William Jackson, chief emerging markets economist at Capital Economics, says the US president's aim is to "revive Venezuela's oil sector and use that energy to increase supply and reduce costs to the consumer, possibly providing a source of revenue for a more friendly Venezuelan government to rebuild the economy after years of mismanagement".
Among its five main business divisions, fashion and leather goods — the largest — saw revenue fall 8%. Selective retailing was flat year on year. Watches and jewelry declined 1% in reported terms but rose 3% organically, while perfumes and cosmetics, and wines and spirits, fell 3% and 9%, respectively.
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Tesco will cut 180 head office jobs as it adjusts to changing shopping habits.
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Google VP warns that two types of AI startups may not survive
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