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25.11.25 - 14:24
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FCA makes inquiries into WH Smith accounting error that wiped almost £600m off value (The Guardian)
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Regulator assessing whether firm breached UK disclosure rules for listed companies, but is yet to launch formal investigationBusiness live – latest updatesThe City watchdog has contacted WH Smith to find out more about its accounting error that wiped almost £600m off the company's stock market value overnight and led to the departure of its chief executive.The Financial Conduct Authority (FCA) said it had started making inquiries to assess whether the company had breached UK disclosure rules for listed companies, but is yet to launch a formal investigation. Continue reading......
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19.11.25 - 10:18
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WH Smith chief steps down after accounting error slashes profits (The Guardian)
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Almost £600m was wiped off company's market value when blunder was discovered in AugustBusiness live – latest updatesWH Smith's chief executive has stepped down with immediate effect, after a review found accounting failures in its North American division, prompting the retailer to slash its profit outlook.Nearly £600m was wiped off the company's market value when the blunder emerged in August. Shares took a 42% one-day plunge from which they have not yet recovered, leaving the travel shop chain reeling shortly after the sale of its high street business, which has been rebranded as TGJones by its new owners. Continue reading......
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