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M&S contractor ‘investigating whether it was gateway for cyber-attack’
An Indian company that operates Marks & Spencer’s IT helpdesk is reportedly investigating whether it was used by cybercriminals to gain access to systems at the retailer, which is battling a devastating hack.M&S said this week that “threat actors” had gained access to the retailer’s systems through one of its contractors – understood to be Tata Consultancy Services (TCS).The clothing, food and homeware retailer confirmed the hackers used “social engineering” techniques to attack them, such as posing as a staff member to fool a helpdesk into giving away passwords.TCS, which has worked with M&S for more than a decade, has been helping the retailer with its inquiries into the cyber-attack, which began over the Easter weekend. The retailer said the attack could cost it up to £300m in profit
Sunny spring drives biggest jump in retail sales in Great Britain in four years
Sunny spring weather sent shoppers flocking to supermarkets and specialists such as butchers, bakers and alcohol outlets last month, fuelling the strongest quarterly jump in retail sales in Great Britain in almost four years.Retail sales volumes rose by 1.2% in April, well above City forecasts of an increase of between 0.2% and 0.4%, marking the fourth straight month of sales growth
UK private sector shrinking as firms cut jobs; pressure to raise taxes as government borrowing jumps – as it happened
Britain’s private sector is shrinking for the second month running as factory output falls at the fastest rate in a year and a half, a new survey shows.The latest poll of purchasing managers at UK companies found that private sector output is decreasing in May, although at a slower rate than in April.Manufacturing production fell at the fastest rate since October 2023, although this was moderated by a “fractional rise” in service sector output.UK firms reported that clients were cautious this month, due to business uncertainty, leading to a drop in new orders. However, worries about US tariffs have dropped this month, after Donald Trump delayed tariffs on America’s trading partners and agreed a trade deal with the UK
UK petrol prices poised to fall further as oil prices tumble
Global oil prices have tumbled by more than $1 a barrel in a sign that pressure on households at the petrol pumps could ease further.The price of Brent crude fell to $63.86 a barrel on Thursday following reports that the Opec oil cartel and its allies may increase their production for July, despite weaker global demand for fossil fuels.The price of crude is now well below the $80.53 a barrel average recorded last year, a fall that has helped to put pump prices at their lowest level in almost four years
Ministers said to be considering bill to wipe out British Steel’s debts
Ministers are reportedly considering legislation to relieve British Steel of debts that have risen to nearly £1bn, as the government considers how best to prepare the Scunthorpe steelworks for sale.The government took control of the business last month after it said its Chinese owner, Jingye Steel, planned to close the plant within days. The move required emergency legislation that was passed in a historic recall of parliament.Jingye remains the legal owner of British Steel, despite the takeover, and is owed money by the company. Those debts would probably have been wiped out in a liquidation
Government considers sale of Brexit border checkpoint in Kent – reports
The UK government is reportedly considering selling a post-Brexit border check facility in Kent that could fall out of use as a result of this week’s trade pact with the EU.The site, based in Sevington, Ashford, was erected in 2021 with capacity for 1,300 lorries that were expected to face extra checks on plants and animal goods, including dairy and meat, entering and leaving Britain after Brexit.However, the deal between the UK and EU struck earlier this week is expected to remove the need for routine health and veterinary certification on the import and export of farm products ranging from fresh meat and dairy products to vegetables, timber, wool and leather.The government is now looking for a company willing to buy or repurpose the Sevington border control point.Ministers are said to have approached Eurotunnel directly, according to the Financial Times
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England enforce follow-on as Zimbabwe close the day two down still 270 runs behind – as it happened
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