Tesco is set to respond to Asda’s price-cutting strategy as it reports full-year results. While Asda aims to reclaim market share with lower prices, analysts question its sustainability. Tesco, with a strong balance sheet, expects steady growth despite rising costs.
Tesco is poised to address the pricing challenge posed by rival Asda when it reports its full-year results on Thursday. Asda, the UK’s third-largest grocer, recently announced a strategy to cut prices to reclaim lost market share, even if it means sacrificing profits. However, many analysts are sceptical about Asda's ability to sustain a price war, citing rising prices in the UK grocery market and questioning whether its majority owner, TDR Capital, will provide enough financial backing.
In contrast, Tesco and its close competitor Sainsbury's both have stronger balance sheets, positioning them to better weather the pricing storm. Tesco's market share has remained robust, with the latest data showing a 27.9% slice of the UK grocery market, a slight increase from the previous year. Analysts believe Tesco, along with discount chain Aldi, has a solid strategy in terms of price perception and doesn't need to react aggressively to Asda’s move.
For the year to February 2025, Tesco expects a retail adjusted operating profit of around £2.9 billion, reflecting steady growth despite rising operational costs. Analysts predict continued growth for Tesco in 2025/26, even as market pressures mount.
Doctors Without Borders (MSF) reported on Monday that six children in the Samos migrant camp in Greece are suffering from acute malnutrition, spotlighting worsening humanitarian conditions in the EU-funded facility.
Bangladesh’s interim head, Muhammad Yunus, has written to U.S. President Donald Trump requesting a three-month delay on a 37% tariff on imports, emphasizing efforts to boost imports from the U.S.
European Union trade ministers voiced strong support on Monday for launching negotiations with Washington to defuse escalating trade tensions, while also preparing targeted countermeasures against U.S. tariffs.
Arsenal manager Mikel Arteta says his side must believe they can make history as they prepare to face Real Madrid in the Champions League quarter-final at the Emirates on Tuesday.
The Philippine government has imposed a temporary ban on importing both wild and domestic birds from Belgium after an outbreak of highly pathogenic avian influenza (H5N1) was confirmed in the city of Sint-Niklaas. The Department of Agriculture announced the suspension on Monday, citing the need to p
Doctors Without Borders (MSF) reported on Monday that six children in the Samos migrant camp in Greece are suffering from acute malnutrition, spotlighting worsening humanitarian conditions in the EU-funded facility.
Afghanistan and Turkmenistan officials visited the TAPI pipeline site in Herat, reaffirming commitment to the key regional energy project. The pipeline will deliver Turkmen gas to India via Afghanistan and Pakistan, with efforts now focused on accelerating construction.
PACE's Spring session opens in Strasbourg with Georgia’s delegation under scrutiny. A key decision on April 10 may determine whether Georgia retains full representation—or joins Azerbaijan with restricted rights in the Assembly.
Bangladesh’s interim head, Muhammad Yunus, has written to U.S. President Donald Trump requesting a three-month delay on a 37% tariff on imports, emphasizing efforts to boost imports from the U.S.
European Union trade ministers voiced strong support on Monday for launching negotiations with Washington to defuse escalating trade tensions, while also preparing targeted countermeasures against U.S. tariffs.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
The inaugural Samarkand International Climate Forum will kick off on 4th April at the Silk Road Samarkand Congress Center in Uzbekistan. The high-profile forum will be held under the theme "Central Asia Facing Global Climate Challenges: Consolidation for Shared Prosperity."
The first-ever summit between the European Union (EU) and the five Central Asian nations—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan - began today in Samarkand, Uzbekistan.
President Trump’s new tariffs hit 185 countries, with Kazakhstan facing the highest rate at 27%. Kazakhstan now seeks talks with U.S. officials to ease the impact.
The U.S. has pressured Lebanon to act against Hezbollah, urging the Lebanese Armed Forces (LAF) to enforce a ceasefire. The LAF, caught between U.S. demands and Hezbollah’s influence, risks losing vital U.S. support if it fails to act.
Canada has requested WTO dispute consultations with the United States regarding President Donald Trump's decision to impose a 25% tariff on cars and car parts from Canada, the World Trade Organization announced on Monday.
Global stock markets experienced a dramatic sell-off on Monday as investors reacted to the latest surge in US tariffs, raising fears of a potential global economic slowdown. European and Asian shares plummeted sharply, while US futures signaled the risk of a bear market, and oil prices also slid.
Chinese battery giant CATL is in talks to acquire a controlling stake in Nio’s power unit, which operates over 3,000 battery swapping stations across China. This deal highlights Nio's efforts to strengthen its position in the competitive EV market and expand its charging infrastructure.
Ongoing uncertainty surrounding US President Donald Trump's tariff strategy has driven Bitcoin's value below the $75,000 mark on Monday.
Wikimedia Foundation has appealed an Indian court ruling that ordered the removal of allegedly defamatory content about ANI. This follows ANI's lawsuit over a Wikipedia description labelling it a "government propaganda tool", highlighting tensions in content regulation.
Doctors Without Borders (MSF) reported on Monday that six children in the Samos migrant camp in Greece are suffering from acute malnutrition, spotlighting worsening humanitarian conditions in the EU-funded facility.
Afghanistan and Turkmenistan officials visited the TAPI pipeline site in Herat, reaffirming commitment to the key regional energy project. The pipeline will deliver Turkmen gas to India via Afghanistan and Pakistan, with efforts now focused on accelerating construction.
PACE's Spring session opens in Strasbourg with Georgia’s delegation under scrutiny. A key decision on April 10 may determine whether Georgia retains full representation—or joins Azerbaijan with restricted rights in the Assembly.
Bangladesh’s interim head, Muhammad Yunus, has written to U.S. President Donald Trump requesting a three-month delay on a 37% tariff on imports, emphasizing efforts to boost imports from the U.S.
European Union trade ministers voiced strong support on Monday for launching negotiations with Washington to defuse escalating trade tensions, while also preparing targeted countermeasures against U.S. tariffs.
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