Tesco needs to invest up to £1bn (€1.2bn) to turn around its flagging British business, a process that may take up to three years, according to its fourth-largest shareholder.

TESCO has launched into the second-hand car market in Britain in the group’s latest venture to expand outside traditional supermarket retailing.

Tesco has launched into the UK's second-hand car market in the group’s latest venture to expand outside traditional supermarket retailing.