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Tech outage likely to cost retailers $70 million

Posted On: Jul. 12, 2019 6:20 AM CST

Telstra Australia

Dominique Lamb, chief executive of Australia's retail association, said that a tech outage at telecom company Telstra Corp. Ltd. on July 11 is likely to cost retailers up to $100 million Australia ($70 million), The Sydney Morning Herald reported. The outage disrupted operations at banks and affected card payment services at several retailers.

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