Bloomberg retracts column about Jaguar Land Rover’s finances
Bloomberg News has retracted an incorrect Bloomberg Opinion column originally published on the Bloomberg Terminal on May 29 in Hong Kong with the headline “Jaguar, Where’d That Extra $1 Billion Come From?”
A story on its website states, ” Our reporting about the primary subject of the story, Jaguar Land Rover, was flawed. The column incorrectly reported that JLR used 500 million pounds in funding from its receivables facilities to boost its cash flow. JLR said it has made no such use of its receivable facilities during recent quarters. JLR also said that even if it had drawn from those facilities it would have been accounted for as debt and would not have boosted operating cash flow. The column contained other inaccuracies as well. We regret the lapse in our editorial standards and apologize to readers and to JLR for any harm the article may have caused.”
Read more here.