Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A suspected cyber attack has wiped almost \u00a3700mn off the value of Marks and Spencer, as the FTSE 100 retailer battles to restore its operations after almost a week of disruption. M&S told some customers on Monday that it did not know how long it would take to restart online orders, after the incident forced it to stop accepting orders of clothing and homewares on Friday last week. Meanwhile, about 200 agency staff at M&S\u2019s main online distribution centre in Leicestershire were told to stay at home, as there were fewer orders to fulfil. M&S\u2019s online sales of clothing and homeware amounted to \u00a31.27bn last year, equating to an average of about \u00a33.5mn a day. M&S shares dropped more than 2 per cent on Monday morning, extending their decline to 7 per cent since last Tuesday, when it first disclosed its IT systems had been disrupted. M&S\u2019s market value has dropped by \u00a3678mn in that time. The retailer has struggled to process contactless payments and has paused click-and-collect orders in stores. Some stores are no longer accepting product returns.The chaos threatens to disrupt a turnaround under chief executive Stuart Machin. The retailer, which reported adjusted pre-tax profit of \u00a3716.4mn last year, is expected to announce its full-year results on May 21.Cyber security experts said the episode at M&S bears the hallmarks of a ransomware attack, whereby cybercriminals steal data from a company or lock its IT systems in exchange for cash.\u00a0Andrew Northage, a partner at law firm Walker Morris, who has experience in cyber security law, said: \u201cYou can\u2019t rule out that it\u2019s something else but\u2009.\u2009.\u2009.\u2009it looks like a cyber attack\u201d. He added that M&S will try to establish why they\u2019ve been attacked and \u201cwhat the bad actors are looking for \u2014 is it ransom? is it publicity?\u201dM&S is one of several retailers to be the subject of a suspected cyber attack. Christmas sales at supermarket chain Wm Morrisons were disrupted badly by a cyber attack last year. Currys and JD Sports have both suffered attacks that breached customer data in recent years. M&S told customers last week that \u201cthere was no need for them to take any action\u201d, suggesting it believed their data was safe. The company declined to provide an update on the situation on Monday. Kate Calvert, an analyst at Investec, said that while M&S customers would experience \u201ca lot of short-term frustration\u201d, the cyber attack would probably not harm the company\u2019s brand in the long term. However, Calvert added, competitors would profit from M&S\u2019s problems in the meantime. \u201cIf you\u2019re about to go on holiday, and you\u2019re not getting [products] from M&S, you\u2019ll buy them somewhere else\u201d, she said. M&S has reported itself to the Information Commissioner\u2019s Office and is working with the National Cyber Security Centre to respond to the breach. All organisations have a duty to report breaches to the ICO within 72 hours of becoming aware of an incident.<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A suspected cyber attack has wiped almost \u00a3700mn off the value of Marks and Spencer, as the FTSE 100 retailer battles to restore its operations after<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-293984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/293984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=293984"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/293984\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=293984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=293984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=293984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}