Economic

Prolonged JLR shutdown threatens UK export targets

Jaguar Land Rover (JLR) has confirmed that its production halt will continue until at least Wednesday, 24 September, as it works to recover from a major cyberattack that disrupted its IT systems and paralysed production at the end of August.

JLR stated that the extension was necessary because forensic investigations were ongoing and the controlled restart of operations was taking longer than anticipated. The company stressed that it was prioritising a safe and stable restart and pledged to keep staff, suppliers, and partners regularly updated.

Reports suggest recovery could take weeks, impacting production and sales channels for an extended period. Approximately 33,000 employees remain at home as factory and sales processes are not fully operational, resulting in estimated losses of £1 billion in revenue and £70 million in profits.

The shutdown also poses risks to the wider UK economy, as JLR represents roughly four percent of British exports. The incident has renewed calls for the Cyber Security and Resilience Bill, which aims to strengthen defenses against digital threats to critical industries.

No official attribution has been made, but a group calling itself Scattered Lapsus$ Hunters has claimed responsibility. The group claims to have deployed ransomware and published screenshots of JLR’s internal SAP system, linking itself to extortion groups, including Scattered Spider, Lapsus$, and ShinyHunters.

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Cyberattack compromises personal data used for DBS checks at UK college

Bracknell and Wokingham College has confirmed a cyberattack that compromised data collected for Disclosure and Barring Service (DBS) checks. The breach affects data used by Activate Learning and other institutions, including names, dates of birth, National Insurance numbers, and passport details.

Access Personal Checking Services (APCS) was alerted by supplier Intradev on August 17 that its systems had been accessed without authorisation. While payment card details and criminal conviction records were not compromised, data submitted between December 2024 and May 8, 2025, was copied.

APCS stated that its own networks and those of Activate Learning were not breached. The organisation is contacting only those data controllers where confirmed breaches have occurred and has advised that its services can continue to be used safely.

Activate Learning reported the incident to the Information Commissioner’s Office following a risk assessment. APCS is still investigating the full scope of the breach and has pledged to keep affected institutions and individuals informed as more information becomes available.

Individuals have been advised to closely monitor their financial statements, exercise caution when opening phishing emails, and regularly update security measures, including passwords and two-factor authentication. Activate Learning emphasised the importance of staying vigilant to minimise risks.

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Openbank adds cryptocurrency trading for German customers

Openbank, Grupo Santander’s fully digital bank, now allows customers in Germany to buy, sell, and hold major cryptocurrencies, including Bitcoin, Ether, Litecoin, Polygon, and Cardano.

The service integrates seamlessly with existing investments, removing the need to transfer funds to other platforms. It also provides the protection of MiCA regulations and the backing of Santander.

Competitive fees of 1.49% per trade apply, with no custody charges, and the service will soon be available to customers in Spain. Over the coming months, Openbank plans to expand its portfolio and introduce new features, such as direct conversion between different digital assets.

The launch strengthens Openbank’s investment offerings in Germany, complementing its Robo Advisor and thousands of stocks, funds, and ETFs. It also includes an AI-powered broker platform providing target prices for European and US stocks.

Grupo Santander emphasises that the new crypto trading service responds to customer demand while broadening the bank’s range of innovative, technology-driven investment products.

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Indonesia’s sovereign wealth fund INA targets data centres and AI in healthcare

The Indonesia Investment Authority (INA), the country’s sovereign wealth fund, is sharpening its focus on digital infrastructure, healthcare and renewable energy as it seeks to attract foreign partners and strengthen national development.

The fund, created in 2021 with $5 billion in state capital, now manages assets worth around $10 billion and is expanding its scope beyond equity into hybrid capital and private credit.

Chief investment officer Christopher Ganis said data centres and supporting infrastructure, such as sub-sea cables, were key priorities as the government emphasises data independence and resilience.

INA has already teamed up with Singapore-based Granite Asia to invest over $1.2 billion in Indonesia’s technology and AI ecosystem, including a new data centre campus in Batam. Ganis added that AI would be applied first in healthcare instead of rushing into broader adoption.

Renewables also remain central to INA’s strategy, with its partnership alongside Abu Dhabi’s Masdar Clean Energy in Pertamina Geothermal Energy cited as a strong performer.

Ganis said Asia’s reliance on bank financing highlights the need for INA’s support in cross-border growth, since domestic banks cannot always facilitate overseas expansion.

Despite growing global ambitions, INA will prioritise projects directly linked to Indonesia. Ganis stressed that it must deliver benefits at home instead of directing capital into ventures without a clear link to the country’s future.

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Miljodata hack exposes data of nearly 15% of Swedish population

Swedish prosecutors have confirmed that a cyberattack on IT systems provider Miljodata exposed the personal data of 1.5 million people, nearly 15% of Sweden’s population. The attack occurred during the weekend of August 23–24.

Authorities said the stolen data has been leaked online and includes names, addresses, and contact details. Prosecutor Sandra Helgadottir said the group Datacarry has claimed responsibility, though no foreign state involvement is suspected.

Media in Sweden reported that the hackers demanded 1.5 bitcoin (around $170,000) to prevent the release of the data. Miljodata confirmed the information has now been published on the darknet.

The Swedish Authority for Privacy Protection has received over 250 breach notifications, with 164 municipalities and four regional authorities impacted. Employees in Gothenburg were among those affected, according to SVT.

Private companies, including Volvo, SAS, and GKN Aerospace, also reported compromised data. Investigators are working to identify the perpetrators as the breach’s scale continues to raise concerns nationwide.

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First quantum-AI data centre launched in New York City

Oxford Quantum Circuits (OQC) and Digital Realty have launched the first quantum-AI data centre in New York City at the JFK10 facility, powered by Nvidia GH200 Grace Hopper Superchips. The project combines superconducting quantum computers with AI supercomputing under one roof.

OQC’s GENESIS quantum computer is the first to be deployed in a New York data centre, designed to support hybrid workloads and enterprise adoption. Future GENESIS systems will ship with Nvidia accelerated computing and CUDA-Q integration as standard.

OQC CEO Gerald Mullally said the centre will drive the AI revolution securely and at scale, strengthening the UK–US technology alliance. Digital Realty CEO Andy Power called it a milestone for making quantum-AI accessible to enterprises and governments.

UK Science Minister Patrick Vallance highlighted the £212 billion economic potential of quantum by 2045, citing applications from drug discovery to clean energy. He said the launch puts British innovation at the heart of next-generation computing.

The centre, embedded in Digital Realty’s PlatformDIGITAL, will support applications in finance, security, and AI, including quantum machine learning and accelerated model training. OQC Chair Jack Boyer said it demonstrates UK–US collaboration in leading frontier technologies.

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AI will kill middle-ground media, but raw content will thrive

Advertising is heading for a split future. By 2030, brands will run hyper-personalised AI campaigns or embrace raw human storytelling. Everything in between will vanish.

AI-driven advertising will go far beyond text-to-image gimmicks. These adaptive systems will combine social trends, search habits, and first-party data to create millions of real-time ad variations.

The opposite approach will lean into imperfection, featuring unpolished TikToks, founder-shot iPhone videos, and authentic and alive content. Audiences reward authenticity over carefully scripted, generic campaigns.

Mid-tier, polished, forgettable, creative work will be the first to fade away. AI can replicate it instantly, and audiences will scroll past it without noticing.

Marketers must now pick a side: feed AI with data and scale personalisation, or double down on community-driven, imperfect storytelling. The middle won’t survive.

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3D figurine craze takes off with Google Gemini update

Google’s Gemini latest update has sparked a social media craze by allowing users to transform 2D photos into lifelike 3D figurines. The feature, part of Gemini 2.5 Flash Image, has quickly become the standout trend from the update.

Instead of serving as a photo-editing tool, Gemini now helps users turn selfies, portraits, and pet photos into stylized statuettes. The images resemble collectable vinyl or resin figures, with smooth finishes and polished detailing.

The digital figurine trend blends personalisation with creativity, allowing users to reimagine themselves or loved ones as miniature display pieces. The playful results have been widely shared across platforms, driving renewed engagement with Google’s AI suite.

The figurine generator also complements Gemini’s other creative functions, such as image combination and style transformation, which allow users to experiment with entirely new aesthetics. Together, these tools extend Gemini’s appeal beyond simple photo correction.

While other platforms have offered 3D effects, Gemini’s version produces highly polished results in seconds, democratising what was once a niche 3D modelling skill. For many, it is the most accessible way to turn memories into digital art.

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UN to train governments in blockchain and AI

The UN Development Programme (UNDP) plans to launch a ‘Government Blockchain Academy’ next year to educate public sector officials on blockchain, AI, and other emerging technologies.

The initiative aims to help governments leverage tech for economic growth and sustainable development.

The academy will partner with the Exponential Science Foundation, a non-profit promoting blockchain and AI. Training will cover financial services, digital IDs, public procurement, smart contracts, and climate finance to help governments boost transparency, inclusion, and resilience.

UNDP officials highlighted that developing countries, including India, Pakistan, and Vietnam, are already among the leading adopters of crypto technology.

The academy will provide in-person and online courses, workshops, and forums to guide high-impact blockchain initiatives aligned with national priorities.

The programme follows last year’s UNDP blockchain academy, created in partnership with the Algorand Foundation, which trained over 22,000 staff members to support sustainable growth projects in participating countries.

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Hong Kong to speed up tech hub plan with China

One of S.A.R. of China, Hong Kong, is preparing to accelerate its cross-border technology hub plans with mainland China as the city seeks new growth drivers to offset its fragile economy.

Chief Executive John Lee is set to deliver his annual policy address on Wednesday, with the Northern Metropolis project expected to take centre stage.

The initiative aims to transform a sparsely populated area into a base for advanced industries and innovation, while reducing reliance on finance and real estate.

According to state-owned media, the government will ease financing rules to attract companies in AI, renewable energy and medical technology.

An urgency that comes despite signs of recovery, as the economy of Hong Kong grew at its fastest pace in over a year last quarter. Yet home prices continue to fall, unemployment has risen, and public finances remain stretched.

The administration is unlikely to offer sweeping property incentives, such as tax cuts or looser rules for mainland buyers, given fiscal constraints. Instead, it may revive the long-dormant Tenants Purchase Scheme, first launched in 1998, which allows public housing tenants to buy their flats at reduced prices.

Analysts say that without bold reforms, the housing market will stay under pressure as oversupply and weak sentiment weigh on values.

Hong Kong’s $7.2 trillion stock market could benefit if new listings and inflows are encouraged, especially as developers look to stimulus and lower mortgage rates to support sales.

However, with the economy of China also slowing down, doubts remain over whether deeper integration and technology investments can provide a lasting boost.

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