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MADRID/PARIS, March 13 (Reuters) - Doubts are growing over the future of Madrid's remaining orders for the Airbus (AIR.PA) A400M troop plane, European defence sources said on Monday, as corporate leaders and dignitaries marked the centenary of Spain's military planemaking activities. Prime Minister Pedro Sanchez, Defence Minister Margarita Robles and King Felipe also attended Monday's event. Spain and Airbus are in discussions over how to soften any impact from a partial A400M order cancellation, sources said. Defence publication Janes reported last year that Airbus was waiting for Madrid to back the SIRTAP tactical drone project, co-developed by Airbus Spain and Colombia. Spain also last year ordered an extra 20 Eurofighter combat jets, a four-nation fighter programmre for which Airbus is the industrial partner in Spain and Germany.

☆ Ukraine yet to make defence a safe investor haven
▼ + stars: | 2023-02-20 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

MUNICH, Feb 20 (Reuters Breakingviews) - The West’s rush to supply weapons to war-torn Ukraine looks like a golden opportunity for defence companies to exit the ESG doghouse. As with air-polluting coal, socially-minded investors including pension funds and insurers - particularly European ones - have long excluded or heavily restricted investment in defence companies on ethical grounds. Risk committees, particularly at domestic banks, are now more frequently assessing the merits of financing defence companies, two senior bankers among the 850 or so conference participants said. Proponents of the approach argue military companies that help Ukraine perform a globally valuable social function by upholding democracy. The Munich Security Index, a global risk perceptions survey conducted before the conference, showed security concerns had replaced climate challenges as the top concern.

[1/2] A Ukrainian serviceman rides inside a truck with artillery shells, amid Russia's attack on Ukraine, near a frontline in Zaporizhzhia region, Ukraine January 5, 2023. EU foreign ministers are expected to discuss the idea of joint procurement of 155-millimetre artillery shells – badly needed by Kyiv – at a meeting in Brussels on Monday. DEPLETED STOCKPILESA joint procurement effort would aim to replenish the stockpiles of Kyiv's allies, badly depleted after a year of supplying munitions to help Ukraine fight Russia's invasion. NATO Secretary-General Jens Stoltenberg said this week Ukraine was using up artillery shells faster than its allies could currently produce them. Diplomats and officials did not specify how much the EU might spend on joint procurement.

[1/2] A Ukrainian serviceman rides inside a truck with artillery shells, amid Russia's attack on Ukraine, near a frontline in Zaporizhzhia region, Ukraine January 5, 2023. EU foreign ministers are expected to discuss the idea of joint procurement of 155-millimetre artillery shells – badly needed by Kyiv – at a meeting in Brussels on Monday. DEPLETED STOCKPILESA joint procurement effort would aim to replenish the stockpiles of Kyiv's allies, badly depleted after a year of supplying munitions to help Ukraine fight Russia's invasion. NATO Secretary-General Jens Stoltenberg said this week Ukraine was using up artillery shells faster than its allies could currently produce them. Diplomats and officials did not put a figure on how much the EU might spend on joint procurement.

☆ Analysts see short-term strength, long-term 'generational shift' in copper prices
▼ + stars: | 2023-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Sheets of copper cathode are pictured at BHP Billiton's Escondida, the world's biggest copper mine, in Antofagasta, northern Chile March 31, 2008. Ivan Alvarado | ReutersAlong with experiencing a short-term supply shortage, copper is set to undergo a "generational shift" in demand as decarbonization ramps up, according to BNY Mellon Lead Portfolio Manager Al Chu. Short-term supply issues have also emerged alongside a rebound in demand, such as an eruption of protests in Peru, which accounts for 10% of the world's copper supply. Every renewable energy pretty much needs copper, because if you're talking about electrifying something and transmitting electricity, you need copper." "When you look at the long-term secular story, you can just see strong demand.

☆ Petr Pavel: who is the ex-army chief leading Czech presidential election race?
▼ + stars: | 2023-01-24 | by ( Jan Lopatka | ) www.reuters.com time to read: +5 min

Polls make the bearded retired general, 61, the favourite to win a run-off vote on Friday and Saturday against billionaire ex-prime minister Andrej Babis, 68. "We got into several tense situations and he always managed them with deliberation and calm," retired Czech general Ales Opata, who served in Croatia and after with Pavel, told Reuters. He lead the Czech general staff from 2012, during Czech involvement in operations in Afghanistan, and in 2015 became NATO's military committee chair, an advisory position of the alliance's secretary-general. Jiri Sedivy, chief executive of the European Defence Agency and former Czech ambassador to NATO, said Pavel was a decision-maker who could take responsibility. After Russia's 2014 annexation of Crimea, Pavel represented NATO in a 2017 meeting with Russian Chief of General Staff Valery Gerasimov.

☆ Spain, France champion Europe's industry in bilateral summit
▼ + stars: | 2023-01-19 | by ( Joan Faus | ) www.reuters.com time to read: +2 min

BARCELONA, Jan 19 (Reuters) - U.S. efforts to boost green technology should not lead to the dismantling of Europe's industry, Spanish Prime Minister Pedro Sanchez said on Thursday after signing a new bilateral treaty with French President Emmanuel Macron in Barcelona. The industrial references come amid an intense debate within the European Union on how to respond to government support measures under the U.S. Inflation Reduction Act (IRA). "We need to accelerate our green technology, and our 'Made in Europe' strategy," he said. About 6,500 Catalan separatists protested outside the museum where the summit took place against Sanchez's position on independence, according to police estimates. Catalonia's regional leader Pere Aragones greeted Sanchez and Macron before the summit, but left before both countries' anthems were played.

Many Germans viewed the end of the Cold War as the end of major conflict for the West. Germany has since become one of Ukraine's top military supporters, having spent 2.2 billion euros on weapons deliveries. 'EMPTY-HANDED' ARMYBeyond the immediate decision on tanks, Pistorius faces the mammoth task of upgrading Germany's military, the Bundeswehr, which army chief Alfons Mais, on the day of Russia's invasion, described as "more or less empty handed". Even before Russia's invasion of Ukraine, Germany was 20 billion euros short of reaching NATO's target for ammunitions stockpiling, a defence source said. Analysts and experts say Pistorius will have to find his own voice to push for more spending and an overhaul of Germany's defence and procurement systems.

[1/4] Italy's Defence Minister Guido Crosetto poses for a picture during an interview with Reuters, in Rome, Italy, December 16, 2022. Defence Minister Guido Crosetto, a co-founder of Prime Minister Giorgia Meloni's Brothers of Italy party, said Rome would make a final decision on how much to invest in the multi-billion-dollar project after more details had been defined. Crosetto said there should be no bar on joining forces with the rival European programme, adding that the GCAP should also aim to find new partners, especially within Europe. Italy has never disclosed details of its shipments, but Crosetto confirmed that Kyiv had requested air-defence systems, including the Franco-Italian SAMP/T. He added that Italy was also open to suggestions for joint procurement by the EU Defence Agency.

☆ EU defence agency chief: Europe cannot rely on U.S. alone as shield
▼ + stars: | 2022-12-16 | by ( John O'Donnell | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 16 (Reuters) - European Union states should buy arms jointly to replenish stocks after supplying Ukraine, said the bloc's defence agency, warning the United States may not always be able to shield Europe from threats. "The Russian war of aggression against Ukraine demonstrates our capability shortfalls," said Jiri Sedivy, chief executive of the European Defence Agency, an EU body that helps the bloc's governments to develop their military capabilities. The agency was in talks with European arms firms about boosting production, he said, as well as with countries about clubbing together to buy equipment and ammunition. Europe has had a splintered approach to defence, with countries mostly equipping their military on their own, spawning a patchwork of incompatible weapons and equipment. The war in Ukraine has confronted the region with its biggest challenge in a generation, exposing deep rifts in how to deal with Moscow.

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.

☆ Ukraine war shows Europe too reliant on U.S., Finland PM says
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

HELSINKI, Dec 2 (Reuters) - Russia's invasion of Ukraine has shown that Europe is too reliant on the United States for its own security, Finnish Prime Minister Sanna Marin said on Friday. We would be in trouble without the United States," Marin told an audience at the Lowy Institute. She added she had spoken with many U.S. politicians who had said they think Europe should be stronger. "The United States has given a lot of weapons, a lot of financial aid, a lot of humanitarian aid to Ukraine and Europe isn't strong enough yet," Marin said. "We have to make sure that we are building those capabilities when it comes to European defence, European defence industry."

☆ Finnish leader says the brutal truth is Ukraine shows Europe isn't 'strong enough' without the US
▼ + stars: | 2022-12-02 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

"I must be brutally honest with you, Europe isn't strong enough right now," Sanna Marin said. "We would be in trouble without the United States," Marin added. "I must be brutally honest with you, Europe isn't strong enough right now. We would be in trouble without the United States," Marin said during remarks at a think tank in Sydney, Australia, per Reuters. "The United States has given a lot of weapons, a lot of financial aid, a lot of humanitarian aid to Ukraine and Europe isn't strong enough yet," Marin said.

☆ EU leaders to push for defence investment programme at December summit -draft
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Nov 30 (Reuters) - European Union leaders are pushing to quickly establish an investment programme to ramp up production in the bloc's defence industry in light of the war in Ukraine, according to a draft of conclusions for a Dec. 15-16 summit. "The European Council ... calls on the Commission to rapidly present a proposal for a European Defence Investment Programme to reinforce the capacity and resilience of the European defence technology and industrial sector, including small and medium enterprises," said the draft, seen by Reuters on Wednesday. EU leaders will also push the bloc's executive commission and the European Defence Agency to intensify efforts to identify military gaps and coordinate joint defence procurement, in particular to replenish their stocks of materiel, which have been depleted in support of Ukraine. EU foreign policy chief Josep Borrell said this month that the EU and its member states have provided arms and military equipment worth at least 8 billion euros to Ukraine so far. At their summit in Brussels, EU leaders will also call for speedier implementation of infrastructure work meant to facilitate swift military movement across Europe, according to the draft document.

☆ Buy European, CEO of Airbus Helicopters urges military leaders
▼ + stars: | 2022-09-22 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

REUTERS/Fabrizio Bensch/File PhotoMARIGNANE, France, Sept 22 (Reuters) - The head of Airbus Helicopters (AIR.PA) has urged Europe to back its domestic defence industry when launching major new military programmes, as a row simmers over U.S. arms imports. Airbus Helicopters is marking 30 years since it was born through a Franco-German merger prompted by the development of the original Tiger version, sponsored initially by France and Germany and later Spain. While it competes with Boeing and Leonardo (LDOF.MI) on attack helicopters, Airbus agreed earlier this year to maintain H-47 Chinook heavy-lift helicopters sold by Boeing to Germany. But he laid down a marker that Airbus would fight for future replacements of core programmes like the NH-90. Airbus has teamed up with Leonardo to research technology to be fed into the NGRC programme, backed by the European Union's European Defence Fund.

☆ Oil stocks lift London's FTSE 100 amid Russia angst as Fed looms
▼ + stars: | 2022-09-21 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT. Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply after Russian President Vladimir Putin announced a partial military mobilisation. Register now for FREE unlimited access to Reuters.com RegisterBritain's biggest defence company BAE Systems jumped 5.3%, tracking its European peers, after Putin's remarks. "Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. The sterling dipped to its lowest against the U.S. dollar since 1985 after data showed Britain's budget deficit was bigger than expected in August.

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