BAE reports increases profit
BAE Systems has reported a 13% increase in earnings to £1.9 billion for 2016 as global defence spending rose.
The company's revenues rose 6% to £19 billion in the 12-month period, although the company said the majority of that was due to foreign exchange translation.
BAE Systems announced that its chief executive Ian King will retire from the group in the summer and will be replaced by current chief operating officer Charles Woodburn.
Government invests in advanced materials
The government is to invest £229 million in the development of cutting-edge advanced materials and a new centre of excellence for the life and physical sciences as part of its industrial strategy.
Included in the investment is £126 million in grants for the Sir Henry Royce Institute for Advanced Materials, supporting the creation of a world-leading research centre at the University of Manchester, with satellite centres at the Universities of Sheffield, Leeds, Liverpool, Cambridge, Oxford and Imperial College.
It also announced £103 million investment in a new national centre of excellence for life and physical sciences, at the Rosalind Franklin Institute, located at Harwell Science and Innovation Campus, Oxford.
Bill sets out self-driving car insurance and EV charge point proposals
The government has outlined its plans for laws to help the introduction of autonomous and electric vehicles.
The Vehicle Technology and Aviation Bill says insurance for autonomous vehicles in the UK will need to cover when the driver is in manual control and when the car is driving itself. It also suggests new rules requiring petrol stations and businesses to install more charging points for electric and hydrogen-powered cars.
Atlantis completes first stage of MeyGen project
Atlantis Resources installed the final turbine in the first phase of its MeyGen tidal energy project in Scotland.
The company said that the deployment of the turbine, which was designed by ARL and Lockheed Martin, took less than 60 minutes.
HS2 moves closer
The HS2 Bill has secured Royal Assent paving way for construction to begin on schedule in the spring.
Schemes totalling £70 million for communities along the route between Birmingham and London were launched this week.
MBDA wins £146m missile upgrade deal
Defence company MBDA has landed a £146 million contract to upgrade long-range missiles for the UK and France, securing 60 jobs in Bolton and Stevenage.
The shared deal with MDBA will see the UK’s Storm Shadow and France’s SCALP missiles updated so they remain fit for purpose and ready for operational use.
Siemens and Salford University create control & automation degree
Siemens and the University of Salford have developed a Bachelor of Engineering degree in control and automation to address the engineering skills shortage affecting UK industry.
The Honours degree will be available at the University of Salford from September 2017 and combines a number of academic modules, together with Siemens’ Approved ‘PLC Programmer Certification’. It is available to both apprentices and anyone with an existing appropriate level 5 engineering qualification and experience
EE to boost coverage with aerostat drones
EE set to deploy ‘helikite’ drones to fill in wireless coverage gaps when its 4G network goes down or needs more capacity.
EE will trial the aerostat drones, which are attached to helium balloons and are dubbed ‘air masts’ by the operator, over areas that need a temporary network boost.
Dong Energy reorganises Lincolnshire offshore windfarm JV
Dong Energy has reorganised its Lincolnshire offshore windfarm joint venture after partners Centrica and Siemens Project Ventures decided to divest their respective 50% and 25% shares in the 270MW windpower project in the UK.
Dong Energy will continue to retain its 25% stake in the wind project, located 8km off Skegness on the east coast of England. Centrica and Siemens Project Ventures have sold their stake in the project to the subsidiaries of UK Green Investment Bank Financial Services and the UK Green Investment Bank.