That's a record loss for Tesco, external. "Challenging industry conditions and the decline in profit over the last year have resulted in an impairment charge of £3.8bn against our trading stores," it said. There's also a £925m charge for the 49 sites it decided not to build.

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Tesco results are out. The supermarket giant has posted a full-year loss before tax of £6.4bn after revising down the value of its property portfolio. Last year it posted a profit of £2.26bn.

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A British trader has been accused of causing a fall or "flash crash" on the Dow Jones stock index in the US. "Flash crash is a nice key word to cite but the case has very little to do with a flash crash" because an individual would not have access to the technology needed to cause such a thing, says Lloyds's Mr Stadlmann. It's more likely to be a "classic case" of alleged fraud, he said.

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Facebook has earnings later today. "The key question at Facebook will be what's up with WhatsApp?" says Markus Stadlmann, chief investment officer at Lloyds private banking on Today. He says that Facebook, owner of WhatsApp, "hasn't done much with it. The question is, what's the business model for WhatsApp?"

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Shadow business secretary Chuka Umunna likens the deficit to a "mega mortgage" and the Labour party's policy to pay it off by the end of the coming parliament as the behaviour of a sensible home owner. "Do you seek to pay off your 25-year mortgage in five years or equally go to the other extreme and not pay my mortgage at all? The sensible position enables you to reduce your mortgage over time but also need to lead your life," he tells Wake Up to Money.

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Tesco results come in at 07:00. Stuart Robinson, a commercial property consultant at CBRE, tells Today "we are seeing the most fundamental change in shopping habits." A 38% drop in store construction since 2012 shows what's going on, he says, pointing out that store values have been written down after this "dramatic change" in how people shop.

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Sky's strong results on Tuesday have scotched any possibility of the pay-TV firm as a potential takeover target after the heavy price it paid to maintain Premier League superiority, says Justin Urquhart Stewart, co-founder and director, at Seven Investment Management. "Sky has done very well. It's amazing that they're able to get people to pay so much for a television service. It's a very impressive way to build up a customer base," he says.

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Tesco is expected to announce changes to its defined benefit pension for employees to see if it can cut the costs of running it. Malcolm McLean, pensions consultant at Barnett Waddingham, says it wouldn't be surprising if the supermarket chain made changes to the scheme. "It cost £542m to service the pension scheme last year. We're talking about big money," he says.

Good morning! All eyes on Tesco this morning. The supermarket chain will announce its full year results at 7am, with some analysts forecasting a loss of £5bn. Meanwhile, in the UK a financial trader accused of contributing to the 2010 Wall Street "flash crash" is due to appear at an extradition hearing at Westminster Magistrates' Court later. You can email us at bizlivepage@bbc.co.uk or tweet @bbcbusiness.