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☆ BAE Systems snaps up Ball Corp's aerospace arm for about $5.55 bln
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems were down 3% by 0730 GMT. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The proposed deal would be treated as an asset purchase for federal tax purposes, BAE said. ($1 = 0.7856 pounds)Reporting by Yadarisa Shabong in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Cheney Orr, Chloe Lemarie, Charles Woodburn, Morgan Stanley, Yadarisa, Subhranshu Sahu, Jason Neely Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Britain's, Intelligence, Thomson Locations: Huntsville , Alabama, U.S, Colorado, Bengaluru

☆ Stocks making the biggest moves midday: Walmart, CVS Health, Wolfspeed and more
▼ + stars: | 2023-08-17 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cisco Systems — Shares of the computer networking giant added 4% after reporting earnings postmarket Wednesday that beat Wall Street's expectations. Adjusted earnings per share for its fiscal fourth quarter came in at $1.14, topping the $1.06 expected from analysts polled by Refinitiv. Revenue was $15.2 billion, compared with the $15.05 billion expected. The company reported adjusted earnings of $1.84 a share, ahead of the $1.71 expected by analysts polled by Refinitiv. Wolfspeed — Shares of the semiconductor developer dropped 16% following the company's earnings report after the bell Wednesday.

Persons: Mark Cuban's, Rosenblatt, Ball, Adyen, Wolfspeed, América, MSCI rebalance, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin, Michelle Fox Theobald Organizations: Cisco Systems —, Refinitiv, Revenue, Walmart, Refinitiv . Revenue, Street Journal, CVS, Blue, California, CVS Caremark, Amazon Pharmacy, FactSet . Investment, BAE Systems, Nasdaq, VinFast, Citi

☆ FTSE 100 falls at open on BAE drag, hawkish Fed minutes
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.4%, FTSE 250 off 0.3%Aug 17 (Reuters) - UK's FTSE 100 fell at open on Thursday driven by declines in defence stocks after BAE Systems slipped, while global sentiment turned cautious after minutes from the U.S. Federal Reserve's July meeting were perceived to be hawkish. The blue-chip FTSE 100 (.FTSE) was down 0.4% by 0711 GMT, while more domestically focussed FTSE 250 (.FTMC) dropped 0.3%. Shares of BAE Systems (BAES.L) fell 3% after the British defence group said it agreed to buy Ball Corp's (BALL.N) aerospace business for about $5.55 billion in cash. Precious metal miners (.FTNMX551030) fell 0.9% as gold prices touched five-month lows on a stronger dollar and rise in bond yields.

Persons: Toby Melville, Siddarth, Nivedita Organizations: London Stock Exchange, REUTERS, BAE Systems, U.S, U.S . Federal, Bank of Georgia, Thomson Locations: Canary Wharf, London, Britain, U.S ., Bengaluru

☆ BAE snaps up Ball's aerospace arm for $5.6 bln in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. The war in Ukraine has led to new demand for those in munitions supply chains, Tom Arseneault, head of BAE's U.S. business, told analysts. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

Persons: Cheney Orr, Tom Arseneault, Chloe Lemarie, Charles Woodburn, Yadarisa Shabong, Chandini, Susan Mathew, Subhranshu Sahu, Jason Neely, Sharon Singleton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Shore Capital, Britain's, British, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Colorado, Bengaluru

☆ The British navy is teaming up with the US to build a new 'Dreadnought' for a totally different battle at sea
▼ + stars: | 2023-08-13 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

The British Royal Navy is building a new class of nuclear-powered ballistic-missile submarines. The British subs will have the same missile compartment as the US Navy's new missile subs. At-sea deterrentThe Royal Navy submarine HMS Dreadnought in April 1963. The Royal Navy plans to commission HMS Dreadnought sometime in the early 2030s. In addition to being the largest British subs ever, the Dreadnought class will be one of the most expensive defense projects in British history.

Persons: SSPL, Royce, Christopher Furlong, King George VI ., Valiant, Warspite Organizations: British Royal Navy, British, Service, HMS, Dreadnought, Royal, Royal Navy, Ministry of Defense, Submarine, Agency, BAE Systems, Royce, Vanguard, UK, US, Trident, Columbia, CMC, US Navy's Trident, BAE, MoD Locations: Wall, Silicon, Britain, Faslane, US Navy Ohio, British, Barrow, Furness

FILE PHOTO-People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File PhotoSummaryCompanies First-half EPS up 17%Sees full-year EPS 10%-12% higher, previous forecast 5%-7%Lifts interim dividend by 11%Shares up 5%LONDON, Aug 2 (Reuters) - Britain's biggest defence company BAE Systems (BAES.L) upgraded its guidance for 2023, forecasting annual earnings growth of 10%-12%, as governments spend more on military equipment in "an increasingly uncertain world". BAE Systems said its good operational performance plus the demand from its customers, the biggest of which are the United States, Britain, Saudi Arabia and Australia, meant its full-year results would be better than expected across the board. Shares in BAE Systems jumped 5% in early deals. For 2023, BAE said earnings per share would grow 10%-12%, compared to the 5%-7% increase it had forecast in February, while it also lifted sales guidance to 5%-7% growth from 3%-5%.

Persons: Cheney Orr, Charles Woodburn, Woodburn, Hargreaves, Aarin, Sarah Young, Paul Sandle, Kate Holton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson Locations: Huntsville , Alabama, U.S, United States, Britain, Saudi Arabia, Australia, Russia, Ukraine, Asia, Pacific, Europe, Czech Republic, Poland, Qatar, Christian

☆ UK's FTSE 100 opens lower after surprise U.S. credit rating cut sours mood
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoSummaryCompanies FTSE 100 down 0.8%, FTSE 250 off 0.6%Aug 2 (Reuters) - UK's FTSE 100 opened lower on Wednesday, as global risk sentiment took a hit after ratings agency Fitch cut the United States' credit rating, while BAE Systems shares jumped after the defence company raised its full-year guidance. By 0709 GMT, the bluechip FTSE 100 index (.FTSE) fell 0.8%, touching a two week low, while the more domestically-focussed FTSE 250 midcap index (.FTMC) lost 0.6%. BAE Systems (BAES.L) added 4.7% after Britain's biggest defence company upgraded its guidance for 2023, forecasting annual earnings per share would grow 10-12%. ConvaTec Group (CTEC.L) jumped 4.0% after the technology firm raised its full-year guidance.

Persons: Toby Melville, Fitch, Shashwat Chauhan, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, BAE Systems, AAA, Smurfit Kappa, ConvaTec, Thomson Locations: City, City of London, Britain, United States, London, Bengaluru

☆ A.I. is changing national security systems. Here's what's ahead for defense stocks
▼ + stars: | 2023-07-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Vladimir Putin said in 2017 that whoever becomes the leader in artificial intelligence "will be the ruler of the world." The department examined AI technology in defense through two pathways: The first was "autonomy at rest," which describes decision-making support software. Critically, artificial intelligence in defense will help automate more dangerous tasks while also reducing the risk of human casualties. "As of now, there is not the development of artificial intelligence technology in regards to making life-or-death choices. Boeing announced earlier in 2023 that it would partner with defense technology company Shield AI to expand AI pilot offerings for its military clients.

Persons: Vladimir Putin, Bob Work, Jonathan Sakraida, Lockheed Martin, Sakraida, Northrop, Booz Allen Hamilton Organizations: Pentagon, Deutsche Bank, Department of Defense, Center, New, New American Security, U.S, Defense, CFRA Research, U.S . Army, Lockheed, Dynamics, Department of, Carnegie Endowment, International, IBM, Palantir Technologies, Cisco, BAE Systems, Research Projects Agency, Northrop Grumman, Booz, Boeing, Air Force Locations: New American, There's, China, U.S, United Kingdom

☆ Thales cyber push meets investor shoulder shrug
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 25 (Reuters Breakingviews) - France's Thales (TCFP.PA) is doubling down on cybersecurity with its $3.6 billion purchase of U.S. firm Imperva. Thales's boss Patrice Caine briefly considered buying Atos's (ATOS.PA) cybersecurity arm last year, but didn’t go through with it. The purchase values the Thoma Bravo-backed group at 17 times forecast 2024 operating profit, according to Thales. Meanwhile Caine’s push into the racy cyber sector doesn’t seem to register in the group’s valuation. That means investors are sceptical that Thales’s efforts to crack the war against hacking will work out for shareholders.

Persons: Patrice Caine, Thoma, Caine’s, Refinitiv Datastream, Pamela Barbaglia, Liam Proud, Streisand Neto Organizations: Reuters, Thales, Thoma Bravo, BAE Systems, Twitter, Thomson Locations: U.S, Spain

NEW YORK, July 7 (Reuters) - Private equity firms Blackstone Inc (BX.N) and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp (BALL.N), according to people familiar with the matter. The unit, which accounted for 13% of Ball's consolidated net sales in 2022, provides aerospace and national defense hardware, such as sensors and antennas. In June, Ball said it was considering options for its aerospace unit, after Reuters reported on the sale process. Blackstone owns Arka Group, an aerospace and defense technologies firm whose clients include the U.S. military, while Veritas owns companies including CAES Space Systems, which is a supplier of advanced electronic systems for aerospace and defense. Ball could incur a hefty tax bill of over $1 billion if the aerospace unit is sold for $5 billion or more, according to analysts at Jefferies.

Persons: Ball, Blackstone, David Carnevali, Mike Stone, Daniel Wallis Organizations: YORK, Blackstone Inc, Veritas Capital Fund Management, Ball Corp, BAE Systems, General Dynamics Corp, Textron Inc, Reuters, Blackstone, Veritas, Arka Group, U.S ., CAES, Systems, Bae Systems, Textron, General Dynamics, Lockheed Martin Corp, Rocketdyne Holdings, L3Harris Technologies, Jefferies, Thomson Locations: New York, Washington

☆ German coalition at odds over fighter jet sale to Saudi Arabia, Welt am Sonntag reports
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 1(Reuters) - Germany's coalition government is at odds over whether to bow to British pressure and approve the production of Eurofighter Typhoon fighter jets for Saudi Arabia, the newspaper Welt Am Sonntag reported on Saturday, citing anonymous sources. A third of the components for the jets come from Germany, industry sources told Reuters at the time. Since the rapprochement of Saudi Arabia and Iran, which could end their proxy war in Yemen, the British have argued that Germany cannot block the export of Eurofighter jets to third parties. A spokesperson for the Chancellery declined to comment to Welt am Sonntag. Reporting by Sabine Siebold; Writing by Victoria Waldersee; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Chancellor Olaf Scholz, Christian Lindner, Jamal Khashoggi, Angela Merkel, Sabine Siebold, Victoria Waldersee, Jonathan Oatis Organizations: Eurofighter Typhoon, BAE Systems, Reuters, Social Democrats, Finance, Greens, SPD, Eurofighter, Welt, Thomson Locations: BERLIN, Saudi Arabia, Riyadh, Yemen, Saudi, Germany, United States, France, Britain, Iran

☆ London stocks hit three-month low dragged by defence stocks; Aston Martin surges
▼ + stars: | 2023-06-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) slipped 0.4%, hitting a three month low as the aerospace and defence sector (.FTNMX502010) lost 2.1% after fighters of the Wagner group attempted a mutiny in Russia over the weekend. "Defence stocks tend to benefit from bad news in terms of geopolitical tensions," said Christopher Peters, trading floor manager at Accendo Markets. Britain's biggest defence company BAE Systems (BAES.L) slumped 3.1%, dropping to the bottom of the FTSE 100. The more domestically-focussed FTSE 250 midcap index (.FTMC) also fell 0.5%, touching a three-month low. Among individual stocks, Cineworld Group (CINE.L) dropped 28.9% after the cinema chain operator said it will file for administration as part of a proposed restructuring plan.

Persons: Russia Cineworld, Aston Martin, carmaker Aston Martin, Wagner, Christopher Peters, JP Morgan, Shashwat Chauhan, Sherry Jacob, Phillips Organizations: Defence, U.S, EV, Lucid, carmaker, Accendo, BAE Systems, Lloyds, Bank of England, Bank for International, Cineworld, Thomson Locations: Russia, Bengaluru

☆ General Dynamics, Rheinmetall to compete for potential $45 bln US Army vehicle contract
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

[1/3] U.S. servicemen drive Bradley infantry fighting vehicles during the joint U.S.-Georgian exercise Noble Partner 2015 at the Vaziani training area outside Tbilisi, Georgia, May 21, 2015. REUTERS/David MdzinarishviliWASHINGTON, June 26 (Reuters) - The U.S. Army said on Monday it had selected General Dynamics (GD.N) and American Rheinmetall (RHMG.DE) to compete to replace the Bradley fighting vehicle, in a deal that could be worth more than $45 billion to the winner. A single competition winner will be given a production contract in 2027, Army officials said, with fielding of the first vehicles in 2029. Ultimately, some of the functions of the vehicle would be autonomous, Army officials said. The Army has struggled to replace the Bradley over a number of years, with a previous attempt abandoned.

Persons: David Mdzinarishvili WASHINGTON, Bradley, Mike Stone, Chris Sanders, Jamie Freed Organizations: Bradley, REUTERS, U.S . Army, Dynamics, Rheinmetall, Army, Point Blank Enterprises, Oshkosh Defense, BAE Systems Land, Armaments, Thomson Locations: Tbilisi , Georgia

☆ Ball Corp considers options for aerospace unit
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Ball Corp (BALL.N), the world's largest supplier of beer cans, said on Tuesday it was considering options for its aerospace business, days after a report said the company was looking to sell the unit for more than $5 billion. The business has attracted the interest of large defense companies such as BAE Systems (BAES.L) and Textron (TXT.N), as well as private equity firms, the Reuters report had said. There is no certainty that any formal decision will be made, Ball Corp said in a statement on Tuesday. The divestment of the aerospace business, which accounted for 13% of Ball's consolidated net sales in 2022, would allow the company to focus more on its beverage packaging operations and trim its debt pile of about $9.7 billion. Reporting by Shivansh Tiwary in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Shivansh, Shinjini Organizations: Ball Corp, BAE Systems, Textron, Reuters, Thomson Locations: Bengaluru

PARIS, June 19 (Reuters) - Ukraine is in negotiations with Western arms manufacturers to boost production of weapons, including drones, and could sign contracts in coming months, a Ukrainian minister told Reuters. Since Russia's invasion of Ukraine last year Ukraine has been scrambling to secure weapons ranging from munitions to rocket launchers to missiles. "That's why we think international partners coming to Ukraine, setting up production and making Ukraine part of the security framework for the free world is so essential." And some of the companies say that they are willing to come and invest and produce drones," he said. But Boyev is hopeful that the country can attract foreign drone makers and said the Ukraine government could offer substantial support.

Persons: Sergiy Boyev, Boyev, Volodomyr Zelenskiy, dronemakers, Baykar, Joanna Plucinska, Valerie Insinna, Olena Harmash, Susan Fenton Organizations: Strategic Industries, Kyiv, Reuters, Ukraine's, British, BAE Systems, Paris, Thomson Locations: Ukraine, Western, Ukrainian, United States, Germany, Britain, Italy, France, Europe, Paris, Kyiv, Turkish, Russia, Moscow, Turkey, Norway, European

June 16 (Reuters) - Ball Corp (BALL.N), the world's largest supplier of beer cans, is exploring a sale of its business that provides aerospace and national defense hardware, such as sensors and antennas, for over $5 billion, people familiar with the matter said on Friday. Ball launched an auction process to sell the aerospace unit in recent weeks, the sources said. Spokespeople for Ball and Textron did not immediately respond to requests for comment, while BAE declined to comment. Ball shares rose 7% to $58.57 in afternoon trading in New York on Friday, giving the company a market value of more than $18 billion. The aerospace business has been generating steady albeit limited cash flow for Ball, accounting for $170 million out of its $1.45 billion in comparable operating earnings in 2022.

Persons: Ball, David Carnevali, Leslie Adler, Bill Berkrot Organizations: Ball Corp, BAE Systems, Textron, Ball, BAE, National Aeronautics and Space Administration, NASA, Oceanic, Thomson Locations: Westminster , Colorado, New York

☆ NATO pushes for common standards to tackle shortfalls in artillery munitions
▼ + stars: | 2023-06-13 | by ( Sabine Siebold | ) www.reuters.com time to read: +5 min

But the lack of common standards among the various manufacturers has hampered the flow of munitions supplies. It will take place on the sidelines of a NATO defence ministers' meeting in Brussels on Thursday and Friday. Demand for 155mm artillery rounds has soared in the wake of the invasion of Ukraine in February 2022. "If national governments could bring themselves to throw national standards over board and agree on common NATO standards – in particular with regard to munitions – this would be a landslide change," the defence source said. Before that many NATO countries had already run down their stocks as governments considered wars of attrition with big artillery battles a thing of the past.

Persons: Caesar, Jens Stoltenberg, KMW, Leonardo, Northrop, Abrams, Armin Papperger, Sabine Siebold, Gwladys Fouche, Angus MacSwan Organizations: Separate Artillery Brigade, REUTERS, NATO, BAE Systems, Turkish, Dynamics, Leopard, Lockheed, Northrop Grumman, British Storm Shadow, Rheinmetall, RND, Thomson Locations: Ukraine, Avdiivka, Donetsk region, BRUSSELS, Kyiv, NATO, Brussels, Kongsberg, Vilnius, Oslo

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Ulta, FedEx, Roblox, Netflix, Oracle & more
▼ + stars: | 2023-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs upgrades Devon Energy to buy from neutral Goldman said the energy company's valuation is attractive. Morgan Stanley initiates BAE Systems as buy Morgan Stanley said the aerospace and defense company has an "attractive capital deployment policy." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it expects Tesla to build a "full-scale captive financing subsidiary as the market matures." Morgan Stanley upgrades Urban Outfitters to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it has an attractive valuation. Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating on FedEx heading into earnings next week.

Persons: it's bullish, Goldman Sachs, Goldman, Salesforce, Piper Sandler, Piper, AIZ, Morgan Stanley, Canaccord, Roblox, Stone, Tesla Organizations: Bank of America, Netflix, Devon Energy, PayPal, JPMorgan, Deutsche Bank, Deutsche, BAE Systems, HSBC, Stone, Urban, Oracle, FedEx, UBS, Apple Locations: Devon

☆ Securonomics is fuzzy new lodestar for investors
▼ + stars: | 2023-06-02 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

During the era of free trade and financial liberalisation, the politicians danced to the economists’ tune. President Joe Biden’s National Security Advisor explained that the era of unqualified support for free markets is over. The state will explicitly subsidise “specific sectors that are foundational to economic growth (or) strategic from a national security perspective,” Sullivan explained. Internationally, meanwhile, free trade is no longer the pole star. Sullivan’s 5,000-word speech devoted just three sentences to the World Trade Organization.

Persons: Rachel Reeves, Jake Sullivan, Joe Biden’s, ” Sullivan, Jacob Soll, Jean, Baptiste Colbert, Alexander Hamilton, Adam Smith, securonomics, Colbert, Hamilton, Christine Lagarde, Lagarde, ”, Soll, Peter Thal Larsen, Pranav Kiran Organizations: Reuters, Labour, Bank of England, White, U.S . Treasury, U.S . Trade Representative, Joe Biden’s National, Biden, offshoring, World Trade Organization, Industries, BAE Systems, Dow, Aerospace, Defense, U.S, Treasury, University of Southern, European Central Bank, Soviet, Russia, Thomson Locations: Washington, Tellingly, States, French, Scottish, University of Southern California, China, United States, Europe, Saudi Arabia

☆ Ukraine says it's working with BAE to set up weapons production facility
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

Zelenskiy spoke after talks with senior officials from BAE, including Chief Executive Charles Woodburn. "It is indeed a massive manufacturer of weaponry, the kind of weaponry that we need now and will continue to need," Zelenskiy said in an evening video address. "We are working on establishing a suitable base in Ukraine for production and repair. This encompasses a wide range of weaponry, from tanks to artillery," he added. Earlier in the day, Zelenskiy said the two sides had agreed to start work on opening a BAE office in Ukraine.

Persons: Volodymyr Zelenskiy, Charles Woodburn, Gabby Costigan, Ukraine Christian Seear, Read, Zelenskiy, David Ljunggren, Bill Berkrot Organizations: BAE Systems, Ukraine Christian, BAE, Thomson Locations: Ukraine, Kyiv

[1/2] Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby MelvilleNEW DELHI, May 29 (Reuters) - India has filed a graft case against Britain's BAE Systems plc (BAES.L) and Rolls-Royce Holdings (RR.L) for "criminal conspiracy" in the procurement and licensed manufacturing of 123 advanced jet trainers, a federal police document showed. The case is based on the findings of an investigation launched by India's Central Bureau of Investigation (CBI) in 2016, the document dated May 23 said. In its response BAE said it would be inappropriate to comment on an ongoing probe. Between 2008 and 2010, it said the Indian government approved the licensed manufacturing of an additional 57 jets for 95 billion rupees ($1.16 billion) under a separate agreement with BAE Systems (Operations) Ltd.

☆ I tested a private jet simulator. It was like playing a video game — but way more stressful.
▼ + stars: | 2023-05-21 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

I tried out a private jet simulator at a BAE Systems location in England. I tested its latest head-up display (HUD) technology, which is designed to make flying easier. I visited a BAE Systems base to try out its latest private jet simulator and experience what it's like to fly celebrities or the superrich around the world. My visit also gave me the opportunity to use one of BAE's most powerful tools — its head-up display (HUD). According to Charles, BAE is working on proposals for airlines, private jet operators, and prospective military clients to use the equipment.

☆ Bank of America loves these 10 unloved global stocks with major upside
▼ + stars: | 2023-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America strategists have named the ten European stocks they believe are currently undervalued and could provide significant investment returns. These picks, which the investment bank refers to as the "Beat Factor Top 10," are primarily made up of industrial and financial companies. Bank of America analysts expect shares of Airbus to rise by 64% to 200 euros per share ($217) over the next 12 months. The "Beat Factor" is a measure Bank of America analysts use to identify the most divergent stock ideas on the FTSE Eurofirst 300. Despite the share price gains, Bank of America strategists remain bullish on the stock coming out of the earnings season.

☆ 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.

☆ Missile maker MBDA signs 1.9 billion pound deal with Poland
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 28 (Reuters) - The UK arm of European missile maker MBDA on Friday agreed a 1.9 billion pound ($2.37 billion) deal with Poland to provide it with a British-designed air defence system, the British government said. "I am delighted that the UK and Poland’s deep and historic defence ties take another step forward with the signing of the largest ever UK defence export deal with Poland," British defence minister Ben Wallace said in a statement. The missile deal will see Britain deliver 22 Polish air defence batteries with British Common Anti-Air Modular Missiles (CAMMs) and launchers. The government said the contract would support more than 500 jobs at MBDA UK. The government said the British-designed CAMMs developed by MBDA UK are already deployed to Poland with the British Army to protect its airspace following Russia's invasion of Ukraine.

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