The City roundup video: Tesco sells aeroplanes, Euro Disney receives cash injection and Brits gamble big on the Lottery this summer

Video: Alex Lawson provides a run-down of the day's major news from the City

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The Independent Online

Don't miss out on the goings on in the business world, with our daily roundup of the biggest news from the City.

The testing times for Tesco have been reflected in the decision by new Tesco boss, Dave Lewis, to shun a shiny new £31 million GulfStream aircraft ordered by his predecessor, and immediately order the sale of the troubled retailer’s entire fleet of aeroplanes.

The sale of Tesco's aeroplanes has been announced on the day that two new directors have joined the supermarket chain's board. Mikael Ohlsson and Compass chief Richard Cousins are both set to join the beleaguered company next month, with many in the City particularly happy Ohlsson’s appointment.

Ohlsson’s 34-years with everyone’s favourite Swedish furniture giant Ikea will help appease those disgruntled investors who had put the grocer under pressure, claiming it had a dearth of shop floor.

Video: Alex Lawson takes us through today's biggest business stories

Like a knight in shining armour, The Walt Disney Company has come to the rescue of its rescue European arm of the company, Euro Disney. The US picturehouse has plunged 1 billion euros into the suburban Paris theme park after after its shares fell by 15 per cent.

And finally Brits were feeling a lot luckier this summer, with National Lottery organisers Camelot have reported a growth in the number of Brits playing the loteery. Camelot bosses said, that the boost in those playing the lottery games saw it record its second-highest ever half-year results since its 1994 launch.

 

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