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Jaguar Land Rover warns that Trump tariffs will hit profits

about 19 hours ago
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The British luxury carmaker Jaguar Land Rover has warned of a hit to profits from Donald Trump’s tariffs, after the company temporarily paused deliveries to the US.The carmaker, which is owned by India’s Tata Motors, halted shipments to America in April and removed some marketing programmes after the US president imposed a 25% duty on all foreign-made vehicles, before resuming them last month.The country accounts for more than a quarter of JLR’s sales.As part of a presentation to investors released to the Mumbai stock exchange, JLR, which makes the Defender sports utility vehicle (SUV), said it was “reallocating available units to accessible markets” to boost profits.It is also considering raising prices in the US to help to counter the impact of tariffs.

The company said it continued to engage with the US and UK governments regarding a limited trade deal signed between the two countries in May.The deal allows the UK to export 100,000 cars a year to the US at a 10% tariff, reducing it from the 27.5% levy imposed on all countries.Britain’s ambassador to the US, Peter Mandelson, said shortly after the deal was agreed that it had immediately prevented job losses at JLR’s factory in the West Midlands.JLR’s chief executive, Adrian Mardell, said the deal would help to sustain 250,000 jobs.

“This deal has saved those jobs,” Mandelson told CNN at the time.“That’s a pretty big achievement in my view, and I’m very pleased that the president has signed it.”Its fellow British luxury carmaker Bentley also halted sales to the US as it waited for lower tariffs from the UK’s trade deal, with no clarity on when the 10% rate will start.While orders placed directly by customers are still shipped to the US, Bentley has stopped exports of vehicles that would sit at dealerships before being sold.All its cars are produced in Crewe, Cheshire.

JLR manufactures its Range Rover SUVs in the UK, but the Defender is made in Slovakia, a member of the EU, which has not yet agreed a trade pact with the Trump administration,Reflecting the impact of tariffs and uncertainty in the global car industry, JLR lowered its forecast for margins on underlying profits, measured by earnings before interest and taxes, to between 5% and 7% this year, from 10% previously estimated,The company achieved a profit margin of 8,5% in the year to 31 March,Shares in Tata Motors fell by more than 5% in early trading and later traded 3.

8% lower.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionAnalysts said JLR might be shielded to some extent from higher tariff costs as its cars were bought by wealthier customers who were unlikely to be put off by a bigger price tag.On the other hand, JLR does not have manufacturing in the US, unlike most of its rivals, such as Germany’s Mercedes-Benz and BMW.Tata, a conglomerate that owns Air India, is also dealing with the fallout of last week’s plane crash near Ahmedabad, which killed at least 279 people.The group took control of the formerly state-owned airline in 2022 and merged it last year with Vistara, a joint venture with Singapore Airlines.

All but one of the passengers died after the plane crashed into buildings moments after failing to take off properly from Ahmedabad airport.Air India’s chair, N Chandrasekaran, told staff on Monday that the crash should be a catalyst to building a safer airline.In a meeting attended by 700 staff at the airline’s headquarters near Delhi, he said the crash was the “most heartbreaking” crisis of his career.
foodSee all
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Raise a glass to National Beer Day: tips on the perfect pint

I didn’t write a Valentine’s Day column, I also didn’t do one for Mother’s Day, and I won’t be doing one for Father’s Day, either. Who am I to tell you how to enjoy your time with your most beloved – and who am I to tell you what they ought to be drinking, seeing as these days that’s invariably informed by gendered marketing and targeted campaigns?The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.I am, however, writing a column for National Beer Day on 15 June (the same as Father’s Day – yawn)

3 days ago
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Benjamina Ebuehi’s recipe for cherry and honeycomb cheesecake pots | The sweet spot

Honeycomb gets lots of attention in the autumn months, but this crunchy brittle is such fun to make all year round, and adds a playful texture to all sorts of desserts such as today’s cheesecake pots. The quantities make more honeycomb than you need here, but extra snacking is inevitable. The cheesecake itself, which I’ve lightened with greek yoghurt, is super-simple to put together – just mix and chill.Prep 5 minCool 1 hr Cook 30 min Makes 6For the honeycomb200g caster sugar 200g golden syrup 2½ tsp bicarbonate of sodaFor the cherries255g pitted cherries, fresh or frozen and defrosted30g caster sugar Squeeze of lemon juiceFor the cheesecake150g digestive biscuits 50g salted butter, melted330g greek yoghurt 250g cream cheese 1 tsp vanilla bean paste 50g icing sugar 100ml double creamLine a 20cm square cake tin with greaseproof paper. Put the sugar and golden syrup in a deep saucepan and heat gently until the sugar melts

4 days ago
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Ken Don obituary

My colleague Ken Don, who has died aged 80, was a passionate real ale brewer who played a key role in saving Maris Otter, considered the finest variety of malting barley. He spent most of his career at the Young’s Ram Brewery in Wandsworth, south London, where the ruling Young family was committed to cask-conditioned beer.Ken was born in Alloa, in Clackmannanshire, the son of Ian Don, who worked in a local glass factory, and his wife, Margaret (nee Cook). He was educated at Alloa academy and trained as a brewer at Alloa Brewery, where the main product was Skol lager. Keen to broaden his skills, he went on the brewing and distilling course at Heriot-Watt University in Edinburgh

5 days ago
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‘The quality of Lebanese wine is absolutely incredible’

Lebanon has one of, if not the most ancient winemaking traditions in the world, so it stands to reason that we ought to drink more of it. This historic wine industry started way back with the Phoenicians, who spread viticulture throughout the Mediterranean, and then, in 1857, Jesuit monks planted vines from Algeria in the Bekaa valley, in an area that is today one of the country’s most prestigious wine-producing regions.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

5 days ago
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Rachel Roddy’s salad of hazelnuts, gorgonzola and honey dressing | A kitchen in Rome

Recently, I listened to the Italian chefs Niko Romito and Salvatore Tassa in conversation about Italian food culture, and in particular the role of the trattoria. During the warm conversation, Romito, who is one of Italy’s most visionary chefs and whose Ristorante Reale in Abruzzo has three Michelin stars, spoke about the first time he ate at Tassa’s Nu’ Trattoria Italiana dal 1960 in Acuto, which is in the province of Frosinone about an hour south of Rome. Romito recalled the homely atmosphere and Tassa as an old-school host: welcoming, communicative and the conduit (which didn’t sound pretentious when he said it) between local traditions, producers and those who came to eat. But Romito also described a dish of onions, simply braised, but of such goodness that he couldn’t stop thinking about and imagining them. In fact, Romito credits those onions as being the starting point for one of his own most well-known dishes: “absolute” onion broth with parmesan-filled pasta and toasted saffron

5 days ago
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How to turn store cupboard grains, nuts, seeds and dried fruit into a brilliant nutritious loaf – recipe | Waste not

Today’s rich, nutritious and no-knead bread is a cornerstone of my weekly routine. Every Saturday, I make a simple rye bread dough, and gather whatever grains, nuts and seeds need using up – from forgotten millet to that last handful of brazil nuts – and soak them overnight. By Sunday lunchtime, the house will be filled with the homely aroma of fresh bread emerging from the oven.When my daughter won’t eat anything but a slice of toast, I want to know she’s still being nourished, so I’ve raised our nutrient baseline by reformulating the recipes for our everyday staples – that is, bread, pasta, porridge and even cakes – with whole grains, omega-rich seeds and nutrient-dense ingredients such as moringa powder. Of course, every family has its own tastes and comfort foods, so these changes need to be gradual

6 days ago
politicsSee all
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British Council cuts are a false economy that would erode the UK’s global influence | Letters

about 13 hours ago
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Labour cutting farming budget in England by £100m a year, figures shows

about 16 hours ago
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Keir Starmer makes U-turn mid-air over grooming gangs inquiry

1 day ago
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‘Labour has made me feel like a scrounger’: disabled people urge welfare cuts rethink

1 day ago
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Government’s welfare plans must be pushed through, Starmer says

1 day ago
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UK ‘woefully’ unprepared for Chinese and Russian undersea cable sabotage, says report

1 day ago