US EditionJLR Hack Attack Cost Midland Car Giant Nearly £200 Million - Birmingham Live
- On September 1, Jaguar Land Rover halted production across its UK factories for five weeks, booking £196 million in extra costs linked to the cyber attack.
- The cybersecurity breach coincided with other pressures including US tariffs and a planned wind-down of previous Jaguar models, with hackers targeting JLR systems a day before the September 1 stoppage.
- Quarter-to-September results show steep declines in sales and profitability as revenues fell by more than £1 billion, around 24%, to £4.9 billion and the group swung to an underlying loss of £485m, down from a prior-year profit of nearly £400m.
- All of the group’s manufacturing sites—including Solihull and Halewood—restarted operations last month, with suppliers warning many could collapse without rapid trading resumption as the company said it has made strong progress.
- Research from the Cyber Monitoring Centre indicates around 5,000 businesses were hit, and analysts estimate the incident cost the UK nearly £200 million, the most damaging hack to date.
16 Articles
16 Articles
UK Economic Growth Slows to 0.1% After Sharp Drop in Car Production Linked to JLR Cyber-Attack
UK economic growth slowed to 0.1% in the July-to-September period, falling short of the 0.2% expected by analysts, according to figures from the Office for National Statistics (ONS). The slowdown comes less than two weeks before Chancellor Rachel Reeves delivers a Budget in which tax increases are widely anticipated. Reeves has repeatedly identified growth as her top priority. The ONS reported a “marked” fall in car production in September follo…
UK Economic Slowdown Intensifies Recession Fears Before Budget
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/uk-economic-slowdown-intensifies-recession-fears-before-budget/Britain faces mounting recession concerns as new data reveals weak growth and rising unemployment ahead of its autumn budget. Nigel Green, chief executive officer (CEO) of the deVere Group, issued this warning. Official figures show the United Kingdom (UK) economy grew just 0.1% last q…
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