Oil prices climb amid supply fears and shipping attacks; prospect of rate rise weighs on UK housing market – business live
Brent crude heads towards $103 a barrel while Asian shares slide Tesco shares have gained 2.5% in early London trading, making it one of the top risers on the FTSE 100 index. The wider index is down 0.7%, or 76 points, at 10,381. Tesco has turned in another solid set of results, showing it can keep growing even when the wider economy feels uncertain. Sales, profits, and cash generation are all…
Oil prices have climbed to $103 a barrel amid fears of a supply crunch and shipping attacks, as worries about rising interest rates weigh on the UK housing market. Meanwhile, Tesco shares have gained 2.5% in early London trading, becoming one of the top gainers on the FTSE 100 index. The broader index, however, is down 0.7%, or 76 points, at 10,381.
Tesco has reported strong results, indicating its ability to maintain growth even during uncertain economic times. Sales, profits, and cash flow are all heading in the right direction, and high customer satisfaction suggests shoppers appreciate the company's low prices, improved quality, and convenient shopping options. Tesco's growth strategy has increasingly focused on technology, leveraging its extensive customer data (through the Clubcard) and retail media business to effectively target suppliers and personalize offers for consumers. This has helped the retailer deepen customer relationships and maintain its competitive edge.
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