BAE Systems, Europe's biggest defence contractor, has scored a contract with South Korea, which is reportedly worth more than one billion dollars, the majority of which will go in BAE's back pocket.
Under the contract the group will upgrade over 130 F-16 fighter aircraft, with the work taking place in the US over the next 10 years.
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
-
House prices rising fastest in areas with highest crime rates – where does your area rank?Property prices are higher in safer areas but growing more slowly than in places benefiting from gentrification and buy-to-lets
-
State pension age review launched – could it rise faster in future?The government has announced a review of the state pension age, after it warned of a “retirement crisis” and revived the Pensions Commission to boost pension savings
