BUSINESS LIVE: Phoenix weighs sale of SunLife; AO World profits beat forecasts; REVB rises thanks to cost cuts

Morrisons is opening more convenience stores as its price war with Aldi and Lidl shows signs of bearing fruit.

The supermarket group said it intends to open around 400 more Morrisons Daily stores to reach a total of 2,000 by 2025.

Insurance firm Phoenix Group is exploring a possible sale of its SunLife business, which specialises in people aged over 50, after receiving expressions of interest from potential buyers.

Phoenix told investors it had concluded that SunLife, which posted an after-tax profit of £16m in 2023, “is no longer critical to the delivery” of the group’s “vision of becoming the UK’s largest retirement savings and income business.

He added: “The Board has therefore decided to initiate a sale process, having received several initial expressions of interest from third parties. However, at this stage there can be no certainty that a sale will occur.”