Britain's biggest retailer added that new chief executive Dave Lewis will start on Monday - one month earlier than planned - in order to carry out a review of every aspect of the business. "Tesco has shocked the markets by announcing another profits warning, slashing its dividend by 75 per cent and rushing in the new CEO Dave Lewis a month before he was originally due to start," said IG analyst Alistair McCaig. "All this smacks of desperation…
The Ukraine crisis took a new twist on Friday after Russia warned of a "high risk" of disruptions to supplies of Russian gas to Europe as international tensions mounted. "Although markets are trading a touch weaker over the last couple of sessions, they are not reacting as though this was a full on territorial invasion," said Capital Spreads dealer Jonathan Sudaria. "However, Russia has persistently and consistently escalated the conflict but with no clear end objective.
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