BAE takes flight in cyber security sector with $233m bid for SilverSky October 21, 2014 Defence firm BAE Systems is looking to expand into the cyber security sector with a $232.5m (£144.2m) bid for SilverSky. SilverSky, owned by US company Perimeter Internetworking, is a cloud-based security services provider with 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. It is focused mainly on the US [...]
BAE Systems share price falls after further job cuts announced October 9, 2014 BAE Systems' share price fell after it revealed further job cuts today. The defence giant is cutting up to 440 managerial positions from its Military Air & Information (MAI) business, with the brunt of jobs being lost at its Lancashire base. Its share price had fallen 0.7 per cent after the announcement. The [...]
Strong sterling hits British aerospace firms Rolls-Royce and BAE systems July 31, 2014 The pound’s strength yesterday continued to strike a blow to the profits of major British companies. Huge aerospace and defence firms Rolls-Royce and BAE systems, as well as engineering company Weir Group all announced that their profits had taken a hit from the currency’s rise. Both BAE and Rolls-Royce also said they had suffered from [...]
Hedge fund attack was not real, says BAE systems July 3, 2014 Last month, an employee of BAE Systems described a hacking that took place against an unnamed hedge fund, which he said caused it to lose millions of dollars. He said that the attackers had stolen portable company secrets by installing malware software, and in the process slowed down high-speed trading. But a spokeswoman [...]
BAE Systems chief: We know how much US cuts will hurt us May 7, 2014 DEFENCE giant BAE Systems yesterday said its outlook for the year remains unchanged from February, when it forecast an earnings drop of up to 10 per cent due to US spending cuts. “In the US, the announced defence budget, while not yet finally agreed in detail, indicates spending reductions much as we had anticipated and points [...]
BAE warns on risk of Scottish independence March 20, 2014 DEFENCE giant BAE Systems yesterday became the latest FTSE 100-listed firm to speak out against the risks of Scottish independence. “BAE Systems has significant interests and employees in Scotland, and it is clear that continued union offers greater certainty and stability for our business,” it said in its annual report. “In the event that Scotland [...]
BAE Systems raises concerns over Scottish independence March 20, 2014 Defence giant BAE Systems has announced a profit before tax of £422m for the year ended 31 December. The figure is significantly down from the £1.2bn the company enjoyed last year. The company had a one off impairment charge this year relating to the accounting of goodwill in parts of its US business – that [...]
BAE slides as it warns on profit for a third year February 20, 2014 SHARES in BAE Systems plummeted yesterday, after the FTSE 100-listed defence giant warned that earnings would be lower this year due to US budget cuts and delays to finalising a Saudi jets deal. “Following last year’s non-recurring benefit from the Salam price escalation settlement, together with continuing US budget pressures, the group’s reported earnings per [...]
BAE earnings warning sees shares plunge 10pc February 20, 2014 BAE Systems has said today that 2014 earnings per share could drop by as much as 10 per cent. Shares have dropped ten per cent on the news this morning. The firm has been hit by budgetary pressures from the US, “challenging market conditions” and the lack of the one-off lift from its Typhoon jet [...]
BAE secures a deal with Saudi Arabia over jets February 19, 2014 DEFENCE gaint BAE Systems yesterday said it had agreed pricing with Saudi Arabia on a long-awaited jets deal. FTSE 100-listed BAE Systems said that the UK and Saudi governments have now agreed price escalation terms relating to the Typhoon aircraft under the so-called Salam deal and that the terms of the agreement are broadly consistent [...]