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UK defence
British army extends life of ageing battlefield radios as replacement delayed
...He likened it to the situation with Ajax, the Army’s long-delayed £5.5bn armoured vehicle programme, for which General Dynamics is also the main contractor....
February 5, 2024
KPMG UK
KPMG extends pay freeze to 12,000 UK staff
...KPMG has frozen pay for around 12,000 employees in the UK, as the gloomy economic climate hits demand for its services across the firm....
November 24, 2023
FT Live
Inside Politics: who will win the UK general election?
Exclusively for FT subscribers
Wednesday, 8 MayDigital Conference
News in-depthEnterprise software
The unstoppable rise of Fortnox: Swedish software group attracts short sellers
...From 2mn users of its services in 2020, Fortnox aims to hit 4mn by 2025, roughly two-thirds of Sweden’s working population....
March 27, 2024
InterviewMitsubishi Heavy Industries Ltd
MHI plans global defence sales push after Japan expands military budget
...to major US and European defence contractors....
October 31, 2023
UK tax
IR35: contractors complain of being misclassified
...Financial services, particularly large banks — which had been big users of temporary workers — were among the firms taking a more “risk averse” approach, he added....
January 19, 2024
Chinese politics & policy
Leak shows China uses private company to hack citizens and foreign states
...at Shanghai Anxun or even another Chinese cyber security contractor....
February 22, 2024
FT Live
Innovation in Wealth Management Summit
Augmented intelligence for client-centric services
Thursday, 2 May9 Montague Close, London, UK
News updates from March 28: Sam Bankman-Fried sentenced to 25 years; US GDP growth in Q4 revised higher
Home Depot bets on professional builders with $18.25bn deal for SRS
...Home Depot has struck one of its biggest-ever deals to acquire speciality building products supplier SRS Distribution in a move that could boost its faster-growing professional services business....
March 28, 2024
Corporate bonds
Reading small print for fun and profit
...It’s a funny phrase because it makes perfect sense in the pharmaceutical context — they’re contractors who manufacture drugs and help with some of the development process — but also sounds a bit like they...
March 7, 2024
Endeavour Mining Corp
Endeavour Mining says probe found ‘disguised’ payments of $15mn
...The payments, made in August and November 2020, were disguised as being to a contractor, Endeavour said, leaving the FTSE 100 company or the contractor with a potential loss....
March 27, 2024
Leyla Boulton
Why is making UK homes more efficient so difficult?
...These are professionals with a formal qualification who can devise a plan to retrofit a home and identify contractors to do the work....
April 11, 2024
KPMG UK
KPMG fined £1.5mn over audit of M&C Saatchi
...Last October, it was hit with a record £21mn penalty for failures in its auditing of collapsed government contractor Carillion....
March 4, 2024
News updates from February 23: Nvidia market value briefly tops $2tn, Navalny’s mother refuses Russian ultimatum
UK’s Serco ordered to stop using facial recognition to monitor staff
...UK public service contractor Serco has been slammed by the country’s data watchdog for using facial recognition and fingerprint scanning to monitor and pay its staff, and ordered to stop the practice....
February 23, 2024
UK tax
MPs rebuke HMRC for ‘unacceptable’ customer service
...services....
February 28, 2024
LexBabcock International Group PLC
Babcock: defence contractor emerges from the depths Premium content
...The contractor embarked on its own turnround in late 2020. It began making progress about a year ago, as Lex noted....
September 28, 2023
News in-depthMcKinsey
McKinsey’s revenue from prime US government contracts falls to 9-year low
...“As contractors to government agencies for more than 70 years, we are pleased to continue service through the General Services Administration’s schedule [which] will enable us to help address federal agencies...
January 14, 2024
FT Live
Transforming the Finance Function with AI
Strategies for delivering advanced analytics, automation and decision-making
Thursday, 25 AprilDigital Conference
Aerospace & Defence
European defence groups warn over reliance on Chinese cotton used in gunpowder
...Its purchases from China jumped from $3.4mn in 2022 to $7.18mn in the first 10 months of 2023, according to import data examined by the UK’s Royal United Services Institute....
April 8, 2024
UK defence industry
UK government ends battlefield radio contract with General Dynamics
...It was due to enter service in the middle of this decade, replacing the current in-service Bowman system but the procurement has been beset by delays, with critics branding it the “next procurement disaster...
December 14, 2023
ExplainerCorporate governance
What’s left of the UK’s once ambitious corporate governance reforms?
...The notorious collapse of Carillion in 2018 led then-business secretary Greg Clark to declare that the lessons learned from the government contractor’s failure should be applied “without delay”....
November 9, 2023
KPMG UK
KPMG fined a record £21mn over ‘textbook’ failures in Carillion collapse
...KPMG has been fined a record £21mn by UK regulators for “textbook” failures in its auditing of Carillion, the government contractor whose collapse in 2018 sparked political controversy and calls for an overhaul...
October 12, 2023
FT Magazine
How did customer service get so bad?
...One common problem is that firms don’t actually know what we’re so angry about: many of them are not directly exposed to our complaints, which are instead fed back via a third-party contractor who may not...
April 18, 2024
BAE Systems PLC
BAE to restart M777 howitzer production as Ukraine war ignites demand
...Britain’s biggest defence contractor has signed an initial agreement worth $50mn with the US Army to kick-start a new programme while it finalises the details of a broader contract....
January 4, 2024
Serco Group PLC
Serco lifts profit guidance as demand for immigration services rises
...The London-listed contractor, which manages services for governments worldwide, increased its forecast for organic revenue growth and underlying trading profit by about 4 per cent on Thursday....
June 29, 2023
Serco Group PLC
Serco increases bet on German immigration market
...The deal is the London-listed contractor’s second in continental Europe in just over 12 months, after it bought Swiss immigration services company ORS in September 2022, which also operates in Germany....
December 14, 2023
Babcock International Group PLC
Babcock pays first dividend in 4 years ‘with confidence’
...Babcock International is paying its first dividend in four years as the defence contractor reaps the benefits of a turnaround plan and higher military spending amid rising geopolitical tensions....
November 14, 2023
UK politics
Starmer makes ‘total’ commitment to UK nuclear deterrent
...On his visit to the Barrow yard, owned by defence contractor BAE Systems, Starmer announced a new “triple lock” commitment to the nuclear deterrent....
April 12, 2024

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