business news in context, analysis with attitude

• Tesco said yesterday that its annual sales were up 13 percent to the equivalent of $78.6 billion (US), with annual profit that was up 8.8 percent to $4.5 billion (US).

• McDonald’s announced this morning that its first quarter profit was $979.5 million, up four percent from $946.1 million during the same period a year ago. Q1 revenue fell to $5.08 billion from $5.61 billion.

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