BAE Systems, Europe’s largest defence company, had to answer shareholder concerns about company ethics at its annual meeting on Tuesday.

According to the Times report, BAe is subject to Serious Fraud Office investigations ofthe company's arms sales into South Africa, the Czech Republic, Tanzania and Romania. Meanwhile, BAe is also the subject of an investigation by the US Department of Justice.

Dick Olver, the chairman, stated that good progress was being made on improving ethical standards, but when questioned by an arms sales campaigner and investor appeared to say that whatever the company had done had been done to support the men and women on the front line. Note that does not necessarily mean our men and women on a front line that should matter to us politically, just whoever happens to be on the receiving end of the arms sales.