BAE Systems slows Typhoon production, cuts UK jobs

By Paul Sandle and Sarah Young LONDON (Reuters) - BAE Systems will slow production of its Typhoon fighter jet and cut capacity at its Williamstown shipyard in Australia, the cost of which will mean earnings will not grow this year, the company said on Thursday. Europe's biggest defence contractor said the longer term outlook was brightened by increases in defence spending in the United States and other markets. The company has been waiting for a major order for Typhoon jets from Saudi Arabia.