Live updates

Thousands of jobs at risk as B&Q to close 60 stores

One in six B&Q stores is set to close over the next two years, putting thousands of jobs at risk.

Up to 3,000 workers across the UK and Ireland could lose their jobs as a sixth of the retail giant's 360 stores is earmarked for closure amid a struggling DIY market - though B&Q says it is creating around 900 positions as another name in its business family, Screwfix.

ITV News business editor Joel Hills reports:

Advertisement

Tesco faces huge compensation claim from shareholders

Tesco admitted in September 2014 it had overstated its profits. Credit: PA

Tesco is facing a multi-million pound compensation claim from shareholders over last year's accounts scandal.

The supermarket giant’s announcement in September that it materially overstated its profits caused a crash in its share value.

A non-profit organisation under the name Tesco Shareholders Claims Limited said:

A permanent destruction of value has occurred and had the accounting irregularities not taken place the share price, and value of the company, would today be materially higher.

TSC expects the claim to be in the region of 50p-70p per share. Tesco Plc has in excess of 8 billion shares listed.

– Tesco Shareholders Claims Limited

Advertisement

Asda recalls children's Spiderman dress-up suit

A children's Spiderman dress-up suit has been recalled by Asda due to safety fears.

The recalled spiderman suit (pictured) features a logo on the chest which lights up. Credit: Asda/PA Wire

The light-up costume has been taken off shelves across the country after an investigation by the supermarket chain discovered a fault with the battery.

The investigation follows a complaint from Steve Slaughter, who bought the £12.50 outfit for his son Stephen to wear on World Book Day.

Mr Slaughter, from Middlesbrough, complained to Asda earlier this month after the detachable chest piece - containing a battery pack - appeared to blow up and flew across the living room after it was left lying on top of a storage unit.

A spokeswoman for Asda said: "Asda George has issued a recall of its Spiderman light-up dress-up costume. The wrong batteries have been included inside the costume's removable light-up unit resulting in a potential safety issue.

"The care and safety of our customers is our number one priority, which is why we have taken the precautionary decision to recall the product based on the outcome of our investigation."

Customers who have already purchased the costume have been advised to return it and claim a full refund.

Kraft recalls 6.5 million boxes of macaroni and cheese

Kraft Foods is recalling around 6.5 million boxes of original flavor Kraft Macaroni & Cheese because some of them contain small pieces of metal.

The boxes have "best when used by" dates ranging from September 18, 2015 through to October 11, 2015 and are marked with the code "C2".

Kraft is recalling 6.5 million boxes of its macaroni and cheese products. Credit: REUTERS/Jonathan Ernst

They were sold throughout the US, Puerto Rico, and in some countries in the Caribbean and South America.

Kraft Foods Group said it was aware of eight incidents of customers finding metal in the boxes, but that it has not been informed of any injuries.

The firm urged people not to eat the product and instead return it to the shop where it was purchased for a full refund.

Load more updates