has offered to make concessions on its highly regarded news channel, such as putting it in the hands of an independent trust. It comes as markets eagerly await updates on the firm's battle against online streaming newcomers such as Netflix and Amazon Prime. Sky - which will publish its half-year results this week - is ramping up spending on its own programmes as part of a fightback against the upstarts.
The RBS chief is also for the first time giving his public backing to The Mail on Sunday's campaign for a body to provide independent redress for entrepreneurs.At present, only the very smallest businesses have access to the Financial Ombudsman Service, and the rest are faced with a black hole in protection. 'I am absolutely in support of your campaign, in principle,' he says.
The zero-emissions hatchback will, Nissan says, travel 50 per cent further, deliver 38 per cent more power, and cost up to £1,500 less than the original. But does it live up to the high-voltage hype? This is the real deal; designed for the real world, less than £30,000, and a smart car that owes much to a new 'pedal power' system.
Should you copy hedge funds and sell Debenhams? Short sellers cleaned up with Carillion... here's who's tipped to topple next
Hedge funds are tipping the share prices of Debenhams, Sainsbury's and pet supplies chain Pets At Home to plummet as the High Street continues its struggle against online competition. They can make hundreds of millions - or even billions - of pounds by betting that the businesses' share prices will fall.
I stuck all my money in cryptocurrency but still don't understand it, says JOE WHITWELL (...and he had to sell his ethereum to buy breakfast)
Joe split his £600 savings between bitcoin, ethereum and litecoin. However, several weeks later and sitting on a loss he still has no idea what they are and how they work. He has a suspicion, though, that he is no more ignorant than the vast majority of people who have been buying into cryptocurrencies in recent months.
'My wife will need to work a further three years due to poor communication of child benefit changes...' A reader asks This is Money columnist Steve Webb how to get lost state pension credits back, and the Government explains why it only backdates them for three months when parents fall into this trap.
How safe is your final salary pension? SIMON LAMBERT on why savers should beware getting spooked and jumping ship
Britain's private pensions were once the envy of the world. Long gone are those days of widespread world-class final salary schemes, but many still have some promises due and they are worth holding on to. The problem is that many people are worried about how safe their company's pledge to pay them is.
Investors have been buoyed recently but markets in which everything seems to be going up, but that doesn't mean that they should not be more choosy about where to put their money in the year ahead. Ben Kumar, of 7IM, discusses the best places to invest for 2018 with Simon Lambert, of This is Money, and Richard Hunter, of Interactive Investor, on the latest Investing Show.
Used car buyers offered new car-style low monthly payments as RAC launches flexible loan that mimics PCP
Used car buyers are to be offered the low monthly payments usually seen on new car finance deals after the RAC launched a flexible loan that mimics PCP deals. Similar to the hugely popular personal contract plan finance used to sell brand new cars, the RAC's Flexiloan offers the chance to put a deposit down and get lower monthly payments over a set period thanks to a larger set deferred final payment.
INVESTMENT CLINIC: Should I buy more of Shell with its 5.7% dividend and what's the difference between A and B shares?
One of the major attractions of Shell is that it pays a good level of income to shareholders. At the moment it is paying 5.7 pence for every £1 invested. Much of Shell's future success is tied to the price of oil, which plummeted to less than $30 (£22) a barrel in 2016 but has since recovered to nearly $70 (£50.80).
THIS IS MONEY'S FIVE OF THE BEST SAVINGS DEALS
Aldermore pays 1.8% interest on its one-year fixed rate account. Interest can be payed monthly or yearly. It requires a minimum deposit of £1,000.
The AA pays a top rate of 1.32% AER on its easy access account. The account comes with a 12-month 1.12% rate bonus so remember to find a better account before the rate drops. Minimum deposit is £100.
Masthaven Bank pays 1.85% AER interest on its 18-month fixed rate savings account. The minimum deposit is £500.
Sainsbury's Bank pays 1.15% AER variable interest on its easy access Cash Isa. The account requires a minimum balance of £500 and comes with no temporary bonus
RCI Bank pays 1.3% AER variable interest on its easy access deal. Deposits in its Freedom Savings Account have no FSCS protection, but you are covered for up to €100,000 by the French equivalent (FGDR).
50 ways to save money: Simple steps to cut what you spend that could clear your debts or seriously boost your savings
To clear the average national household debt of £13,000 at 6% interest with a monthly repayment of £100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious.
The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?
Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home. But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates.
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Climbing house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips
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