BAE lands Saudi plane deal
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Business & money: The British defence giant has secured an order for 72 Eurofighter Typhoons in a contract worth Â£20bn over the next 20 years.
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Prime Minister Tony Blair defended a controversial decision by the government to halt an investigation into a multibillion dollar arms deal between BAE Systems PLC and "key ally" Saudi Arabia on Friday.
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LONDON -- A Saudi prince received millions of dollars for his own use as part of Britain's largest arms deal, the British Broadcasting Corp. said.
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Saudi Arabia's state news agency says the kingdom is to buy 72 Eurofighter Typhoon jets from the UK for Â£4.43bn.
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A Saudi prince received secret payments from the UK's biggest arms dealer, a BBC investigation reveals.
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Defence firm BAE Systems will next week clinch a 20-billion-pound deal to supply 72 Eurofighter Typhoon jets to Saudi Arabia, a report said Friday.
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LONDON  - British defence contractor BAE Systems PLC said Monday it is buying DigitalNet Holdings Inc., a U.S. maker of secure computer networks and a leading information-technology supplier to the Pentagon.
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A Saudi investor has taken a three-percent stake in low-cost carrier Air Berlin, the German airline said Tuesday, amid persistent takeover rumours.
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Raytheon Co. , BAE Systems PLC , and their rivals said they expect six Persian Gulf states, including Saudi Arabia, to buy more military equipment, such as missiles and drones, in 2007 amid rising concern over Iran.
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BAE Systems, the largest military contractor in Europe, said profit tripled last year as a result of expanded operations in the United States and the sale of its stake in the commercial airplane maker Airbus. BAE added that it expects continued strong growth this year, supported by increased military spending by the United States. BAE said profit last year rose to Â£1.64 billion ($3.2 billion) from Â£553 million in 2005. Revenue from continuing operations rose 9 percent, to Â£13.77 billion ($26.9 billion). The chief executive, Michael J. Turner, above, said BAE planned to use income from the sale of its stake in the European Aeronautic Defense and Space Company, the parent of Airbus, to make acquisitions.
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Saudi Arabia announced on Monday it has signed a 4.43 billion pound (8.86 billion dollar) deal to buy 72 Eurofighter planes, after tortuous negotiations on one of the largest ever British export orders.
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The U.S. Department of Justice has launched an investigation of Britain's BAE Systems Plc  over the defense firm's compliance with anti-corruption laws, including its dealings with Saudi Arabia.
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BAE Systems has announced that shareholders have backed the proposed sale of its 20-percent holding in troubled European aircraft maker Airbus to Paris-based peer EADS.
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BAE Systems acquires a US firm which provides computer and IT systems to the US defence department.
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BAE Systems jolted investors yesterday when it predicted &quot;a modest performance improvement&quot; next year because of slimmer margins at its customer solution and support (CS&amp;S) business, which includes its long-running Al Yamamah contract with Saudi Arabia.
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BAE Systems is set to take on 1,000 new workers, in part to help it cope with a Â£6bn deal to supply jets to Saudi Arabia.
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Saudi Arabia reportedly may pull out of a contract to buy 72 new Eurofighter aircraft from British firm BAE Systems because of a row over an investigation into an alleged slush fund.