Supermarket giant Tesco faced stiff competition in the UK as its closest rivals increased their market share over the festive and New Year period, figures revealed today.

More than 3,000 retail jobs were saved today after the childrenswear chain Adams was bought out of administration.

The assault of Tesco on the market share of rival supermarkets shows no signs of abating, figures revealed today.

The new owners of Somerfield cut their losses on the Kwik Save chain by selling the brand and the majority of its stores today.

The new owners of Somerfield were today reported to have hoisted the for-sale sign above its loss-making Kwik Save chain.

One of the backers of a £1.1bn (€1.6bn) takeover of Somerfield today pledged to “throw a lot more money” at the chain as it looks to take on bigger rivals.

UK supermarket chain Asda was today offered hope that its strategy of aggressive price-cutting was eating into the dominance of market leader Tesco.

Potential takeover parties circling British supermarket chain Somerfield were today ordered to bid within a month or walk away.

British supermarket chain Asda received further evidence today that it is holding off rival Sainsbury's in the battle for second spot in the grocery market.

UK supermarket chain Asda received further evidence today that it is holding off rival Sainsbury’s in the battle for second spot in the British grocery market.

Takeover target Somerfield was today urged by shareholders to walk away from a bid rather than accept a cut-price offer.

British supermarket group Somerfield unveiled a 63% rise in profits today as it said discussions with potential takeover parties had reached an “advanced stage”.

Bidders circling British supermarket chain Somerfield will learn this week if their £1bn-plus offers have gained boardroom support, it was reported today.

British supermarket chain Somerfield today said it had rejected a £1bn (€1.44bn) takeover approach from the acquisitive Iceland-based retail group Baugur.

Tesco’s dominance of the food retail sector in the UK strengthened last month when it won further share from rivals, new figures showed today.

British supermarket chain Somerfield today said tough competition and food price falls had hit first half like-for-like sales.

Supermarket group Somerfield is to take control of 114 smaller Safeway stores as part of a £260m (€374.4m) deal involving rival Morrisons, it said today.

With no major UK companies reporting results this week, the spotlight will move on to the FTSE 250 Index and give the minnows a chance to shine.

British supermarket group Somerfield reported a sales lift for its Kwik Save brand today after showing signs of benefiting from a store refit programme.

Supermarket group Somerfield is to do away with its Kwik Save brand in Scotland in a move that will lead to around 350 job losses, it announced today.

Evidence of a turnaround in the economy and a raft of corporate news sent the FTSE 100 Index to the highest level seen for a year.

The London market was dragged lower today by hefty falls from steel group Corus and telecoms firm Cable & Wireless.

Sales of cult 1970s wine Black Tower are soaring - thanks to the Big Brother housemates.

Food will feature heavily in the minds of market watchers next week as trade updates are due from supermarket chains Tesco, Safeway and Somerfield.