tesco

Tesco reported a rise in profits over 2011-2012 as the CEO pledged to renew focus on the UK business after the firm's first profit warning in 20 years.

Nigel Thomas, manager of the £3.2bn AXA Framlington UK Select Opportunities fund, has sold out of his position in supermarket chain Tesco for fear of ongoing problems in its UK business.

Richard Brasher, the chief executive of Tesco's UK operations, is set to step down from his role after one of the most difficult trading periods in the supermarket giant's recent history, according to reports.

Invesco Perpetual's Neil Woodford has revealed he sold out of his Tesco holding after the firm's profit warning last month, just as veteran investor Warren Buffett was snapping up the stock.

Francis Brooke, manager of the £428m Troy Trojan Income fund, has initiated a position in Aberdeen Asset Management as he believes the company is transforming itself into a "cashflow machine".

UK

Credit rating agency Moody's has placed Tesco's long-term debt rating under review for a possible downgrade following its recent profit warning.

ON UK INCOME

Warren Buffett's Berkshire Hathaway has increased its stake in Tesco to 5.1% after buying on weakness last week.

Tesco CEO Phil Clarke should decline his bonus to atone for approving a senior executive's share sale a week prior to its major profit warning, according to a leading investor in the company.