Tesco has been plunged deeper into crisis after it was forced to suspend four senior executives and call in investigators following the discovery that its profits had been artificially inflated by £250m. More than £2bn was wiped off the value of Britain’s biggest retailer on Monday after its new chief executive told the City that forensic accountants and lawyers had been drafted in to scrutinise its books in the wake of a warning from a whistleblower that payments from suppliers were being misbooked and business costs were being glossed over. Tesco said the changes had misleadingly boosted profits by £250m in the first six months of the year. Full story >>
If you overstate something, you talk about i in a way that makes it seem more important, impressive, or serious than it really is. • He may have overstated his ability in the interview.