America's newest Medal of Honor recipient has filed a lawsuit against his former employer, defense contractor BAE Systems, alleging the company and his supervisor there punished him for his opposition to a weapons sale to Pakistan and prevented him from finding other work by portraying him as a problem drinker and mentally unstable.
The former Saudi Arabian ambassador to the United States, Prince Bandar bin Sultan, may have received up to $2 billion in confidential payments from a British defense firm, BAE Systems, over a period of nearly 20 years, according to two British media reports.
BAE Systems ranks no. 320 on FORTUNE's Global 500 this year, with $20.2 billion in revenues, up 21.4% from the previous year. The London, Britain-based company was ranked no. 359 on the 2005 list. Its 2005 profits were $1.0 billion.
EADS, the European defense company and Airbus parent, on Thursday disclosed that its A380 super-jumbo program would be further delayed because of continuing wiring issues, but said it' s too early to gauge the financial impact of the latest setbacks or to set a new delivery schedule for the aircraft.
Britain's Ministry of Defence came under fire on a third front in a week Friday when a report highlighted cost overruns on heavy equipment to the tune of Â£3.1 billion (US$5.6 billion) in the year to last March.