Tesco restructuring continues with garden centre sale

Tesco has announced the sale of its Dobbies Garden Centres business for £217 million, becoming the latest in a string of asset sales.

Chief executive Dave Lewis has been following a plan to divest Tesco of unnecessary assets and focus on reviving the grocery business since his appointment in 2014. Last week Tesco agreed on the sale of its Turkish business and the Giraffe restaurant chain in the UK, after selling Tesco’s South Korean arm late last year.

Tesco (LON:TSCO) is currently trading up 1.54 percent at 155.00 (0919GMT).

Mitsubishi to pay compensation after fuel economy scandal

Japanese carmarker Mitsubishi will pay around $600 million in compensation to vehicle owners, after admitting to overstating the fuel economy on some models.

Each owner will receive 100,000 yen – around £672 – for 625,000 minivehicles with the problem, including two models produced for Nissan.

A statement will be made from 3pm Tokyo time. Shares in the company closed up 6.42 percent on the news.

HSBC to pay to end Household International lawsuit

Shares in HSBC Holdings have risen after it announced that it would pay $1.575 billion to end a 14 year old lawsuit.

The lawsuit, which stemmed from the Household International consumer finance business that the British bank bought in 2003, could have made HSBC liable for a figure as high as $3.6 billion.

Shares have risen 0.68 percent on the news, trading at 429.35 (0938GMT).

17/06/2016