Price wars among the U.K.'s biggest supermarkets have driven down the cost of food, pushing the growth of the grocery market to a 10-year record low.» Read More
European shares pared gains but closed higher on Thursday, a day after the Federal Reserve surprised markets by opting to maintain its $85 billion-per-month asset purchases.
Consumers are sticking to frugal habits developed in the recession even as developed economies recover, suggesting some changes could be permanent.
European shares closed narrowly higher on Wednesday, having paused after rallying on Tuesday.
Global supermarket chain Tesco plans to launch a tablet device, the Sunday Times newspaper reported on the weekend, with analysts saying a Tesco tablet could prove popular at the cheap end of the market.
Tesco will slash its China exposure by taking just 20 percent of a venture with a state-run company, a deal that underlines the travails foreign retailers have had in the Chinese market.
J Sainsbury, Britain's No. 3 supermarket chain, met forecasts for underlying sales growth in its first quarter, outperforming major rivals.
European shares accelerated losses to close lower on Wednesday, as investors reacted to a string of economic data released for key European countries.
Best Buy's move to exit Europe has many on Wall Street hoping the big box retailer does the same in China.
European shares closed lower on Wednesday on worries about slowing growth and rumors of a credit downgrade for Germany curbing investor sentiment.
U.S. stock index futures were lower Wednesday, pressured by some weaker-than-expected earnings and amid worries over global growth.
Discoveries so far of horsemeat in products sold as beef are likely to be the "tip of the iceberg", a British parliamentary report into the scandal said on Thursday.
Testing has confirmed that beef lasagna produced by food manufacturer Findus contained horsemeat, Britain's Food Standards Agency (FSA) said on Thursday.
Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain's retail chains.
European shares ended mostly flat on Wednesday, bouncing off intraday lows as many investors used the early dip to boost their exposure to equities.
European shares closed narrowly mixed after the European Central Bank and the Bank of England left interest rates unchanged Thursday, while a better-than-expected trade report from China provided support for investor sentiment.
Investors had one eye on the start of the earnings season in the U.S., but strategists said Europe's own earnings season could throw up a few surprises.
European shares finished slightly higher Wednesday following positive comments from China's new leaders.
Foreign retail companies could soon be free to move onto Indian soil after parliament voted to allow foreign direct investment in a fiercely contested debate on Wednesday evening.
Britain's Tesco, the world's No. 3 retailer, has launched a strategic review of its loss-making United States chain Fresh & Easy.