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Tesco withholds payment from former CEO Phil Clarke

Supermarket giant Tesco is withholding payments for its former chief executive, Phil Clarke, as an investigation into overstating profits continues.

The company announced today that it had overstated its profits for the first half of this year by £263m, slightly higher than the £250m originally estimated.

ITV News Economics Editor Richard Edgar is following developments.

Amputee thanks poppy appeal for artificial limbs

A double-leg amputee has thanked the poppy appeal for sponsoring the centre which fitted him with his artificial limbs.

Clive Smith, who was part of the Royal Engineer Search Team, spoke to Good Morning Britain about how he lost both of his legs after an IED exploded while he was serving in Afghanistan in 2010.

Clive spent five days in critical care in the UK before he was well enough to be transferred to Headley Court.

He said the threat of losing limbs to an IED was "an occupational hazard" but he wrote it off as "a very hard day".

The former bomb disposal soldier explained: "It's humbling to know that the centre has been created because of the public's generous support of the Legion, and the Poppy Appeal in particular. Without it, the Legion would not be able to help guys like me, as well as people who have left service and their families."

The limbs gave him "a little bit of freedom" to allow him to everything he used to do but at "a much slower pace".


Tesco CEO: 'We will be the best supermarket again'

Tesco chief executive Dave Lewis has insisted the company will recover from "real challenges" to become "the best supermarket for customers" once more.

ITV News Economics Editor Richard Edgar is following developments.

Tesco scraps trading profit outlook as sales fall

Tesco has scrapped its full-year trading profit outlook as its domestic sales fell sharply in the second quarter of this year.

Tesco reported a sharp fall in domestic sales in the second quarter of the year. Credit: Rui Vieira/PA Wire

Results announced this morning showed underlying UK sales own 5.5% over the period.

The group said last month it had overstated its first-half profit forecast by £250 million pounds, but the group said on Thursday this had now risen to £263 million.


Tesco profits overstated by £263m

Tesco has announced that it overstated its profits for the first half of the year by £263m, slightly higher than the £250m originally estimated when the company was hit by an accounting scandal.

ITV News Economic Editor Richard Edgar is following developments.

Five of the company's executives have been suspended over the issue and city regulators are investigating what went on.

Chief executive Dave Lewis said the suspensions were not disciplinary but would enable a "full and frank" investigation.

NHS-backed weight loss prizes 'all part of a process'

The health secretary dismissed accusations offering overweight and obese cash incentives to drop the weight would be ineffective.

Jeremy Hunt stood by a five year plan for the NHS which proposed using workplace schemes with cash and shopping voucher prizes to get employees to shed pounds.

Mr Hunt told Good Morning Britain the incentives were "part of a process" similar to the successful public health campaign to get young people to stop smoking.

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