BAE plots £1bn buyback but warns 3,500 US jobs at risk

British defence giant BAE Systems plans to buy back £1bn of shares over the next three years, but has warned that 3,500 US jobs are threatened by spending cuts. FTSE 100 listed BAE said that had started a three-year buyback programme of up to £1bn, the full implementation of which is subject to a "satisfactory resolution" of its negotiations over its contract to supply Eurofighter Typhoon fighter jets to Saudia Arabia.

See the full article at Telegraph