Lady Cobham: UK mustn’t sell off defence crown jewels June 19, 2022 LADY Cobham, the daughter-in-law of the founder of the defence giant Cobham, has warned the UK government it cannot afford to allow British defence firms to fall into foreign hands. Cobham was bought by a US private equity firm in 2020, with Lady Cobham at the time warning the government it should have stepped in [...]
Australia reaches settlement with French firm to ease ‘Aukus’ tensions June 12, 2022 Australia has reached a settlement with France's Naval Group, as compensation for scuppering a submarine contract with the country.
British defence firm Meggitt posts humble growth as it gears up for £6.3bn US takeover April 21, 2022 Revenue for the British defence firm Meggitt was up a humble five per cent this morning as the company gears up for a US takeover. Whilst this was a slight boost from the previous year, revenue was still down 23 per cent compared to pre-pandemic levels. Meggitt stated that though it was pleased with the [...]
Spring budget: Defence and foreign aid set to miss out on rise as war rages in Ukraine March 21, 2022 Britain’s defence and foreign aid budgets are set to miss out on an increase in the Spring budget, despite Russia’s war in Ukraine putting pressure on the UK’s responsibilities abroad. Chancellor Rishi Sunak sidestepped suggestions the conflict could lead to a rise in cash for defence, pointing to £24bn spent last year. This comes after [...]
Babcock gains new Five Eyes partner with Australian communications deal December 6, 2021 Babcock International (Babcock) has been chosen by the Australian Government to upgrade its defence capabilities.
BAE Systems maintains 2021 guidance for positive earnings growth November 8, 2021 BAE Systems has stuck to its guidance for earning per share to grow by 3-5 per cent this year compared to 2020. The multinational arms and aerospace company has kept its improved underlying position unchanged from the outlook it outlined at its interim results. It says demand for its products and services remains high. Demand [...]
Government boosts Highlands and opens Europe’s biggest IT centres October 22, 2021 The UK Government has opened two new IT service centres in the Scottish Highlands, creating 250 jobs and boosting the area’s local economy. Situated in Nairn and Inverness, the two sites will look after all of the Ministry of Defence’s 200,000 IT customers, providing 24/7 assistance throughout the whole year. Part of a five-year contract [...]
Farnborough struck by industry gloom July 15, 2008 Abu Dhabi’s Etihad Airways was the talk of the Farnborough Airshow yesterday after it unveiled a $20bn (£10bn) order for 100 planes – but it was a quiet debut for Europe’s biggest industry show. Etihad CEO James Hogan said the airline had placed orders for 35 787 Dreamliners and 10 777s from America’s Boeing for [...]
SFO appeals Saudi case July 8, 2008 The Serious Fraud Office (SFO) yesterday told the House of Lords it did not act unlawfully when it ended its investigation into a £43bn Saudi arms deal. The case against the SFO is being brought by the pressure groups the Campaign Against Arms Trade and the Corner House who say the case should be reopened. [...]