BAE shares fall amid Saudi contract fears

Shares in BAE Systems were on the slide today amid fears that Saudi Arabia could pull out of a deal to buy 72 Eurofighter jets.

The Daily Telegraph said the Saudis were poised to hand the £76bn (€112.2bn) contract to France because of an investigation by the Serious Fraud Office in London into allegations that BAE in the past used a “slush fund” for payments to Saudi dignitaries to secure defence contracts.