The City roundup: The City's most high profile fund manager warns investors off Tesco

Video: Alex Lawson provides a run-down of the day's major news from the City

Neil Woodford has advised investors not to put their money into the beleaguered supermarket Tesco (Reuters)

Get the latest business news with our daily roundup of the biggest news from the City.

Today's city round-up is dominated by dosh, or a distinct lack of it.

Neil Woodford, one of the City's most notable head fund managers, has advised investors not to put their money into the beleaguered supermarket Tesco. The announcement comes from Woodford, the man who decided to sell his stake of the company in 2012, following the discovery of a £250 million hole in Tesco's profit forecast this week.

Money printer De LA Rue were another company to receive bad news after they announced that heavy price cutting in its markets had led to the company making £20 million less in profits than at the same time last year.