BAE profits down 8% but firm remains hopeful on £4.5bn Saudi Typhoon order

First-half profits stand at £529m as shrinking defence budgets and continued challenging conditions US government spending cuts contributed to an 8% decline in first-half profits at BAE Systems but the British defence group is hopeful of finally reaching an agreement with Saudi Arabia over the renegotiation of a £4.5bn Typhoon fighter contract. BAE has been repeatedly weighed down by its failure to settle a price for 72 Eurofighter Typhoon jets, despite securing the order from Saudi Arabia six...