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In the UK, City AM reports that members of Tesco's board of directors have purchased more than three quarter of a million dollars worth of company stock, a day after the company revealed that its half-year operating profit was down 55 percent - a reflection of continuing weakness in he company's home market.

CEO Dave Lewis bought more than $300,000 worth of stock, with the rest bought by other members of the board.

Lewis had been criticized for not investing in the company that he now leads, but he said yesterday that the board had recused itself from buying shares while an investigation was conducted into an accounting scandal; Tesco was being probed for having overstated revenue and understand expenses as a way of driving up its stock price. "We excluded ourselves from buying Tesco shares because we had inside information and it wouldn’t have been appropriate for us to trade shares and because we thought that was good corporate governance,” he said yesterday.
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