A defence engineering consultancy working on Britain’s nuclear submarines and weaponry for the Royal Navy has been sold to a US group. Babcock International has sold Frazer-Nash Consultancy for £293 million to KBR, previosly known as Kellogg, Brown & Root. The sale is part of Babcock’s drive to shore up its balance sheet by selling off businesses. The deal means Frazer-Nash effecttively returning from where it came. The business was acquired from KBR in 2007 as part of Babcock’s takeover of the Devonport naval dockyard in Plymouth. The government had fretted that a key piece of Britain’s naval estate was being operated by an American company.
Times 14th Aug 2021 read more »
This is Money 14th Aug 2021 read more »
THE SNP have said finding the money to make the Universal Credit uplift permanent should be a priority for the UK Government given it can find billions of pounds for nuclear weapons, wasted Covid contracts and vanity projects. The Institute for Fiscal Studies estimates that making the £20 uplift to Universal Credit permanent would cost £6 billion a year.
The National 14th Aug 2021 read more »