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Government to guarantee £1.5bn Jaguar Land Rover loan after cyber shutdown
The government will underwrite a £1.5bn loan guarantee to Jaguar Land Rover (JLR) in a bid to support its suppliers as a cyber attack continues to halt production at the car maker. Business Secretary Peter Kyle said the loan, from a commercial bank, would protect jobs in the West Midlands, Merseyside and across the UK….
US and Asia stocks slide as AI jitters persist
A burst of solid business news in the US was supposed to calm markets, which have been in retreat in recent weeks. But strong sales at artificial intelligence (AI) chip giant Nvidia and the world’s largest retailer Walmart, better-than-expected hiring in September, and even a pickup in home sales have so far done little to…
Call for probe into possible market abuse in Budget run-up
Shadow chancellor Mel Stride has called for the UK’s financial regulator to investigate “possible market abuse” by people working in the Treasury and Downing Street in the run-up the Budget. The move comes as Chancellor Rachel Reeves denied she misled the public over the state of the country’s finances, after it emerged she and officials…
Learner drivers face 24-week wait as backlog continues for two more years
Pritti MistryBusiness reporter Getty Images The backlog of driving tests grew after the covid-19 lockdown Learner drivers face months of delays booking practical tests because a backlog will not be cleared until November 2027, a watchdog has warned. The National Audit Office (NAO) said there was a backlog of 1.1 million tests that were not…
Sunak rejects claims Covid loan scheme open to excessive fraud
The former chancellor Rishi Sunak has defended his pandemic-era Bounce Back Loan scheme against accusations that it was subject to excessive levels of fraud. He said he was aware of the risks, but given the need for speed, he would do the same again. Bounce back loans (BBLs) offered small businesses up to £50,000 with…
