One of Tesco's largest shareholders has sold almost two-thirds of its stake in recent weeks, according to the Sunday Telegraph.

Investment fund Harris Associates is said to have reduced its holding in the supermarket giant from about three per cent to close to one per cent. David Herro, chief ­executive of Harris, is concerned about a lack of clear strategy at Tesco.

Meanwhile, The Sunday Times reports that Conran Holdings, the retail and design consultancy founded by Sir Terence Conran, is back in profit thanks to a gain from selling its stake in restaurant operator D&D holdings.

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Conran Holdings was said to have booked a £4.3m profit in the year to March, compared to a £3.6m loss in the previous 12 months, while sales edged up from £38m to £39.8m.

Liberty Global is thought to be canvassing opinion among major ITV shareholders as it mulls a possible takeover bid, a report in The Sunday Telegraph said.

At the moment Liberty, which also owns Virgin Media, has a 6.4 per cent stake in the broadcaster.

Business management software provider ­Appointedd has secured £160,000 of funding from Equity Gap, Apollo Informal Investment and the Scottish Investment Bank. The Sunday Herald says the cash will be used by Appointedd to hire more staff and take the ­business into new markets.

The chairman of HMV believes the chain will soon regain its place as the largest retailer of CDs and DVDs in the UK.

Paul McGowan told The Mail on Sunday it is seeing growing trends of physical music purchases, such as CDs or vinyl, and is now only about one per cent behind market leader Amazon.

Car breakdown business RAC is the latest company reported to be considering a stock market listing.

The Sunday Telegraph said the flotation could be priced at about £2 billion, with senior staff at RAC in line to share up to £300m.

Royal Bank of Scotland is looking to put the Bowlplex bowling alley business it has owned since 2012 up for sale.

The Sunday Times said RBS has begun talking to advisers about running an auction for the leisure firm.