Tesco Suspends Execs Over Alleged Book-Cooking

LONDON (AP) — Tesco, the world's second-largest supermarket chain after Walmart, has suspended four executives and launched an accounting investigation after admitting that its half-year profit was overstated by 250 million pounds ($407 million).

The scandal deepens the financial woes for the British company, which on Monday had to issue its third profit warning in two years as it struggles to compete with low-cost rivals. The announcements shocked investors, with shares plunging 11.6 percent to 203 pence at market close Monday. The problems have driven the company's stock down 46 percent in the past year.

Tesco's Facial Recognition Scanners Raise Privacy Concerns

A major British retail chain is raising concerns among privacy activists after announcing it will start using facial recognition technology to serve up customized ads to shoppers.

The news has immediately raised parallels to the movie Minority Report, in which ads in stores and on public transit address commuters by name after an eye scan.

Tesco, the world’s third-largest retailer after Walmart and France’s Carrefour, says its technology won’t be quite that invasive. The facial scanners will identify a person’s gender and age, but won’t identify them by name.