Tesco

The Serious Fraud Office (SFO) is to launch a criminal inquiry into Tesco after its accounting failure led the firm to overstate profits by £263m, according to reports.

The bad news continued for embattled retailer Tesco yesterday after its credit rating was downgraded by two key agencies.

Tesco has scrapped its full-year trading update and its chairman is to step down as it deals with the fallout from the accounting scandal which left a £263m black hole in its balance sheet.

Tesco Bank has launched its first range of 90% loan to value (LTV) mortgage loans.

The Financial Conduct Authority (FCA) has opened an investigation after Tesco admitted it had overstated its half-year profits by £250m.

The Financial Conduct Authority will conduct an investigation into Tesco after the firm overstated its estimated half-year profits by £250m.

Tesco is coming under increasing pressure to slash its dividend in order to free-up cash to help it compete against low-cost rivals, with a leading shareholder speaking out over the weekend and analysts predicting a major cut to its payout.

Billionaire investor Warren Buffett has cut his stake in Tesco, days after the food retailer posted a major profit slump.

Supermarket giant Tesco led the FTSE 100 lower this morning after revealing its profits had dropped off sharply.

The "high profile" of Tesco will boost retirees' inclination to shop around for the most appropriate pension income product after the supermarket giant announced it is to launch an annuity comparison service, according to Tom McPhail.