The past two weeks have been dreadful for Jaguar Land Rover (JLR), and the crisis at the car maker shows no sign of coming to an end, according to a BBC.com report. A cyber attack, which first came to light on 1 September, forced the manufacturer to shut down its computer systems and close production lines worldwide. Its factories in Solihull, Halewood, and Wolverhampton are expected to remain idle until at least Wednesday, as the company continues to assess the damage. JLR is thought to have lost at least £50m so far as a result of the stoppage.

Cryptocurrency groups are urging the Bank of England (BoE) to abandon plans to cap the amount of stablecoins that individuals and businesses can hold in the UK, Decrypt.com reported. “Imposing caps on stablecoins is bad for UK savers, bad for the City and bad for sterling,” Tom Duff Gordon, vice-president of international policy at Coinbase, told the Financial Times. “No other major jurisdiction has deemed it necessary to impose caps.” The pushback comes following an FT report that BoE officials plan to continue pursuing the implementation of a 2023 BoE consultation paper on stablecoins.

Shropshire Council leaders have pledged to do "all that they can" to avoid running out of money by April, BBC.com reported. A report presented to the authority's cabinet on Wednesday showed it must make urgent savings to avoid going over budget by £35.2m this financial year - £889,000 of which can't be funded using its reserves or by other means. Members voted unanimously "with a heavy heart" to declare a "financial emergency" and outlined measures to be put into place to secure tighter control over all aspects of spending.

The U.K. housing market continued to experience a slowdown in sales in August, according to a report from the Royal Institution of Chartered Surveyors, the Wall Street Journal reported. Most parts of the U.K. experienced a decline in new buyer inquiries, with the slowdown expected to continue in the coming months, according to a RICS survey of property professionals. This suggests that the fall in buyer demand gathered momentum over the month, with most parts of the country seeing a negative trend emerge, RICS said. Agreed sales also faced a quickening slowdown in August.

Argo Blockchain, a UK-based Bitcoin mining company listed on the London Stock Exchange, has entered a restructuring agreement that will likely see over 80% of its equity acquired by US group Growler Mining, UKTech.news reported. The firm announced in June that it was seeking a loan and restructuring deal described as “necessary to avoid an uncontrolled insolvency and liquidation”.

Around 30 million car finance loans are under scrutiny by the City watchdog to see if they qualify for mis-selling compensation payments, according to its chief executive, the Telegraph reported. On Tuesday, Nikhil Rathi, the Financial Conduct Authority (FCA) chief executive, said the agency was examining the agreements – which were taken out between 2007 and 2020 – to see if they were mis-sold by banks and qualify for the FCA’s mass redress scheme.

The number of new businesses launched in Yorkshire and the Humber fell in August, but insolvency-related activity also declined, according to research by restructuring, turnaround and insolvency trade body R3, InsiderMedia.com reported. The latest figures, based on data from Creditsafe, show that business start-ups across Yorkshire and the Humber dropped by 11.3 per cent in August compared to July, falling from 4,728 to 4,192. The region mirrored a national picture of declining start-up activity.

This past week, U.K. long-term borrowing costs hit their highest level in decades, causing Treasury chief Rachel Reeves to shoot down suggestions that the heavily indebted country is heading for a fiscal crisis, the Wall Street Journal reported. Most economists agree with her—for now. But in a world where industrialized nations have taken on record amounts of debt and are paying ever more to finance the borrowing, the U.K. could become the financial markets’ equivalent of the proverbial canary in the coal mine—a leading indicator of trouble for other debtors like the U.S.