The 10 biggest business stories on Tuesday October 20

Tata Steel set to cut 1,200 jobs ; Deutsche Bank mistakenly sent $6 billion to a hedge fund client; Amazon said it is creating 100,000 seasonal jobs in the US

The German bank has set up a working group to review whether it should move parts of its business out of the UK (PA)

1. Tata Steel is set to announce later that 1,200 jobs are being cut at its plants in Scunthorpe and Lanarkshire. The industry blames cheap Chinese imports for a collapse in steel prices.

2. Deutsche Bank mistakenly sent $6 billion to a hedge fund client earlier this year as a result of a “fat finger” error, according to the Financial Times. The massive sum was repaid to Deutsche Bank the following day.

3. Credit Agricole said to be on verge of paying $787 million to US regulators for sanctions violations against Sudan, Iran and others.

4. Online fashion retailer Asos says that trading in its current financial year has “started well” and is forecasting sales growth of 20 per cent this year.

5. Premier Inn and Costa owner Whitbread profits rise of nearly 14 per cent tp £291.3 million. The company vowed to create 15,000 jobs within five years.

6. Amazon said it is creating 100,000 seasonal jobs in the US to meet increased customer demand during the holiday season.

7. Lufthansa is trying to end a pay dispute. The German airline said it had offered cabin crew additional retirement benefits if they worked beyond the age of 55 as well as wage increases.

8. Inga Beale, the Lloyd's of London chief executive, has topped an annual power list of the top 100 LGBT executives. It is the first time a woman, and a bisexual, has been placed at the top of the list, compiled by networking group OUTstanding and the Financial Times. The list aims to highlight positive lesbian, gay, bisexual and transgender role models in business.

9. Odeon & UCI Cinemas Group said online ticket sales for “Star Wars” set a record for the UK chain and caused booking delays at its website. The latest instalment may be one of the highest-grossing movies ever.10. Independent shops are disappearing from the high street at a faster rate than before after new figures show that the number or closures outstripped new openings in the first half of 2015.

10. Independent shops are disappearing from the high street at a faster rate than before after new figures show that the number or closures outstripped new openings in the first half of 2015.