U.K. investigates BAE, two firms in Saudi work

Article Abstract:

The U.K. Serious Fraud Office has opened an investigation into possible fraudulent accounting practices at defense and aerospace company BAE Systems PLC. The investigation is focusing on defense contracts that BAE has with Saudi Arabia. BAE has been accused in the press of operating a "slush fund" that it has allegedly used to pay off Saudi officials.

Legal issues & crime, Foreign operations, Financial management, Contracts & orders received, Saudi Arabia, Contracts & orders let, Guided Missiles, Space Vehicles, Parts, Company legal issue, Investigations, Contracts, Contract agreement, Corporations, Company financing, Corporate corruption, United Kingdom. Serious Fraud Office, Defense contracts, Government contract, Defence contracts

---

BAE promises woes are over, posts 2002 loss

Article Abstract:

BAE Systems PLC posted a major financial loss of 686 million pounds (1.02 billion euros) for 2002. The company, hurt by project cost overruns, still promised that its problems were at an end.

---

Cash-flow gains help BAE Systems reduce net loss

Article Abstract:

BAE Systems PLC posted a lower net loss of 47 million pounds (66.7 million euros) for the 2003 first half. The company was helped by gains in its cash flow.

Defence industry

Similar abstracts:

• Abstracts: Fields to factories: changing employment pattern helps unions. Back to work: organised labour seeks to restore its influence
• Abstracts: Poor relations: the two Europes. One wall replaces another. Better than aid
• Abstracts: Dexia, Sanpaolo might merge in cross-border banking deal. Italian insurer sees steady climb in net, dividends
• Abstracts: Man Group profit rises 54%. Collins Stewart posts flat profit. St. James's to post loss for 2002
• Abstracts: Thyssenkrupp raises bid for Dofasco. Black to unload controlling stake in Hollinger. Great-West to buy Canada Life

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.