he was with unilever before joining tesco.ctrum. sorry, 20% right across the spectrum for small and all physical shops. in some of these online people should pay a 2% turnover on all their trade. i think you have to start that way. is. absolutely. let us talk about the daily telegraph. best before revolution to target £20 billion with a food waste. £20 billion worth of food waste. it is shocking we have food waste. it is disgraceful in many ways. this whole best before, ebay, due date, et cetera. we to follow these days. —— eat by. it is because we have these terrible things where you have to be so careful, but on the other side of the coin is, surely when you talk about these food banks, until such time as we have sorted this area out this is absolutely... consumers to be offered smaller portions as well. we can buy the amount of food we actually need, as opposed to a huge amountand actually need, as opposed to a huge amount and therefore you throw half of it out. exactly right. again, it is just of it out. exactly right. aga

dave lewis, head of tesco, calling for a 296 lewis, head of tesco, calling for a 2% levy on online retailon business rates. and it is notjust for tesco he wants the reduction of business rates. all bricks and mortar retailers, he says they are pushed to breaking point and has written an article in the daily mail today as part of their campaign. they are calling for notjust reform of business rates but also a fairer tax system. the high street is finished at the moment, and the one near where i live, richmond, there are empty shops in there. even somewhere as affluent as richmond. completely, there are empty shops and a lot of charity shops. that is awful. is it? it is unfair because the internet giants that are selling us the internet giants that are selling us stuff don't pay taxes the way we pay taxes at this country. but you can turn up and buy stuff. pay taxes at this country. but you can turn up and buy stufflj pay taxes at this country. but you can turn up and buy stuff. i can't, because i am six foot four with a six foot six wingspan and size 13 feet, i get laughed at, i tell you!

have to remember that shops like co—op have seen good growth and although being squeezed, we know tesco supermarkets rather than in other stores on the high street? what does it indicate? it is an indicator of uncertainty. there are a few things to think about, with the uncertainty in the country, what cycle wallet fragility with people less willing to take risks and more willing to search out value and the way i do that is by cheaper products oi’ way i do that is by cheaper products or go to cheaper supermarkets. growth is down on last year, because we had a fantastic may last year with event television and royal weddings in football, whereas this year we have not had the weather and events. if i were a grocer i would think i was well—placed because we have the cricket world cup, two football finals with british interest, the netball world cup in july and wimbledon so plenty of things for retailers to hang their hat on and try to get the spend back into the store and occasions. thank you very much. there is plenty more updated throughout the day on the business live web page and on the

compete with them but those are trying to compete with them and are heading in the same direction, tesco they will compete in this fashion, so they are moving in the same direction and if they are moving in that direction, they would like the tax base, i suspect, to be the same. richard dunbar, thank you. what is your favourite takeaway? sandwiches. that is it for another business life. we will see you another day. bye—bye. —— business live. good morning. yesterday was a warm and sunny was a warm and sunny day for many others, temperatures got up to the low 20s northern parts of scotland. 0ver low 20s northern parts of scotland. over the next few days, we will see the temperatures rise and so by wednesday, probably the warmest day of this week, with lots more sunshine to come. this is the satellite imagery through this morning, you can see barely a cloud in the sky across the uk, we have some of this cloud towards the north—west, high—level cirrus cloud and it is making the sunshine hazy through this morning and by this afternoon, we could see some fair weather cumulus cloud developing b

dug up the chief executive of tesco is the un secretary—general‘s champion on this.uine pledge they can sign up to, and the retailers are pledge they can sign up to, and the retailers a re best pledge they can sign up to, and the retailers are best placed to help their customers manage their food better, because 70% of food waste is in the household. so that is where a mixture of education but also direct contact with consumers will really help. so education is the job of businesses, not the government tumour i think they are best connected to consumers. we have tried to do education, but the purchase point, putting your spuds ina cupboard purchase point, putting your spuds in a cupboard instead of the fridge will extend their life. at too. in a cupboard instead of the fridge will extend their life. at toolj keep mine in the freezer! that also works. domestic tips here, but the bigger picture, there are things we all as individuals do, but what about that point about food waste collection services, why isn't that happening? we have consulted on that, the consultation

the daily mail leads with comments made by the boss of supermarket giant tesco who has called on internetr struggling high street shops. dave lewis warned that the ‘unsustainable' business rates system was pushing bricks—and—mortar retailers across the country to breaking point. 0n the front of the telegraph, consumers are to be offered smaller food portions and big discounts on food sold after its ‘best before. dates in a food waste revolution aimed at slashing the amount shoppers throw away. and finally its was a fantastic night at the bafta's for the creators and actors in the hit tv series killing eve. the bbc thriller scooped three trophies including best actress

my own firm tesco have put that forward. only a piece of it.n visit and shop. i think thatis they can visit and shop. i think that is an important role for government and business working together in the future because many of our high streets look very sad at present. he also spoke on one of your otherjobs as chairman of tesco. given everything you have said about competition we know that last week the merger between sainsbury and asda was blocked because they said that would affect competition. what do you make of that? you must have breathed a sigh of relief. it was not unexpected. they had indicated in the preliminary findings that that was likely to be the result but, you know, sainsbury and asda are fine competitors and we look forward to continuing to compete with them. the customer benefit, because in the uk we have a competitive supermarket market. thank you for your thoughts on all of that. john allen, and chairman of tesco. more drawings from me after eight 0'clock. thank you everybody who has been sending me drawings as well. after

patriotic about you or what have they got to be patriotic about well what had just heard to chime in tescoay is that you oppose built on come on values and those 5 years are telegrams and being open minded and cooperating with one another and the past i would be taken if nationalist parties would gain more seats in the european parliament would be that of isolationism not only from country to country about us so from europe towards to weld and that is something that represents a great then for the common values that are does appear out. that's also very good but the vast majority of according to the figures the vast majority of european voters european citizens believe the system is broken the muse going to disappear within the next venue this this is a must it's crisis for us there are i think and also rightly so a lot of people are disappointed by europe to see by europe you seen friends for example farmers there's one farmer every 3 days which commits suicide because they can no longer have a viable. viola viola bill sorry. work project and that is because of a lot of european directive

tesco bank is getting out of the mortgage business. its existing mortgage portfolio. existing customers won't be affected. metro bank is holding its annual shareholder meeting today. there's a lot to talk about, not much of it very cheerful. its market value fell by more than £1.5 billion after admitting underestimating how risky some of the loans it made actually turned out to be. we're joined now by the banking analyst frances coppola. thanks forjoining us. how did the banquette into this mess? thanks forjoining us. how did the banquette into this mess7m miscalculated how risky quite a few of its looms were. thanks have to have capital to their loans and how much capital they have to have depends on how risky these loans are. the bank underestimated that so therefore ended up with not enough capital so the bank of england told that it had to build up its capital buffers. it's not done that, raising another 375 million from shareholders in the last week. the bank of england says it now does have enough capital to keep going, so the im

have to remember shops like co—op have seen good growth and indeed, although being squeezed, we know tescocountry, at least what i call wallet fragility, so people are less willing to take risks and more willing to search out value and the way i can do that is by cheaper products or go to cheaper supermarkets as well. growth is down on last year and that‘s mainly due because we had a fantastic may last year with event television, royal weddings and football. whereas this year, we‘ve not had the weather and we‘ve not had those events. but if i were a grocer, i would be thinking i‘m well—placed because we‘ve got the cricket world cup coming up, we‘ve got two football finals with british interest. we‘ve got the netball world cup injuly as well as wimbledon. so there‘s plenty of things for retailers to hang their hats on to try and get that discretionary spend back into store and into occasions. staying on the theme of shopping, and the prices we pay at the shops have been climbing at close to their highest rate in six years. so—called shop price inflation rose at 0.8% in may compared with 0.4

they are still, both, even together come in the shadow of tesco which is the market leader.ly, with the uncertainty, there isa firstly, with the uncertainty, there is a sense of wallet fragility, people are less willing to take risks. their way to do that is to buy cheaper products ago to cheaper supermarkets. it‘s down on last year, mainly due to a fantastic may last year with the royal wedding on the football. this year we‘ve not had the weather all the events. if i we re had the weather all the events. if i were a grocer i‘d be thinking about the cricket world cup coming up, the football finals with british interest and the netball world cup injuly as interest and the netball world cup in july as well as interest and the netball world cup injuly as well as wimbledon. plenty of things for retailers to hang their hats on and get a discretionary spend back into stores. let's talk about huawei now, you mentioned them in the headlines and they are fighting back after a lot of pressure put on them. yes, this is an allegation that they are being used as a vehicle for spying. the

boots, tesco, sainsbury's, holland and barrett, most of the mainstream supermarkets.rted this you were 25? very successful. five years on, has it been an issue when you've gone for funding or help or investment, a people looked and thought, forget it? it's really interesting. when i go for meetings with potential investors and i'm fundraising at the moment, i go by myself and i'm not daunted by the fact that i am young and i'm a woman and everyone asks me has that been a barrier? i don't think it has. i think actually people think you are very entrepreneurial and they love the story, it is a genuine story and authentic. what advice do you have for any young female or male entrepreneur or would—be entrepreneurs out there who want to start their own business? what is the key thing you take with you?” would say be passionate about the product, it becomes your life, it's all encompassing and if you don't love the product that could be very challenging, because this is my life, this is howl challenging, because this is my life, this is how i have to eat and so it's everyth

fighting hard on many fronts — trying to compete against aggressive low—price rivals and a resurgent tescoce debt and maintain dividend payments to shareholders.0nce you include restructuring costs and a £46 million hit on the failed deal with asda, statutory profits were down one—third to £219 million for the year to march — a tiny number for a company that has annual sales of £32 billion. joining me live now is clare bailey, independent retail expert and founder of retailchampion.co.uk. counting the cost foreseen bodies of this failed bid to merge with its rival asda. did it surprise you that it cost that much? yes, it is a lot of cost but it was a huge project and something of a gamble, i was surprised by the ruling on this because the whole purpose of the proposed merger was to allow both plans to become more competitive on price, to then reading the markets share they have been losing over the yea rs share they have been losing over the years to audi and little. so now they need another strut —— strategy, perhaps improving stores, stores without tails being trialled in london in parti

archie harrison mount batten windsor archie but a great name hospitals every tesco's also joining in on the celebration. get a look at this this is sutter health sky, california pacific medical centers. van s campus the hospital staff crown these little newborns with crocheted golden had pieces that look like crash pounds a nurse there chris, shade the crown she's been making beanies for hospital newborns for the past 7 years. and the news baby giraffe at woodland park zoo in seattle has a pair of 3rd punic shoes. the giraffe was born last thursday to mama libya hasn't been names so maybe the our chief but soon after being born zoo workers realize little guy's legs were aligned properly, poor guy now he has some special cast to help try to keep them upright right now you're looking at a herd of sheep. they are heading to a primary school a french farmer showed up to the school about 50 of the shifa even symbolically and rolled 15 of them into the school this was protest to the potential closure of classes at the school do too. low enrollment. the farmer thought this was a pretty solu

and those above them, such as tesco and those beneath them such as lidl. with prices, now they have lost the ability to do that and have lost the ability to do that and have to find other ways to show that they can compete. it will take a lot of investment, cost—cutting, but again that may take years. lets talk again that may take years. lets talk a little bit about kingfisher. i was quite interested in this idea of bm.) moving into smaller stores. is that an answer? does it work in the hardware store business?” an answer? does it work in the hardware store business? i think it is important that they look at alternatives, because the simple fa ct of alternatives, because the simple fact of the matter is that the high street has changed recently and megastores are taking a big hit as a result. maybe people getting in the ca rs result. maybe people getting in the cars and completing trips over the course of the day, they have to look at alternatives. it seems that b&q... at alternatives. it seems that 8&0... i at alternatives. it seems that 8&0. .. i think a

and tesco effect on friday and time just cancel of the mean when they say you know no one backs. who is on what you know back in court from baby oh yeah will not be so i think this all results, i've been saying that for about 2 years now and um i throw that out there maybe i'm wrong and maybe does get worse, but um i think in the end we want china scratch your back and we'll scratch, theirs, i'm a bill that was a chinese back scratcher but have to pay extra for ter-orist. well this speaking of investing want to talk a bit about warren buffett happens he just had his. >>a conference call. brought up talks of succession who manages berkshire hathaway if it's not him. well first and foremost time he's 88 89 the summer his greatest investor of all time if you want to learn basketball star michael jordan who investing not me in the street, a man warren buffett. >>he's got a shareholder meeting every year and his home town and it's fascinating to hear what he says first he says stocks look cheap, especially at low interest rates has not seen the markets, crazy. next he says we buy back

am delighted that today the leader of the opposition has also joined this government, the nfu, and tescohings... we will keep an eye on that debate for you which is scheduled to go on for quite a bit with michael gove still on his feet but we will keep an eye on his feet but we will keep an eye on it. suzanne it will bring us the business news in moment but first the headlines. south african olympic champion caster semenya loses a landmark case against athletics‘ governing body over restricting testosterone levels in female runners. the wikilea ks co—founder julian assange is sentenced to 50 weeks injail for breaching bail conditions. venezuelan opposition leader, juan guaido, calls for another massive protest to unseat the president, but nicolas maduro remains defiant. here‘s your business headlines on afternoon live. free—to—use cash machines have been disappearing at a rapid rate across the uk, according to a new study. nearly 1,700 machines started charging for withdrawals in the first three months of the year, with the majority starting to charge in march, according to the consumer

retailers, including tesco and sainsburys, have signed up to a new government scheme, which is voluntaryerywhere, but this compa ny‘s is food waste, it is everywhere, but this company's is trying to cut back. wetherspoons is now offering customers smaller portions of its most popular dishes. takes a simple idea. if you want less food, a small plate means you are less lightly to waste it. i know which one i am having. the small haddock and chips, that was just right. if i had a having. the small haddock and chips, that wasjust right. if i had a big one, i would that wasjust right. if i had a big one, iwould have that wasjust right. if i had a big one, i would have left a lot. you are going to leave all of that? yes, i don't eat chips. it all adds up. the uk currently waste just over 10 million tonnes of food a year. the majority of that some 7 million tonnes, is down to what households throw away. the rest of the waste comes from across our food supply chain, from farms and manufacturers to retailers. a lot of it is perfectly edible. this national charity take some of that surplus food to

only a handful of companies, reckitt benckiser, a tesco unit and g4s, are paying more than men. mostly paying men more than women. one of the big problems, lesser presentation of women at the higher levels of companies, which have higher salaries. and at the highest level, dropped to five. and i spoke to one, allison cooper of imperial brands, and asked her why that number is shrinking. >> there is not a quick fix to this. it will take time to bring people through businesses, to develop them through businesses, and we are seeing improvements as we work through management layers. it takes a lot effort, but we have a significant focus on diversity and inclusion to try to improve, particularly at lower levels of the organization. we have got some better performances, but we need to move that up through the business. >> allison cooper of imperial bands -- brands, speaking to me last week, one of the few ftse 100 women ceo's. today we will discuss this all throughout bloomberg. you can see the amazing lineup of guests. treasurygan, the u.k. select committee chair, and more . manus: a

tesco bank is getting out of the mortgage business.isky some of the loan actually were. this had a familiar ring to it! there is a lot of scrutiny of the way these banks are run. and what happened was there were worries about just how healthy happened was there were worries aboutjust how healthy the bank‘s finances where and in turn, that impacted the share price of the company. about £1.5 billion was wiped off the value of the company. but it is important to emphasise that the bank says that nobody, no customer‘s accounts were ever at risk and it has in fact secured £375 million in extra funding. so the immediate crisis is over, but according to the banking analyst frances coppola, there could be a longer term problem. banks have to have capital to back their loans and how much have capital they have to have depends on how risky those loans are, the bank underestimated that and therefore ended up with not enough capital. so the bank of england held it it had to build up its capital buffers. it has now done that, it has raised another

we have to remember that other shops have seen good growth, and also being squeezed, we know that tescoalue, and the way to do that is either by cheaper products or go to cheaper supermarkets as well. growth is down on last year and that‘s mainly due to the fact we had a fantastic may last year with the royal weddings and football, whereas this year we have not had that whether or that events, but we have got the cricket world cup coming up, we have got two football finals with british interest, the netball world cup in july as well as wimbledon, so plenty of things for retailers to hang their hats on to try and get that discretionary spend back into store and into occasions. the chinese telecoms giant huawei claims billions of consumers will lose out after the uk put the firm on a trade blacklist. washington has moved to block the chinese company, the world‘s largest maker of telecoms equipment, on national security concerns. the trade ban is part of a wider battle between the us and huawei. but huawei has repeatedly denied claims the use of its products presents security risks, and sa

tesco bank is stopping new mortgage lending and is looking for ways to sell its existing mortgage portfolioire looks like it is on the brink of collapse. the latest news is that the chain is preparing to call in administrators. these include 23 of jamie's italian restaurants, barbecue and 15. administrators are being appointed to handle the insolvency process. the group has beenin insolvency process. the group has been in trouble, dropping consumer confidence, difficulty on the high street has had a number of big—name chains. it has been looking for buyers in recent months. the latest we have is thatjamie has said i am deeply saddened by this outcome and would like to thank all the staff and suppliers who put their hearts and suppliers who put their hearts and souls into this business over the last decade. that latest is that jamie oliver's restaurant empire is calling in the administrators and looks like it is on brink of collapse. more on that story throughout the afternoon here on bbc news. chinese telecoms giant huawei has been given some relief after the us announced it's delaying impo

the daily mail leads with an interview with the head of tesco, dave lewis, who has told the paper that to help fund struggling high street shops. there is also a picture of baby archie's feet which was posted by the duchess of sussex this weekend to mark mother's day in the us. shadow brexit secretary sir keir starmer has told the guardian that any cross—party brexit deal that fails to include a referendum will not pass through parliament. sir keir added that his party could end the talks with the government within days if it becomes clear no improved offer is forthcoming from the prime minister. the headline in the express is the shock rise in heart disease deaths. the paper says the british heart foundation blames diabetes, obesity and high blood pressure. there is also a picture of keeley hawes at the baftas. yemen's "forgotten" civil war is the lead in the mirror. it says it's causing the deaths of 120 children from starvation every day. nina, good morning. what would you like to... good morning, we're talking about this escalating trade war between china and us which would have an

tesco has 27.3% of the market, you two, sainsbury's and asda, would have had just over 30, so you haved that choice is increasing over time. we have to adapt our business as we look forward to those changing customer habits, and underlying our business results today, we have seen our online business grow by 6.9%. we have seen our convenience business grow by 3.7%. we have seen our taste the difference brand grow by 2.3%, and we are now delivering 20% of our company's and we are now delivering 20% of our com pa ny‘s sales and we are now delivering 20% of our compa ny‘s sales through and we are now delivering 20% of our company's sales through the online channels. so you can see how rapidly our business is changing towards that different customer shopping behaviour. as we said, you are very personally involved in this, and you we re very personally involved in this, and you were very keen to get this through. a lot of speculation about what you would do next. were you asked to quit when this deal was blocked?” have the full support of the board, so you will have the joy, i am sure, i've