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Qinetiq, once owned by the Ministry of Defence (MOD), said it would it pay $104.5m (£53m) in cash for the firm. Read More

England's House of Lords ruled that the Serious Fraud Office was lawful in its actions to halt investigations into allegations that BAE Systems ran a £60m "slush fund" and offered sweeteners to officials from Saudi Arabia in return for lucrative contracts. Read More

According to documents seen by the Financial Times, BAE Systems has been linked to Zimbabwean arms trader John Bredenkamp. BAE reportedly paid at least £20m to Bredenkamp via offshore entities in the British Virgin Islands between 2003 and 2005. The payments raise fresh questions about bribery in BAE's dealings. Read More

Federal investigators on Monday raided the downtown offices of a city-chartered nonprofit agency accused of abusing a federally financed program that was created to clean up houses damaged by Hurricane Katrina. Read More

An Alabama company controlled by a billionaire Kuwaiti family is the biggest supplier of guns to Iraq. These weapons were paid for by the Pentagon which has lost track of them. A new Amnesty international report says that such unrestrained global arms trading schemes may have catastrophic human rights consequences. Read More

The US military provided combat training to 80 Georgian special forces commandos only months prior to Georgia's army assault in South Ossetia in August. Read More

The U.S. government on Tuesday said it had approved up to $330 million in three separate arms deals for Israel, and sources tracking a much bigger deal for 25 Lockheed Martin Corp F-35 fighter jets said that agreement could be approved later this month. Read More

The Defense Department said this week that it wants to sell as many as 75 fighter jets to Israel in a $15.2 billion deal for the aircraft expected to be the mainstay of air power in the United States and several other nations for decades. Read More

The Defense Department will pay private U.S. contractors in Iraq up to $300 million over the next three years to produce news stories, entertainment programs and public service advertisements for the Iraqi media in an effort to "engage and inspire" the local population to support U.S. objectives and the Iraqi government. Read More