Tesco is expected to report a 'horror show' loss of anything between �3billion and �5billion today. The loss would be the biggest in its 97 year history and reflect a seismic shift in shopping habits which has savaged sales and the value of its stores empire.
Shares in Primark owner Associated British Foods (ABF) slumped more than 5pc yesterday after it warned that a weak euro would result in a bigger hit than expected to its bottom line.
Supermarket bosses are facing calls for a competition inquiry after a consumer watchdog accused firms of ripping off shoppers with misleading offers and confusing prices.
As Greece scrambles to secure a financing deal with Europe before running out of cash, the European Central Bank is tightening the vise on the country's ailing banks by curtailing access to desperately needed emergency loans.
The struggling payday lender Wonga will try to distance itself from its damaged reputation by launching different credit products under new brand names.