Thursday 15 October

The European Court of Justice has issued a strict ruling requiring banks to reimburse phishing victims within one working day, even when gross negligence is suspected. Financial institutions may now only withhold funds if they possess concrete evidence of the customer’s personal involvement in fraud. Read more →

The Dutch supermarket giant Albert Heijn is struggling to restore operations following a major cyber-attack that shuttered its digital systems. While physical stores are receiving fresh stock, the retailer has suspended all online grocery deliveries for the duration of the week. Read more →

Lufthansa is in advanced talks to complete a full takeover of TAP Air Portugal, having initially secured a 49.9% stake for $1.2 billion. This move deals a blow to Air France-KLM, which had hoped to use the acquisition to bolster its connectivity to the South American market. Read more →

Navigation firm TomTom is cutting 200 jobs as it attempts to pivot toward automated driving and AI-driven mapping. The restructuring follows a difficult financial period, with the company reporting a 44% drop in third-quarter net profits. Read more →

A 1907 masterpiece by Wassily Kandinsky has fetched 32 million euros at auction after being returned to the heirs of a Jewish family in Amsterdam. The painting had been looted by the Nazis during World War II before being formally identified as stolen property in 2023. Read more →