Supermarket Tesco is considering taking steps to allow its personal finance arm to borrow directly from wholesale markets as part of a push into retail banking, it emerged today.

Supermarket Tesco today said it was investing £150m (€168m) in the biggest change to its Clubcard loyalty scheme since it launched almost 15 years ago.

The London market dipped into the red today amid jitters on Wall Street and signs of energy market fallout from the conflict between Russia and Georgia.

Supermarket Tesco today agreed a £950m (€1.2bn) deal with Royal Bank of Scotland to take full control of the pair’s Tesco Personal Finance joint venture.

Supermarket Tesco said today they would approach Manchester United goalkeeper Fabien Barthez to advertise its own label butter.