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US says ‘all options’ on table to help stabilise Argentina’s fiscal turmoil
Posted onGetty Images US Treasury Secretary Scott Bessent has said the US is “ready to do what is needed” to help stabilise Argentina’s escalating financial turmoil. “All options for stabilization are on the table,” Bessent wrote on social media, calling Argentina a “systematically important US ally in Latin America”. The message helped to calm financial markets,…
River Island allowed to shut shops to stave off collapse
Posted onRachel Clun Business reporter, BBC News Getty Images River Island has been given the green light to close 33 stores across the UK after the High Court approved the fashion retailer’s restructuring plans. The High Street brand said a customer shift towards online shopping and higher operating costs had contributed to multi-million pound losses. It…
Formula 1 tech used to improve train Wi-Fi on GWR
Posted onLaura CressTechnology reporter GWR Some of the Great Western Railway fleet will use a hybrid system including low earth orbit satellites in space to create a more-reliable wi-fi connection A new UK-first pilot scheme is aiming to create fast and more reliable train wi-fi, using technology originally developed for Formula 1 cars. It will see…
Jaguar Land Rover restarts some IT systems after cyber-attack
Posted onJaguar Land Rover (JLR) says it has begun a “phased restart” of its operations with parts of its IT system back up and running. The company said it was “working to clear a backlog of payments” to suppliers as it now had increased its processing capacity for invoicing. The carmaker’s production lines have been suspended…
Walmart becomes first retailer to hit $1tn market value
Posted onWalmart is the biggest brick-and-mortar retailer in the US and is known for its low prices. It has benefited from a trend of higher earners trading down to lower-priced items, as the jobs market cools and inflation persists. Its speedy home delivery offering has also enticed shoppers from households across income brackets.
