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.
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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.
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Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
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Family left with £20k IHT bill because of out-of-date tax adviceFrozen tax thresholds and dated guidance helped drag the estate into an inheritance tax liability despite extensive use of gifting to avoid a bill
