Government provides emergency funding after production shutdown.

The UK government announced a £1.5 billion loan guarantee for Jaguar Land Rover to support its supply chain following a cyberattack that shut down production lines in late August. The loan, backed by UK Export Finance and repayable over five years, aims to bolster cash reserves for a company that directly employs 34,000 people and supports 120,000 supply chain jobs. Some cybersecurity experts warn the bailout could incentivize criminals to target UK companies with weak security, especially as JLR reportedly failed to secure cyberinsurance before the attack.

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www.securityweek.com/cyberattack-on-jlr-prompts-1-5-billion-uk-government-intervention/