The under-pressure supermarket is trying to regain market share by cutting prices on big brands such as Coca-Cola, Hovis and Marmite.Read the full story ›
The 43 Tesco stores facing closure have not yet been made public but a "significant proportion" will be Tesco Express convenience stores at sites across the country.
New chief executive Dave Lewis has not yet indicated the scale of the job losses at the beleaguered supermarket, with full details set to be known by April.
Employees affected by the closures will be informed over "coming months".
Head office jobs will also see cuts as Tesco cuts overheads by 30%.
Mr Lewis said he understood how the announcement would hit "hard-working people", adding: "I am not immune to the impact of the decisions we have had to take on our colleagues."
Unveiling a raft of measures, Tesco announced the appointment of Halfords Chief Executive Matt Davies as the new boss of its UK and Ireland business.
The supermarket's new CEO Dave Lewis described him as "an experienced retailer with a proven track record of turning around businesses".
He will take up the position on June 1.
A new Ultra Low Emission Zone in London could do more harm than good- according to the London Region of The Federation of Small Businesses. It's concerned that some heavy diesel vehicles could end up paying three charges a day- and is calling for a new and improved scheme to replace the Congestion Charge, Low Emission- and the proposed Ultra Emission Zone.
Sue Terpilowski OBE, London Policy Chair, Federation of Small Businesses, said:
" Congestion in London damages the competitiveness of businesses in the city and the FSB supports a demand based approach in the capital, however, fairness is critical to small businesses who need to compete with their larger counterparts. It is our opinion that these blunt instruments have disproportionate impacts on smaller businesses and that TfL and The Mayor of London should act now before more small businesses are priced out of London."
The new zone- proposed for 2020- intends to improve air quality in the capital and remove from the roads vehicles which contribute disproportionately to air pollution. The public consultation for the zone closes on Friday.
A London First report set to be published this week said pressure from other parts of Britain to reduce immigration was damaging to London’s ability to “stay open for business”.
The report, which will be published this week, also said pressure from other parts of Britain to reduce immigration was damaging to London’s ability to “stay open for business”.
London faces growing competition from alternative hubs, such as Singapore, that are geographically, culturally and linguistically closer to large emerging markets.
National public opinion and hence UK government policy could put pressure on some of the critical underpinnings of London’s [leading position], in particular its openness to immigration and its relationship with the European Union.
A London First report was covered by the FT. It also says that the UK airport capacity and the visa system also need to be improved.
A new report says that the UK's hostility to immigrants and the European Union is threatening the capital's status as one of the world's leading business cities.
The business lobby group London First's briefing, which was commissioned by Mayor Boris Johnson, says that Britain must build relationships with emerging markets like Asia, the FT (£) reports.
A union has branded as "disgraceful" the timing of an announcement that nearly 3,000 workers are facing redundancies over the holidays.
The RMT demanded "urgent talks" with Business Secretary Vince Cable after it was revealed on Christmas Day that parcel delivery group City Link had gone into administration.
City Link, which has 2,727 employees, has operations at Kangley Bridge Road, Eastbury Road and Deer Park Road. The company, with 2,727 employees, called in administrators from professional services firm EY after years of "substantial losses".
The Coventry-based company now expects numerous redundancies after no buyer could be found to bail it out.
A number of staff will be retained to help return parcels to customers and help with winding down the company, EY said.
Customers who had placed parcels with the company on Christmas Eve and intended recipients who have been notified of a failed or pending delivery are urged to retrieve their parcels as soon as possible on or after December 29.
Yachts and powerboats worth millions of pounds have been painstakingly lifted into place ahead of next month's CWM FX London Boat Show at the ExCel.
The 61st annual London Boat show, will run from January 9 - 18.
There will be almost 400 boats on display, including these yachts which were precariously lifted out of the Thames earlier this week by a team of engineers.
A full range of vessels will be on display from £300 boats right up to £4.7million luxury yachts, ranging from a tiny 8ft Ribeye TL240 up to the colossal Sunseeker yacht which measures 92ft.