LONDON, April 18 (Reuters) – Tesco, the world’s
No.3 retailer, slashed expansion plans for its main British
business and said it would spend over 1 billion pounds ($1.6
billion) on improving existing stores as it battles to recover
from a shock profit warning.

The group also said on Wednesday it would rein in store
openings at its loss-making U.S. chain Fresh & Easy, pushing
back the moment when it expects that business to break even.

LONDON (Reuters) – Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), the world’s No. 3 retailer, said it would spend 1 billion pounds ($1.6 billion) this year overhauling its underperforming UK business and will rein in expansion as it seeks to win back market share and calm nervous shareholders.

It said on Wednesday that the blueprint to revitalize its most important market, which it conceded was not a radical change of direction, would focus on improving staffing levels, smartening up stores and delivering better prices and product ranges.

LONDON, April 18 (Reuters) – Tesco, the world’s No.
3 retailer, said it would spend 1 billion pounds ($1.6 billion)
this year overhauling its underperforming UK business and will
rein in expansion as it seeks to win back market share and calm
nervous shareholders.

It said on Wednesday that the blueprint to revitalise its
most important market, which it conceded was not a radical
change of direction, would focus on improving staffing levels,
smartening up stores and delivering better prices and product
ranges.

LONDON, Feb 16 (Reuters) – Anglo-Dutch publishing and
events group Reed Elsevier reported a rise in
full-year profit and said it expected cost cutting and small
acquisitions to help generate more growth in an uncertain
economy this year.

“The macroeconomic outlook remains uncertain, but … we
expect to deliver another year of underlying revenue and profit
growth in 2012,” Chief Executive Erik Engstrom said in a
statement on Thursday.

LONDON/NEW YORK (Reuters) – The very public dispute between Captain Francesco Schettino and the owners of his stricken vessel is a symptom of lax regulation and supervision that can only add to pressure for the cruise line industry to be subjected to closer scrutiny.

The mudslinging over who decided the Costa Concordia should sail within 150 metres of the shoreline of an Italian island in a manoeuvre known as a “salute” to show the ship off has exposed wider concerns over how such vast ships should be controlled and how safe they really are.

LONDON (Reuters) – Simple reforms would eliminate much of the risk of investing in poor countries, unleashing billions of dollars of pent up cash and providing a welcome boost to the world economy, a report to be presented at this week’s G20 summit will say.

Tidjane Thiam, charged with pulling together the report, believes world leaders will seize on a plan to spur infrastructure investment in developing countries that includes reform of The World Bank and its regional counterparts but does not tap crisis-weary taxpayers.