News

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

Experts assess damage to grounded submarine

A nuclear-powered submarine which ran aground on a shingle bank, embarrassing the Royal Navy, will be checked for damage today.

Aircraft cuts will dent our plans, warns BAE

BAE Systems has warned that its growth in 2010 will be weaker than expected following the Government's review of defence and security spending. The company plans to work with the Ministry of Defence to address the implications of the changes, but said it anticipated some modest impact on the performance of its UK business this year. It has also reduced its financial planning assumptions for the following years.

Market Report: Takeover spotlight hits Jardine Lloyd Thompson

Takeover gossip was limited yesterday as the market waited for the Government's Comprehensive Spending Review (CSR). Yet shares in the insurance group Jardine Lloyd Thompson soared early as rumours of a potential bid battle escalated.

Navigator fell to death from jet

A civilian navigator died after his ejector seat "detached and fell" from an RAF Tornado as he flew upside down during a test flight, an inquest heard today.

BAE buys US intelligence units

BAE Systems unveiled a multimillion-pound deal to buy part of an American intelligence business yesterday in a move that will see former CIA and FBI workers join the company.

Market Report: Whitehall vow to honour contracts boosts Logica

Outsourcers were in favour, with Logica climbing higher, as fears of cutbacks and delays to Government contracts began to fade last night.

BAE plans US sale to fund acquisition war chest

BAE systems is looking for buyers for its Platform Solution aircraft avionics business headquartered in New York.

BAE hopes to raise £1.3bn with US sale

Defence giant BAE Systems is hoping to raise $2bn (£1.3bn) through the sale of one of its US businesses, it was reported today.

Workers shocked by BAE's decision to cut 1,000 jobs

Workers at BAE Systems were said to be in "shock" yesterday after the defence giant unveiled plans to cut hundreds of jobs. Unions said almost 1,000 jobs at five military factories and other sites would be lost in the latest cull, warning that the cuts could be the "tip of the iceberg".

1,000 BAE job losses 'may be tip of iceberg'

Workers at manufacturing giant BAE Systems were said to be in "shock" tonight after the firm delivered a huge blow by unveiling plans to axe hundreds of jobs.

Investment Column: Qinetiq is worth a punt in defence sector

Do you really want to be investing in companies whose major customer has promised to cut orders "ruthlessly and without sentiment"?

Britain 'will have to earn' trade deals with India

Britain will have to earn job-creating trade deals with India rather than relying on historic links and "sentiment," David Cameron will say today.

Leading article: Mr Cameron's antiquated passage to India

For a thoroughly modern politician, David Cameron appears to have some strangely antiquated ideas about how the modern global economy works. This week, the Prime Minister will board a plane to India in the company of scores of senior British businessmen. At the other end, much flesh will be pressed and the merits of British firms loudly trumpeted. A new defence contract for BAE Systems is expected to be brandished. This is the traditional way of conducting trade policy. It is also thoroughly outdated. If there is business to be done between Britain and India, the private sectors of each country are perfectly capable of getting on and doing it without politicians of either nation smoothing the way.

Cameron hoping to forge new special relationship with visit to India

The Prime Minister is flying out to Delhi this week – and he means business.

BAE joins wave energy project

BAE systems has teamed up with the wave energy developer Aquamarine Power in an almost £1m project to produce more reliable alternative energy sources for the UK. BAE and Aquamarine put up £450,000, to match a grant from the Technology Strategy Board. The funding is to support the development of the commercial production of Aquamarine's Oyster wave energy converter.

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