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• The Financial Times reports that Walt Disney has set up an office in the UK dedicated solely to taking care of Tesco, the UK’s leading retailer.

According to the paper, Disney set up a Consumer Products office across the parking lot from Tesco’s non-food headquarters in Welwyn Garden City.

Bloomberg reports that Tesco has agreed to spend the equivalent of $353 million (US) to raise its stake in China’s Hymall superstore chain from 50 percent to 90 percent. The move by Tesco is calculated to keep pace with those made by retailers such as Wal-Mart and Carrefour to capture part of the fast-growing Chinese economy.
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