Tech EU News

Investors unhappy with BAE and EADS merger plan

Published

2 years ago

October 19, 2024

http://www.euronews.com/ EADS, the parent company of Airbus, and Britain’s BAE Systems have confirmed that they have been in talks since June about a merger.

That would create an aerospace and defence giant bigger than US rival Boeing in sales and that would be better able to cope with defence spending cutbacks in Europe and the United States.

However, investors questioned the rationale of a tie-up and EADS’ shares tumbling as much as 11 percent on Thursday, adding to the previous day’s fall and erasing more than half of the company’s gains made this year.

EADS stock, which earlier this week was up nearly 30 percent since the beginning of the year, has plummeted as much as 16 percent since the merger talks were unveiled on Wednesday, wiping about 3.8 billion euros off its market value.

Shares in BAE were down 6.4 percent on Thursday, surrendering more than half of the gains made since the merger talks were revealed on Wednesday afternoon.

There are still many hurdles to be cleared but sources close to the talks said the US government is not likely to block it.

A combined company would be worth around 37 billion euros. The current workforce of the two is 220,000.

Sales last year for EADS and BAE together totalled 72 billion euros compared with Boeing’s 53.2 billion.

Boeing chief executive Jim McNerney said the Chicago-based aerospace leader was not fundamentally threatened by such a merger.

McNerney said BAE and EADS are following the same policy as Boeing in seeking to balance commercial and defence work. He said that “does reflect a global consolidation that is beginning to happen”.

BAE Systems is a supplier to Boeing for both its military and commercial aircraft.

US government approval would be needed as BAE is one of the largest suppliers to the American military.

Linda Hudson, chief executive of the US arm of BAE Systems, said the deal made sense given the downturn in US and European defence spending, but would also insulate the combined company against the inevitable cycles of the aerospace sector.

“It’s a win-win proposition for both companies in this environment,” Hudson said.

Executives at another major US defence industry player – Lockheed Martin – declined to comment.

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Uber to develop technology to detect drunk passengers

Published

3 days ago

September 12, 2026

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Taxi app Uber to develop technology to detect drunk passengers…
READ MORE : http://www.euronews.com/2018/06/12/uber-to-develop-technology-to-detect-drunk-passengers

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Dangerous bacteria found in plastic pollution on Latvian and Lithuanian coastline

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6 days ago

September 9, 2026

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Scientists mapping plastic pollution on the Latvian and Lithuanian coastline have discovered high levels of dangerous bacteria, called vibrio. A project largely funded by the European Cohesion Policy, called, ESMIC, has found 736 pieces of litter on 100 metres of beach.

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Food fraud: how to be sure of the quality and safety of produce

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6 days ago

September 9, 2026

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We must ‘regain control’ of AI, says French President Macron

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6 days ago

September 9, 2026

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AI is a “remarkable transformation”, but using it to replace authors, creators or dubbing artists would be a “tremendous mistake”, Emmanuel Macron said at the first international summit on the future of cinema.

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Strasbourg school kid makes astrophysics discovery

Published

6 days ago

September 9, 2026

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http://www.euronews.com/ Fifteen year old Neil Ibata has made a scientific discovery that may change the way we understand the nearest ‘large’ galaxy to our own – Andromeda.

The school boy from Strasbourg was doing an internship at the city’s astronomical observatory,
where his father works, when he came across the findings with a new computer programme he had just learnt how to use.

Admitting he hadn’t spent a hundredth of the time using the programme as his father, he says: “We calculated the distance and speed of this galaxy, which allowed me to model it. It was the conclusion of several weeks of work. But we can definitely say I had some beginners luck.”

The new study observes 13 smaller satellite galaxies orbiting around Andromeda in a way similar to how the planets in our solar system orbit around the sun. The galaxies are orbiting on a thin, pancake-like plane at a scale 900 million times larger than our own solar system.

The 15-year-old is featured on the cover of science journal Nature and named as a co-author of the study, however, he says he is not sure about whether he will one day become an astrophysicist.

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