News Summary

• The U.K. government has confirmed it will guarantee a commercial bank loan of £1.5 billion ($2 billion) for car-making giant Jaguar Land Rover.
• The government-backed loan will “bolster JLR’s cash reserves so it can support its supply chain which has been greatly impacted by the shutdown.” JLR shut down its network on August 31 after detecting hackers in its system.
• JLR is said to have lost some £50 million as a result of the shutdowns.