Surveillance stock: BAE has assembled a Royal Navy submarine hunting warship in Glasgow
Boat spotters on the banks of the River Clyde this weekend will witness the vast sight of HMS Glasgow being grouped together.
The submarine hunting warship, the first of three ships in a contract worth £ 3.7 billion, was built in two halves by defense giant BAE Systems and is set to enter Royal Navy service in the mid-2020s.
“Britain was once the center of the world in shipbuilding,” program director David Shepherd tells me.
The submarine hunting warship was built in two halves by the defense giant BAE Systems
We are now beginning to reposition ourselves on the map with advanced warships at their zenith. This is the platform for the next century.
Shepherd points out that the “floating city,” which has a dentist and a hospital, can help the humanitarian effort as well.
With BAE President Charles Woodburn facing a potential revolt over his AGM payroll this week, BAE sure has plenty of choppy water to navigate.
One of Britain’s oldest chemical companies has been in the spotlight amid talk that it has attracted a new applicant considering a £ 1 billion takeover bid.
Stay tuned for the annual Anglo American meeting this week.
The city has focused on separating the mining company from its coal assets in South Africa, driving shares soaring.
But law firms Mbuyisa Moleele and Leigh Day are pressing shareholders to question the board of directors about its response to the clean-up efforts in Zambia.
Lawyers behind a class-action lawsuit allege that Angelo has failed to prevent lead contamination in the central Zambian town of Kabwe and want the company to test for lead in the blood of children and pregnant women.
Angelo argues that her involvement with the mine ended in the 1970s, and she says she never owned or operated the site.
Rising in India
Investors could be forgiven for pulling back from India with the Covid crisis there, but David Cornell remains optimistic.
He heads the Ocean Dial’s India Capital Growth Fund, and has seen the small-to-medium fund soar by 110 percent in the past year.
After revamping the team in 2019, it has made strong gains in banks as financial services develop and Indian manufacturers benefit from better infrastructure.
“It is a terrifying mutation for the Covid virus and the situation is catastrophic,” Cornell says. “But we believe that the markets are looking to this rise and potential growth in India over the next three to five years.”
He adds that Covid has fast-tracking digitization in a country already dominated by smartphone use.
Sorel vs WPP
The feud between Sir Martin Sorrell and his former WPP empire has reached its climax, with the ad company blocking some of his engagement options due to media leaks.
It was still a good week for stocks in the WPP, with Sorrell still among the largest single contributors. However, sources report that the stock has fallen 25 percent since its troubled exit in 2018.
Sorrell’s new venture, S4 Capital, reports on trading this week. Expect more fireworks.