Sunday newspaper round-up: JLR bailout, drone wall, suspected Russian incursion, Revolut, Reform UK, Rackhams, new towns

(Sharecast News) - Jaguar Land Rover has been rescued with a £1.5bn government-backed loan after it stopped manufacturing following a cyber attack. The cash injection will allow JLR to support its supply chain after firms warned of mass layoffs and collapse following the halt to production. Rachel Reeves, the Chancellor, said: "Jaguar Land Rover is an iconic British company which employs tens of thousands of people - a jewel in the crown of our economy. "Today we are protecting thousands of those jobs with up to £1.5bn in additional private finance, helping them support their supply chain and protect a vital part of the British car industry." - The Telegraph British-made drones will be deployed to create a "drone wall" to protect Nato from Russian aggression, the Defence Secretary has revealed. The new low-cost unmanned craft, developed in collaboration with Ukraine, are part of a new strategy to deter Vladimir Putin's jets and drones on the alliance's eastern flank. European ministers are concerned about a spate of Russian incursions into Polish and Estonian airspace, which prompted Britain to deploy RAF Typhoons over Poland in a show of force to Moscow.

A suspected Russian "hybrid" incursion of drones this week took place in Denmark and Norway. On Saturday, it was reported that overnight, unidentified drones were seen over the Karlskrona archipelago in Sweden, a few miles from a naval base. Residents of the islands of Sturkö and Tjurkö reported the drones and police upon arriving at the scene spotted one of them, the report said. - The Telegraph

Revolut is considering a dual listing in New York and London for its blockbuster share sale in a move that would provide a major boost for the City. The willingness of payment app Revolut to consider London as a destination for a listing worth at least $75bn would appear to demonstrate a thawing in the attitude of founder Nik Storonsky, who has previously downplayed his appetite to float in London. A senior City source said the idea of a dual listing for Revolut was being "widely discussed" in financial circles. If such a deal were to take place, it would make history as the first time a company has simultaneously listed in New York and entered London's flagship FTSE 100 index. With a valuation of about £55bn, it would be one of the 15 most valuable companies in London. - The Times

Labour's hopes of clinging on to power have been dealt a blow with new evidence that millions of older voters would rather live in a country where Nigel Farage is prime minister. The Labour faithful are gathering for their annual conference in Liverpool, with the vast majority of Britons thinking they are pushing the country in the wrong direction. The party has been rocked by the resignation of Angela Rayner as Deputy Prime Minister and the exit of Lord Mandelson as US ambassador. New Ipsos polling shows the lion's share of voters do not think the Labour Government is acting with competence or integrity. The finding that 67% of Britons think the Government is doing a "bad job" on reducing the cost of living will trigger alarm bells. - The Express

A popular department store has returned to the UK after 25 years, but with one key difference. Rackhams, the luxury department store founded in Birmingham, has made its return as a digital-only store. Rackhams was originally founded in 1881 by John Rackham and William Matthews. In the 1950s, it was Harrods and then House of Fraser, and during the 1970s, the name was used for stores across the Midlands and Northern England. The store was eventually closed in 2000. According to Rackhams, the branch relaunched in 2023 as a new online Marketplace. "At Rackhams, our marketplace-first approach is not a side project - it is the business," CEO Mark Jordan told the Retail Gazette. - The Independent

The government is expected to announce on Sunday a programme to build 12 new towns across England in a bid to address the country's housing crisis. The housing secretary, Steve Reed, will unveil the initiative at Labour's annual conference as it begins in Liverpool. The prime minister, Keir Starmer, described the proposals as "national renewal in action". It comes as the new towns taskforce, established in September last year, publishes a report with a raft of recommendations for fresh developments across the country. Labour is keen to present the proposals as a rejection of what it sees as the "quick fix" politics of Reform. Reed will tell delegates that the project is modelled on the "housing boom" overseen by Clement Attlee's postwar Labour government, which built more than one million homes between 1945 and 1951. Reed's project will rely on public and private funding but the total anticipated cost is unclear. The taskforce is expected to say that, collectively, the new towns could deliver "up to 300,000" homes over the "coming decades". - The Guardian