The Week: City News - Tesco reveals slowdown

Tesco, the UK's largest retailer, has reported a slowdown in sales growth and warned that repeated interest rate rises have damaged consumer confidence. Group sales at Tesco increased by 10 per cent in the 13 weeks to 26 May, but UK like-for-like sales growth slowed to 4.7 per cent, down 5.2 per cent on the previous quarter.