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Financial Effects of Jaguar Hack Show Up in U.K., U.S. and India

By Kim S. Nash

 

Hello. Early fallout from the hack of carmaker Jaguar Land Rover shows hits in a variety of places. 

Ratings firm S&P Global on Thursday cut its outlook for parent company Tata Motors Passenger Vehicles to "negative" in part based on "prolonged operational disruption" at JLR.

Production was disrupted for five weeks after the cyberattack and still isn't at full capacity. S&P forecasts a drop in revenue of 15% to 18% for JLR's fiscal 2026. JLR is due to report quarterly financial results in November.

Visteon, a U.S. vehicle electronics provider, said Thursday that downtime at JLR contributed to a 6% decline in sales for its third quarter. As we reported Monday, British chip maker Ensilica, another supplier to JLR, cut revenue expectations by about $6.7 million, citing lower orders because of a cyberattack at a client.

U.K. car production overall was down 36% in September after the JLR incident, the Times reported. The Cyber Monitoring Centre, a nonprofit group that analyzes big cyberattacks, estimated that the incident touched 5,000 organizations and is likely to cost the U.K. economy £1.9 billion, or $2.5 billion. More here on how the center modeled financial consequences. 

More news below.

 

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CONTENT FROM: ZSCALER
Why CIOs Are Adopting A Cafe-like Branch Architecture

Ransomware attacks often start with one compromised user — a single user in a branch can infect everything on your network. This is facilitated by an underlying design principle of MPLS and SD-WAN — lateral movement. Zscaler CEO Jay Chaudhry explains why CIOs are embracing cafe-like branches to stop ransomware, increase business agility and reduce cost.

It’s time to embrace cafe-like branches

 

More Cyber News

PHOTO: VEEAM SOFTWARE

Data-recovery vendor Veeam Software plans to buy security provider Securiti AI in a $1.73 billion deal expected to close late this year. With the acquisition of the San Jose, Calif.-based company, Veeam aims to help companies maintain the integrity of their data, especially information fed into AI projects, said Veeam CEO Anand Eswaran. 

Consumers seek $2.36 billion from Google for collecting their data. After winning a privacy case against Google in September, the plaintiffs have asked a federal judge in San Francisco to force the company to disgorge an estimated $2.36 billion in profits it made from their data. This is on top of $425 million a jury awarded the consumers. (Reuters)

Toys “R” Us Canada is notifying customers of a data breach it discovered in July when the retailer "became aware" of a post on the dark web offering to sell the information.

  • The company said the data came from its customer database and includes names, addresses, email addresses and phone numbers. (Bleeping Computer)
36%

Percentage of 762 tech professionals who said that after a mobile-security incident, their organizations saw cyber insurance penalties such as higher premiums, reduced coverage or denied claims, according to new research from Verizon. 

 

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About Us

The WSJ Pro Cybersecurity team is Deputy Bureau Chief Kim S. Nash and reporters Angus Loten, James Rundle and Catherine Stupp. Follow us on X @WSJCyber. Reach the team by replying to any newsletter you receive or by emailing Kim at kim.nash@wsj.com.

 
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