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☆ Defense stocks in an ESG portfolio? A profound — and controversial — shift seems to be underway
▼ + stars: | 2024-09-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Jessica Gow | Afp | Getty ImagesRussia's ongoing war in Ukraine has resulted in a profound shift in the way defense stocks are viewed by mission-driven fund managers, according to two European defense giants. Defense stocks have typically been excluded from portfolios based on environmental, social and governance (ESG) factors due to ethical concerns over their association with warfare. Nonetheless, the inclusion of defense stocks in sustainably-minded portfolios remains controversial. It's really important that we see the role that defense companies play in protecting a free society. It's really important that we see the role that defense companies play in protecting a free society," he said.

Persons: Micael Johansson, Jessica Gow, Johansson, CNBC's Silvia Amaro, It's, Brad Greve, BAE Systems Johansson, hasn't, Ida Kassa Johannesen, Johannesen, Justin Tallis, Saab's Johansson, ESG, John Keeble, Greve Organizations: Saab, Afp, Getty, BAE Systems, Ukraine —, Saxo Bank, CNBC, Democratic, U.S, Republican, Democrats, Malloy Aeronautics, British Aerospace BAE Systems, Farnborough, Exhibition, Conference Centre Locations: Stockholm, Ukraine, Africa, Democratic Republic, Congo, Palestine, London, Farnborough, England

☆ Saab Digital Air Traffic Solutions CEO discusses partnership with Thales
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaab Digital Air Traffic Solutions CEO discusses partnership with ThalesPer Ahl, CEO of Saab's Digital Air Traffic Solutions, discusses the firm's signing of of a Memorandum of Understanding with Thales to support the long-term innovation and modernization of Singapore's Air Traffic Management infrastructure at the Singapore Airshow.

Organizations: Saab, Air Traffic, Thales, Saab's, Traffic Solutions, Air Traffic Management, Singapore

☆ Ukraine is getting a new US-made guided bomb meant to hit targets 90 miles away and overcome Russian jamming: report
▼ + stars: | 2024-01-31 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The sources, who agreed to speak on condition of anonymity, told the outlet that the Pentagon had successfully tested a new high-precision long-range ground-launched small-diameter bomb, also known as GLSDBs. AdvertisementOne US official said the bomb can hit targets as far as 90 miles away and gives Ukraine a "deeper strike capability," which "complements their long-range fire arsenal," per the outlet. A ground-launched small-diameter bomb tested in Norway in an undated photo shared by Saab AB. A ground-launched small-diameter bomb tested in Norway in an undated photo shared by Saab AB.

Persons: —, Svein Daae, Patrick Ryder, We'll Organizations: Service, Politico, Pentagon, Business, Saab Group, Boeing, Saab AB, Saab Locations: Ukraine, Norway

PARIS (AP) — As the Paris spring couture shows entered their third day, Jennifer Lopez ensured that the power of runway designs were matched by the power of a VIP audience. The singer and actress energized the Palais de Tokyo, arriving at the last minute for Elie Saab's show amid pandemonium. Haute couture — the fashion industry’s ideas factory — is the age-old tradition of producing exorbitantly priced, made-to-measure garments for the world’s richest women. NAKAZATO’S ‘BLOOD WEDDING’In a display that could be described as a theatrical “blood wedding,” Yuima Nakazato’s latest couture show intentionally left an eerie feeling. Nakazato, known for his boundary-pushing creativity, delved into the darker realms of fashion for spring.

Persons: Jennifer Lopez, Elie Saab's, Lopez marveled —, ” Yuima Organizations: PARIS, Palais, Saab Locations: Paris, Tokyo, Marrakech

☆ Ukraine's new long-range rocket delivery from US pushed to next year
▼ + stars: | 2023-11-30 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

It was reported by Politico in February that delivery wouldn't take place until later in 2023. Ukraine needs GLSDB to augment the limited number of 100-mile range ATACMS rockets the U.S. has sent. Because the contract to begin production of GLSDB was signed in March, according to a Pentagon statement to Reuters, delivery was forced towards year-end. The decision to send the long-range rocket, something the U.S. government hasn't purchased for itself, followed a proposal last summer from Boeing Co (BA.N) to U.S. commanders in Europe managing weapons for Ukraine. GLSDB is made jointly by Sweden's SAAB AB (SAABb.ST) and Boeing Co (BA.N).

Persons: GLSDB, hasn't, Mike Stone, Chizu Organizations: Pentagon, Boeing, Reuters, Politico, Mobility Artillery, Boeing Co, U.S, Sweden's SAAB, Thomson Locations: Ukraine, U.S, Russia, Europe, Washington

☆ Saab wins expanded U.S. contract for anti-armour system
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: 1 min

The logo of Swedish manufacturer Saab is seen on a car in Prague June 13, 2012. REUTERS/David W Cerny/File Photo Acquire Licensing RightsCOPENHAGEN, Sept 18 (Reuters) - Swedish defence equipment maker Saab (SAABb.ST) said on Monday the U.S. Department of Defense has expanded a framework deal for AT4 anti-armour systems and Carl-Gustaf ammunition, and placed a new order worth $104.9 million for delivery from 2024 to 2026. The extension of the agreement, which was originally signed in 2019, will allow the U.S. to buy Saab's close combat solutions for up to $422 million, including the new order announced on Monday, Saab said. The latest order will support the U.S. army, U.S. Special Operations Command and the U.S. Marine Corps, Saab said. Reporting by Louise Breusch Rasmussen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: David W Cerny, Gustaf, Louise Breusch Rasmussen, Terje Solsvik Organizations: Saab, REUTERS, Rights, U.S . Department of Defense, U.S ., Special Operations Command, U.S . Marine Corps, Thomson Locations: Swedish, Prague, Rights COPENHAGEN

☆ Honeywell to acquire heads-up display assets from Sweden's Saab
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - U.S. conglomerate Honeywell (HON.O) said on Wednesday it had agreed to acquire Swedish aerospace firm Saab's (SAABb.ST) heads-up display (HUD) assets to strengthen its avionics unit. The HUDs will be integrated into aircraft cockpit systems, adding features such as wide field-of-view, high image resolution, low system latency and lower weight. The HUD system helps pilots with increased situational awareness, especially at night or in difficult weather conditions. "Heads-up displays have been known to reduce pilot workload, increase situational awareness, improve access to airports with enhanced flight vision system and safety," said Vipul Gupta, general manager, avionics, Honeywell Aerospace. Reporting by Pratyush Thakur in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Vipul Gupta, Pratyush Thakur, Shilpi Majumdar Organizations: Honeywell, Boeing, Airbus, Honeywell Aerospace, Thomson Locations: Swedish, Bengaluru

Order intake at the company that makes a range of military and civilian hardware doubled to 17.02 billion crowns ($1.66 billion) from 8.1 billion, while its order backlog increased to 132.66 billion crowns from 128 billion crowns. Chief executive Micael Johansson said countries are increasing stocks to improve their own resilience, as well as to support Ukraine, which had translated into a strong order intake. Demand has been particularly strong in the surveillance and dynamics businesses, which include sensors, deterrents, support weapons and missiles, he said. Analysts at Citi said it was a strong start to the year for Saab, with sales, operating profit and orders beating consensus. Shares in Saab were up around 4.5% as the market opened, but reversed course later and at 0806 GMT were down 1.5%Operating profit for the maker of the Gripen fighter jet was 928 million Swedish crowns ($90.16 million) in the quarter, compared with 654 million crowns a year earlier.

☆ Brazil may buy more Swedish Gripen fighter jets, says minister
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, April 11 (Reuters) - Brazil is analyzing the option of expanding an order for Swedish manufacturer Saab's (SAABb.ST) Gripen fighter jets, though the number of additional aircraft which could be bought has yet to be determined, Defense Minister Jose Mucio told Reuters Tuesday. In 2014, Brazil signed a deal to purchase 36 Gripen fighter jets for its Air Force with the goal of modernizing its fleet. The first aircraft have already been delivered to Brazil and the remainder are expected to be delivered by 2027. The negotiations would involve forgoing some equipment and ammunition in exchange for "credit" toward the purchase of the four additional jets. Demand is great enough that Brazil could place a second order for around 30 more jets, the source said.

CARACAS, March 25 (Reuters) - An expanding anti-corruption probe in Venezuela has led to the detention of 10 officials and 11 businessmen, the country's attorney general said on Saturday, adding that arrest warrants for 11 more people have been issued. The investigation, which began in October, is focused on state oil company PDVSA, a government entity supervising crypto currency operations, and the judiciary. This week, it led to the resignation of the country's powerful oil minister, Tareck El Aissami, who had served the government for two decades. The 21 people arrested face accusations of appropriation of public assets, money laundering, influence peddling and criminal association. Officials involved could also face charges of treason, the attorney general said.

☆ U.S. readies $2 billion-plus Ukraine aid package with longer-range weapons -sources
▼ + stars: | 2023-01-31 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

The aid is expected to be announced as soon as this week, the officials said. It is also expected to include support equipment for Patriot air defense systems, precision-guided munitions and Javelin anti-tank weapons, they added. At the time it was expected GLSDB could be in Ukraine by spring. That aid was expected to include mine-resistant ambush-protected vehicles (MRAPs), guided multiple launch rocket systems (GMLRS) and ammunition. The U.S. has sent approximately $27.2 billion worth of security assistance to Ukraine since Russia's February 2022 invasion.

☆ An often overlooked Swedish fighter may be the jet Ukraine needs to take on Russia now, experts say
▼ + stars: | 2022-12-01 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The Saab JAS 39 Gripen fighter jet has earned high marks for its capabilities and affordability. But buyers have often passed on the Gripen in favor of other jets, including the US-made F-35. A Saab JAS 39C Gripen jet during an air show in June 2011. US Air Force F-16s with Swedish air force JAS 39 Gripens over the Baltic Sea during an exercise in June 2018. A new Brazilian Air Force F-39E Gripen at an air base in Brasilia in October 2020.

☆ Exclusive: U.S. weighs sending 100-mile strike weapon to Ukraine
▼ + stars: | 2022-11-28 | by ( Mike Stone | ) www.reuters.com time to read: +6 min

U.S. and allied military inventories are shrinking, and Ukraine faces an increasing need for more sophisticated weapons as the war drags on. GLSDB could be delivered as early as spring 2023, according to a document reviewed by Reuters and three people familiar with the plan. It combines the GBU-39 Small Diameter Bomb (SDB) with the M26 rocket motor, both of which are common in U.S. inventories. The invasion of Ukraine drove up demand for American-made weapons and ammunition, while U.S. allies in Eastern Europe are "putting a lot of orders," in for a range of arms as they supply Ukraine, Bush added. Any arrangement would also require at least six suppliers to expedite shipments of their parts and services to produce the weapon quickly.

☆ Defence manufacturer Saab to set up new facility in India, make weapons system
▼ + stars: | 2022-09-27 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swedish manufacturer Saab is seen on a car in Prague June 13, 2012. REUTERS/David W CernySept 27 (Reuters) - Swedish defence products company Saab (SAABb.ST) will set up a facility to manufacture its Carl-Gustaf M4 weapons system in India, a top executive said on Tuesday, as the company looks to ramp up production. The facility will begin production in 2024, Senior Vice President Gorgen Johansson told reporters at a news conference. From around 10 billion rupees ($122.62 million) of defence exports some eight years ago, India is now exporting more than 130 billion rupees of military equipment, Indian defence minister Rajnath Singh said on Tuesday. "We have set a target of 1.75 trillion of defence production by 2025, which includes export of 350 billion," Singh told a gathering of defence manufacturers.

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