NO SOLACE FOR QINETIQ

A defence firm said to be the inspiration for James Bond’s gadget geek Q saw £150million wiped off its stock market value yesterday. Shares in Qinetiq, formed in 2001 when the Ministry of Defence split its research arm in two, dived 9.5% after it gave a mived update to the City. The Hampshire-based business said last month’s general election shambles presented “opportunities and challenges”. But it revealed orders were “slower than expected with some customer contract award decisions deferred or delayed”.