Badenoch: Cut benefits to fund £10bn defence spending package Politics Kemi Badenoch has urged the government to cut housing benefits, child benefits and re-route public investment in order to fund a £10bn boost on defence spending every year. The Tory leader, who had previously called for an increase in defence expenditure without laying out full funding plans, said that Chancellor John Healey “should adopt” plans [...]
The unhelpful nationalism of ‘Buy British’ in defence Opinion Hyperfixating on where a defence company happens to be registered will leave Britain on the back foot, writes Paul Jenkinson.
UK government takes stake in miner after £71m injection Energy The government’s National Wealth Fund is set to pump £71m into miner Tungsten West in a bid to help reopen the Hemerdon mine in Devon. The funding package combines a £36m share purchase, which will hand the government a 7.4 per cent stake in Tungsten and a seat on the board of directors, and a [...]
Serco chief hits back at New Statesman’s outsourcing jibes August 6, 2026 Serco’s boss has hit back at media criticism in the New Statesman and other outlets as the under-scrutiny firm boosted its sales and eyed more contract wins. The London-listed firm, which is one of Britain’s largest outsourcing companies running everything from bin collections to asylum accommodation, said it remained committed to bidding for contracts in [...]
BAE Systems raises guidance yet Burnham wavers on defence July 30, 2026 BAE Systems raised its guidance after a series of contract wins yet optimism over spending top-ups may have faded after Prime Minister Andy Burnham refused to commit to lifting expenditure. The aerospace and arms company said profit for the first half of the year amounted to more than £1bn while sales also improved on the [...]
Rolls-Royce share jump as profit beats expectations July 30, 2026 Rolls-Royce shares jumped on Thursday after the company hiked its targets and posted a near 50 per cent jump in operating profits in the first half of the year, as it reaps the rewards of a boom in defence spending. The FTSE 100 engineering firm said rising profitability across all of its divisions resulted in [...]
AI, drones and data: Defence giants splash record $4.1bn on tech start-ups July 27, 2026 Investment in defence tech start-ups has reached a record high this year as the world’s biggest arms companies step up spending on new military technology. New figures from Dealroom show defence contractors including BAE Systems, Lockheed Martin and Airbus have participated in $4.1bn (£3bn) of venture capital funding rounds so far this year, the highest [...]
Defence drilling firm tools up for London IPO July 27, 2026 Aerospace drilling company Tek4 is gearing up for an initial public offering in London, City AM can reveal, in a boost to the London Stock Exchange as it looks to tempt more defence firms to market. The Leicestershire-based company, which counts Rolls-Royce and GE among its customers, is looking to raise £20m through a listing [...]
Burnham vows to ‘get serious’ about slashing welfare bill July 27, 2026 Andy Burnham has vowed that he will “get serious” about slashing the welfare bill, as the Prime Minister hunts savings to boost defence spending. “We’ve got to get really serious as a country [about] getting the welfare bill down,” Burnham told the BBC in his first full interview since becoming Prime Minister last week. He [...]
‘Extremely dangerous’: AI warfare much bigger threat than LLM model advances, experts warn July 25, 2026 The growing use of AI in warfare poses a much bigger threat to the future of the UK than the latest advances in frontier AI models, experts have told City AM. Nicholas Fairfax and Max Rangeley, co-editors of The Artificial Intelligence Revolution, said the ability of small actors to use AI to develop immensely powerful [...]