Tag: Economy of the United Kingdom

BusinessGovernmentTechnology

UK Government May Soften Supplier Payment Regulations Following Industry Pressure

The UK government is reportedly reconsidering stringent payment regulations for large businesses following significant industry pushback. Proposed rules aimed at protecting small suppliers from late payments face potential dilution after corporate lobbying efforts.

Policy Reversal Under Consideration

The UK government is reportedly considering scaling back planned legislation that would shorten payment times for small suppliers, according to sources familiar with the matter. This potential policy shift comes after extensive lobbying from large corporations, which have warned that stricter payment terms could squeeze their cash flow and hamper economic investment.

by Darren Holt
AutomotiveBusinessCybersecurity

Jaguar Land Rover Cyber Attack Inflicts £1.9 Billion Economic Damage on UK

The August hack of Jaguar Land Rover has reportedly cost the UK economy £1.9 billion, affecting thousands of businesses. Production was halted for nearly six weeks, with losses potentially rising if recovery delays persist.

Massive Economic Impact from Cyber Incident

The August cyberattack on Jaguar Land Rover (JLR) has reportedly inflicted a staggering £1.9 billion (approximately $2.55 billion) blow to the British economy, according to a recent analysis. Sources indicate that over 5,000 organizations across the UK felt the ripple effects of this security breach, which forced a nearly six-week shutdown at the automaker’s production facilities.

by Oliver Keaton