Page last updated at 16:37 GMT, Friday, 5 February 2010

BAE criminal fines 'a serious embarrassment'

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BAE Systems is to pay a fine of more than $400m (£250m) after pleading guilty to a charge of conspiring to make false statements to the US government.

BAE has also pleaded guilty in the UK to one charge of inadequate accounting in relation to a radar contract in Tanzania in 2002 and will pay about £30m, thought to be a record corporate fine in the UK.

The US fine, agreed with the Department of Justice, relates to undertakings it gave to the US government in 2000 and 2002 in relation to the probity of the way it conducts business.

BBC business editor Robert Peston said that pleading guilty to criminal charges in Britain and America was "a very serious embarrassment to BAE".

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