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NotPetya cyber-attack cost TNT at least $300m

Delivery company FedEx says a recent cyber-attack cost its TNT division about $300m (£221m). The company was one of several to have its computer systems severely disrupted by the NotPetya ransomware outbreak in June. Company executives also acknowledged TNT had yet to fully restore all its IT operations and was ...

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Rise in female workers suppressing wages, says OECD

A rise in the employment rate for women since 2008 is holding back wage growth globally, the OECD has told the BBC. Chief economist Catherine Mann said women were paid less in general, while male employment rates remained weak, and that this had skewed the figures. She also blamed poor ...

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Retail sales growth boosted by clothing

UK retail sales grew by 1% in August compared with the previous month, with sales of clothing and non-essential items reported as strong. The Office for National Statistics (ONS) also said that compared with last August, sales volumes were 2.4% higher. It was the 52nd month in a row that ...

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First class could be cut on busy trains, says Grayling

Train firms could be forced to reduce first class seats on busy commuter lines to ease overcrowding, Transport Secretary Chris Grayling has said. He said people will see “less first class in the future” with busy suburban trains having “one class” instead. Mr Grayling suggested operators may be forced to ...

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Bank of America picks Dublin for EU hub

Bank of America has chosen Dublin as its new base to service EU clients as part of its Brexit contingency plans. It is the first US bank to confirm the Irish capital as its preferred site. Citigroup has picked Frankfurt as the base for its EU trading operations, and reports ...

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Mastercard £14bn 'overcharge' legal action fails

A £14bn class action lawsuit against Mastercard has been thrown out by the Competition Appeals Tribunal. The former financial ombudsman, Walter Merricks, had claimed that 46 million consumers had been overcharged by Mastercard over a 16-year period. But the court ruled that the case could not proceed through a collective ...

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Lloyds under fire over HBOS fraud compensation

Lloyds Banking Group has said it is close to offering compensation to 30 customers caught up in a criminal conspiracy involving former bankers at its HBOS subsidiary. The bank has already missed its own deadline of 30 June for paying redress to all victims. So far, only five have accepted ...

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Congo's mining revenue 'missing' – Global Witness

More than 20% of the Democratic Republic of Congo’s mining revenue is being lost due to corruption and mismanagement, a campaign group says. According to a Global Witness report, the money is being distributed through corrupt networks linked to President Joseph Kabila. At least $750m (£580m) has gone missing over ...

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Audi offers diesel emissions upgrade for 850,000 cars

German carmaker Audi is offering a free software upgrade for 850,000 diesel cars in order to improve emissions. Audi said the upgrade would “improve emissions behaviour in real driving conditions further beyond existing legal requirements”. The carmaker added it was convinced the programme would counteract possible bans on diesel cars. ...

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Siemens to exit Russian power joint venture

Siemens will withdraw from a Russian joint venture after discovering that four of its gas turbines were illegally shipped to Crimea. The German industrial giant will also halt deliveries of power generation equipment to Russian state-controlled customers for the “time being”. Siemens said it had received “credible information” that its ...

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