Peter Luff News
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European Aeronautic, Defence & Space Co. and BAE Systems Plc declined on concern their proposed merger would struggle to deliver cost savings and penetrate the key U.S. defense market.
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The U.K. government must find further savings in its military programs beyond cuts announced in a review last October, Defense Minister Peter Luff said.
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The U.K. Defense Ministry is to hold cost-saving discussions with 11 of its top suppliers, including BAE Systems Plc , Rolls-Royce Plc and QinetiQ Group Plc, as the government seeks to narrow the record budget deficit .
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The U.K. government plans to renegotiate 42-year-old rules governing contracts with defense suppliers including BAE Systems Plc and Rolls-Royce Group Plc to save millions of pounds to help cut a record budget deficit.
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European stocks declined for a fourth day as Japanese machinery orders tumbled the most in a decade and Spanish bonds dropped before euro-area finance ministers meet in Brussels.
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Britain and France have extended cooperation on drone technology to an unmanned replacement for fighter aircraft, Peter Luff, the U.K. defense-procurement minister, said today at a military exposition in London.
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The U.K. is continuing to plan for the delivery of Lockheed Martin Corp.’s F-35 Joint Strike Fighter in 2020, defense procurement minister Peter Luff said.
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Britain is to investigate the pricing rules for single-supplier defense contracts, where only one company is invited to tender, defense-procurement minister Peter Luff said in a statement today.
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The U.K.’s decision to extend the life of its Nimrod spy plane to support military operations in Libya will cost an extra 4 million pounds ($6.6 million) for three months’ work, Defense Procurement Minister Peter Luff said.
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The U.K. has already awarded contracts worth 1.25 billion pounds ($1.92 billion) for the building of two aircraft carriers threatened by spending cuts, Defense Minister Peter Luff said.
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