Former Merrill Lynch banker Jeff Blue is to leave his position as strategic development director at Sports Direct, Britain's biggest sporting goods retailer which has been expanding in continental Europe.
Britain's grocery industry watchdog opened an investigation on Thursday into Tesco's relations with its suppliers, dealing a further blow to the battered reputation of the country's biggest supermarket.
Target on Tuesday named former Tesco executive Mike McNamara as chief information officer to replace Bob DeRodes, who was hired in May to bolster the retailer's cybersecurity following a massive data breach in late 2013.
British retailer Tesco has cleared payouts for former chief executive Phil Clarke and ex-finance chief Laurie McIlwee after its legal team advised there was no basis for continuing to withhold the payments.
Britain's top share index hit a two-week high on Monday, led by Tesco following its upgrade by Morgan Stanley and improving sentiment on growing expectations of further stimulus from the European Central Bank.
The downgrading of Tesco's debt to "junk" status could limit its negotiating power on potential asset sales as Britain's biggest retailer embarks on the long-awaited recovery plan designed to reverse its sliding fortu...