BAE Systems sees profits rise as aircraft contracts pay off February 20, 2020 Defence giant BAE Systems posted an 18 per cent increase in profit in 2019 as the firm said work on F-35 fighter jets and its Qatar Typhoon contract would help earnings to grow by a mid-single digit percentage next year. Shares in the company had increased over 2.5 per cent by midday. The figures Operating [...]
BAE Systems to buy Collins GPS business for $2bn January 20, 2020 Leading aerospace and defence company BAE Systems has this morning announced that it will purchase Collins Aerospace’s military GPS system for almost $2bn (£1.5). BAE say that the GPS business, which is considered a market leader, should generate revenues of $359m a year in 2020, with potential for growth of 10 per cent a year. [...]
BAE Systems faces accusations of ‘aiding and abetting’ alleged Saudi war crimes in Yemen December 12, 2019 BAE Systems has been accused of having contributed to alleged war crimes in the conflict in Yemen by a group of human rights organisations, in a complaint to the International Criminal Court (ICC). The European Centre for Constitutional and Human Rights (ECCHR) has submitted a 300-page document accusing European arms executives at firms such as [...]
BAE Systems enjoys profit hike after streamlining operations July 31, 2019 BAE Systems shares rose this morning as Britain’s biggest defence company reported a nine per cent increase in first half earnings. The firm said “a number of operational improvements” had driven the growth, including pushing on with delivering Typhoon and Hawk fighter jets to the Qatari government. The defence giant’s market value rose two per cent [...]
FTSE 100 bosses to meet President Donald Trump during UK state visit May 31, 2019 A group of FTSE 100 chiefs will meet US President Donald Trump during his state visit to the UK next week, Sky News has reported, along with the heads of various US companies. Read more: European stock markets bleed red as Trump takes trade war to Mexico The bosses of Barclays, National Grid, BAE Systems, [...]
BAE Systems working with government to continue Saudi arms deal despite German ban May 9, 2019 Defence giant BAE Systems is working with the government to find a way to continue servicing Saudi Arabia's fleet of Eurofighter Typhoon military jets, despite Germany extending a ban on arms deals with the Gulf kingdom. Read more: German ban on Saudi arms looms large for defence giant BAE Systems The ban, which was originally imposed [...]
RAF missile-maker MBDA’s offices raided by French police April 25, 2019 Police raided the head office of missile manufacturer MBDA last week at the request of merchant bank Aldini which it is involved in a legal dispute with. Police were turned away with MBDA citing the French national defence act, Aldini said. MBDA manufactures the Brimstone anti-vehicle missile and the Storm Shadow cruise missile for the [...]
BAE Systems evacuates workers at nuclear submarine site after bomb scare April 10, 2019 Hundreds of workers at a BAE Systems nuclear submarines shipyard in northern England were evacuated this afternoon after a warning about a bomb on one of the ships. The defence giant, which runs the yard at Barrow-in-Furness, said it had been closed and staff evacuated. Local newspaper the Mail reported that staff had been evacuated. Ambulances [...]
BAE Systems profits rise but German ban on Saudi arms sales looms on horizon February 21, 2019 Defence giant BAE Systems' shares dropped after it said Germany’s boycott on selling arms to Saudi Arabia could be "difficult" for the firm in the long run, and that it had been forced to mitigate supply chain disruptions from the embargo. Announcing the company’s full-year results, chief executive Charles Woodburn said the firm was “taking a [...]
MoD must tackle £14.8bn black hole in decade-long spending plan now, say MPs February 1, 2019 The Ministry of Defence (MoD) must act now to tackle a black hole of up to £14.8bn in its financial plan for the next decade, according to MPs. Public Accounts Committee chair Meg Hillier slammed the department today for “failing taxpayers”, urging it to “bring some much-needed clarity to its priorities and costs”. Read more: BAE [...]