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British-built Hawk training jets to be maintained by BAE

British-built Hawk training jets to be maintained by BAE

Business
Nov. 15 (UPI) -- London-based BAE Systems Ltd. announced an agreement on Wednesday to maintain and support Hawk training planes in the United Arab Emirates.BAE will contract with the UAE-based Advanced Military Maintenance Repair and Overhaul Center, or AMMROC, to provide repairs and upgrades to Hawk Mk61, Mk102 and Mk63 aircraft at a facility in Abu Dhabi until 2020.The facility is on the grounds of Al Ain International Airport in Abu Dhabi.The single-engine, jet-powered advanced technology aircraft is typically used for training, although it also can serve as a light combat aircraft.About 1,000 British-built Hawk planes are in service with 18 governments around the world for training pilots to fly larger and more advanced fighter planes. The Hawk planes feature a variety of simulators fo...
UK workforce sees biggest fall in two years

UK workforce sees biggest fall in two years

Business
The number of people in work in the UK has seen its biggest fall in the past two years, but unemployment also fell.UK employment dipped to 32m in the three months to September, down 14,000 from the previous quarter, Office for National Statistics (ONS) data shows.At the same time, the number of jobless - those people not in work but seeking a job - fell 59,000 in the same period.Workers' earnings, including bonuses, rose 2.2% compared with a year ago, which still lags inflation of 3%.The unemployment rate remained steady at 4.3%, and down from 4.8% a year earlier.Matt Hughes, a senior ONS statistician, said employment had declined after two years of "almost uninterrupted growth".He added: "But there was a rise in the number of people who were neither working nor looking for a job - so-call...
Labour turns up heat over Saudi Aramco float

Labour turns up heat over Saudi Aramco float

Business
Labour is seeking to increase the pressure on ministers over a $ 2bn loan guarantee to Saudi Arabia's state oil company as it weighs a London flotation that would become the biggest stock market listing in history.Sky News has seen a letter to Philip Hammond, the Chancellor, in which his Labour shadow John McDonnell‎ demands to know details of discussions between the Government and its Saudi counterparts about the prospective flotation of Saudi Aramco.The letter, sent on Tuesday, will turn up the heat on the Government amid continuing questions over the legitimacy of efforts to persuade the S‎audis to list the company in the UK.Saudi Aramco has been estimated to be worth between $ 800bn and $ 2trn, but even at the lower end of that scale would become one of the most richly valued public co
Inflation steady at 3% despite food cost rise

Inflation steady at 3% despite food cost rise

Business
The rate of inflation remained static at 3% in October - defying expectations of a rise among economists and policymakers at the Bank of England.The Office for National Statistics (ONS) said rising food prices were largely offset by falling fuel costs last month.Forecasters had predicted an increase to at least 3.1% - a scenario that would have forced the Bank's governor to write to the Chancellor to explain why the Consumer Prices Index measure had exceeded 3%.Its inflation target is 2%. The Bank raised interest rates earlier this month to help tackle inflation in its belief the figure was to hit 3.2% in October.The ONS figures are likely to reinforce doubts among some economists on the wisdom of that rate hike, which has forced up many families' borrowing costs at a time when their spen...
Firms deliver Brexit warning to May at talks

Firms deliver Brexit warning to May at talks

Business
Business groups from across the EU have warned Theresa May on the threat to investment and jobs without "urgent progress" in Brexit talks within the next two weeks. The delegation visited Downing Street to voice fears that current uncertainty over the UK's future trading relationship with the EU was damaging to firms across the continent.Business groups from countries including Germany, France and Ireland joined UK counterparts in urging both sides in the break-up to heed their united stance on the need for trade talks to be given the green light by EU leaders at their December summit in two weeks' time.As we leave the EU, we must do all we can to ensure that UK and EU businesses continue to thrive side-by-side. That’s why it was so important to speak to European business leaders in Downin