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REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsROME, Nov 15 (Reuters) - Italy's Leonardo (LDOF.MI) is trimming its stake in U.S. unit DRS (DRS.O) as new CEO Roberto Cingolani looks to expand the state-controlled group with major roles in European defence projects. Two sources at Leonardo confirmed that the DRS deal was part of that strategy. Cingolani, a former government minister who became CEO in May, has embraced the need to create broader European alliances to take advantage of rising defence budgets. It has pointed to its cross-border MBDA European missile company joint venture with Airbus (AIR.PA) and BAE Systems (BAES.L) as a model for the projects. Some analysts expressed surprise that the company was reducing its stake in DRS, acquired 15 years ago in a $5.2 billion deal when the Italian group was known as Finmeccanica.

Persons: Leonardo, Dado Ruvic, Roberto Cingolani, Cingolani, Intesa Sanpaolo, Leonardo's, Nick Cunningham, Giulia Segreti, Armellini, Kirsten Donovan Organizations: REUTERS, Rights, DRS, Global Combat Air, Leopard, Airbus, BAE Systems, Agency Partners, Thomson Locations: U.S, East, Europe, Italy, Britain, Japan, Leonardo's Milan, Italian, Rome

☆ Italy's Leonardo to offer 6.3% stake in US subsidiary in share sale
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 15 (Reuters) - Italy's state-controlled defence and aerospace group Leonardo (LDOF.MI) on Wednesday said it would sell a 6.3% minority stake in its U.S. subsidiary Leonardo DRS (DRS.O) on the market. The 16.5 million shares in Leonardo DRS making up the stake are worth about $344.2 million, according to Reuters calculations based on their closing price on Wednesday. Proceeds from the sale will be used to increase financial flexibility to finance possible investments and acquisitions, Leonard said in its statement announcing the sale. Index provider MSCI (MSCI.N) on Tuesday added Milan-listed Leonardo to its widely-followed MSCI ACWI stock index. Last week, Leonardo posted rising core earnings, revenues and new orders and confirmed its full-year guidance.

Persons: Leonardo, Dado Ruvic, Leonard, Morgan Stanley, Morgan, Urvi, Tom Hogue Organizations: REUTERS, Leonardo DRS, DRS, BofA Securities, Thomson Locations: Milan, European, Bengaluru

☆ MBDA's British arm signs $5 bln deal to bolster Poland's air defence system
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

British Secretary of State for Defence Grant Shapps walks outside Number 10 Downing Street, in London, Britain, October 24, 2023. REUTERS/Hannah McKay Acquire Licensing RightsLONDON, Nov 7 (Reuters) - The British arm of defence firm MBDA has signed a 4 billion pound ($4.92 billion) deal to supply Poland with ground-based air defence systems, the British government said on Tuesday. Britain's Ministry of Defence said the partnership would boost Poland's Narew air defence programme and help bolster European security amid the conflict in Ukraine. "This is another crucial step forward for our historic defence ties with Poland, supplying next generation air defence capabilities to act as a clear deterrent to our adversaries," British Defence Secretary Grant Shapps said. The air defence system would be able to launch missiles at air threats such as cruise missiles and fighter jets at ranges of more than 40 kilometres, the ministry said.

Persons: Defence Grant Shapps, Hannah McKay, MBDA, Grant Shapps, Mariusz Blaszczak, Italy's Leonardo, Sachin Ravikumar, Alan Charlish, William James Our Organizations: State, Defence, REUTERS, Britain's Ministry of Defence, British, Airbus, Britain's BAE Systems, Thomson Locations: London, Britain, British, Poland, Ukraine, Poland's

☆ Australia to retire Taipan helicopter fleet early after crash
▼ + stars: | 2023-09-29 | by ( Renju Jose | ) www.reuters.com time to read: +3 min

The Taipan fleet will not return to flying operations before the previously planned withdrawal date of December 2024, Defence Minister Richard Marles said. Australia in January said it would buy 40 Black Hawk military helicopters, manufactured by Lockheed Martin (LMT.N), for an estimated A$2.8 billion ($1.80 billion). The Black Hawks are set to replace the Australian army's fleet of Taipan helicopters, which have been plagued for years by maintenance issues. "The first of the 40 Black Hawks that will replace the (Taipan) MRH-90 have arrived and are already flying in Australia. Marles acknowledged there would be "capability challenges" without an operational Taipan fleet and as defence waits for the delivery of more Black Hawks.

Persons: Dinuka, Richard Marles, Lockheed Martin, Marles, Italy's Leonardo, Leonardo, Renju Jose, Jamie Freed Organizations: Australian Navy, Australian Landing Helicopter, REUTERS, Rights, United States, Black Hawk, Lockheed, Black Hawks, Australian, Airbus, ABC, Thomson Locations: Canberra, Colombo, Sri Lanka, Australia, France, Norway, Queensland, United States, Sydney

☆ Former captain Bonucci starts legal battle against Juventus over club exit
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

"I have decided, after great suffering, to take the path of a lawsuit towards Juventus," Bonucci told Sport Mediaset in an interview published on Thursday. Bonucci said he did not feel remorse towards his former club nor was seeking financial reward, and that if he won the legal battle he would donate all the proceeds to charity. Juventus are the fans, the team, my former team mates," Bonucci said. "I want to continue to play and trouble Spalletti for the national team," Bonucci said. Bonucci added his hopes are to be back at Juventus one day as coach.

Persons: Leonardo Bonucci, Florion, Massimiliano Allegri, Bonucci, Luciano Spalletti, Spalletti, Anita Kobylinska Organizations: Soccer Football, Air Albania, REUTERS, Juventus, United States, Serie, Juve, Bundesliga, Union Berlin, Sport Mediaset, Thomson Locations: Albania, Italy, Tirana, Turin, Gdansk

☆ UK, Japanese, Italian Partners Agree Next Steps for Fighter Jet
▼ + stars: | 2023-09-12 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Britain's BAE Systems, Japan's Mitsubishi Heavy Industries, and Italy's Leonardo have agreed the next steps to deliver the concept phase of a next-generation combat aircraft, BAE Systems said on Tuesday. The three nations agreed in December 2022 to collaborate to build an advanced front-line fighter to enter service around the middle of the next decade. The new Global Combat Air Programme (GCAP) agreement will support discussions to set out working arrangements and capability requirements for the aircraft, BAE said. The three nations will update on the project's progress at London's DSEI international arms fair this week, BAE said. Britain's defence ministry had committed 2 billion pounds to the project, formerly known as Tempest, before Japan and Italy joined.

Persons: Italy's Leonardo, Herman Claesen, BAE's, GCAP, Sachin Ravikumar, Paul Sandle, Sarah Young Organizations: BAE Systems, Mitsubishi Heavy Industries, Global Combat Air, BAE, London's Locations: Italy, Japan

☆ Germany Forges Pact for Leopard 2 Successor in Snub to Paris - Handelsblatt
▼ + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

BERLIN (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The initiative is to take place under the leadership of Krauss-Maffei Wegmann (KMW) and Rheinmetall, the German arms makers building the Leopard 2, Handelsblatt reported, citing unnamed industry and political sources. The German defence ministry did not immediately respond to a request for comment. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: BERLIN, Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Germany forges pact for Leopard 2 successor in snub to Paris, Handelsblatt reports
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 6 (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The German defence ministry did not immediately respond to a request for comment. The delays to the proposed Franco-German project have strained ties already tested by differences over energy topics and the question to what extent Europe should become independent from the U.S. in its security policy. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco, Thomson Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

☆ Italy's Leonardo to focus on 'bytes and data', new CEO says
▼ + stars: | 2023-07-28 | by ( Alvise Armellini | ) www.reuters.com time to read: +2 min

ROME, July 28 (Reuters) - Italy's state-controlled defence and aerospace group Leonardo (LDOF.MI) needs to focus on the fast-growing cybersecurity and space sectors to keep up with industry trends, its new CEO said on Friday. "Defence is increasingly made with bytes and data, instead of bullets," Cingolani said during a call with analysts, announcing a new industrial plan that will be unveiled in early 2024. In the first half of 2023, Leonardo's new orders rose to almost 8.7 billion euros ($9.60 billion), up 18.9% year-on-year, while group net debt fell to 3.6 billion euros from 4.8 billion euros in the first half of last year. H1 revenues were up 4.8% to just under 6.9 billion euros, while earnings before interest, taxes depreciation and amortisation (EBITDA) rose by 3.5% to 703 million euros. Leonardo's confirmed guidance for 2023 includes a forecast for new orders at around 17 billion euros, revenues in the 15-15.6 billion euro range, EBITA at 1.26-1.31 billion euros and group net debt of about 2.6 billion euros.

Persons: Leonardo, Roberto Cingolani, Cingolani, Leonardo's, Alvise Armellini, Gavin Jones, Deepa Babington Organizations: Defence, Thomson Locations: Ukraine, Italy, Britain, Japan, Leonardo's Milan

☆ Kipyegon sets women's 1,500m world record, Kerly wins 100m in Florence
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

Kipyegon shaved almost an entire second off the previous mark of 3:50.07 set by Ethiopia's Genzebe Dibaba in 2015. The world record completes the 29-year-old's collection of feats, adding to her two Olympic 1,500m golds and the 2017 and 2022 world titles, Commonwealth Games gold medal from 2014 and three Diamond League titles. Dina Asher-Smith, who won the world 200 metres title in Doha in 2019, pulled out in the build-up to the race. Spaniard Mohamed Katir produced a lung-busting performance to win the 5,000m with a world leading 12:52.09, with world record holder Joshua Cheptegei coming in fourth. Reporting by Aadi Nair in Nashik, India; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Pietro Mennea Golden, Luigi Ridolfi, Kipyegon, Remo Casilli FLORENCE, Fred Kerley, Ethiopia's Genzebe, Britain's Laura Muir, Jessica Hull, Muir, Ferdinand Omanyala, Trayvon, Jamaica's Yohan Blake, Jacobs, Ivorian Marie, Josee Ta Lou, Gina Lueckenkemper, Imani, Lara Lansiquot, Dina Asher, Smith, Ta Lou, Erriyon Knighton, Grant Holloway, Mohamed Katir, Joshua Cheptegei, Italy's Leonardo Fabbri, Andy Diaz, Larissa Iapichino, Aadi Nair, Ken Ferris Organizations: Diamond League, Commonwealth Games, Kenyan, Rabat, Thomson Locations: Florence, Italy, Ivorian, Doha, Netherlands, Rabat, Nashik, India

☆ Mitsubishi Heavy expects record defence orders as Japan pours money into military
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

TOKYO, May 10 (Reuters) - Mitsubishi Heavy Industries (7011.T) on Wednesday said it expects to book record defence equipment orders this business year as Japan embarks on its biggest military expansion since World War Two. His company said it expects defence orders to jump by around a half to as much as 850 billion yen ($6.29 billion) in the first year of Japan's five-year $318 billion military build up which began in April. The maker of missiles, tanks, submarines and other defence equipment is Japan's biggest defence contractor, with military work accounting for around a tenth of overall revenue. Many other military contractors in Japan, however, have been hesitant to invest in defence businesses as they often represent a much smaller share of sales. Mitsubishi Heavy, which makes products ranging from air conditioners to nuclear reactors expects overall operating profit for the business year to increase by a half to 300 billion yen.

[1/5] A concept model of the Global Combat Air Programme (GCAP)'s fighter jet is displayed at the DSEI Japan defense show at Makuhari Messe in Chiba, east of Tokyo, Japan March 15, 2023. REUTERS/Kim Kyung-HoonTOKYO, March 15 (Reuters) - Britain and Japan are set to dominate a three-nation project with Italy to build an advanced jet fighter, with Rome set to pay around only a fifth of the overall development cost, two sources said. "The cost of the project will likely be around 40% each for Japan and Britain," one of the people with knowledge of discussions told Reuters. Japan's defence ministry said that discussions were ongoing and declined to comment on the cost sharing ratios. Details of which companies will build what components are being hammered out in regular talks between more junior government officials and contractors in Britain, Japan and Italy, the sources said.

☆ At least 16 killed in Nepal's worst air crash in 30 years
▼ + stars: | 2023-01-15 | by ( ) www.cnbc.com time to read: +1 min

Rescuers and onlookers gather at the site of a plane crash in Pokhara on January 15, 2023. An aircraft with 72 people on board crashed in Nepal on January 15, Yeti Airlines and a local official said. At least 16 people were killed on Sunday when an aircraft crashed in western Nepal's Pokhara, an army spokesman said, in the small Himalayan country's worst crash in more than 30 years. Yeti Airlines has a fleet of six ATR72-500 planes, according to its website. Nepal Prime Minister Pushpa Kamal Dahal has called an emergency cabinet meeting after the plane crash, a government statement said.

☆ At least 40 killed in Nepal's worst air crash in nearly five years
▼ + stars: | 2023-01-15 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

[1/3] Crowds gather at the crash site of an aircraft carrying 72 people in Pokhara in western Nepal January 15, 2023. Sagar Raj Timilsina/Handout via REUTERSKATHMANDU, Jan 15 (Reuters) - At least 40 people were killed on Sunday when a domestic flight crashed in Pokhara in Nepal, a Nepal aviation authority official said, in the small Himalayan country's worst crash in nearly five years. Local television showed thick black smoke billowing from the crash site as rescue workers and crowds of people gathered around the wreckage of the aircraft. The plane was 15 years old, according to flight tracking website FlightRadar24. Nepal Prime Minister Pushpa Kamal Dahal has called an emergency cabinet meeting after the plane crash, a government statement said.

☆ UK, Japan, and Italy are joining forces to build a new next-generation fighter jet that can fight with artificial intelligence
▼ + stars: | 2022-12-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

Britain, Japan, and Italy are working to build a next-generation fighter jet together. The fighter jet will have cutting-edge weapons and advanced capabilities, such as the ability to work with uncrewed aircraft. Britain's defense ministry said in a release that it hopes to develop the fighter jet with various advanced capabilities such as cutting-edge weapons, innovative data systems, and advanced sensors. UK Prime Minister Rishi Sunak said that the aircraft's development, and partnership with Japan and Italy, highlights that "the security of the Euro-Atlantic and Indo-Pacific regions are indivisible." In a joint statement with Japan's defense ministry on Thursday, the US Department of Defense said it supports Tokyo's security cooperation with London and Rome.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a bridge between Europe and Asia that marks Japan's first major industrial defence collaboration beyond the United States since World War Two. Britain also wants Japan to improve how it provides security clearances to contractors, sources with knowledge of the discussions told Reuters. The two new platforms would compete head-on with each other and the United States in the global fighter market. "There is going to be a Battle Royal in the next 10-15 years in positioning the various players," said UK defence analyst Francis Tusa. The United States, which has pledged to defend all three countries through NATO and a separate security pact with Japan, welcomed the new Europe-Japan agreement.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a ground-breaking partnership spanning Europe and Asia that is Japan's first major industrial defence collaboration beyond the United States since World War Two. Amid what it sees as deteriorating regional security, Japan this month will announce a military build up plan that is expected to double defence spending to about 2% of gross domestic product over five years. Britain also want Japan to improve how it provides security clearances to contractors who will work on the aircraft, sources with knowledge of the discussion told Reuters. The United States, which has pledged to defend all three countries through its membership of NATO and a separate security pact with Japan, also welcomed the joint Europe-Japan agreement. "The United States supports Japan's security and defence cooperation with likeminded allies and partners, including with the United Kingdom and Italy," the U.S. Department of Defense said in a joint statement with Japan's Ministry of Defense.

☆ European shares pulled down by Mercedes, defence stocks up after Poland blast
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Mercedes slides on report of China EV price slashesEuropean autos sector eyes worst day in nearly 7 weeksBiden says missile that hit Poland may not have come from RussiaNov 16 (Reuters) - European shares fell on Wednesday, with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 (.STOXX) index fell 0.4% by 0924 GMT. Auto stocks (.SXAP) tumbled 2.8% to lead sectoral declines, and were headed for their biggest one-day percentage fall in almost seven weeks. The European aerospace and defence (.SXPARO) sector climbed 0.9% following news of the blast. Multiple data points signalled a euro zone recession amid the European Central Bank's aggressive monetary tightening cycle to control record-high inflation.

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