BAESY Bae Systems Plc (PK)

--The U.K. will announce on Monday that BAE Systems has won a 1.5 billion pound ($2.0 billion) contract to build a seventh Astute-class submarine for the U.K. government, the Financial Times reports.

--The submarine will join another three under construction as well three that have already been built, according to the Financial Times.

--The U.K. defense budget faces a GBP20 billion shortfall in the next decade, opening up the question of whether this new investment will lead to cuts in other parts of the armed forces, the Financial Times reports.

Full story: https://on.ft.com/2jW7y7q

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(END) Dow Jones Newswires

May 14, 2018 04:47 ET (08:47 GMT)

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