Jaguar Land Rover cyberattack is costliest in UK's history

Summary

Marketplace Morning Report: "Jaguar Land Rover cyberattack is costliest in UK's history"

Podcast: Marketplace Morning Report
Date: October 22, 2025
Host: William Lee Adams (Marketplace/BBC World Service)
Duration Covered: ~07:20 minutes (excluding ads and promo spots)

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Overview

This episode delivers a succinct roundup of significant overnight business and economic news, with a central focus on the aftermath of a massive cyberattack targeting Jaguar Land Rover (JLR). The discussion covers the staggering economic fallout, cyber risk trends impacting other brands, and snapshot updates on European transportation, commodities, and Cuba's struggling tourism sector. The tone is brisk, journalistic, and fact-driven, offering insights designed to get listeners quickly up to speed.

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Main Segment: Jaguar Land Rover Cyberattack

Key Facts and Cost Estimates

• The cyberattack on Jaguar Land Rover has become the most expensive in UK history, costing an estimated $2.55 billion.
• This figure was calculated by the Cyber Monitoring Centre (CMC), a group of independent cyber researchers using public data, industry analysis, and supply chain surveys.

Notable Quotes & Insights

On the CMC's methodology:

• "They know their onions. And what they've done is they've looked at all the publicly available information and they've carried out surveys of some of the impacted people in the supply chain of JLR."
  — Joe Tidey, BBC Cyber Reporter [01:33]

• The estimate assumes JLR will return to normal production by January 2026. There's uncertainty over potential ransom payments or whether negotiations with hackers are ongoing, which could escalate total costs further.

On company transparency:

• "JLR hasn't said at all how much this is costing. They haven't said very much at all actually about the cyber attack. They've just called it...a cyber incident."
  — Joe Tidey [01:51]

Attribution of the Attack and Trends

On who is responsible:

• "No, not yet. We have no idea who it is, but it certainly looks like a criminal attack aiming to money out of JLR."
  — Joe Tidey [02:28]

On broader trends:

• Other UK brands recently hit by cyberattacks include:
  • Marks and Spencer (major department store/food retailer)
  • Gucci, Alexander McQueen, and other luxury brands (primarily data theft)
  • Qantas in Australia, and multiple U.S. companies [02:43–03:14]
• "It's been a pretty bad year so far for corporations being attacked."
  — Joe Tidey [02:52]

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Additional News Bites

Eurostar’s New Double Decker Trains

• Eurostar has ordered the Channel Tunnel's first double-decker high-speed trains ("Celestia") from Alstom:
  • 30 trains ordered, with an option for 20 more
  • First six trains expected in service by 2031
  • Expansion to Geneva and Frankfurt underway
  • For the first time, Eurostar faces potential direct competitors [03:17–03:56]

Brief Global Markets & Business Updates

• Gold: After a historic rally, gold prices dropped 6.3% to below $4,100/ounce—a decade-record swing.
• Popmart: Chinese toymaker sees shares jump 5.5% after reporting a 250% YoY sales increase, thanks to “miniature Labubus” products.
  [03:56–04:15]

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Special Report: Cuba’s Tourism Industry Crisis

State of the Sector

• Despite aggressive hotel construction, Cuba’s tourism numbers are dwindling; the government blames the U.S. embargo for billions in lost economic value, while many locals fault government mismanagement and corrupt priorities.

Tourism Minister's Viewpoint:

• "Tourism in Cuba is alive and kicking from the intensity and the pressure of an economic war launched by the main source of tourists in the world, the United States."
  — Juan Carlos Garcia Granda, Minister of Tourism [04:54]
• "In Trump's first term, they took 263 measures against Cuba, the majority designed to destroy Cuban tourism. Take for example the ban on cruise ships... We'd perhaps have a million more visitors a year."
  — Juan Carlos Garcia Granda [05:26]

Local Residents’ Perspective:

• The controversial K Tower Hotel in Havana—tallest building on the island—seen by some as wasteful:
  • "I'd have used the money for other ends, for things we really need, like new hospitals."
    — Dayanis, Havana student [06:19]
  • "Engineering-wise it shows progress, but given our current circumstances, most people aren't happy with how they've spent the funds."
    — Sabrina, architecture student [06:39]

Minister's Response:

• "There may be some indignation on the streets, but people are not frustrated. They're still fighting, they're still working. They're still trying to help."
  — Juan Carlos Garcia Granda [07:06]

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Timestamps for Key Segments

• Jaguar Land Rover cyberattack intro & scope: [00:54–03:16]
• Eurostar double decker train announcement: [03:17–03:56]
• Markets update: [03:56–04:45]
• Cuba tourism deep-dive: [04:45–07:16]

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Memorable Moments

• "They know their onions." — Joe Tidey, encapsulating CMC’s expertise [01:33]
• Students and residents candidly critiquing Cuba’s priorities regarding the K Tower [06:19–06:49]

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Tone

• Crisp, concise, and informative—mirroring a classic morning business briefing. Quotes maintain the speakers’ straightforward, factual style, peppered with moments of colloquialism.

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Conclusion

This episode offers a punchy yet in-depth overview of costly cyber risks to business, emerging tech in European transit, and the complexities of Cuba’s economic strategy. It’s essential listening for anyone needing an efficient yet rich news catch-up on global business stories as the day begins.

Transcript

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[William Lee Adams]

A cyber attack stopped the wheels rolling for an iconic British brand and may have cost it billions. Live from the uk, this is the Marketplace War. Welcome to this report from the BBC World Service. I'm William Lee Adams. Good morning. We start here in the UK, where experts say the recent cyber attack on Jaguar Land Rover has cost the automaker around $2.55 billion. That estimate from the Cyber Monitoring center, or CMC, makes it the costliest cyber incident in the country's history. The BBC's Joe Tidey joins me now. Joe, hi.

[Joe Tidey]

Hi.

[William Lee Adams]

How did the CMC arrive at this big figure of $2.55 billion?

[Joe Tidey]

Well, they're an independent research group and they are staffed by some pretty expert cyber researchers. So they know their onions. And what they've done is they've looked at all the publicly available information and they've carried out surveys of some of the impacted people in the supply chain of jlr. And they have done their own kind of industry analysis to try and get this figure because of course, JLR hasn't said at all how much this is costing. They haven't said very much at all actually about the cyber attack. They've just called it, I think they're still calling it a cyber incident. So there are a lot of kind of caveats which the CMC admit. So, for example, they are basing it on the idea that JLR will be back to fully functioning, churning out cars in the thousands per week by about January 2026. And we don't know whether or not JLR is negotiating with the hackers or whether or not they've paid any money to the hackers, which will add on potentially another, you know, tens of millions of dollars on the ransom.

[William Lee Adams]

Have investigators figured out who those hackers are?

[Joe Tidey]

No, not yet. We have no idea who it is, but it certainly looks like a criminal attack aiming to money out of jlr.

[William Lee Adams]

And JLR isn't the only major brand that's had to cope with a major cyber attack lately. Who else has been affected?

[Joe Tidey]

There was this wave of high profile cyber attacks on UK retailers. So there's Marks and Spencer, which is a sort of department store chain and retailer of food. They've had it the worst of the year apart from jlr. So yeah, it's been a pretty bad year so far for corporations being attacked. There's also been a lot of data theft attacks on, for example, Gucci, Alexander, McQueen and other retailers as well. Plus some attacks on Qantas in Australia and lots of other U.S. airlines and companies.

[William Lee Adams]

Joe, thanks for joining us on Marketplace.

[Joe Tidey]

Thank you.

[William Lee Adams]

Eurostar has ordered what are set to be the first double decker high speed trains to run through the Channel Tunnel connecting the UK and mainland Europe. Double decker trains are common in France and some other European countries, but not in Britain. Here's the BBC's Katie Alston.

[Katie Alston]

Eurostar says it has ordered 30 of the new trains called Celestia, from the manufacturer Alston, with the option for 20 more. The first six would start being used in 2031. Eurostar's expansion plans include adding new routes to Geneva and Frankfurt. Several other companies have said they want to start cross channel services, meaning Eurostar would have direct competitors for the first time.

[William Lee Adams]

Katie Austin, let's do the numbers. After its historic rally, gold plunged as much as 6.3% to just under $4,100 an ounce. That's its sharpest one day drop in over a decade. And shares of Chinese toymaker popmar are up 5.5% after news that sales climbed 250% year on year, driven by the release of miniature Labubus. Cuba has long been reliant on its tourism industry to generate much needed foreign currency reserves. But despite an ambitious hotel building plan, the number of visitors has dwindled. Cuba's government estimates that the US Embargo has caused billions of dollars worth of damage to the economy. But many on the island also blame government mismanagement. The BBC's will grant reports.

[Will Grant]

The BBC had the rare opportunity to discuss the health of the industry with the island's tourism minister, Juan Carlos Garcia Granda I'm.

[Juan Carlos Garcia Granda]

Not a doctor, but what I can say is tourism in Cuba is alive and kicking from the intensity and the pressure of an economic war launched by the main source of tourists in the world, the United States. We face obstacles unlike any of our competitors.

[Unidentified Cuban Official]

We will enforce the ban on tourism. We will enforce the embargo.

[Will Grant]

Broadly, he's referring to the decades long US Economic embargo on Cuba, but specifically he means a range of newer sanctions under the Trump administration.

[Juan Carlos Garcia Granda]

In Trump's first term, they took 263 measures against Cuba, the majority designed to destroy Cuban tourism. Take for example, the ban on cruise ships. What would Cuban tourism look like if we could still count on the cruise ships? We'd perhaps have a million more visitors a year.

[Will Grant]

But not all the decisions affecting the health of Cuban tourism have been taken in Washington.

[Local Havana Resident]

At the corner of 23 and L in Havana is a new landmark, the K Tower, the tallest building on the island, a 42 floor five star hotel meant to define the cutting edge of the tourism experience in Cuba. For many local residents, it's simply a gaudy and expensive symbol of the revolution's economic mismanagement.

[Will Grant]

There are plenty of other hotels in Havana and it doesn't fit in with its surroundings, says student Dayanis. I'd have used the money for other ends, for things we really need, like new hospitals. I see some positive and negative points, says Sabrina, who's studying architecture. Engineering wise it shows progress, but given our current circumstances, most people aren't happy with how they've spent the funds. I put those complaints to the Cuban tourism minister, asking him if he could appreciate that people are growing increasingly frustrated amid nationwide blackouts at seeing new five star hotels in Havana Savannah with their lights blazing.

[Juan Carlos Garcia Granda]

There may be some indignation on the streets, but people are not frustrated. They're still fighting, they're still working. They're still trying to help.

[Will Grant]

I'm the BBC's Will Grant for Marketplace.

[William Lee Adams]

And in the UK I'm William Lee Adams with the Marketplace Morning Report from the BBC World Service.

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