Defence minister greenlights military sealift deal to secure 150 UK jobs Business London-based Foreland Shipping will run a seven-year contract with the Ministry of Defence, under a new deal announced on Friday.
Chemring shares plunge despite record orders Business Chemring shares plunged on Tuesday as production and foreign exchange headwinds dented investor confidence despite booming orders. The FTSE 250 British defence contractor’s order book reached a record £1.04bn in 2024, meaning more than two-thirds of next year’s revenue forecast is already covered. Such soaring demand saw Chemring double down on a target of reaching [...]
Cohort’s order book hits record amid booming defence spending Industrials AIM-listed defence group Cohort has reported strong half-year results, attributing its performance to conflicts in Europe and the Middle East and “heightened international tensions” in the Asia-Pacific region. The group, which owns six defence companies including Chess, EID, and SEA, recorded a 25 per cent year-on-year increase in revenue for the six months to 31 [...]
Starmer vows to put Ukraine ‘in strongest possible position for negotiations’ with Russia December 2, 2024 The Prime Minister will say that Ukraine must be put in the “strongest possible position for negotiations” with Russia, addressing the possibility of a negotiated settlement for the first time. Speaking at the Lord Mayor’s Banquet, Sir Keir Starmer will tell attendees at the white tie Guildhall dinner that the eastern European nation must be [...]
UK needs to innovate at wartime pace, defence secretary says December 2, 2024 The UK needs “innovation at a wartime pace”, the defence secretary has said as he announced a new strategy for the industry. As he launched a defence industrial strategy, which is being developed alongside the government’s strategic defence review, John Healey said war game exercises to test the military’s capabilities will be carried out with [...]
UK ‘not at war’ Starmer insists as he rebukes Putin’s ‘irresponsible rhetoric’ November 22, 2024 Sir Keir Starmer has insisted the UK is “not at war” and criticised Russian leader Vladimir Putin for his “irresponsible rhetoric”. The Prime Minister asked during a round of regional radio interviews about concerns over escalation in the conflict in Ukraine. On Thursday, Russia used a new ballistic missile in Ukraine, which Putin said was [...]
Defence giant Thales faces UK bribery and corruption probe November 21, 2024 The Serious Fraud Office has launched an investigation into French defence giant Thales for suspected bribery and corruption. Authorities in the UK and France said they are carrying out a joint probe into the firm, which employs more than 7,000 staff in the UK. Thales is one of the government’s key defence contractors, and built hundreds of lightweight [...]
Elon Musk and Fox News host chosen for Trump cabinet and advisory roles November 13, 2024 Tech billionaire Elon Musk and Fox News host Pete Hegseth have been asked to serve as advisors and in Donald Trump’s cabinet. Musk is set to lead a new US Department of Government Efficiency (DOGE) which will advise the President on how to reform and make savings in the government, after he previously claimed he [...]
US election: Badenoch calls on Starmer to reopen US-UK trade talks November 6, 2024 Conservative leader Kemi Badenoch has urged Keir Starmer to reopen trade talks with the US, after Donald Trump swept to victory over Democrat rival Kamala Harris.
Nato supplier Chemring reveals £278m boost as geopolitical tensions fuel boom November 4, 2024 Shares in Chemring are up over 26 per cent in the last 12 months and rose nearly two per cent in early trading on Monday.