M&S cyberattack to cost retailer $400 millionPeople walk past a Marks & Spencer store.Sopa Images | Lightrocket | Getty ImagesBritish retail giant M&S said Wednesday that a recent cyberattack, which brought online sales to a standstill and left food shelves bare, would cost it around £300 million ($403 million) in operating profit.The company, known for its clothing, homeware and food products, said disruption from the “highly sophisticated and targeted cyber-attack” would run into July and result in increased stock management costs in the second quarter.It added that the financial impact would be reduced through management of costs, insurance and other…
Author: usaeverydaylife
A customer looks at goods on a shelf in a supermarket on January 15, 2025 in London, England. Dan Kitwood | Getty Images News | Getty ImagesThe U.K.’s annual inflation rate hit 3.5% in April, coming in above analyst expectations, according to data released by the Office for National Statistics (ONS) on Wednesday.Economists polled by Reuters had anticipated the consumer price index would reach 3.3% in the twelve months to April.The latest data release comes against a recent trend of cooling inflation, with the rate of price rises slowing to 2.8% in February and 2.6% in March.Core inflation, which excludes…
PLANO, Texas — The top-selling SUV in the United States will exclusively be offered as a hybrid model as part of a redesign of the RAV4 lineup, Toyota Motor announced Tuesday night.The world’s largest automaker said the 2026 Toyota RAV4 only will be offered as a hybrid or plug-in hybrid, eliminating a traditional gas engine in the vehicle for the first time. It will still have a 2.5-liter four-cylinder engine, but with hybrid technologies such as batteries and electric motors.Despite a slower-than-expected adoption of all-electric vehicles, automakers have looked to hybrid models — which combine electric vehicle technologies with traditional…
Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during the Computex conference in Taipei, Taiwan, on Tuesday, May 20, 2025. Annabelle Chih | Bloomberg | Getty ImagesU.S. export controls on artificial intelligence chips to China were “a failure”, Nvidia Chief Executive Jensen Huang said on Wednesday.”All in all, the export control was a failure,” Huang said adding, “The fundamental assumptions that led to the AI diffusion rule in the beginning, in the first place, has been proven to be fundamentally flawed.”The U.S. block on sales of advanced AI chips to China has forced companies there to buy semiconductors…
Former New York Gov. Andrew Cuomo.Pool | Getty Images News | Getty ImagesThe Justice Department is conducting a criminal investigation into former Gov. Andrew Cuomo, a leading contender in the New York City mayoral race, over his testimony to Congress last year, according to a person familiar with the matter.House Republicans had requested a federal investigation into Cuomo, a Democrat, arguing he lied to the House Oversight Committee last year when he said he hadn’t been involved in reviewing a report from the state Health Department about the state’s handling of the coronavirus pandemic when he was governor.A Justice Department spokesperson declined to…
Tesla Cybercab or Robotaxi two-passenger battery-electric self-driving car on display at the AutoSalon on Jan. 10, 2025 in Brussels, Belgium.Sjoerd Van Der Wal | Getty Images News | Getty Images One consequence of the tariff tumult caused by U.S. President Donald Trump over the past month is that investor enthusiasm over artificial intelligence has waned. Only three of the Magnificent Seven stocks — all of which have a finger in the AI pie — are positive this year, with Nvidia eking out a tiny 0.07% gain year to date.The dampened investor mood over AI — relative to the frenzy over…
A view of a Target store on March 5, 2025 in Novato, California.Justin Sullivan | Getty ImagesTarget will report its fiscal first-quarter earnings Wednesday, as the Minneapolis-based cheap chic retailer tries to get back to growth.Here’s what Wall Street is expecting for the discounter, according to a survey of analysts by LSEG:Earnings per share: $1.64 expectedRevenue: $24.32 billion expectedTarget’s earnings report will follow updates from other retailers, including Walmart and Home Depot. Both of the big-box retailers reaffirmed their full-year outlooks when reporting quarterly earnings. Yet the two companies diverged with how they will manage higher costs from tariffs. Walmart…
Bowl of white rice at Bamboo Sushi restaurant in San Ramon, California, January 23, 2022.Gado | Archive Photos | Getty ImagesJapan’s farm minister Taku Eto stepped down on Wednesday, domestic media reported, following public outrage over his comments on getting free rice.Eto said on Sunday that he has never had to buy rice as he received ample amounts of the grain as gifts from supporters — a comment that struck a nerve with locals struggling with rocketing prices of the beloved staple.Japan has been grappling with soaring rice prices for months as inclement weather and the country’s long-held policy to…
Canadian Finance Minister François-Philippe Champagne speaks at a press conference during the G7 Finance Ministers and Central Bank Governors’ Meeting in Banff, Alberta, Canada on May 20, 2025. Cole Burston/ | Afp | Getty ImagesFinance ministers from the Group of Seven industrial democracies will try to agree on policies to restore global growth and stability, Canadian Finance Minister Francois-Philippe Champagne said on Tuesday, acknowledging that tensions over new U.S. tariffs would continue.The meetings over the next two days in the mountain resort town of Banff, Alberta, will be about “back to basics” and will include discussions about excess manufacturing capacity, non-market practices and financial crimes, Champagne told a news conference.”I think…
Pedestrians walking across a crowded traffic at Shibuya crossing square in Tokyo, Japan.Jaczhou | E+ | Getty ImagesAsia-Pacific markets traded mostly higher Wednesday after Wall Street halted its six-day win streak.Japan’s benchmark Nikkei 225 slipped 0.23% after the country reported that exports slowed for a second straight month as the country reels under U.S. President Donald Trump’s sweeping tariffs.South Korea’s Kospi climbed 0.58% while the small-cap Kosdaq traded 0.95% higher.Australia’s benchmark S&P/ASX 200 climbed 0.43%.Hong Kong’s Hang Seng index rose 0.45% at the open, while mainland China’s CSI 300 traded flat.The Bank of Indonesia is also slated to release its…
