Business
Jaguar Land Rover says some IT systems back online after major cyber attack
Jaguar Land Rover (JLR) has said parts of its IT systems are back online amid a “phased restart” of its operations following a major cyber attack.
The British carmaker has paused production at its UK factories for several weeks after being targeted by hackers.
The company said it is “working to clear a backlog of payments” to suppliers, and has increased its processing capacity for invoicing.
A cyber attack on the carmaker in August forced it to shut down its IT networks and suspend production lines. Factories remain closed until next month at the earliest.
A statement from JLR said: “As part of the controlled, phased restart of our operations, today we have informed colleagues, suppliers and retail partners that sections of our digital estate are now up and running. The foundational work of our recovery programme is firmly underway.”
The company’s centre for supplying parts to distribution centres for retailers in the UK and globally is returning to full operations, JLR confirmed.
The financial system used to process the wholesale of vehicles has also been brought back online, meaning sales and registration are now faster again.
JLR said it is working with cyber security specialists, the UK government’s National Cyber Security Centre (NCSC) and law enforcement.
“Our focus remains on supporting our customers, suppliers, colleagues and our retailers. We fully recognise this is a difficult time for all connected with JLR and we thank everyone for their continued support and patience,” a statement said.
The government has said it was considering intervening to support JLR’s parts suppliers, with concerns growing that some could go bust due to the shutdown of operations, especially small businesses.
The manufacturer is owned by India’s Tata Motors, and builds around 1,000 cars a day across its three factories in Solihull and Wolverhampton in the West Midlands, and Halewood in Merseyside.
Workers were told to stay home on 1 September, and JLR has not confirmed a return date.
Around 30,000 people are employed at the company’s plants, with a further 100,000 working for employers in the supply chain.
Unions have called for a Covid-style furlough operation for those in the supply chain, but this is not thought to be viable given the scale and the cost. Businesses are also reportedly unwilling to consider a government-backed loan, given the uncertainty they currently face.
Chancellor Rachel Reeves was asked during a ministerial visit if the government was set to step in to help firms in the supply chain.
“We are working very closely with Jaguar Land Rover, but not just with the company but also with the wider supply chain,” Ms Reeves said.
“The focus is both getting the business back up and running as quickly as possible, but also making sure, as a government, we are doing everything we can to stand by the company and the wider supply chain.”
Business
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Business
Spirit’s collapse, high fuel prices test limits of summer vacation spending
Travelers walk through the terminal at Ronald Reagan Washington National Airport on May 1, 2026.
Leslie Josephs | CNBC
Higher fuel prices are testing how badly consumers want to travel this summer, whether flying or driving.
Airfare hasn’t been this high since May 2022, when airlines stumbled out of the pandemic with aircraft and employee shortages to face hordes of consumers ready for “revenge travel.” Gasoline is above $4 a gallon and could get closer to $5 a gallon this summer, AAA warned this week.
Jet fuel prices doubled in the span of less than three months this year after the U.S. and Israel attacked Iran, kicking off a conflict that has left a key shipping channel effectively closed.
Domestic round-trip airfares in April averaged $623, the highest in nearly four years, according to data from the Airlines Reporting Corporation, which tracks travel agency ticket sales. Jet fuel is the second-biggest expense for airlines after labor, and carriers say they are increasingly passing those costs along to customers.
Separately, airlines are also trimming their growth plans because of higher fuel costs. Even if a route isn’t cut, fewer flights on certain routes means that customers will have fewer seats to choose from and, with demand robust, that could drive up prices even more.
Spirit Airlines, the most famous budget carrier in the U.S., shut down earlier this month, and partially blamed jet fuel prices for its failure to emerge from near back-to-back bankruptcies. It was the biggest U.S. airline collapse in decades. Other airlines swooped in to snatch up those customers in the aftermath, but the carrier’s demise removes a main purveyor of low fares.
The fuel spikes have set the stage for higher fares and more expensive gas station visits this summer. The start of the peak travel season Memorial Day weekend will be a taste of how much travelers will shell out to fly while everything from groceries to clothing has become more expensive this year.
The Transportation Security Administration said it expects to screen 18.3 million people between Thursday and next Wednesday, compared with the 18.5 million it saw over a similar period last year.
Lackluster road trip growth
Road trips won’t be a bargain either. AAA this week forecast 39.1 million people will drive at least 50 miles between Thursday and Monday, up just 0.1% compared with last Memorial Day weekend. That was the least growth in a decade, AAA told CNBC.
Gasoline price site GasBuddy forecast this week that prices across the U.S. will average $4.48 on Memorial Day, up from $3.14 last year, and that prices could average $4.80 through Labor Day “if the Strait of Hormuz remains closed for a significant portion of the summer.”
A customer fills his vehicle with fuel at a gas station in Miami, April 13, 2026.
Joe Raedle | Getty Images
Still flying
Leisure travel intentions in the U.S. were slightly lower in March — at 82.8% compared with 83.1% the same month a year earlier — though they are still relatively high, UBS said in a note Monday.
“We believe the year-over-year moderation in travel intentions this year was likely due to higher jet fuel and other geopolitical concerns,” UBS airline analyst Atul Maheswari wrote. He added that the intent to travel is near the highest points in the past nine years.
So far, airline executives said, customers are still booking, and executives are optimistic about the summer travel season. They’ve also said they’re expecting a boost from the FIFA World Cup, which will be held in June and July in the U.S., Canada and Mexico, and from major concerts such as Harry Styles’ residencies in Amsterdam and London this summer.
United Airlines said it expects to carry 53 million travelers between June and August, up 3 million people from last year. American Airlines has forecast 75 million customers between May 21 and Sept. 8, after Labor Day, topping its previous record, in 2019.
Refueling trucks at LaGuardia Airport in New York, April 23, 2026.
Zhang Fengguo | Xinhua News Agency | Getty Images
‘What are you waiting for?’
Airlines have been pruning their schedules and axing unprofitable or less profitable routes but have been eager to fill in the gaps after Spirit’s collapse.
Travelers can still find deals if they’re flexible, said Kyle Potter, who runs the Thrifty Traveler website. He recommended using tools such as the “Explorer” tool in Google Flights that allows users to look up destinations by the length of trip and by month in a map view.
He also suggested flyers consider traveling on a Tuesday or Wednesday, when fares and traffic are often lower.
“That, in many cases, can save you hundreds of dollars per ticket, and multiply that by a family of four,” he said.
He had a simple message for travelers sitting on piles of frequent flyer miles.
“Now is the time to use your miles or your credit card points or both,” he said, warning that miles can end up devalued. “What are you waiting for? I think a lot of people hoard their miles because they want to go to to Europe in 2027.”
— CNBC’s Contessa Brewer contributed to this report.
Business
‘Potential to diversify’: US state secretary Rubio pushes for US energy supplies to India in meeting with PM Modi
US Secretary of State Marco Rubio emphasised Washington’s intent to prevent geopolitical disruptions from distorting global energy markets, as tensions linked to the Iran conflict continue to affect oil supply routes and pricing dynamics.During discussions on energy security, Rubio’s office, quoted by Reuters, stressed that the US sees energy exports as a key instrument in strengthening partnerships, particularly with India, which remains a major crude importer navigating supply diversification challenges.In that context, Rubio said, “US energy products have the potential to diversify India’s energy supply.” He also emphasized a broader US position on global energy stability amid the Iran-related crisis, with his office adding, “the United States will not let Iran hold the global energy market hostage.”The remarks come as the Iran war has disrupted global energy flows and contributed to volatility in oil markets, complicating efforts by Washington to reduce India’s reliance on Russian crude imports. The instability has added a new layer of complexity to US energy diplomacy in Asia, where supply security has become increasingly central to strategic engagement.Officials indicated that the ripple effects of the conflict have not only impacted global pricing but also slowed parts of Washington’s broader effort to realign energy trade flows away from sanctioned or high-risk suppliers.Rubio’s comments were made alongside broader engagement in New Delhi, where he met Indian leadership to discuss energy cooperation, trade expansion under the “Mission 500” framework, and Indo-Pacific strategic alignment through the Quad.In earlier public remarks, Rubio had also signalled a more aggressive US commercial energy posture toward India, saying, “We want to sell them as much energy as they’ll buy.”Separately, he reiterated India’s importance in Washington’s strategic outlook, describing it as a key partner in shaping long-term regional stability while the US continues to manage the economic and geopolitical spillovers of the Iran conflict.
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