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 [...]
BAE Chairman: Britain should be a ‘critical friend’ to Saudi Arabia after Khashoggi and Yemen January 26, 2019 Britain must remain a “critical friend” to Saudi Arabia, the head of the UK’s largest defence company has said. BAE Systems chairman Roger Carr said that the UK could help Saudi Arabia’s Crown Prince Mohammed bin Salman change his country’s trajectory. Read more: BAE Systems sells off majority stake in UK military vehicle arm to German firm [...]
BAE Systems sells off majority stake in UK military vehicle arm to German firm January 21, 2019 Defence giant BAE Systems has announced it is selling off 55 per cent of its UK military vehicle business to German firm Rheinmetall for £28.6m. The deal will produce a new joint venture called Rheinmetall BAE Systems Land (RBSL), headquartered at BAE Systems’ site in Telford, Shropshire, and will preserve more than 400 jobs in [...]
Defence firm BAE Systems plugs £20m into augmented reality and artificial intelligence on warships November 22, 2018 Defence contractor BAE Systems has today announced a £20m investment to innovate combat systems on its warships, using augmented reality and artificial intelligence to bring its fleet up to date with the latest tech. The firm unveiled several new solutions it has been working on as part of the investment, including augmented reality glasses that would [...]
Meet London’s 25 under 25 up and coming tech stars November 20, 2018 Industry network Tech London Advocates has today launched its first 25 under 25 list, highlighting the best and brightest of the UK's next generation of tech talent. Gathering insight and nominations from its community of over 6,000 technology leaders, founders and investors, the list aims to recognise the breadth of tech expertise in the UK and [...]
BAE Systems’ 2018 forecast buoyed by Budget plans for military spending November 8, 2018 Aerospace giant BAE Systems has reiterated its forecast for flat earnings in 2018 while remaining upbeat about the progress of programmes in the UK and US. BAE was buoyed by Philip Hammond's most recent Budget in which he pledged an extra £1bn for defence between now and the end of next year to modernise key areas [...]
Automation and AI are leading the UK into a new industrial age September 27, 2018 Last year, the government’s Made Smarter Review set out how digital technologies can transform UK manufacturing by 2030. Receiving contributions from more than 200 organisations, the review spelled out how technologies like automation, artificial intelligence (AI), virtual reality, and additive manufacturing could help Britain lead the fourth industrial revolution, raising productivity, creating new, better-paid jobs, [...]
Government financed deal to sell 33 military aircraft to Qatar takes off with first payment September 18, 2018 A £5bn deal for Qatar to buy 33 military aircraft has been finalised today. after supplier BAE Systems received its first payment. The aerospace company will make 24 Typhoons and 9 Hawk at its factories in Warton and Brough, as well as provide bespoke support and training for the vehicles. The deal was funded by [...]
UK pensions deficits: FTSE 100 firms fear pension pain as workers retire September 6, 2015 Pension schemes represent a “material risk” for many of the largest companies in the FTSE 100, new research shows. Six firms, including BAE Systems, British Airways-owner International Airlines Group, RSA and Royal Bank of Scotland, all have total disclosed pension liabilities almost double their equity market value, so says JLT Employee Benefits’ quarterly report [...]