Carrefour, the largest retailer is to join forces with Tesco, the largest in the UK, in a “strategic alliance” to cut costs and offer lower prices to customers. Increased buying power from the merger could mean lower prices on all own-brand goods.

Thousands of holidaymakers could be affected by strikes this summer as Ryanair pilots announce a strike for July 12 in protest against working conditions. The strike is due to last for 24 hours, starting at 1am on 12 July.