Britain’s biggest supermarket has been reported to the Competition & Markets Authority over claims its Clubcard prices could be misleading to shoppers.
Which? said it was “simply not good enough” that Tesco was not offering the same method of pricing for products under its loyalty scheme, which meant shoppers may not realise which is the best deal.
It said the pricing method was “at best confusing for shoppers struggling with soaring food inflation and at worst could be breaking the law”.
Tesco hit back at the claims saying its labelling “meets the current legal requirements and guidelines” and that it was “disappointed that Which? has chosen to make these ill-founded claims against our Clubcard Prices scheme”.
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5) Eurozone sinks into recession | The eurozone entered into a technical recession at the start of the year, according to revised data, as rising inflation hit consumer spending.
What happened overnight
Wall Street stocks finished higher Thursday, reflecting better sentiment on the US economy and a consensus view that the Federal Reserve will not hike interest rates next week.
The Dow Jones Industrial Average finished up 0.5pc at 33,833.61. The broad-based S&P 500 gained 0.6pc to 4,293.93, while the tech-rich Nasdaq Composite Index jumped 1pc to 13,238.52.
Treasury yields retreated after the spike in new US unemployment benefits fuelled concerns of a looming recession.
The policy sensitive two-year Treasury yield edged down to 4.5085pc, while the yield on benchmark 10-year bond slid to 3.712pc.
Asia-Pacific equities rose to their highest level since mid-February on Friday, taking cues from the overnight Wall Street rally.
Japanese and Australian bond yields followed those on US Treasuries lower, and the dollar remained on the defensive early in the Asian session.
MSCI’s broadest index of Asia-Pacific shares added 0.6pc, and at one point touched its strongest level since February 16.
Much of that was driven by a 1.66pc jump in Japan’s Nikkei, which rebounded strongly following its plunge from a 33-year high in the previous session.
Hong Kong’s Hang Seng added 0.21pc, while mainland Chinese blue chips edged 0.1pc higher.
