FedEx's TNT Reels From June Cyberattack as Damage Lingers
- Business’s IT systems may never fully recover from Petya hack
- Courier says it doesn’t have insurance coverage for disruption
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FedEx Corp.’s TNT unit is still slogging through some transactions by hand and information systems may never fully recover from a June cyberattack that is expected to deal a blow to earnings.
The shares fell the most in two months after the courier said customers continue to experience widespread service and invoicing delays. While TNT facilities are functioning, they have been forced to rely on manual processes for a significant portion of operations, FedEx said in a statement Monday.