European aerospace giant EADS is planning to create a single defence and space division out of three separate units. That consolidation could cost 8,000 jobs. Airplane division Airbus provides the lion's share of EADS profits nowadays.
Britain has presented its model for a next-generation fighter jet at the Farnborough Air Show. It would rival a similar France-led project, as the UK tries to maintain its military prowess in a post-Brexit world.
The European Commission has put forward proposals to strengthen a single market for defense research and procurement. Inefficiencies in the market result in 25-100 billion euros in waste a year.
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