India picks French jet over Eurofighter in $10bn deal

French firm Dassault has emerged as the lowest bidder for a $10bn (£6.3bn) contract to supply India jet fighters.

Dassault Aviation, as preferred bidder, will now enter final talks before signing a deal that will supply India's air force with 126 Rafale aircraft.

Correspondents say this is one of the world's biggest defence deals and is a major setback for rival bidder, the Eurofighter Typhoon.

Typical, cheapskates. Went short yesterday @ 314.0

Dare I ask - how is the (not) smoking going!

Struggling skinny, if you watched the Everton v City match last night must have smoked 5 in the last 10 mins :O) Will get there eventually though.

It is ultimately worth it - good luck!

It's all getting very interesting in the Premiership atm - which is great!

Premiership Table

And out + 2.0

I totally missed this earlier - Final Results.

FINANCIAL KEY POINTS
- Headline sales2 reduced by 14%
- Underlying EBITA3 of £2,025m (2010 £2,179m) impacted by:
- a £160m charge in the first half on the Omani Offshore Patrol Vessel (OPV) programme
- a £125m benefit from a UK Ministry of Defence settlement agreement
- a £60m benefit from the increase in the carrying value of the Trinidad and Tobago OPVs upon agreement of a sale to the Brazilian Navy
- deferred recognition of sales and profit relating to the formalisation of price escalation on the Salam Typhoon programme
- Benefit of 5.9p per share from an agreement with the UK tax authorities
- Underlying earnings4 per share broadly in line with 2010, excluding the tax agreement benefit
- Total dividend increased by 7.4% to 18.8p
- £500m market purchase of shares completed
- $1.25bn (£0.8bn) debt financing completed

BAE Typhoon deal 'sustains' Warton and Samlesbury jobs

BAE Systems has won a £446m maintenance contract to offer support services for European Typhoon jets.

The order will help secure around 600 engineering, supply chain and project management jobs at the firm's plants in Warton and Samlesbury.

Ex-divi next wed 18th Apr (11.3p)

Interim Management Statement.

Trading for the period has been consistent with management expectations at the time of the 2011 preliminary results announcement on 16 February 2012. As previously indicated, whilst little sales growth can be expected for the Group in 2012 in the current market conditions, modest growth in underlying earnings per share is anticipated, assuming a satisfactory conclusion to Salam negotiations in 2012 and excluding the benefit of the 2011 Research & Development tax settlement. A higher level of operating business cash inflow is planned for the Group in 2012 with the anticipated benefit of cash receipts related to the Salam programme.

Where to now?

I'm short from 293.9 initial target 280.0 stop now at entry. If 280.0 goes next target 270.0.

Looks a good trade Chris, the chart is certainly looking down.

Less risky now stop at entry skinny, but you know what they are like similar to RR. if they win a contract sp jumps :O)

Closed @ 283.1 + 10.8

BAE Systems: building the UK’s new aircraft carrier

It is the second biggest engineering project in the UK behind the Olympics, generates enough energy to power every home in Swindon and has been a topic of political debate for years - the building of Britain’s new aircraft carriers is continuing apace.


See the latest images of the UK's new aircraft carriers

BAE Systems and Saudi Arabia sign £1.9bn Hawk jet deal

British defence giant BAE has signed a £1.9bn ($3bn) deal with Saudi Arabia to supply Hawk trainer jets.

According to trade union Unite 218 jobs at the East Yorkshire factory where the aircraft is made will now be saved.

Negotiations over the deal had been going on "for some time", according to a BBC correspondent.

BAE Systems plans to cut 105 jobs at Glascoed, Monmouthshire

BAE Systems is planning to cut 105 jobs at a munitions factory in Monmouthshire.

A total 620 people are currently employed at Glascoed. The firm said around 80% of the cuts will be contractor posts.

BAE blamed increased automation, as a result of a £50 million investment, and reduced demand for ammunition from the Ministry of Defence (MoD).

It said the cuts were "vital" for the site to remain competitive.

Old tank factory in Newcastle also shutting down (ex Vickers site) with the loss of hundreds of jobs (Originally employed over 20,000 workers when commissioned during the first WW).

19 July 2012

BAE Systems completes sale of BAE Systems Tensylon assets

19 July 2012

Further to the agreement announced on 8 June, BAE Systems has now completed the sale of the assets comprising its BAE Systems Tensylon High Performance Materials Inc. ("Tensylon") business to E. I. du Pont de Nemours and Company for cash consideration of $18 million.