15 h. ago It’s also a ‘new era’ for share prices in the defence sector

Nato’s spending splurge has made Babcock hot – a sign fundamental change in dull income defence stocks is happening It’s a miracle. Babcock International, the defence contractor with a specialism in kitting out the UK’s nuclear submarines, has emerged from the depths. After about half a decade in which the story was mostly about cost overruns, acquisition indigestion, accounting woes, pension deficits and too much debt, Babcock is suddenly back in the FTSE 100 index and is a hot stock. The share price has more than doubled this year.Of course it’s not really a miracle because the performance is easily explained. A fix-the-basics strategy was started in 2020 under ex-Cobham boss David Lockwood and has worked. The last of the badly performing major contracts – to build first-of-a-kind Type 31 frigates for the Royal Navy – is no longer spitting out provisions. Continue reading...

Politics

16 h. ago Czech arms maker slashes interest costs as investors pile into defence sector

CSG, which supplies ammunition to Ukraine, capitalises on rush of enthusiasm for industry with €1.8bn bond deal

Economics

48 h. ago Ready for takeoff: PING Group partners with ubloquity to accelerate digital transformation in aerospace and defence

Partnership will create five specialist tech roles and enhance transparency, traceability, and resilience across Northern Ireland and Scotland’s aerospace and defence supply chains - a sector generating a combined £9.5 billion in annual turnover.

Politics

6 d. ago Refusing to employ Chinese and Russians in sensitive national security jobs is not discrimination because they might be spies, tribunal rules

It is not discriminatory to stop people from nations that pose a threat to Britain taking up certain jobs in the defence sector due to the possibility of espionage, the judgement suggests.

Events

7 d. ago UK firm not racist for rejecting Chinese applicant over security concerns, tribunal rules

Judge says refusing to hire people from ‘hostile’ states to roles that deal with national security is not discrimination Refusing to give a job to Chinese and Russian people in companies that deal with issues of national security and require security clearance is not racist, an employment tribunal has ruled.It is not discriminatory to stop people from “hostile” states taking up certain jobs in the defence sector because of the risk to British security, the judgment says. Continue reading...

Events

3 w. ago Independent report confirms ‘defence dividend’ for local communities that host defence industry

Research launched today by the Royal United Services Institute (RUSI) reveals that the defence sector, which accounts for one in every 60 UK jobs, has an outsize positive effect in the areas of the country where it is located.

Politics

4 w. ago Zelenskyy says Ukraine has reached defence sector accords with Germany as he meets Merz – Ukraine

Ukrainian president says countries have reached new agreements on defence investments as he meets German chancellor in BerlinZelenskyy bound for Berlin with Merz boxed inTurkey’s foreign minister will travel to Kyiv on Thursday for a two-day visit after discussing peace efforts to end Russia’s war in Ukraine in Moscow earlier this week, a Turkish foreign ministry source told Reuters on Wednesday.Foreign minister Hakan Fidan held talks in Moscow on Monday and Tuesday, meeting Russian president Vladimir Putin and other Russian officials, including Moscow’s top negotiator at talks in Istanbul earlier this month aimed at ending the three-year war. Continue reading...

Politics