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The deal, reportedly worth £10bn, will be a major boost for Britain's biggest defence manufacturer BAE Systems, which is part of the European consortium which makes the Eurofighter, also known as the Typhoon.The Ministry of Defence released a statement yesterday confirming that the "commercial principles" of the deal have been agreed.The statement said: "The Governments of the Kingdom of Saudi Ara ...

Ros Snowdon Deputy City EditorHOME credit lenders Provident Financial and Cattles breathed a sigh of relief yesterday after a benign ruling from the Competition Commission which is in the process of a two-year investigation into the £2bn-a-year home credit market.The Commission's Proposed Remedies said there was a lack of effective competition, but its solutions were not as draconian as some had f ...

DETROIT (AFX) - Ford Motor Co. said Friday it would temporarily halt production at 10 assembly plants between now and the end of the year, blaming high gas prices for pushing many consumers away from its pickups and SUVs and toward higher-mileage models. Ford said the cuts will reduce the need for costly incentives to reduce bloated inventories. But they also illustrate just how out of step t ...

By Paul Thomasch NEW YORK (Reuters) - Dell (DELL.O: Quote, Profile, Research) is in the middle of a brewing image crisis, launching its biggest-ever product recall, reporting a sharp drop in profit, and disclosing an accounting investigation all in one week. The world's largest personal computer maker must act quickly to control the damage with investors and customers alike, or risk back-to-school sales and the upcoming holiday spending peak season, say analysts and brand experts. ...

By Philipp Gollner SAN FRANCISCO (Reuters) - Dell's (DELL.O: Quote, Profile, Research) disappointing quarterly earnings report is the latest event to highlight the differences between it and competitor Hewlett-Packard (HPQ.N: Quote, Profile, Research) , whose results beat Wall Street expectations, analysts said. Dell, the world's biggest personal computer maker, rattled investors and cu ...

OAK BROOK, Ill. (AFX) - Inland Real Estate Corp. on Friday declared a monthly cash dividend of 8 cents per share. The dividend is payable on Sept. 18, to common stockholders of record on Aug. 31. Inland Real Estate has about 67.7 million shares of common stock outstanding. The company currently pays an annual cash dividend of 96 cents per share distributed equally on a monthly basis. Shares of  ...

SHREWSBURY, N.J. (AFX) - Polyester product maker Wellman Inc. said Friday it will cut its quarterly dividend by 60 percent to 2 cents per share, and weigh strategic options for its non-core businesses. The company will pay the quarterly dividend on Sept. 15 to shareholders of record on Sept. 1; it previously paid a 5-cent dividend in June. Wellman said the new dividend amount is appropriate, giv ...

DETROIT (AFX) - Ford Motor Co. said Friday it would temporarily halt production at 10 assembly plants between now and the end of the year, blaming high gas prices for pushing many consumers away from its pickups and SUVs and toward higher-mileage models. Ford said the cuts will reduce the need for costly incentives to reduce bloated inventories. But they also illustrate just how out of step the l ...

NEWARK, Del. (AFX) - British specialty chemicals company Innospec Inc., on Friday said it will pay a semiannual dividend of 8 cents per share and authorized a $2 million stock buyback plan. The dividend will be distributed Oct. 1 to shareholders of record on Sept. 1. Under the stock repurchase plan, the company may buy up to $2 million of its shares. The plan will begin Aug. 28, and run through  ...

NEW YORK (AFX) - AP Video Richard Grasso's entire life has been defined by a never-say-die attitude: He never knew his dad, he dropped out of college, he flunked the eye-test to become a New York cop, but he still worked his way to the top of the world's largest stock exchange. His street savvy and salesman skills were visible as he helped lead the financial community through the Sept. 11 attack ...