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Tesco has hailed “significant progress” after reporting a return to profit and its first quarterly sales growth for three years. The supermarket giant reported a £162m statutory pre-tax profit for the year to 27 February with UK like-for-like sales up 0.9% in the fourth quarter. The results follow last year’s £6.3bn loss, the worst results in its history. Tesco chief executive Dave Lewis said the group had “regained competitiveness in the UK”. Reports have suggested that the supermarket group is now planning to sell off some of its other side businesses, including the Dobbies Garden Centres chain, coffee shop chain…

British royal couple Prince William and Kate Middleton enjoyed an evening around campfire at India’s Kaziranga national park on Tuesday as local artists performed folk dance to mark the end of harvest season. Kaziranga, in India’s northeastern Assam state, is home to the world’s largest population of one-horned rhinos. The royal couple received a warm welcome at the national park as young men and women danced to foot-tapping music. Prince William was also seen trying his hand at a bamboo-made musical instrument called Gogona.

Wealthy students keep earnings gap Graduates from wealthy families “earn significantly more” in their careers than less well-off counterparts, even if they study the same course at the same university, according to research. The study, based on 260,000 graduates in England, has examined the links between university and later income. It shows big earning gaps between different courses and universities. Jack Britton, of the Institute for Fiscal Studies, says it shows the persistence of “social immobility”.

Eurozone crisis ‘pushing migrants to UK’ The eurozone jobs crisis is encouraging more southern European migrants to head to the UK to join those from the east, the Migration Observatory has said. Over the past five years the number of EU nationals living in the UK has gone up by almost 700,000 to 3.3 million. The report said 49% of the 700,000 were from Poland and Romania, but Spain, Italy and Portugal accounted for 24%. The Migration Observatory says there is no single “pull factor” but a mixture, including wages and economic prospects.

The UK’s exit from the European Union could cause “severe regional and global damage”, the International Monetary Fund has warned in its latest outlook. The IMF used its closely-watched World Economic Outlook report to slash its forecast for UK economic growth and warned if Britain were to leave the European Union it “could do severe regional and global damage by disrupting established trading relationships”. It is the Fund’s first formal warning about the economic problems threatened by the forthcoming referendum, although its managing director, Christine Lagarde, has warned a number of times that Britain’s departure would cause instability. The report…

“If you have more accurate Knowledge of the word, you’ll live in victory and dominion every day of your life irrespective of any adversity” -Rev Dr Chris Oyakhilome DD, DSc

Plans to force the largest companies to disclose more about their tax affairs will be unveiled by the European Union today. The rules will affect multinational firms with more than €750m in sales. They will have to detail how much tax they pay in which EU countries as well as any activities carried out in specific tax havens. The plans come amid heightened scrutiny of the use of tax havens following the Panama Papers revelations. Lord Hill, the EU’s financial services commissioner, said: “This is a carefully thought through but ambitious proposal for more transparency on tax. “While our proposal on…