PRESS DIGEST- Financial Times - Nov 9

Nov 9 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

M&S retreats from overseas markets in store shake-up http://on.ft.com/2fBqgi5

Tesla buys German engineer for European expansion http://on.ft.com/2fBoQUT

Panama Papers yield leads for UK task force, says Hammond http://on.ft.com/2fBp6D9

Tesco Bank repays 2.5 mln stg to customers hit by cyber attack http://on.ft.com/2fBpu4z

Overview

Marks and Spencer Group Plc announced a store closure programme affecting one in 10 of its clothing stores in the UK and many overseas, in an effort to effect a turnaround in operations.

Tesla Motors Inc said it would buy German-based Grohmann Engineering in a bid to expand into Europe as it tries to scale up manufacturing for its mass-market Model 3 car.

More than 30 individuals and companies are under investigation for tax fraud and financial crime linked to revelations made in the Panama Papers, chancellor Philip Hammond said.

Tesco Bank, owned by retailer Tesco Plc said it would repay 2.5 million euros to the 9,000 customers who had money stolen in one of UK's biggest cyber heists over the weekend.

(Compiled by Abinaya Vijayaraghavan in Bengaluru; Editing by Sandra Maler)

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