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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The UK government is backing the Tata Motors-owned luxury carmaker to help support suppliers and protect jobs as a production shutdown due to a cyber attack continues.
The UK government will back Jaguar Land Rover (JLR) with a £1.5 billion ($2 billion) loan guarantee to help support its suppliers after a cyber attack brought the luxury carmaker’s production across the UK, Slovakia, Brazil and India to a complete halt earlier this month.
The loan, provided by a commercial bank and guaranteed by the country’s export credit agency UK Export Finance, will be repaid over a period of five years, said the UK government. “This cyber-attack was not only an assault on an iconic British brand, but on our world-leading automotive sector and the men and women whose …
What began as an operational outage has turned into a data breach affecting employees (past and present), exposing governance gaps that could prove costly for the UK automaker and the Tata group.
From net debt-free to billions in bridge financing, the Iveco acquisition means the automaker’s commercial vehicles business begins its independent journey on fragile financial ground.
When it was announced, the split was a stellar idea. It still is for the most part, but the fundamentals have changed. What are investors getting into?
