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Bloomberg reports that Tesco, after seeing its efforts to sell its Turkish stores fail, now "will focus on its better performing stores" and "may close some of its more than 190 stores in the country." The company said that its goal will be "“to focus the business on its heartlands, minimize capital spend and improve profitability."


• The Wall Street Journal reports that General Mills "plans to start selling Cheerios Protein, hoping to boost sales among the growing numbers of people giving up cereal in favor of protein-rich breakfasts like Greek yogurt. The new cereal will have about seven grams of protein per serving without milk and come in two flavors, Oats & Honey and Cinnamon Almond, a spokesman for General Mills said."


• The BBC reports "Tesco has finalised a deal with the state-run China Resources Enterprise (CRE) to create the largest food retailer in China. The joint venture will combine Tesco's 131 outlets in the country with CRE's almost 3,000 stores, called Vanguard.

"CRE will own 80% of the new chain and Tesco will have a 20% stake."
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