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The 10 biggest business stories on Friday October 23

Monsoon Accessorize named and shamed for failing to pay 1,400 workers new minimum wage;  Metropolitan Police opens investigation after TalkTalk sustains a cyber attack ; HSBC is considering moving its headquarters from the UK

Zlata Rodionova
Friday 23 October 2015 09:19 BST
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Cyber attacks on the Government, the public and industry are at 'disturbing' levels, according to the director of Britain's biggest intelligence agency
Cyber attacks on the Government, the public and industry are at 'disturbing' levels, according to the director of Britain's biggest intelligence agency (PA)

1. Metropolitan Police opens investigation after TalkTalk sustains significant and sustained cyber-attack. Customers’ credit card and bank account details could have been stolen according to the firm.

2. Monsoon retailer has topped the latest government list of companies who failed to pay the minimum wage. The retailer failed to pay £104,508 to 1,438 workers.

3. HSBC is considering moving its headquarters from the UK, with the US as a possible alternative to Hong Kong according to the Financial Times.

4. Deutsche Bank has called the end of the property bubble according to Sahil Mahtani, author of a Deutsche report on the property sector. He argues that rising interest rates and the increasing “politicisation of the housing issue” means London's insane price rises can't continue.

5. Britain's biggest bookmaker William Hill said it expected full-year operating profit to be near the lower end of analysts' expectations after a weak third quarter.Net revenue fell 9 per cent in the 13 weeks to September 29 and operating profit slumped 39 per cent, the company said on Friday.

6. South Korea's economy expanded 2.6 per cent in the July-September quarter from a year ago, the fastest clip in three quarters, the Bank of Korea said Friday.

7. Myanmar’s jade trade, was worth as much as $31 billion in 2014, almost half of the Southeast Asian nation’s entire gross domestic product, according to a report released on Friday.

8. Twitter chief executive and co-founder Jack Dorsey has said he will give a third of his shares in the firm to employees. The total stock is worth about 1 per cent of the company, or $197 million (£128 million).

9. Alphabet, the new holding company for Google, reported a third-quarter net income of $4 billion, up from $2.7 billion a year earlier, mainly due to higher YouTube and mobile ad sales. A surprise announcement that it would buy back over $5 billion in shares sent its stocks to its highest-ever level in after-hours trading.

10. McDonald's shares hit an all-time high on Thursday after Chief Executive Steve Easterbrook said a rebound in quarterly restaurant sales showed that his turnaround plan is starting to work.

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