Latest news with #DhanushVigneshBabu
The Star
23-05-2025
- Business
- The Star
Tata Consultancy Services carries out internal probe into M&S hack, FT reports
Figurines with computers and smartphones are seen in front of TCS: Tata Consultancy Services logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration (Reuters) -India's Tata Consultancy Services is conducting an internal investigation to determine whether it was the gateway for a cyberattack on UK's Marks and Spencer that compromised customer data and disrupted the retailer's operations, FT reported on Friday. The Indian IT company, which has provided services to M&S for more than a decade, hopes to conclude the probe by the end of the month, the report said, citing people familiar with the matter. Reuters could not immediately confirm the report. M&S declined to comment and TCS did not immediately respond to a Reuters request for comment. The cyberattack which M&S disclosed in April will cost the company about 300 million pounds ($404.9 million) in lost operating profit, and disruption to online services is likely until July. ($1 = 0.7409 pounds) (Reporting by DhanushVignesh Babu in Bengaluru; Editing by Mrigank Dhaniwala)
Reuters
07-05-2025
- Business
- Reuters
Rio Tinto extracts first gallium under collaboration with Indium
A view shows the Rio Tinto logo in Perth, Australia, April 19, 2025. REUTERS/Christine Chen Purchase Licensing Rights , opens new tab The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by DhanushVignesh Babu in Bengaluru; Editing by Vijay Kishore Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Business of Fashion
30-04-2025
- Business
- Business of Fashion
Shein Weighs US Restructuring as Tariff Risks Cloud London IPO
Fast-fashion retailer Shein is weighing a restructuring of its US operations as US President Donald Trump's tariffs on Chinese imports threaten to jeopardise its London IPO, the Financial Times reported on Wednesday. The US business, which generates roughly one-third of Shein's $38 billion annual revenue, is expected to face significant pressure as a tax exemption known as 'de minimis' is set to end this week, the report said. De minimis refers to the US waiver of standard customs procedures and tariffs on items worth less than $800 that are shipped to individuals from foreign countries. One option being considered is shifting production for the US market to countries outside China, the FT reported, citing two people familiar with the matter. Shein, which ships orders directly from Chinese warehouses to a buyer's home, has not taken a decision on any U.S. restructuring at the board level, the FT said, citing sources familiar with the company's thinking. Shein declined to comment to the FT and did not immediately respond to a Reuters request for comment. Reuters exclusively reported earlier this month that Shein, which sells $10 dresses and $12 jeans in more than 150 countries, had secured approval from Britain's Financial Conduct Authority (FCA) for its IPO. By DhanushVignesh Babu; Edited by Savio D'Souza Learn more: Chinese E-Commerce Exports Plummet in Face of Tariffs, Despite Rise in Sales to EU China's total e-commerce shipping plunged 65 percent by volume in the first three months of the year, but rose 28 percent in Europe.
