The UK City regulator has launched an investigation into a £250m overstatement of half-year profit by Tesco.

Tesco has been plunged into fresh turmoil following the suspension of four UK executives while it investigates a £250m over-statement of profits.

Tesco has launched an investigation after revealing that its guidance on half-year profits was overstated by around £250 million.

ROBERTO MANCINI wants Wayne Rooney to face his Manchester City side on Saturday – so there will be no excuses from Manchester United if they lose the derby.

The Red Knights consortium were meeting today to finalise their plans to launch a takeover of Manchester United.

MANCHESTER UNITED chief executive David Gill yesterday told the Red Knights group of wealthy fans they are wasting their time trying to buy the club.

Manchester United chief executive David Gill today insisted the Glazers do not want to sell the club and questioned the practicality of the Red Knights’ possible takeover bid.

THE Glazer family last night insisted Manchester United was not for sale after it was reported in London that leading city financiers met to discuss a potential takeover bid for Premier League champions.

Northern Rock confirmed today that its new bosses have launched an investigation into whether legal action can be taken against the now nationalised bank’s former board.

A high-flying London lawyer claimed his former firm forced him to retire early in a strongly-contested legal battle today.

Catering giant Compass today said an investigation had uncovered “serious irregularities” in the way United Nations contracts were awarded.

Catering giant Compass took a swipe at the negative publicity about the standard of UK school meals today as it unveiled a 9.9% fall in annual underlying profits.

Catering giant Compass fired the boss of its UK division and two other staff today after an investigation into how UN contracts were awarded raised “serious concerns”.

Catering giant Compass today suspended the chief executive of its Ireland and UK divisions as it investigates how United Nations contracts were awarded.

Canadian fund manager CI Financial has appointed banking and legal advisers to pursue a formal takeover bid for British fund manager Amvescap.

American insurance broker Marsh & McLennan could cut hundreds of jobs in the UK this spring, it emerged today.

Philip Green’s legal team was deciding today whether to fight an injunction barring its involvment in the entrepreneur’s battle for Marks & Spencer.