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City grandee Dame Carolyn Fairbairn has joined BAE Systems as a non-executive director, the defence giant announced today. Fairbairn, one of the Square Mile’s most high-profile figures, was until last year the director-general of the CBI. She has previously held non-exec roles at the CMA, Lloyds Bank, the FSA, and outsourcer Capita. Prior to that, [...]
Defence giant BAE Systems has today signed a £2.4bn contract to supply the UK’s armed forces with ammunition for the next 15 years. The Ministry of Defence said that the deal would support 4,000 jobs around the country over the next decade and a half. The Next Generation Munitions Solution (NGMS) will see BAE make [...]
Defence giant BAE Systems will receive a £1.3bn windfall from the German government’s purchase of 38 Eurofighter jets, it was confirmed today. Last week German officials announced the deal, which is worth around €5.4bn in total. The FTSE 100 company is part of an Airbus-led consortium which builds the jet fighter. The Times yesterday reported [...]
BAE Systems has said that its new fighter jet could support 20,000 jobs in the UK as it seeks to make the case for the new combat air system. The Tempest programme, which is being delivered by the FTSE 100 company alongside a consortium of defence giants, is also predicted to contribute £25.3bn to the [...]
BAE Systems posted weaker profit for its coronavirus-struck first half of the year today, despite an increase in revenue. The figures Profit before tax fell 11 per cent to £689m in the six months to 30 June compared to the same period in 2019. Meanwhile revenue inched up five per cent to £9.18bn year on [...]
BAE Systems first-half profit will be about one-sixth down on last year, after the coronavirus pandemic hit the defence giant. The company said that it still enjoyed strong demand for its defence products which make up the vast majority of its business. However, its manufacturing lines have faced disruption amid the lockdown, it said this [...]
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 [...]
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 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 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 [...]
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