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BAE Systems PLC

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  • US Army secretary optimistic on relief from budget caps Wednesday, 25 Feb 2015 | 10:26 AM ET

    McHugh said that if the budget caps, known as sequestration, remained in place, U.S. lawmakers would have to make tough decisions about which missions it wanted to Army to abandon. If sequestration cuts take effect, he said, the Army would try to protect two big weapons programs for new ground vehicles: a Humvee replacement contract due to be awarded this year, and a...

  • *UAE signs $1 bln satellite contract with Airbus, Thales. *UAE spends 9.5 bln dirhams on defense contracts at IDEX. ABU DHABI, Feb 23- The United Arab Emirates is still in talks with both BAE Systems and Dassault Aviation over the possible multi-billion-dollar purchase of fighter jets, a spokesman for a major UAE defense organization said on Monday.

  • LONDON, Feb 20- Britain agreed an 859 million pound contract with BAE Systems on Friday, giving the green light to the British defence company to continue with the next phase of design for a new fleet of warships. BAE Systems has been working on plans to provide Britain with 13 new Type 26 complex warships since 2010. The new contract paves the way for it continue to...

  • *2014 EPS of 38 pence in line with 37.7 pence forecast. LONDON, Feb 19- BAE Systems, the world's third-largest defence contractor by revenue, said it believed the worst was over for spending cuts in its key U.S. market as it forecast that earnings would return to growth in 2015.. Its profits have been hit in recent years by government spending cuts, particularly in the...

  • ABU DHABI, Feb 19- International firms will scramble for new orders at the Middle East's largest arms show which opens in Abu Dhabi next week as oil-rich Gulf states load up on weapons in a region rocked by instability and violence. For the first time, a dedicated exhibition of unmanned systems with 33 exhibitors is being launched at IDEX. IDEX exhibitors include...

  • SYDNEY, Feb 19- Australia will hold an open tender for a multi-billion dollar project to replace the army's current light armored vehicles with a next-generation ground combat system, Defense Minister Kevin Andrews said on Thursday. Britain's BAE Systems, which earlier this month won a contract to do heavy maintenance in Australia on Lockheed Martin Corp's...

  • Lockheed says technology investments cut cost of F-35 jets Wednesday, 18 Feb 2015 | 12:00 PM ET

    WASHINGTON, Feb 18- Lockheed Martin Corp said a series of manufacturing changes and technology investments were already driving down the cost of the F-35 fighter jet, and the savings were set to triple in the ninth batch of jets to be produced. Under the initiative, Lockheed and its key suppliers, Northrop Grumman Corp and Britain's BAE Systems agreed to invest...

  • BRUSSELS, Feb 12- French President Francois Hollande said Egypt would order 24 Rafale fighter jets, a naval frigate and related military equipment in a deal to be signed in Cairo on Monday worth more than 5 billion euros. The contract would make Egypt, aiming to upgrade its military hardware amid fears the crisis in neighbouring Libya could spill over, the first...

  • PARIS, Feb 12- France and Egypt have agreed a deal worth more than 5 billion euros for the sale of Dassault Aviation- built Rafale fighter jets, a naval frigate and missiles, a French source close to the matter said on Thursday. The deal would make Egypt, which has been looking to upgrade its military hardware over fears the crisis in neighbouring Libya could spill...

  • Feb 11- Canadian fuel cell maker Ballard Power Systems Inc's shares soared 63 percent after it said Volkswagen AG would pay more than $80 million to buy some patents and extend a service contract. Ballard said on Wednesday it would sell to the German carmaker the automotive-related portion of the fuel cell patents it had bought from United Technologies Corp...

  • *Cairo fears spillover from Libya conflict. PARIS, Feb 10- France is close to selling Dassault Aviation- built Rafale fighter jets to Egypt, sources close to the matter said on Tuesday, as Cairo looks to upgrade its military hardware over fears the crisis in neighbouring Libya could spill over. France and Egypt have been negotiating since a November state visit by...

  • WASHINGTON, Feb 9- Australia has picked Britain's BAE Systems to carry out heavy maintenance of Lockheed Martin Corp's F-35 fighter jet in Australia from 2018 and Tasman Aviation Enterprises to service its engines, sources familiar with the decision said on Monday. In December, the Pentagon announced that Australia would handle heavy maintenance for the...

  • WASHINGTON, Feb 9- Australia has picked Britain's BAE Systems to carry out heavy maintenance of Lockheed Martin Corp's F-35 fighter jet in Australia from 2018 and Tasman Aviation Enterprises to service its engines, sources familiar with the decision said on Monday. In December, the Pentagon announced that Australia would handle heavy maintenance for the...

  • WASHINGTON, Feb 5- The Pentagon's plans to fund 50 percent more F-35 fighter jets in fiscal 2016 will help drive down the price of the new plane and its engine, a top official at engine maker Pratt& Whitney, a unit of United Technologies Corp, said on Thursday. The Pentagon plans to spend nearly $400 billion to develop and build 2,457 of the radar-evading warplanes...

  • LONDON, Jan 20- Defense company BAE Systems said it had won a 112 million pound contract from the British Ministry of Defense to continue to provide services to ensure the readiness of the country's Eurofighter Typhoon jets. BAE Systems, Europe's largest defense company, said the contract extension of 15 months would help sustain 650 jobs at the country's Royal...

  • Jan 12- UBS Group AG, Switzerland's biggest bank, lost two more blue-chip corporate broking clients, the Financial Times reported, citing people familiar with the situation. British defense contractor BAE Systems Plc and Smith& Nephew Plc, Europe's largest maker of artificial joints, have both dropped UBS as their corporate broking adviser, the newspaper said.

  • India eyes Sikorsky helicopter, other big US arms buys Thursday, 25 Sep 2014 | 8:00 PM ET
    The Sea Hawk U.S. Navy helicopter.

    India is expected to choose Sikorsky Aircraft's S-70B Sea Hawk helicopters at a 16-aircraft tender worth over $1 billion.

  • Indian firms tool up for defense orders Wednesday, 20 Aug 2014 | 7:46 PM ET
    Indian army personnel perform Skirmish Order Fire Demo for the 68th Independence Day in Hyderabad, India.

    India's biggest companies are pouring billions into manufacturing guns, ships and tanks, buoyed by the government's commitment to upgrade its armed forces.

  • BAE reversal came after Homeland Security called Friday, 11 Jul 2014 | 11:59 AM ET
    Department of Homeland Security employees work inside the National Cybersecurity and Communications Integration Center in Arlington, Va.

    Federal security officials contacted BAE Systems in the wake of its claim that it had stopped a purported hack attack against a hedge fund.

  • BAE admits to misrepresenting cyberattack Wednesday, 2 Jul 2014 | 1:34 PM ET
    Cyber security

    An executive at BAE Systems misrepresented an alleged cyberhacking incident involving a hedge fund, the company said Wednesday.