BUSINESS LIVE: Barclays to buy Tesco Bank; Bellway completions to slump 31%; Howden’s £1.1bn war chest

Disney hopes to capitalize on Taylor Swift mania to boost its subscription service.

It has purchased exclusive streaming rights to the pop superstar’s Eras Tour concert film.

Barclays is set to buy Tesco’s retail banking operations in a deal worth up to £700m, starting a 10-year “exclusive strategic partnership” that will span the lender market and distribute credit cards, unsecured personal loans and warehouses using the Tesco brand.

Barclays boss CS Venkatakrishnan said: ‘This strategic relationship with the UK’s largest retailer will help create new distribution channels for our deposit and unsecured lending businesses.

‘We can bring our partner card expertise developed over decades in the US to further enhance the successful Tesco Clubcard loyalty programme.

‘Like our acquisition of Kensington Mortgages last year, this partnership with Tesco is further demonstration of the investment we continue to make in our UK consumer business.

“We look forward to working closely with the Tesco team over the coming months to enable a smooth transition and, subject to completion of the transaction, look forward to welcoming Tesco Bank colleagues and customers to Barclays.”