US EditionJaguar Land Rover Data Breach Sparks Regulatory Alert
Jaguar Land Rover's 28.6% drop in car production in September was a key factor in the UK’s GDP growth slowing to 0.1% in Q3, official data shows.
- The Office for National Statistics said this month UK GDP grew by 0.1% in the third quarter, missing City economists' forecast of a 0.2% rise.
- Jaguar Land Rover's production was halted after the hackers' cyberattack months ago, causing motor vehicle manufacture to plunge 28.6% month-on-month in September.
- Business investment slid by 0.3%, and a decline in the pharmaceutical industry compounded manufacturing output drops in Q3 this year.
- Fiscal officials warn that lower GDP means less tax revenue for the Exchequer and a bigger Treasury deficit, while the Chancellor is expected to raise taxes at the budget later this month as the Office for Budget Responsibility cuts growth estimates.
- Given a phased restart from 8 October, Capital Economics expects manufacturing to rebound but projects growth will slow to 1.2% next year.
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16 Articles
Jaguar Land Rover Data Breach Sparks Regulatory Alert
Jaguar Land Rover Data Breach Sparks Regulatory Alert Jaguar Land Rover, owned by Tata Motors, has notified regulators about a possible data breach following a cyberattack that severely disrupted its global manufacturing operations.The company's Chief Financial Officer, PB Balaji, revealed the breach during a financial briefing, expressing concern over potential customer data compromise. The attack, which began in August, affected key UK plants …
'A mid-level cyberattack against Jaguar Land Rover was enough to trip up the British economy'
COLUMN. The Office for National Statistics found that the British economy shrank by 0.1% in September due to a cyberattack that hit Jaguar Land Rover. This threat spares no country, writes Le Monde columnist Isabelle Chaperon.
How Jaguar Land Rover cyber attack drove UK economy's from green to red
We'll get to the actual economics in a moment - to the questions of why the economy is flatlining and what it means for Rachel Reeves' forthcoming budget. But before that, let's take a moment to ponder something rather extraordinary.
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