herald

Wednesday 16 August 2017

Tesco under FCA probe

bad day for

Britain's financial watchdog has launched an investigation into the accounting scandal at Tesco that wiped £3bn (€3.85bn) from the company's stock market value.

"Tesco will continue to co- operate fully with the Financial Conduct Authority and other relevant authorities," the company said.

Tesco said the FCA's investigation will be in addition to the independent review already under way by accountants .

Further scrutiny could also come from British lawmakers.

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