BAE Systems trying to save UK shipyards, says FT
The Financial Times is reporting that the defence giant, BAE Systems, may be trying to develop foreign contracts in order to keep British shipyards in work.
The Financial Times is reporting that the defence giant, BAE Systems, may be trying to develop foreign contracts in order to keep British shipyards in work.
The paper claims BAE is trying to convince Turkey and Brazil to let it build highly advanced ships for their navies at its yards in Glasgow and Portsmouth.
The idea would be for foreign engineers to see how the ships are constructed and then take that expertise back to their own countries for future projects.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Defence spending in the UK is being cut by 8% over the next four years as the government tries desperately to reduce the UK's budget deficit.
Those cuts are forcing BAE to expand into new markets.
Over the last 12 months shares in the company have dropped 12% although today the stock had gained 0.5% by 09:56.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Santander launches new freebie for certain savings customers - are you eligible?
Santander is offering a free four-year railcard to some customers from today. We explain who will qualify for the incentive
By Jessica Sheldon
-
Lloyds axes foreign currency fees for Club Lloyds customers
Club Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
By Daniel Hilton