Textron: Cessna turbulence
First gold collapsed. Then premium cupcakes. Now corporate jets. Coke dealers and Dubai real estate brokers: you are officially on notice. On Wednesday, Textron, maker of Cessna aircraft, reduced its…
Dassault family could share executive job
©AFP Triumphant: the French Dassault Rafale was picked by India over the Eurofighter Typhoon because it was fully equipped and ready to go The four children of Serge Dassault, 88-year-old…
Daimler to sell 7.5% stake in EADS
Daimler is set to sell its remaining 7.5 per cent stake in EADS, cutting the car and truckmaker’s equity ties with Europe’s largest aerospace company, which it helped found. Daimler…
EADS in talks to buy back French shares
France is in talks to sell nearly €500m of its stake in EADS back to the aerospace group as the country’s cash-strapped socialist government increasingly looks to shed non-strategic parts…
US regulator orders Boeing 737 inspections
©Getty US airlines have been ordered to inspect more than 1,000 of Boeing’s 737 narrow-body workhorses for potentially faulty parts that could result in pilots losing control of the aircraft.…
Austerity hits global military spending
©Bloomberg World military spending last year fell for the first time in 14 years, with the US share of the global total slipping below 40 per cent. The world spent…
General Dynamics to cut UK workforce
General Dynamics UK is to cut more than 10 per cent of its workforce and restructure its business in the latest sign of Britain’s shrinking defence industry. Britain’s third-largest defence…
Industrialists split over Thatcher legacy
©Getty GKN, one of the UK’s oldest industrial businesses, could have been just another casualty of the 1980s – the decade when Margaret Thatcher, in her critics’ eyes, accelerated the…
Energy: More buck, less bang
©AP Custom-built: Kashagan became the world’s most expensive oil development project after Eni and its partners built an artificial island to protect its drilling rig from pack ice in the…
Carbon-fibre suppliers ready to exit the pits
©Getty Carbon-fibre composites were once the preserve of racing cars and supercars Looking out from the steel and glass “clean rooms” of a 5,000 sq m facility near Bristol, a…
UK army faces tricky Afghan withdrawal
On Wednesday one of the RAF’s three Airbus Voyager transport aircraft touched down at Brize Norton air base in Oxfordshire, bringing home the last contingent of Royal Marines to serve…
Oshkosh cuts jobs as military reins back
One of the biggest suppliers of US military vehicles has said it will cut around 900 jobs, as the winding down of the Afghanistan war and spending cuts hit budgets.…
Turkish Airlines to buy 70 Boeing jets
Turkish Airlines has followed its March order for 82 Airbus jets with a deal to buy 70 single-aisle aircraft from Boeing, the bulk of which will be the US manufacturer’s…
Lagardère sells EADS stake for €2.3bn
Lagardère has sold its 7.4 per cent stake in EADS for €2.3bn, cutting the last historic ties between the French media group and Europe’s biggest aerospace manufacturer by sales. EADS…
Alcoa buoyed by aerospace and car demand
©Bloomberg Alcoa’s first-quarter net income rose 59 per cent to $149m as the aluminium group outperformed market expectations thanks to strong demand from users for its aerospace and automotive products.…