1. Cheerful Tesco sales point to easing inflationary pressures
Adjusted retail operating profit was up 18.8% to £2.76 billion, while the dividend per share was up 11% to 12.1p.
2. Interest rate cut hopes dwindle as US inflation comes in hot
US markets have now priced out a June rate cut, with swaps indicating just two cuts totalling half a percentage point this year.
3. FTSE 100 closes in green
London's blue-chip index gained 26 points over the day to close at 7,961.
4. Lloyds Banking cutting jobs in risk management department
The lender confirmed to Proactive that 45 jobs were being cut after new roles were factored in, with the move entirely linked to the strategy launched in early 2022 by CEO Charlie Nunn, which included an intention to diversify away from mortgages.
5. TikTok owner ByteDance profits surge to $40bn
The figures are higher than previously leaked numbers and come less than seven years after TikTok was formally launched, in May 2017, with the app now used by 170 million Americans and an estimated 1.2 billion people worldwide.