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Cohort issues surprise profits warning
The defence services group discovered it had significantly overstated the value of certain contracts, which could amount to £1.9m of revenues, while preparing for interim results
Delhi blocks EADS proposed joint venture
India has rejected a planned tie-up between the Franco-German group and Larsen & Toubro on the grounds that it would exceed the 26% defence sector cap on foreign direct investment
Pentagon races to save air tanker contest
The Pentagon was scrambling to save a multibillion dollar contest to replace the US Air Force’s ageing fleet of air refuelling tankers after Northrop Grumman and EADS in effect withdrew their joint bid
Bid nears for AIG aviation business
A consortium of private-equity investors and the head of International Lease Finance Corp are close to making a bid for about half of the aviation-leasing business of American International Group, ILFC’s troubled parent
EADS insider trading defendants await verdict
The sanctions committee of the French stock market regulator, the Financial Markets Authority (AMF), wraps up the final hearings in one of the biggest insider dealing cases it has been called to rule on, with potential fines running close to €12m
BAE to cut 642 jobs
Defence contractor to cut nearly a fifth of jobs at Insyte business in response to falling demand, with sites in Cowes and Portsmouth likely to be worst affected
Qinetiq warns profits will fall short
Defence research group blames delays by the UK and US governments for a profits warning as it reports a severe drop in pre-tax profits
Turner to testify at EADS inquiry
Mike Turner has turned up as a key witness in France’s largest insider dealing case as the country’s Financial Markets Authority launched the final phase of its investigation
Inmarsat buys Segovia of US for $110m
The satellite-based phone network operator agrees to acquire Segovia – the mixed satellite and terrestrial networks group – in order to provide more services to the US government
Chemring raises $280m to help fund deals
The military decoy and pyrotechnic device group has placed $280m of loan notes with institutional investors, giving it renewed firepower for further acquisitions
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