Better late than never. Tesco Plc has finally revealed Jack’s, its new store format to take on the might of the German discounters, Aldi and Lidl. Tesco should have made this move when the no-frills supermarkets started winning significant market share a few years ago. And cut-price chain B&M European Value Retail SA is expanding aggressively, and increasing its food ...

While flying last week to a conference in Reykjavík, it dawned on me that I knew almost nothing about Iceland. What little understanding I had was based on Michael Lewis’ epic tale of the nation’s financial collapse in Vanity Fair magazine entitled, “Wall Street on the Tundra.” His 10,000-word missive is a Norse saga of its own. Other Icelandic literature ...

Bloomberg UBS Group AG’s investment bank was dealt a fresh blow as Andrea Orcel, the top rainmaker at a business that’s lost much of its clout in a shift toward wealth management, left for Spain’s Banco Santander SA. The Swiss bank promoted two executives to jointly lead the investment bank, splitting the role held by Orcel, it said. Piero Novelli, ...