Carriers still sore point for defence cuts

first_img whatsapp Wednesday 6 October 2010 8:00 pm KCS-content Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap whatsapp Sharecenter_img LIAM Fox yesterday confirmed that the Trident nuclear deterrent would be replaced, earning him a huge round of applause at the Tory conference, but the future of two aircraft carriers remains unclear.“The first duty of the government is defence of the realm. That is why we will maintain Britain’s nuclear deterrent and will go ahead with the trident replacement programme,” the defence secretary said. But Fox warned the government was approaching the defence spending review “with unavoidably constrained finances”, adding to fears that at least one of the Navy’s two aircraft carriers could be scrapped.The government could scrap both ships, which are expected to cost some £2.5bn each to build, but fears that the impact could prove fatal for Britain’s ship building industry. Another option is building just one carrier and keeping it in a state of “extended readiness”, essentially mothballing it.Earlier this week, former Prime Minister Gordon Brown made a rare intervention in national politics, and insisted that both aircraft carriers should be built as planned.But yesterday Fox responded with a scathing attack on Labour’s handling of the defence budget.He said: “We all know about Labour’s toxic economic legacy. There is an unfunded liability in defence of around £38bn over the next 10 years – compared to an annual budget of only £37bn. Fox added that the UK would pay £46bn on debt interest payments next year, a sum that could purchase four aircraft carriers, 300 Chinook helicopters, 13,000 troops, 10 destroyers, 50 cargo planes, and pay for a complete refurbishment of forces’ living quarters.Later, in his first conference speech as Prime Minister, David Cameron said the defence review would “match our commitments with the resources we’ve got”, and warned of “big changes” for Britain’s military.Resources for the Afghanistan war will be maintained or improved, but the Navy and Royal Air Force are bracing themselves for swingeing cuts. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Carriers still sore point for defence cuts Tags: NULLlast_img read more

AssetCo chief ousted after court defeat

first_img AssetCo chief ousted after court defeat Show Comments ▼ Thursday 24 March 2011 8:59 pm Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsappcenter_img whatsapp KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com THE CHIEF executive of troubled fire engine provider AssetCo resigned with immediate effect yesterday at the request of the boardJohn Shannon’s ousting is the latest twist in a rescue saga that saw AssetCo’s investors force through a £16m emergency share placement on Wednesday.Shannon, AssetCo’s largest shareholder after leading a management buyout in 2005, had clashed with investors after blocking the fundraising on Monday, plunging the company’s future into doubt and causing its shares to be suspended. In a hastily-arranged court hearing the evening after the company’s general meeting, shareholders were granted an injunction to force Shannon to comply with the rescue plan’s terms. It included a pledge from three key investors to supply £10m if they could appoint a new executive chairman.“Following the request of the board John Shannon has today resigned with immediate effect,” AssetCo said in a statement.Tudor Davies is now leading the company as executive chairman. Tim Wightman has stepped down as chairman and Christopher Mills has joined the board as a non-executive director.Shareholders were said to have grown frustrated with Shannon since AssetCo admitted in February it was struggling to raise £4m in short-term debt while it refinanced a £50m long-term loan facility. The problems quickly grew, leading to a proposed £8m and then £16m share placement. AssetCo now believes it requires an extra £3-4m of working capital in addition to the £16m just raised. AssetCo’s shares closed 3.6 per cent down at 13.5p on the news. Tags: NULLlast_img read more