News

Westminster Outlook: North of the border, BAE builds an array of warships for the Ministry of Defence

BAE abandons its $2bn Platform sale

BAE Systems has had a change of heart about its plans to sell part of its US commercial aerospace division, opting to keep the Platform Solutions unit after a strategic review of the business.

David Hart: Flamboyant banking heir who made his name as Thatcher’s political fixer during the 1980s miners’ strike

David Hart, the Thatcherite banking heir, was a property magnate, defence industry lobbyist who came to prominence as the scourge of Arthur Scargill and the National Union of Miners during the strike of 1984-85.

Judge criticises 'hastily drafted' BAE plea deal

SFO corruption investigation concludes with £500,000 fine

BAE systems fined for accounting failures

Defence giant BAE Systems was today fined £500,000 for failing to keep proper records of payments to an adviser in the east African country of Tanzania.

BAE faces fine over Tanzanian radar contract

A judge will this morning rule on the size of the fine that BAE Systems must pay for illegal false accounting, in conclusion of a long-running corruption investigation into a £28m Tanzanian radar contract won by the defence giant in 1999.

New finance chief at BAE

Peter Lynas will take over as the finance director at BAE Systems next year, the defense contractor said yesterday.

BAE to cut 1,300 jobs

BAE Systems is making more than 1,300 staff redundant in response to defence spending cuts.

BAE Systems set to cut 1,350 jobs

Defence giant BAE Systems is set to deliver a pre-Christmas jobs blow today by announcing cuts of up to 1,350 posts.

Market Report: Imperial rises as plain packaging fears subside

Imperial Tobacco was among the main blue-chip risers yesterday, as the cigarette manufacturer was given a vote of confidence over potential legislation that may force its products to be sold in a plain packet.

Market Report: US defence cuts shoot down BAE Systems

The markets were making amends yesterday after a poor recent run, but it was not enough to prevent defence stocks struggling thanks to fears over US government spending.

Bulger killer Jon Venables was properly supervised, says review

James Bulger's killer Jon Venables was properly supervised and he alone was responsible for his further offence of collecting child pornography, Justice Secretary Kenneth Clarke said today.

United Utilities names new CEO

United Utilities chief executive Philip Green will be replaced by Steve Mogford, the chief executive of defence electronics group Selex Galileo, when he steps down at the end of March.

Hesketh quits Babcock after attack on carrier deal

Lord Hesketh, who labelled the £5.2bn project to build two new Royal Navy aircraft carriers a "disaster" that will make Britain a "laughing stock", has resigned as deputy chairman of Babcock International, the engineering group whose Rosyth yard, in Fife, is building the vessels.

Lord Hesketh quits Babcock over aircraft carrier comment

Lord Hesketh has resigned from his post as deputy chairman at engineering group Babcock International after branding the Royal Navy's aircraft carrier programme a "disaster".

Market Report: Terror scare boosts stocks in security firms

Defence and security companies saw their shares rise sharply yesterday after fears about global terrorism were brought into focus following the recent parcel bombs scare.

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