Latest news with #strategicReview
The Guardian
2 days ago
- General
- The Guardian
Keir Starmer to unveil strategic defence review and put UK on ‘war-fighting readiness'
Update: Date: 2025-06-02T06:56:44.000Z Title: Keir Starmer Content: Good morning. In his great history of 20th century Britain, The Rise and Fall of the British Nation, David Edgerton uses the phrase 'warfare state' to describe the UK under the post-war Attlee government, and its successors. He does so to make the point that, although we think of that period as the era of the welfare state, defence spending was still huge (around 10% of GDP in the early 1950s). is not going to get close to that, but 'warfare state' still feels like a useful term to describe at least the direction in which he wants to shove Britain, as the strategic defence review being published today will indicate. Starmer will be interviewed on the Today programme shortly. Here is Dan Sabbagh's overnight preview story on what the defence review will say. And here is Dan's analysis, based on what we know so far about the document (which is quite a lot, because the Ministry of Defence has been trailing bits of it for days). Here is the agenda for the day. 8.10am: is interviewed on the Today programme. 9.30am: The Speaker's Conference on the security of candidates publishes an interim report. 10am: Starmer launches the strategic defence review at an event in Glasgow, where he will be taking questions from journalists. 10am: Nigel Farage, the Reform UK leader, holds a press conference in Aberdeen. Later, in the afternoon, he will be campaigning in Hamilton, where there is a Scottish parliamentary byelection on Thursday. 11.30am: Downing Street holds a lobby briefing. 2.30pm: Yvette Cooper, home secretary, takes questions in the Commons. After 3.10pm: Peers debate Commons amendments to the data (use and access) bill, in the latest stage in the stand-off between the two chambers over AI and copywright law. After 3.30pm: John Healey, the defence secretary, makes a statement to MPs about the strategic defence review. If you want to contact me, please post a message below the line when comments are open (normally between 10am and 3pm at the moment), or message me on social media. I can't read all the messages BTL, but if you put 'Andrew' in a message aimed at me, I am more likely to see it because I search for posts containing that word. If you want to flag something up urgently, it is best to use social media. You can reach me on Bluesky at @ The Guardian has given up posting from its official accounts on X but individual Guardian journalists are there, I still have my account, and if you message me there at @AndrewSparrow, I will see it and respond if necessary. I find it very helpful when readers point out mistakes, even minor typos. No error is too small to correct. And I find your questions very interesting too. I can't promise to reply to them all, but I will try to reply to as many as I can, either BTL or sometimes in the blog.
The Independent
3 days ago
- Business
- The Independent
Starmer's strategic defence review: What we know so far from home guard to ‘nuclear jets'
One of Sir Keir Starmer 's first acts as prime minister was to order a 'root and branch' review of Britain's armed forces. The prime minister said the UK's military capabilities had been 'hollowed out' during 14 years of Conservative rule, warning that an urgent revamp was needed with the country facing an increasingly dangerous world. And 10 months on, Sir Keir will on Monday unveil the outcome of the so-called strategic defence review. The Independent looks at what we know about the defence review and what to expect. Led by Lord Robertson, a former Labour defence secretary and secretary general of Nato, it brought together experts from the military, industry and academia. Lord Robertson was tasked with considering 'the threats Britain faces, the capabilities needed to meet them, the state of UK armed forces and the resources available'. Announcing the review, Sir Keir said: 'We live in a more dangerous and volatile world. My government will forge a new clear-eyed approach to our national defences, equipping us to tackle international threats head-on while keeping the British people safe and secure.' It was desperately needed, with Russia's invasion of Ukraine highlighting the importance of new technologies such as drones in warfighting, while parliament's defence committee warned last year Britain would not be prepared to fight an all-out war. Alongside this, Donald Trump has been pressuring Sir Keir to hike Britain's defence spending to 3 per cent of GDP years earlier than planned, as the president seeks to wean Europe off dependence on the US for military support. And, adding to the urgency of an overhaul is Sir Keir's planned peacekeeping force, which would see thousands of troops sent to Ukraine in the event of Volodymyr Zelensky and Vladimir Putin agreeing to a ceasefire. Ahead of the long-awaited review's publication, some insights have emerged, giving the public a taste of what to expect when it is fully unveiled. A key part of the review, announced by defence secretary John Healey, is a cyber command to counter a 'continual and intensifying' level of cyber warfare. Mr Healey has also announced plans to invest more than £1 billion into a new 'digital targeting web' to be set up by 2027, to better connect weapons systems and allow battlefield decisions targeting enemy threats to be made and executed faster. He said the intensity of the cyber attacks the UK is seeing from Russia has stepped up, adding that 'cyber is now the leading edge, not just of defence, but of contests and tension between countries'. Cyber experts are also expected to be sent to the frontline alongside regular forces, in a move designed to modernise the military. The review is also expected to put forward plans to establish a new home guard to protect key British infrastructure from attacks by hostile states and terrorists. The new force drawn from the civilian population would be sent to guard sites such as airports, power plants and coastal hubs where undersea internet cables join the shoreline. Ministers have also announced they are to spend an additional £1.5 billion fixing up the military at home amid claims years of neglect have led to troops quitting. At the same time, another £1.5bn will be used to build at least six munitions and weapons factories, as part of an attempt to be ready for potential future conflicts. The Times reported Britain also wants to purchase fighter jets capable of firing tactical nuclear weapons, which would mark a recognition that the world has entered a more dangerous nuclear era. The review is also expected to warn of an "immediate and pressing" threat by Russia and draw heavily on the lessons learned from the war in Ukraine. Despite some welcoming the early announcements and leaks, experts have raised concerns throughout the process of the review about delays caused by growing global tensions, whether it is ambitious enough, and whether Sir Keir's commitment to spend 2.5 per cent of GDP on defence would be enough. Matthew Savill, director of military sciences at the Royal United Services Institute (RUSI) think tank, said: 'The long-awaited strategic defence review can lead to significant change in the Armed Forces if it moves beyond previous platitudes and half-implemented ideas on innovation to rebuild the foundations of defence while also making recommendations for the big choices on technological transformation.' The strategic defence review is the latest overhaul of Britain's defence outlook, following an integrated review of security, defence, development, and foreign policy in 2021, which was then refreshed in 2023 after Russia's invasion of Ukraine.
The Independent
4 days ago
- Business
- The Independent
Starmer's strategic defence review: What do we know so far?
One of Sir Keir Starmer 's first acts as prime minister was to order a 'root and branch' review of Britain's armed forces. The prime minister said the UK's military capabilities had been 'hollowed out' during 14 years of Conservative rule, warning that an urgent revamp was needed with the country facing an increasingly dangerous world. And 10 months on, Sir Keir will on Monday unveil the outcome of the so-called strategic defence review. The Independent looks at what we know about the defence review and what to expect. Led by Lord Robertson, a former Labour defence secretary and secretary general of Nato, it brought together experts from the military, industry and academia. Lord Robertson was tasked with considering 'the threats Britain faces, the capabilities needed to meet them, the state of UK armed forces and the resources available'. Announcing the review, Sir Keir said: 'We live in a more dangerous and volatile world. My government will forge a new clear-eyed approach to our national defences, equipping us to tackle international threats head-on while keeping the British people safe and secure.' It was desperately needed, with Russia's invasion of Ukraine highlighting the importance of new technologies such as drones in warfighting, while parliament's defence committee warned last year Britain would not be prepared to fight an all-out war. Alongside this, Donald Trump has been pressuring Sir Keir to hike Britain's defence spending to 3 per cent of GDP years earlier than planned, as the president seeks to wean Europe off dependence on the US for military support. And, adding to the urgency of an overhaul is Sir Keir's planned peacekeeping force, which would see thousands of troops sent to Ukraine in the event of Volodymyr Zelensky and Vladimir Putin agreeing to a ceasefire. Ahead of the long-awaited review's publication, some insights have emerged, giving the public a taste of what to expect when it is fully unveiled. A key part of the review, announced by defence secretary John Healey, is a cyber command to counter a 'continual and intensifying' level of cyber warfare. Mr Healey has also announced plans to invest more than £1 billion into a new 'digital targeting web' to be set up by 2027, to better connect weapons systems and allow battlefield decisions targeting enemy threats to be made and executed faster. He said the intensity of the cyber attacks the UK is seeing from Russia has stepped up, adding that 'cyber is now the leading edge, not just of defence, but of contests and tension between countries'. Cyber experts are also expected to be sent to the frontline alongside regular forces, in a move designed to modernise the military. The review is also expected to put forward plans to establish a new home guard to protect key British infrastructure from attacks by hostile states and terrorists. The new force drawn from the civilian population would be sent to guard sites such as airports, power plants and coastal hubs where undersea internet cables join the shoreline. Ministers have also announced they are to spend an additional £1.5 billion fixing up the military at home amid claims years of neglect have led to troops quitting. At the same time, another £1.5bn will be used to build at least six munitions and weapons factories, as part of an attempt to be ready for potential future conflicts. The review is also expected to warn of an "immediate and pressing" threat by Russia and draw heavily on the lessons learned from the war in Ukraine. Despite some welcoming the early announcements and leaks, experts have raised concerns throughout the process of the review about delays caused by growing global tensions, whether it is ambitious enough, and whether Sir Keir's commitment to spend 2.5 per cent of GDP on defence would be enough. Matthew Savill, director of military sciences at the Royal United Services Institute (RUSI) think tank, said: 'The long-awaited strategic defence review can lead to significant change in the Armed Forces if it moves beyond previous platitudes and half-implemented ideas on innovation to rebuild the foundations of defence while also making recommendations for the big choices on technological transformation.' The strategic defence review is the latest overhaul of Britain's defence outlook, following an integrated review of security, defence, development, and foreign policy in 2021, which was then refreshed in 2023 after Russia's invasion of Ukraine.
Yahoo
09-05-2025
- Business
- Yahoo
Ancora Urges Shareholders to Oust Forward Air Chair on Omni Deal, Slow Sale Process
Activist investor Ancora Holdings Group is calling on shareholders of Forward Air Corporation to sack chairman George Mayes and two other board members, citing a distrust in their ability to 'support a credible strategic review.' The Forward Air board first initiated a strategic review of its business in January, after multiple activist investors including Ancora had called for the company to consider other options, including selling the company. More from Sourcing Journal Chain Reaction: UniUni's Scott Wang on Building Smarter Supply Chains with AI and Automation Byte-Sized AI: Elm AI Gets $2M for Supply Chain Sustainability; Agentic AI Continues Its Rise J.B. Hunt Says Most Customers 'Waiting for the Dust to Settle' on Tariffs In a letter to Forward shareholders, Ancora said it would vote against Mayes and directors Javier Polit and Laurie Tucker for reelection at the upcoming annual shareholders meeting on June 11. Directors would be required to resign if they don't secure 50.1 percent of the votes. Shares rose 4 percent in morning trading Wednesday after the release of the letter. Sourcing Journal reached out to Forward Air Corp. Ancora maintains that the three 'unfit legacy directors' cannot be trusted to make decisions that benefit shareholders, citing their support for the 'disastrous,' litigation-filled acquisition of Omni Logistics and the resistance to public calls for a strategic review last year. Ancora, which a 4.1 percent stake in the company, is one of four minority shareholders that have sought a shakeup at Forward Air over the past year. 'In the four months since its [strategic review] announcement, the board has moved alarmingly slowly, causing us to become deeply troubled by its apparent inability or unwillingness to advance shareholders' best interests,' the Ancora representatives said. 'We fear that the board has not even entered into non-disclosure agreements with any interested parties as of the date of this letter.' Frederick DiSanto, chairman and CEO of Ancora Holdings Group, and James Chadwick, president of Ancora Alternatives, penned the letter. The hedge fund says it wants to send the board a message that 'the status quo is unacceptable in light of the significant value that has been destroyed' by the company. The $2.1 billion Omni Logistics deal generated scrutiny from shareholders and Forward Air customers alike from the time it was first announced in August 2023, ultimately leading to the departure of the CEOs at both companies. Forward Air's stock price has reflected the sentiment, cratering more than 80 percent since the initial announcement. 'The Omni transaction was egregious for Forward Air shareholders from the beginning, as evidenced by the fact that it was intentionally structured to avoid a pre-closing shareholder vote, was funded by a whopping $1.85 billion in debt and effectively coerced shareholders to vote for their own dilution,' said Ancora. 'The deal incurred substantial earnings quality risk and introduced significant potential competitive disadvantages for the company's core domestic freight forwarding customers.' In the letter, Ancora also claimed that the board was 'slow-walking the company's sale process,' calling out the directors' 'alarming' lack of urgency in pursuing a sale. The wealth management firm pointed to the fact that it took the board three months after hiring Goldman Sachs to announce a formal sale process. Additionally, Ancora called the logistics service's provider's balance sheet an 'acute concern.' As of the company's fourth quarter, total long-term debt was $1.68 billion. 'The longer inaction persists, the more likely it becomes that Forward Air encounters further distress and negative financial and operational outcomes,' said Ancora. 'We continue to believe that the private market is the best place for Forward Air to fix its balance sheet issues, improve operations and profitability, and serve customers and other stakeholders.' The hedge fund said there was no reason Forward Air should not expedite its sale process, especially since multiple private equity firms are shareholders. To avoid interfering with a possible sale process, Ancora says it chose not to nominate new director candidates for election to the Board this year. Ancora's concerns have been lobbied by other hedge funds. Between Ancora, Alta Fox, Clearlake Capital Group and Irenic Capital Management, roughly 25 percent of Forward Air's outstanding shares have publicly voiced support for exploring strategic alternatives. Ancora has had its hand in a few recent board battles within the apparel supply chain. Last year, three director nominees were voted in at Norfolk Southern after a months-long proxy fight. The hedge fund also sought to replace Pitney Bowes CEO Marc Lautenbach two years ago, and while their own candidate wasn't selected, Lautenbach stepped down. And in late 2022, Ancora sought to replace then-Kohl's CEO Michelle Gass, who ultimately left the company for Levi's two months after the push. Forward Air will first-quarter post earnings aftermarket on Wednesday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
