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Jaguar Land Rover Scrambles to Contain Cyber Breach That Halted Production

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Jaguar Land Rover (JLR) said Friday it is working “at pace” to restore operations after a major cyber incident forced it to shut down systems, halting both retail and production activities. The breach, disclosed earlier this week, has left thousands of factory workers at home until at least Tuesday as the company attempts a controlled restart of global applications.

Owned by India’s Tata Motors, JLR stressed there is no evidence customer data has been stolen so far. The company described the attack as “severely disruptive” to its operations across its three British car plants, where it employs around 33,000 people, making it the UK’s largest automotive employer.

The disruption adds to JLR’s mounting challenges. The company already reported an 11% sales drop in July, partly due to a U.S. export pause after Trump’s car import tariffs, and has cut its 2026 profit margin target from 10% to 5%-7%. Like other European automakers, it also faces weak demand in China and slower sales in Europe.

The attack mirrors a global trend of escalating ransomware campaigns hitting household names. Earlier this year, Marks & Spencer estimated its own cyber breach cost about £300 million ($405 million) in lost profit. Analysts warn that JLR’s recovery could also come with significant financial fallout if disruptions stretch beyond next week.

Apple Leads Global Tech Rally After Trump Tariff Exemptions

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Global technology stocks surged Thursday after U.S. President Donald Trump announced that his proposed 100% tariffs on chips and semiconductors would largely exempt companies manufacturing in, or committed to manufacturing in, the United States.

Apple shares rose 2%, recovering most of their losses since April’s Liberation Day selloff, after Trump confirmed the company will invest an additional $100 billion in U.S. operations — a move that could shield iPhones from potential tariffs. Semiconductor suppliers and Apple partners, including Applied Materials, Texas Instruments, GlobalFoundries, and Broadcom, gained between 1.3% and 5.5%. Other U.S.-listed chipmakers also rallied, with AMD up 3.1% and Nvidia up 1.4%.

European chipmakers joined the rally, with ASML and ASMI rising more than 3% each and BE Semiconductor Industries up 4.7%. J.P. Morgan analysts noted that the proposed 100% tariff would not stack on top of the 15% baseline tariff agreed between the U.S. and EU last week, which includes zero-for-zero tariffs on semiconductor equipment.

Taiwan’s TSMC, which produces chips for most major U.S. tech firms, saw its shares hit an all-time high after gaining nearly 5%, buoyed by investor confidence in AI demand regardless of tariff risk. South Korea’s Samsung Electronics and SK Hynix, both with significant U.S. investments, rose 2.5% and 1.4%, respectively, after confirmation they would not face the 100% tariff.

However, not all markets benefited. The Philippines, where semiconductors account for 70% of electronics exports, warned the tariffs could be “devastating” and saw its stock market close slightly lower. Malaysia also requested clarity from U.S. trade officials on the tariff scope.

Ackman’s Pershing Square Bets Big on Amazon, Sells Out of Canadian Pacific

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Billionaire investor Bill Ackman has added Amazon to his Pershing Square Capital Management portfolio, marking a major move into the e-commerce and cloud giant. The decision comes as Trump-era tariffs appear less damaging than initially feared and Amazon’s valuation offered an attractive entry point after market turbulence in April.

Key Takeaways:

  • Amazon Stake: Pershing Square initiated a new position in Amazon, with Chief Investment Officer Ryan Israel saying the stock became affordable after a tariff-driven market selloff. The hedge fund believes Amazon’s earnings growth remains robust, and CEO Andrew Jassy’s leadership will help expand margins amid strong revenue growth.

  • Tariff Impact Minimal: Ackman’s team downplayed concerns over Trump’s import tariffs, suggesting Amazon’s retail earnings won’t be materially affected, and the cloud division (AWS) can weather any slowdown.

  • Strategic Portfolio Shift: To fund the Amazon investment, Pershing Square exited Canadian Pacific, one of Ackman’s historically profitable holdings. The move was made “with regret,” as Ackman remains bullish on the rail company’s long-term potential.

  • Other Changes:

    • New Positions: Stakes were also added in Hertz and Uber, broadening exposure to transport and mobility sectors.

    • Trims: Positions in Chipotle, Hilton, and Universal Music Group were reduced.

    • Nike Adjustment: Equity holdings in Nike were converted into deep-in-the-money call options, allowing continued exposure with less capital deployed.

Strategic Outlook:

Ackman’s Amazon bet signals growing confidence in tech and e-commerce resilience, particularly as U.S. trade policy evolves and inflation moderates. Meanwhile, the exit from Canadian Pacific—despite long-term optimism—reflects the need to rebalance capital toward higher-growth opportunities.

The move into Uber and Hertz also aligns with trends in urban mobility and travel rebound, while trimming strong performers like Chipotle and Hilton frees up capital amid rising valuations.