Vertu Motors warns of $7.4 million profit hit after JLR cyberattack

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Vertu Motors said it expects up to a 5.5 million-pound ($7.4 million) impact on annual profit following the Jaguar Land Rover (JLR) cyberattack that disrupted operations for nearly six weeks. The British car dealer’s shares fell 3.5% in early trading after the announcement.

JLR, owned by India’s Tata Motors, began restarting its systems this week after the incident crippled parts of its network. Vertu, which operates 10 JLR dealerships across the UK, said about 2 million pounds of the loss occurred in September, and the total effect will depend on how quickly JLR fully restores operations.

“We’re working with our insurers to assess a possible claim under our policy, which covers third-party system outages,” said CEO Robert Forrester.

Vertu noted that, excluding the cyberattack’s impact, it still expects annual pretax profit to align with market forecasts of around 27.2 million pounds. For the six months ending August 31, adjusted profit before tax stood at 20 million pounds, a nearly 10% decline from the previous year.

The incident highlights the growing financial risks of cybersecurity failures in the automotive industry, where interconnected supply chains leave dealerships and manufacturers increasingly exposed.

AI fintech Optasia to raise $375 million in Johannesburg listing

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AI-driven financial technology company Optasia announced plans to raise up to 6.3 billion rand ($375 million) through a listing on the Johannesburg Stock Exchange (JSE). The Dubai-based firm said the funds would come from a mix of new shares and a private placement of existing ones.

Optasia, which operates in 38 countries, will raise 1.3 billion rand in its initial public offering and an additional 5 billion rand through existing shareholders. The company is partly owned by Ethos Capital.

CEO Salvador Anglada said the IPO will help Optasia scale operations and “expand financial opportunity where it is needed most.” The fintech provides AI-powered micro-loans and mobile airtime credit to unbanked individuals, processing more than 32 million daily transactions for about 121 million users.

Founded in 2012, Optasia focuses on Africa, the Middle East, and Asia, working with telecom partners such as MTN, Vodacom, and Airtel.

Germany’s Helsing to buy Australian underwater drone firm Blue Ocean

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German defence startup Helsing announced plans to acquire Blue Ocean, an Australian manufacturer of underwater drones, as part of its strategy to expand into AI-powered maritime defense systems.

Helsing did not disclose the deal’s value but said Blue Ocean’s hardware and production expertise will be integrated with its own artificial intelligence technology to accelerate the development and scaling of autonomous underwater drones.

The company described the deal as a “strategic acquisition” that will enable faster deployment of autonomous gliders designed for naval intelligence, surveillance, and reconnaissance (ISR). “The need for a smart autonomous mass-approach is clear,” said Amelia Gould, Helsing’s maritime general manager.

The acquisition remains subject to court, regulatory, and shareholder approval, expected within four months.

The move comes amid growing European defense investments driven by the war in Ukraine. Other German firms, including Rheinmetall and Thyssenkrupp, are also expanding their naval operations through acquisitions and spinoffs.