Tesco Plc Chief Executive Officer Terry Leahy , who said yesterday he will step down next year, came to dominate the U.K. retail market. He’s leaving the rest of the world and a crowded domestic industry to his successor.
Ocado Ltd., the unprofitable U.K. online grocer, hasn’t received enough orders for all the stock on sale in its initial public offering, a day before the deadline for taking orders expires, according to two people with knowledge of the matter.
Tesco Plc, the largest U.K. retailer, said a decline in domestic sales resumed in the third quarter as shoppers tightened their purse strings and turned toward both discount grocers and more upscale competitors.
The U.K. government will have to increase taxes by as much as 17 percent to cover the cost of a growing elderly population, according to a report co-written by Bank of England policy maker Martin Weale .