BAE fined over Tanzania dealings
21st Dec 2010 11:29
Defence group BAE has been fined £500,000 after admitting to making accounting failures in its business dealings in Tanzania. It made payments of about £7.7m to two companies controlled by businessman Shailesh Vithlani between 2000 and 2005, ahead of winning a £28m contract to provide Tanzania wit
Read moreTuesday newspaper round-up: BAE Systems, Toxic loan scheme, Snow...
21st Dec 2010 06:35
BAE Systems faces an unlimited fine today for concealing the true purpose of shadowy payments totalling almost £8m to a Tanzanian agent. Europe's largest defence contractor was due to be sentenced at Southwark Crown Court yesterday after admitting that it failed to keep proper accounting records. H
Read moreFTSE 100 movers: Miners head higher
10th Dec 2010 14:20
Strong Chinese export figures are pushing miners higher. Vedanta and Fresnillo are leading the way as investors expect Chinese demand for metals to rise. Peter Lynas will take over as BAE Systems finance director from George Rose when he retires at the end of March after 13 years in the role. Ly
Read moreTechMARK moves: New FD for BAE
10th Dec 2010 12:33
BAE Systems is higher on the day after it announced its new finance director. Peter Lynas will take over from George Rose when he retires at the end of March after 13 years in the role. Lynas is currently director - financial control, reporting & treasury for the company. Logistics software supp
Read moreBAE cuts 1,300 jobs
9th Dec 2010 10:39
Defence firm BAE has announced plans to cut more than 1,300 jobs in the UK following the government's spending review. The cuts, which will affect jobs at various sites where Nimrod spy planes and Harrier jets were assembled, including Farnborough in Hampshire and RAF Kinloss in the north of Scotla
Read moreThursday newspaper round-up: BAE, De La Rue, bonds
9th Dec 2010 06:17
About 1,350 British jobs are to be lost at BAE Systems, the company is expected to announce today. The job cuts represent the first tranche of defence layoffs to be announced since the Government's review of defence spending led to the decision to axe the Nimrod and Harrier aircraft, which BAE Syste
Read moreCobham wins BAE Systems contract
30th Nov 2010 07:58
Defence group Cobham has won an £18m contract to provide ejector release units to fellow defence firm BAE Systems. Cobham's Mission Equipment strategic business unit will deliver significant quantities of Light Duty Ejector Release Units and Carrier Bomb Light Stores (CBLS) training aids to BAE Sys
Read moreBAE snaps up Aussie info security firm
29th Nov 2010 11:09
BAE Systems has agreed to buy Australian information security company stratsec.net for A$24m (£15m) in cash. The UK defence giant said the purchase, from the three employees and the stratsec employee share trust that own the business, supports its expansion plans in that area and strategy to devel
Read moreThursday newspaper round-up: Ireland, BAE, mobile phones...
11th Nov 2010 06:03
The International Monetary Fund was forced last night to deny that Ireland had requested financial assistance after another run on Irish government bonds. In a rare denial, the IMF said that relations with Ireland were "normal" and described Dublin's plans to cut spending and raise taxes by €15 bi
Read moreLondon afternoon: BAE takes off
10th Nov 2010 15:10
Mining stocks are dragging London lower as copper and precious metal prices come off the boil. Kazakhmys, Lonmin and ENRC are the worst performers while precious metals miners Randgold and Fresnillo fare little better. BAE Systems is the best performing blue-chip after holding an investor day ye
Read moreLondon close: FTSE 100 slips back
8th Nov 2010 16:43
Shares were on balance slightly lower as trading closed, with investors continuing to pause for breath following the strong gains seen last week on the back of the renewal of quantitative easing in the US. Rolls-Royce was a late riser after the aero-engineer said it was making progress n its invest
Read moreLondon afternoon: Investors cautious ahead of G20 meeting
8th Nov 2010 13:47
The Footsie drifted lower over the lunchtime session, hitting a new low for the day, as the afterglow of the Fed's quantitative easing boost begins to fade. There was also an element of caution ahead of this week's Group of 20 meeting in South Korea. It's been an unusually busy Monday for company r
Read moreLondon midday: Footsie drifts lower
8th Nov 2010 12:28
Leading shares are mixed but still trending lower, with cautious investors banking a few profits after the UK market rose more than 3% last week. US futures point to a dull start on Wall Street, which is not helping shift the lacklustre mood. The Dow is tipped to start about 15 points below last we
Read moreLondon open: Unspectacular start for blue chips
8th Nov 2010 08:40
After the tumultuous events of last week London has paused for breath, with Footsie making only slight gains early on. The G20 summit will make headlines later in the week, but for now investors are bracing themselves for a deluge of blue chip announcements over the next few days. Warming up for t
Read moreSunday newspaper round-up: Rolls-Royce, BP, AIM...
7th Nov 2010 10:12
Rolls-Royce, the embattled aero-engine maker, is under further pressure this weekend after one of its rivals accused it of infringing a patent. America's Pratt & Whitney filed lawsuits in Connecticut and London's High Court late on Friday claiming Rolls unlawfully copied the design of a fan blade i
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