Tesco to open 300 new stores in overseas operations
UK based retailer Tesco has announced plans to open 300 new international stores alongside a 5.6 per cent increase in like-for-like UK sales. The company said it is still considering options to enter the Indian retail sector after a breakdown in talks with Bharti Enterprises, which entered into partnership with Wal-Mart last week.

Andrew Higginson, said Tesco called off talks with Bharti because of "slightly different objectives." He added that "there are plenty of other fish in the sea."

New stores will open in Thailand, South Korea, the Czech Republic, Turkey and Poland in the second half, representing the group's largest overseas opening programme to date.

Underlying sales in the core UK chain were helped by a good performance from tesco.com. Including petrol, like-for-like sales grew 8.5 per cent. Tesco said higher energy costs and increased market prices for meat and other produce sent store inflation 0.8 per cent higher but it expects these pressures to ease.
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Yahoo announces revamp
Yahoo! Inc led by Terry Semel as the new chief executive operations has announced a sweeping reorganisation code named Project Soufflé, - including a senior management overhaul - in an attempt to bring back faster growth to the flagging internet giant. The overhaul includes scrapping Yahoo's many separate product groups and replacing them with two divisions: one focused on users and the other on advertising.

The company whose earlier CEO Dan Rosensweig recently announced his departure as chief operating officer also plans to hire two new members to the top management team from outside the company. Lloyd Braun, a former ABC television executive hired two years ago to spearhead a push by Yahoo into the media business, also quit on Tuesday.

The overhaul comes after increasing evidence that Yahoo has lost momentum in its efforts to catch up with Google, while also ceding ground to social networking and other community-based internet sites such as MySpace and YouTube.

Yahoo said one of the new divisions, charged with building online audiences, would act as a consumer group, segmenting the company's users more clearly and creating services for each. The other would focus on advertisers and other online publishers, in an effort to replicate the success that Google has had in establishing itself as a network for distributing online advertising far beyond the audiences that come to its own websites.
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