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Tag: defence

Prepare for cash crunch if no Brexit deal – defence body

Prepare for cash crunch if no Brexit deal – defence body

Business
The Treasury should prepare emergency measures to ease a cashflow crisis that could hit companies in the event of a "no-deal" Brexit, the leading body representing Britain's aerospace and defence industry has told Philip Hammond. Sky News has seen a letter from ADS, the trade association which counts Airbus and Rolls-Royce among its members, in which its chief executive urges the chancellor to ensure that there is sufficient liquidity to prevent companies being punished for "dipping into their overdraft or for breaching loan covenants".The call from Paul Everitt for the Treasury to begin contingency planning with banks and other lenders in order to avert a cashflow squeeze reflects growing anxiety across manufacturing industries about the ramifications of no deal being agre...
Putin to reduce defence spending in fourth term

Putin to reduce defence spending in fourth term

World
Vladimir Putin has called for political unity as he starts his fourth term as president of Russia. After winning a landslide of 77% of the vote, Mr Putin called for his opponents to come together to focus on domestic issues and pledged to reduce the amount of money spent on the military.Mr Putin said Russia has spent enough over the last few years on new weapons to avoid excessive pressure on the economy in the future and so he could now reduce defence spending.Setting out his stall ahead of his fourth term in charge, he vowed not to engage in an arms race, saying: "There is no intention to speed up some kind of arms race, and just the opposite, we will develop constructive relations with all the countries of the world."We want and call for our partners to have a constructive dialogue, but...
Defence giant BAE to axe over 1,000 UK jobs

Defence giant BAE to axe over 1,000 UK jobs

Business
BAE Systems, Britain's biggest defence contractor, is to axe more than 1,000 jobs this week in a bitter blow for Britain's manufacturing industry.Sky News has learnt that BAE will announce that many of the job cuts will affect its Warton plant in Preston, Lancashire, with the company's new chief executive, Charles Woodburn, also "trimming" its workforce at other locations.Insiders said the number of jobs being axed would number "well over 1,000", although the precise figure was unclear on Monday.BAE employs 34,600 people in the UK, nearly half of its 83,000-strong global workforce.The move is certain to ignite a furious political row because of the timing of the cuts, with heightened sensitivity over workforce reductions at major exporters amid uncertainty over the terms of Brexit.Sources ...
N Korea risks 'destruction' – US defence chief

N Korea risks 'destruction' – US defence chief

World
North Korea should stop any actions that "would lead to the end of its regime and the destruction of its people", the US defence secretary has warned.James Mattis's comments come after a threat by Pyongyang that it was "carefully examining" a plan to strike the US Pacific territory of Guam, where the US runs a naval base and Coast Guard station.A spokesman for the Korean People's Army said the plan would be "put into practice in a multi-current and consecutive way any moment" once Kim Jong Un makes a decision.Image:North Korea threatened the tiny Pacific island of Guam, home to US basesThe threat was prompted by a statement from President Trump, in which he said that any threat to the US would be met with "fire and fury".Mr Mattis said in a statement that the US and its allies would win an...
Aviva Premiership 2017-18: Exeter to start defence with derby clash against Gloucester

Aviva Premiership 2017-18: Exeter to start defence with derby clash against Gloucester

Sports
Exeter will begin the defence of their Aviva Premiership title in a west country derby against Gloucester at Kingsholm on Friday, September 1.The fixture launches the 2017-18 season alongside Newcastle's home clash with Worcester, which is staged on the same evening.Runners-up Wasps, who lost 23-20 to Exeter in the final two months ago, launch their quest for the crown against Sale at the Ricoh Arena on September 2.The customary Twickenham double-header returns on the Saturday when European champions Saracens face Northampton before promoted London Irish tackle Harlequins.Two old rivals complete the opening weekend's fixtures when Leicester and Bath meet at Welford Road."It doesn't matter who won the Premiership last season, the league table right now says zero points and we have got to st...