Cyber crisis stings M&S shares for fourth week with the firm's value down by £1.3bn since the attack
Marks & Spencer shares plunged again as it entered the fourth week of its cyber crisis – with the firm's value dropping by £1.3billion since the attack.
The High Street retailer has had to suspend online fashion and homeware shopping following a hack thought to be the work of teenage criminals.
Some stores are lined with empty shelves as chaos from the attack over the Easter bank holiday continues.
M&S has been hit by an estimated £68million of lost online business. Shares fell 3.3 per cent yesterday.
This means they are down nearly 16 per cent since the attack.
Hackers named DragonForce claim to have stolen the data of millions of customers and said they are trying to force their victims to pay a ransom. It also says it hacked the Co-op and Harrods.
Justin Kuruvilla, at UK-based supply chain security specialist Risk Ledger, said it was tricky to predict when the website would be up and running again.
'The last thing M&S will want is to have overlooked a backdoor left open by the attackers that can then be used to regain entry,' he said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
20 minutes ago
- Telegraph
Reeves ploughs another £590m into over-budget Lower Thames Crossing
Rachel Reeves has announced she will spend £590 million of the Government's infrastructure fund on the Lower Thames Crossing, which is six years delayed and more than £3 billion over budget before construction has even begun. The Chancellor said 'critical funding' freed up in her spending review last week would be spent on the 'long-awaited' project, which at 2.6 miles will be the longest tunnel in the UK road network. The tunnel under the Thames Estuary, first proposed in 2009, is designed to reduce pressure on the Dartford crossing and will directly connect Essex and Kent. The project was originally expected to receive planning permission in 2020 and be completed by 2026, but has been delayed by six years amid a row over planning permission. The cost estimate for the tunnel has risen from £5.3 billion when it was first conceived to £9 billion, and is likely to be even more expensive by the time construction is completed in the early 2030s. More than £1.2 billion of public money has been spent on planning permission, legal fees and consultants. The injection of new funding comes from a £1 billion pot for transport infrastructure, which will also repair bridges, tunnels and flyovers across the UK. The Department for Transport (DfT) said that more than 3,000 bridges across the country are unable to support heavy vehicles, while the number of bridge collapses has soared. Ms Reeves said: 'When it comes to investing in Britain's renewal, we're going all in by going up against the painful disruption of closed bridges, crossings and flyovers, and ensuring they are fit to serve working people for decades to come. 'Today's investment also goes even further and faster to spread growth by providing to take forward the Lower Thames Crossing – not just boosting connectivity in the South East, but ensuring a smoother, less congested passage of vital goods from Europe to our regions.' The Lower Thames Crossing was pitched as a way of increasing capacity for vehicles driving around London, including heavy goods vehicles arriving in the UK from the EU. The Dartford Crossing has been over capacity almost every day for at least five years, other than during Covid-19 lockdowns. The bridge has a capacity of 135,000 vehicles a day, but carries more than 180,000 on its busiest days, according to DfT data. But the tunnel has faced local opposition from campaigners on both sides of the Thames Estuary, who argue it will lead to more freight traffic in previously quiet areas. Heidi Alexander, the Transport Secretary, said: 'We're finally getting on with the Lower Thames Crossing – a crucial project to drive economic growth that has been stuck in planning limbo for far too long. 'This project is essential for improving the resilience of a key freight route and is critical to our long-term trade with Europe. It will speed up the movement of goods from South East England to the Midlands and the North, crucial to thousands of jobs and businesses. 'Our structures fund will make long-overdue investments to repair ageing structures across the country, speeding up journeys, restoring pride and delivering our plan for change to boost the economy and support regional growth.'
Reuters
23 minutes ago
- Reuters
UK's Schroders makes four senior hires to sharpen focus on clients
LONDON, June 16 (Reuters) - British money manager Schroders (SDR.L), opens new tab has made four appointments to sharpen its focus on clients, as CEO Richard Oldfield continues to shake up the senior team in an effort to reboot its performance. Schroders has hired Matt Oomen from BNY Investments to be its global head of client group, while the role's incumbent Karine Szenberg will become executive vice chair, the company said. Both will sit on the group executive committee. The company has also promoted Gopi Mirchandani to head the client group in Asia, and Jason Yu to country head for Hong Kong, subject to regulatory approval. "Now is the optimal time to be strengthening our client relationship teams with Karine, Matt, Gopi and Jason all moving into new roles," Oldfield said in a statement.
Daily Mail
28 minutes ago
- Daily Mail
Mother dies in skydiving accident as partner watches in horror
The partner of a mother-of-four who died in a sky dive plunge has revealed how he watched in horror as it happened - after buying her the jump as a present. Grieving Scott Armstrong has paid tribute to 'adrenaline junkie' Belinda Taylor (pictured), 48, who died in what was called a 'tragic accident' at Dunkeswell Airfield in Devon. He has also demanded information about what caused the tragedy, which saw two people including Ms Taylor die on Friday afternoon and is now being probed by the British Skydiving Board of Inquiry. Ms Taylor, also a grandmother-of-two, from Totnes in Devon, is said to have fallen to her death during a 15,000ft dive alongside an instructor. Her partner Mr Armstrong has now written on social media: 'I want answers. Today, they took my world away.' He wrote: 'I miss you so much, you were my best friend, thank you for everything you done for me. From making my children feel at home to putting up with my mess. I'm so lost without you. There's just so much that I don't have the words to express it. I feel so lost i dont know where home is without you.' He has also described buying the sky dive jump experience for Ms Taylor as a 'thank you' gesture - and witnessed what happened it alongside his nine-year-old son. He told the Mirror : 'Belinda was my absolute world. She was so kind and giving and would do anything for anyone. 'My nine-year-old son recently came to live with us and she welcomed him with open arms and was brilliant. As a thank you present I decided to buy her the tandem skydive. She was absolutely buzzing about it. The plan was to do a 7,000ft jump, but at the last minute she said she wanted to do a 15,000ft one, so I paid the extra money. They were the last group to go up.' 'I was using binoculars and saw them all jump and noticed that one chute hadn't opened. I was freaking out. They disappeared from view. I jumped in my car with my lad and raced across the fields. I found Belinda and the instructor lying there, still together, both clearly dead. It was a horrific sight. I miss her so much. I'm so lost without her. She meant the world to all of us and we'll never forget her. She was an adrenaline junkie and an adventurer. She'd done kayaking and all sorts.' A friend told MailOnline that Mr Armstrong was 'not in a good place'. They said: 'He's absolutely devastated. He knows something's not right. He's not a silly boy, he knows when something's wrong. She had never done it before. It was something she always wanted to do so Scott paid for it for her. 'He's absolutely traumatised and that she's gone.' Meanwhile, other tributes to Ms Taylor have been given - with her eldest son Connor Bowles telling DevonLive : 'On Friday, June 13, our family lost our mum Belinda Taylor. She was a mother of four children, three adult boys and one teenage girl, and a grandmother to two young children. She was a selfless woman who wanted only the best for others and especially her loved ones. She will be deeply missed and will leave an everlasting impression on all those she has met in life. We as a family would like to ask for peace and privacy during this time whilst we grieve our loss and remember our mum as we should do.' Ms Taylor had three adult sons and a teenage daughter, as well as welcoming Mr Armstrong's nine-year-old son. Other witnesses who were at the site on Friday have described the scene, with one saying: 'My husband and I were there when this awful tragedy happened. He was all harnessed up ready to do the next jump when they cancelled it and evacuated the area. The emergency services arrived incredibly quickly. Such devastating news and heartfelt condolences to the families of both victims. He was all harnessed up ready to do the next jump when they cancelled it and evacuated the area. Another witness added: 'My husband and I were at the cafe waiting to be served when the cafe was told to close with no reason given. We left, rather disgruntled at missing out on our coffee. Surprising how things are put in to perspective when you know the facts. Our thoughts and condolences are with all those affected by this very sad tragedy.' British Skydiving chief executive Robert Gibson earlier posted online: 'Today, Friday 13 June 2025, British Skydiving has been notified of a tragic accident in which two jumpers lost their lives. Our deepest condolences go to their families, friends and the entire skydiving community. A British Skydiving Board of Inquiry will investigate the accident. Once complete, a report - setting out the Board's conclusions and any recommendations - will be submitted to the coroner, the police, the CAA, the British Skydiving Safety & Training Committee (STC) and any other relevant authorities. No further details will be provided at this time. We respectfully ask for privacy for all those affected at this difficult time.' Devon and Cornwall Police said: 'Emergency services were called to the area of Dunkeswell Aerodrome at around 1pm on Friday 13 June following concerns for the welfare of two people. 'It was reported that they were skydivers. They were sadly both confirmed deceased at the scene and their families have been informed. Scene guards remain in place and enquiries are ongoing by the relevant agencies. If anyone has information which may assist us, please call 101 or report via our website quoting 50250150193.' A spokesperson for the Civil Aviation Authority said: 'We are aware of the incident and of our thoughts are of course with the friends and family at this difficult time.' The CAA added they could not comment any further due to the ongoing investigation. They said: 'We will work closely with the relevant authorities to understand what happened and are awaiting the report into the incident.' It comes after a separate skydiver was feared to have taken her own life in a 10,000ft fall from the sky in Shotton Colliery, Co Durham. Jade Damarell (Pictured), 32, an experienced parachutist who had accomplished more than 400 jumps, died instantly after hitting the ground during a jump at the base . Police quickly ruled out any suspicious circumstances and were understood to have discovered notes disclosing her intentions. MailOnline understands that Ms Damarell, from Caerphilly, south Wales, had broken up with her boyfriend the day prior to taking to the skies.
