TWEET BACKLASH

UK defence giant BAE Systems is to axe 1,775 jobs across its naval ships business and end shipbuilding at one of Britain's most historic yards.

The owner of seven commercial UK ports attracted takeover speculation today after it was confirmed an Australian firm held 20% of the company.

British computer printer firm Lexmark announced today it is to axe 700 jobs with the closure of a manufacturing plant.

The merger of six UK naval shipyards has moved closer after an outline agreement was reached between the British government and defence group BAE Systems, it was reported today.