business news in context, analysis with attitude

• The Financial Times reports that Tesco plans to open as many as 80 stores in China over the next half-dozen years, with one-fifth of them being hypermarkets. The Times notes that at this rate of expansion, it will means that Tesco will create more sales floor space in China over eight years than it has in the UK over eight decades.

• The Mail reports that Tesco CEO Sir Terry Leahy believes that the UK is emerging from the recession and that “recovery has taken hold ... the cycle now is growth.”

Leahy also said that he believed that for recovery to be sustainable, “Any government, not just in the UK, has to get their public finances in order and probably the primary place should be to cut costs.”
KC's View:
Leahy probably figures that one of the best places to start cutting costs in government is in all those annoying regulatory bureaucracies that seem intent on crimping Tesco’s growth options in the UK.