Two former senior executives of Tesco abused their positions to encourage practices that resulted in a 250 million pounds overstatement of expected profits and misled the stock market, a London court heard on Monday.
The head of Tesco's UK business was read out "almost word by word" a report detailing a 250 million pounds hole in the supermarket's accounts in 2014 a week before the stock market was informed, a court heard on Friday.
Tesco Chief Executive Dave Lewis has been called as a prosecution witness in the trial of three former senior executives accused of fraud and false accounting at Britain's biggest retailer, a court heard on Tuesday.
The former group commercial director of Tesco, Kevin Grace, will not face charges from the Serious Fraud Office (SFO) over the accounting scandal that rocked Britain's biggest retailer in 2014, his lawyer said.
Philip Clarke, the former chief executive of Tesco, will not face charges from the Serious Fraud Office (SFO) over the accounting scandal that rocked Britain's biggest retailer in 2014, his lawyer said on Monday.
Tesco paid Chief Executive Dave Lewis a cash and shares bonus of almost 3 million pounds ($4.3 million) for its 2015-16 financial year, reflecting the progress he has made in turning around Britain's biggest retailer.
Britain's biggest supermarket operator Tesco said sales had declined less than expected in its first quarter, indicating a tentative recovery in its key home market could be starting to move on to a stronger footing.
British grocer Tesco has taken delivery of a corporate jet worth $50 million (31.31 million pounds) just days after announcing it had overstated its profits by 250 million pounds, the Financial Times reported on Satur...