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 [...]
BAE brings Iron Man tech to the battlefield February 19, 2014 Anyone who's tried a first person shooter is familiar with the heads-up display. Players are used to their screens displaying vital tactical information right in front of them. You might have seen the same thing in the Iron Man comic books and films. Now the real world is catching up, with BAE Systems releasing the [...]
BAE shares take off on new Typhoon price deal February 19, 2014 BAE Systems has said today that it’s confirmed a pricing escalation for the massive deal to supply Eurofighter Typhoon jets to Saudi Arabia. The news, which erases some of the uncertainty hanging over the company, has seen shares climb almost two per cent this morning. The so-called Salam deal, has been in the ether [...]
BAE boss says UAE talks will not be revived January 22, 2014 BAE SYSTEMS chief Ian King yesterday confirmed that collapsed talks to sell its Eurofighter Typhoon jets to the UAE would not be revived, but insisted the deal’s failure would not impact its ability to sell to other nations. King told reporters at a London event that the defence giant’s aircraft “met the UAE’s very exacting [...]
3D printing tested in BAE’s military aircraft January 6, 2014 DEFENCE firm BAE Systems has used 3D printed components in its latest Tornado aircraft during a test flight at the company’s UK airfield. BAE said the development could open up opportunities to use 3D printed parts in other military equipment in the future. 3D printing could lead to savings which BAE said already amount to [...]