Reuters

Rebekah Brooks, a former chief executive of Rupert Murdoch's British newspaper arm, has been charged with perverting the course of justice over a phone hacking scandal at one of the media mogul's papers, British prosecutors said on Tuesday. "I have concluded ... there is sufficient evidence for there to be a realistic prospect of conviction," said Alison Levitt, Principal Legal Advisor to the Director of Public Prosecutions.

Telegraph

Tesco will invest £1bn in improving its stores, after it announced marginally better results than expected but admitted it would drastically scale back its expansion in Britain after poor sales.

Reuters

Barack Obama and David Cameron discussed the possibility of releasing emergency oil reserves during a meeting on Wednesday, two sources familiar with the talks said, the first sign that Obama is starting to test global support for an effort to knock back near-record fuel prices.

The markets recouped Monday's losses following a reasonably well-received Spanish debt auction yesterday.

Over recent months Tesco has taken a thorough beating from the press, and share performance has been sporadic at best. Our discretionary team has bought the stock from time to time and there are good reasons for that, so this is clearly a personal view.

BBC

Tesco is to create 20,000 jobs in the UK, focusing on opportunities for young unemployed people, it has announced. The firm said it would create the full- and part-time jobs over two years, invest in additional staff hours and training and improve stores. Tesco is the country's largest private sector employer with more than 290,000 staff - a quarter under the age of 25.