Tesco dropped 1 per cent to 300.6 pence. The company may report its worst UK sales in more than 10 years this week as discounters gain market share, Morgan Stanley predicted. Photograph; PA

European shares started the month positively yesterday, buoyed by upbeat economic data from China that helped to allay concerns about growth rates the(...)

Chief executive of insurance giant Axa Henri de Castries: “This transaction allows us to further grow our US business where we have been achieving good momentum.” Photograph: Lionel Bonaventure/AFP/Getty

Axa, Europe’s second-largest insurer, agreed to sell a US unit and transfer certain obligations to Protective Life for $1.06 billion (€820 mill(...)