Tesco

Retailers and miners come under the spotlight as Investment Week counts down the ten scariest stocks of the year so far.

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.