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State-owned Motor Sich is Ukraine's main manufacturer of aircraft and helicopter engines, including for some of the world's largest cargo planes. Many legacy Ukrainian defense companies will trigger "red flags" during the lengthy due diligence and compliance reviews conducted by Western defense companies, said one U.S. defense executive. A Motor Sich representative stopped by ITA's booth and spoke briefly about their company's capabilities, the spokesperson said. ROOTING OUT CORRUPTIONZelenskiy has made rebuilding Ukraine's defense and aerospace sector a top priority, which includes deeper investment in drone technology. While the talks in Washington later this week and last month's Dubai air-show contacts are potentially promising, the political realities that Western defense officials are grappling with could hinder any progress.

Persons: Gleb Garanich, Olexiy Nikiforov, Lockheed Martin, Pavlo Verkhniatsky, Volodymyr Zelenskiy, Korzh, Trump, Nikiforov, RTX, Northrop, Valerie Insinna, Joanna Plucinska, Tim Hepher, Jo Mason, Jane Merriman Organizations: Motor Sich, REUTERS, State, Sich, Reuters, Lockheed, White, U.S, Western, U.S . Department of Commerce, Dubai Air Show, Commerce Department's International Trade Administration, Boeing, Northrop Grumman, Republicans, Ukraine –, Thomson Locations: Ukrainian, Kyiv, Ukraine, WASHINGTON, Russia, China, Washington, U.S, Moscow, Zaporizhzhia, Dubai, Gaza, London

Defence Minister Yasar Guler said last week that Turkey was in talks with Britain and Spain to buy Eurofighter Typhoon jets, though Germany objected to the idea. Guler was holding talks on the issue with his British counterpart Grant Shapps in Ankara on Thursday, the source said. Turkey wants to buy the most advanced, newly built version of the Eurofighter, he added. NATO member Turkey requested in October 2021 to buy 40 Lockheed Martin Corp (LMT.N) F-16 fighters and 79 modernisation kits for its existing warplanes. The Eurofighter Typhoon jets are built by a consortium of Germany, Britain, Italy and Spain, represented by Airbus (AIR.PA), BAE Systems (BAES.L) and Leonardo (LDOF.MI).

Persons: Yasar Guler, Guler, Grant Shapps, Joe Biden's, Leonardo, Tayfun Ozberk, Serhat, Huseyin Hayatsever, Jonathan Spicer, William Maclean Organizations: Eurofighter, . Defence, Eurofighter Typhoon, British, NATO, Turkey, Lockheed Martin Corp, U.S . Congress, Airbus, BAE Systems, Biden Administration, Eurofighter Typhoons, Kadir Has University, Turkish Air Force, Thomson Locations: ANKARA, Turkey, United States, Turkish, Britain, Spain, Germany, Ankara, Italy

☆ Boeing to boost production capacity for Patriot missile sensors
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo Acquire Licensing RightsNov 13 (Reuters) - Boeing (BA.N) said on Monday it will increase Huntsville factory production capacity for sensors that are used to guide Patriot missiles to their targets to meet rising air and missile defense needs worldwide. The facility with increased production capacity, expected to be operational in early 2027, will enable Boeing to increase annual PAC-3 (Patriot Advanced Capability-3) seeker production by more than 30%, the company said. Ukraine has used Patriot missiles in its effort to repel Russia's invasion. Patriot, which stands for Phased Array Tracking Radar for Intercept on Target, is considered one of the most advanced air defense systems in the U.S. arsenal.

Persons: Sao Jose dos Campos, Gabriel Araujo, Lockheed Martin, Aatreyee Dasgupta, Shounak Dasgupta Organizations: Boeing, REUTERS, Lockheed, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, Huntsville, United, Ukraine, U.S, Bengaluru

☆ US Air Force's new B-21 Raider "flying wing" bomber takes first flight - Reuters witness
▼ + stars: | 2023-11-10 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

However, the Air Force has kept other price information classified, "which makes validating the proposed cost difficult," the Congressional Research Service said in a 2021 report. The Air Force plans to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. Ann Stefanek, an Air Force spokesperson said, "The B-21 Raider is in flight testing. Flight testing is a critical step in the test campaign managed by the Air Force Test Center and 412th Test Wings B-21 Combined Test Force." In early 2022, the Air Force further delayed it until 2023.

Persons: David Swanson, Ann Stefanek, Lockheed Martin, Northrop, Mike Stone, Valerie Insinna, Franklin Paul Organizations: United States Air, Northrop, Air Force, REUTERS, U.S, Air Force's, Northrop Grumman, Congressional Research Service, Pentagon, Air Force Test Center, Force, Boeing, Lockheed, Pratt, Whitney, Collins Aerospace, GKN Aerospace, BAE Systems, Franklin Paul Our, Thomson Locations: Palmdale , California, U.S, Washington

Details of how Japan is paring back military procurement due to currency fluctuations have not been previously reported. China, which has not ruled out using military force to bring Taiwan under its control, has expressed concern about Japan's military spending plans, accusing it of displaying a "Cold War mentality." In December, defence ministry officials discussed an order for 34 twin-rotor Chinook transport helicopters at roughly 15 billion yen per aircraft, two of the sources said. She declined to comment on whether the defence ministry had dropped an order for the seaplane. A ministry spokesperson confirmed the companies delivered a letter on Oct 25 to Defence Minister Minoru Kihara urging the government to proceed with the defence procurement as planned.

Persons: Tomohiro, Fumio Kishida, Christopher Johnstone, Johnstone, Biden, Kishida, outlays, spender, Nancy Pelosi's, Yoji Koda, Lockheed Martin, Minoru Kihara, Kevin Maher, Nobuhiro Kubo, Takaya Yamaguchi, Tim Kelly, Yoshifumi Takemoto, Katerina Ang Organizations: Defense Force, East Fuji Maneuver, REUTERS Acquire, Rights, Reuters, Bank of Japan, Center for Strategic, International Studies, National Security, East, Japan's Ministry of Defence, Embassy, Pentagon, Russian, Kawasaki Heavy Industries, Boeing Co, Kawasaki, Industries, Maritime Self Defense Force, Raytheon, Lockheed, Japan Business Federation, NMV Consulting, U.S . State Department's Office, Japan Affairs, Thomson Locations: Japan, Gotemba, Shizuoka, Taiwan, Tokyo, Washington, Beijing, East Asia, U.S, East China, Ukraine, China, U.S .

☆ Big government will drive the next market cycle
▼ + stars: | 2023-10-31 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Growth picked up while quiescent inflation permitted interest rates to fall. Bereft of government support, central banks tried to stimulate their economies by pushing interest rates to new lows. That means interest rates will struggle to return to the ultra-low levels seen after 2008. The first takeaway is that higher debt levels, inflation and interest rates should be bad for bonds. Vincent Deluard of StoneX has proposed a division between intangible and tangible companies.

Persons: Kevin Lamarque, ” Ronald Reagan’s, Milton Friedman –, Britain’s Margaret Thatcher –, Reaganomics ”, Réka Juhász, Nathan J, Lane, Dani Rodrik, government’s, Vincent Deluard, StoneX, Lockheed Martin, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Republicans, Capitol, REUTERS, Reuters, Bank, Asset, Monetary Fund, Treasury, Capital Economics, Reuters Graphics Reuters Graphics, Capital, Facebook, Meta, Lockheed, Micron Technology, U.S, Congress, Nasdaq, Energy, Exxon Mobil, Labour Party, Thomson Locations: Washington , U.S, “, Ukraine, Covid, Europe, United States, United Kingdom, Germany, Japan

☆ Ukraine war orders starting to boost revenues for big US defense contractors
▼ + stars: | 2023-10-27 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

WASHINGTON, Oct 27 (Reuters) - The Russian invasion of Ukraine in 2022 is starting to boost defense contractors' revenues, as customers such as the U.S. government restock supplies shipped to Ukraine and countries around Europe arm themselves with an eye on Moscow's aggressions. New contracts to supply Ukraine directly - or backfill U.S. weapons sent to Ukraine - were signed late last year, and now revenue is flowing to the big defense contractors. "We've gone from 14,000 (artillery) rounds per month to 20,000 very quickly. The General Dynamics' Combat Systems unit, which makes armored vehicles, tanks and the artillery Ukraine uses, saw its revenue rise almost 25% versus the same period a year ago. Third-quarter sales for Northrop Grumman's (NOC.N) Defense Systems segment rose 6% on high demand for ammunition and rocket motors used in guided multiple-launch rocket systems (GMLRS), which play a crucial role in supporting Ukraine's defense efforts against Russian forces.

Persons: Lockheed Martin, We've, Jason Aiken, Northrop Grumman's, Sweden's, Joe Biden, Biden, Dynamics's Aiken, Mike Stone, Rod Nickel Organizations: Lockheed, General Dynamics, Patriot, Palestinian, Hamas, Wall, Dynamics ', Systems, Wall Street, Russian, Sweden's Saab, Rheinmetall, Thomson Locations: Ukraine, Europe, aggressions ., U.S, Israel, Arizona, Pennsylvania, Ohio, Texas, Washington

☆ Boeing struggles to steer defense unit in another year of losses
▼ + stars: | 2023-10-27 | by ( Valerie Insinna | ) www.reuters.com time to read: +5 min

The Boeing KC-46 Pegasus aerial refueling tanker is seen before a delivery celebration to the U.S. Air Force in Everett, Washington, U.S., January 24, 2019. Despite absorbing $4.4 billion in losses in 2022 – which executives said would lower the risk of future cost overruns – the unit has seen little improvement this year. Excluding last year, losses on Boeing's defense programs in 2023 exceed those from all years since 2014, according to a Reuters review of Boeing’s regulatory filings. The latest charge for Air Force One brought total losses to $2.4 billion on a $3.9 billion contract to develop two planes. A better bet, and one Boeing's defense segment is aggressively pursuing, is inking future contracts for next-generation fighter jets and cutting-edge drones.

Persons: Lindsey Wasson, Lockheed Martin, Brian West, Byron Callan, ”, Seth Seifman, JP Morgan, “, NASA's, West, there's “, Richard Aboulafia, ” Aboulafia, Valerie Insinna, Rod Nickel Organizations: Boeing KC, Pegasus, U.S . Air Force, REUTERS, Rights, Air Force, Boeing, Lockheed, General Dynamics, Capital Alpha Partners, U.S . Defense Department, NASA, BDS, Boeing Defense Space, U.S . Air Force's KC, KC, Thomson Locations: Everett , Washington , U.S, Ukraine

☆ General Dynamics beats quarterly estimates on robust military equipment demand
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Saudi men are seen at General Dynamics stand displaying the latest defence system at World Defense Show in Riyadh, Saudi Arabia, March 6, 2022. REUTERS/Ahmed Yosri/File Photo Acquire Licensing RightsOct 25 (Reuters) - U.S. defense contractor General Dynamics (GD.N) beat Wall Street estimates on Wednesday, as buoyant military equipment demand helped overcome higher operating expenses. General Dynamics-manufactured weapons systems, munitions, and combat vehicles such as Abrams tanks have been essential to Ukraine's operations. UAW members at the company make highly profitable military vehicles, including tanks and light armored vehicles, according to the union. General Dynamics joined peer defense contractors Lockheed Martin (LMT.N) and RTX (RTX.N) to report better-than-expected quarterly results.

Persons: Ahmed Yosri, Abrams, Lockheed Martin, Pratyush Thakur, Krishna Chandra Organizations: General Dynamics, Defense, REUTERS, Dynamics, Pentagon, United Auto Workers, UAW, Gulfstream, Thomson Locations: Riyadh, Saudi Arabia, Reston , Virginia, Ukraine, Bengaluru

"Airbus remains committed to providing the U.S. Air Force and our warfighters with the most modern and capable tanker on the market," an Airbus spokesperson said. The Air Force has sought to replace hundreds of Eisenhower-era KC-135 tankers in three lots. "Lockheed Martin has decided not to respond to the U.S. Air Force's KC-135 fleet recapitalization Request for Information," Lockheed spokesperson Stephanie Stinn said in a statement. A Lockheed-Airbus victory would have landed Airbus its first aircraft contract with the U.S. Air Force after attempting to penetrate the U.S. defense market for two decades. In 2011, Boeing won the first of the three-phase procurement to replace the Air Force's aging tanker fleet, securing a contract for 179 KC-46s.

Persons: Cheney Orr, Eisenhower, Lockheed Martin, Stephanie Stinn, Lockheed's, Valerie Insinna, Mike Stone, Chizu Organizations: Lockheed, Association of, United States Army, Global, REUTERS, Rights, Lockheed Martin Corp, U.S . Air, KC, Air Force, Airbus, U.S . Air Force, The Air Force, Boeing, U.S . Air Force's KC, Pegasus, Refueling, recapitalization, Air, Thomson Locations: Huntsville , Alabama, U.S, Alabama, Georgia, Washington

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. A rise in U.S. Treasury yields, with the 10-year yields up at 4.813%, pressured megacaps Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O) and Amazon.com (AMZN.O), dragging them down between 0.1% and 0.5%. Bank of America (BAC.N) gained 3.1%, boosting the S&P 500 (.SPX) as it joined rivals in earning more from interest payments by its customers, while investment banking and trading fared better than expected. Economy-sensitive energy (.SPNY) and materials stocks (.SPLRCM) led gains amongst the major S&P 500 sectors, while information technology (.SPLRCT) lagged behind. Dollar Tree (DLTR.O) rose 4.4% after Goldman Sachs upgraded the discount retail chain's shares to "buy" from "neutral".

Persons: Brendan McDermid, Goldman Sachs, megacaps, Sam Stovall, Thomas Barkin, Biden, Joe Biden, Benjamin Netanyahu, Lockheed Martin, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Companies, Biden, Dow, Nasdaq, Treasury, megacaps Apple, Microsoft, CFRA Research, Federal Reserve Bank of Richmond, Bank of America, Semiconductor, Dow Jones, Israel, Washington, VMware, NYSE, Thomson Locations: New York City, U.S, China, megacaps ., Philadelphia, Bengaluru

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 17 (Reuters) - Lockheed Martin (LMT.N) reported higher third-quarter revenue on Tuesday, as geopolitical tensions fueled sustained demand for its military equipment. Lockheed's weapons, such as the guided multiple launch rocket system and Javelin anti-tank missiles, made in conjunction with defense company RTX (RTX.N), have proven critical to Ukraine's war efforts. Revenue at the Missiles and Fire Control unit, which makes the High Mobility Artillery Rocket System, was $2.94 billion, up 3.8% from a year earlier. Bethesda, Maryland-based Lockheed posted a net income of $6.73 per share for the quarter ended Sept. 24, compared with $6.71 per share a year earlier. Quarterly net sales rose around 1.78% to $16.88 billion.

Persons: Cheney Orr, Lockheed Martin, LMT.N, restocking, Frank St John, Pratyush Thakur, Mike Stone, Krishna Chandra Organizations: Lockheed, Association of, United States Army, Global, REUTERS, Reuters, Missiles, Control, High Mobility Artillery, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Bethesda , Maryland, Bengaluru, Washington

However since parliament opened on Oct. 1, its foreign affairs commission, which would debate the NATO bid, has received almost 60 international agreements to review - excluding Sweden's, official data shows. A second person familiar with U.S.-Turkish talks said a rough proposal - in which each side would take steps toward ratifying the NATO bid on the one side, and the F-16s purchase on the other - had been delayed. IN NO RUSHTurkey, NATO's second-biggest military, is still expected to ultimately endorse Sweden's bid and could rapidly move on it. Addressing the drone incident, which occurred near U.S. troops on Oct. 5, Erdogan said last week: "Isn't Turkey a NATO ally of the U.S.? Finnish membership was sealed in April, marking an historic expansion of the Western defence bloc, but Sweden's bid remains held up by Turkey and Hungary.

Persons: Tayyip Erdogan, Ulf Kristersson, Jens Stoltenberg, Yves Herman, Joe Biden, RUSH Turkey, NATO's, Sweden's, Erdogan, Yasar Guler, Humeyra Pamuk, Simon Johnson, Bernadette Baum Organizations: NATO, REUTERS, Rights, Washington, State Department, AK Party, U.S, U.S . State Department, RUSH, Kurdistan Workers Party, European Union, Turkish Defence, Swedish, U.S . Senate, White House, Lockheed Martin Corp, Palestinian, Hamas, aircraft, Thomson Locations: Swedish, Vilnius, Lithuania, Rights ANKARA, Turkey, Sweden, Ankara, United States, Syria, U.S, NATO, Finland, Russia, Ukraine, Hungary, Brussels, Stockholm, Helsinki, Iraq, Gaza, Riyadh

Energy (.SPNY) was the top S&P 500 sector gainer, jumping 3.6% and on track for its best single-day performance in six months. The airlines' shares were down around 5% each, dragging the S&P 500 Passenger Airlines index (.SPLRCALI) down 4.5% to its lowest in a year. The broader S&P 500 Aerospace & Defense index (.SPLRCAERO) jumped 4.9%. Exchange-traded funds exposed to Israel including iShares MSCI Israel ETF and the ARK Israel Innovative Technology ETF slid 7.8% and 4.6%, respectively. The S&P index recorded four new 52-week highs and 18 new lows, while the Nasdaq recorded 24 new highs and 236 new lows.

Persons: Brendan McDermid, Tesla, Israel, Lloyd Austin, It's, Peter Andersen, Northrop, Lockheed Martin, iShares, decliners, advancers, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Nvidia, Big Tech, U.S, Israel, Dow, Nasdaq, Hamas, U.S . Defense, Dow Jones, Treasury, Columbus Day, Apple, Microsoft, U.S ., Andersen Capital Management, Boston . Energy, United Airlines, Delta Air Lines, American Airlines, Airlines, Defense, Northrop Grumman, General Dynamics, Lockheed, Aerospace, . Exchange, ARK Israel Innovative Technology, Federal, NYSE, Thomson Locations: New York City, U.S, China, Israel, Palestinian, Lebanon, Gaza, United States, Boston, Tel Aviv, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. ET, Dow e-minis were down 152 points, or 0.45%, S&P 500 e-minis were down 24.25 points, or 0.56%, and Nasdaq 100 e-minis were down 109.5 points, or 0.72%. Traditional safe-haven assets including gold and the U.S. dollar gained, while growing uncertainty pushed crude prices higher. The Nasdaq (.IXIC) and the S&P 500 (.SPX) posted weekly gains on Friday as mixed jobs reports kept investors on edge around the Federal Reserve's interest rate outlook. Tesla (TSLA.O) shed 1.7% as data showed the company's China-made EV sales volume for September decreased 10.9% from a year ago.

Persons: Brendan McDermid, Tesla, Lloyd Austin, Stuart Cole, Northrop, Lockheed Martin, Philip Jefferson, Michael Barr, Nelson Peltz's, Shashwat Chauhan, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Nvidia, Big Tech, U.S, Israel, Dow, Nasdaq, Hamas, . Defense, Dow e, U.S ., Equiti, Energy, Chevron, Exxon Mobil, Occidental Petroleum, United Airlines, Delta Air Lines, American Airlines, Barrick Gold, Northrop Grumman, General Dynamics, Lockheed, Columbus Day, Apple, Intel, Qualcomm, Devices, JPMorgan Chase, Citigroup, BlackRock, Management, Thomson Locations: New York City, U.S, China, Israel, Palestinian, Gaza, United States, Tel Aviv, Wells Fargo, Bengaluru

☆ US readies new Ukraine arms package despite tumult in Congress
▼ + stars: | 2023-10-06 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

Commander of the Joint Forces of the Armed Forces of Ukraine Serhiy Nayev fires an American Browning M2 machine gun during a military exercise, amid Russia's attack on Ukraine, in Kyiv region, Ukraine September 27, 2023. Those funds have allowed the Biden administration to send Kyiv arms, supplies and munitions despite the exclusion of new Ukraine aid from a stopgap spending bill passed by the House of Representatives last weekend to prevent a government shutdown. Biden has vowed to replenish stocks of arms sent to Ukraine. The Biden administration is also considering using a State Department grant program to send Ukraine additional military aid, a U.S. official said. Democrats, who strongly support aid to Ukraine, insist that Congress will back continued assistance.

Persons: Ukraine Serhiy Nayev, Gleb Garanich, Biden, congressionally, Lockheed Martin, Kevin McCarthy, Mitch McConnell, Mike Stone, Rami Ayyub Organizations: Joint Forces of, Armed Forces, REUTERS, Rights, Pentagon, Kyiv, Republicans, Ukraine Defense Contact, of Defense, General Dynamics, State Department, U.S, Republican, Thomson Locations: Ukraine, American, Kyiv region, Brussels, U.S

President Joe Biden asked Congress in July to approve another $24 billion related to Ukraine, which Ukraine supporters - Republicans as well as Democrats - had hoped could become law as part of a spending bill. A U.S. official said that, as of Monday, the Defense Department had $1.6 billion left to replace weapons sent to Ukraine, no funds left under the Ukraine Security Assistance Initiative (USAI) and $5.4 billion worth of Presidential Drawdown Authority. But he, and some other Republicans in both the House and Senate, refused to include more aid for Ukraine in the measure. "Today, DoD has exhausted nearly all available security assistance funding for Ukraine," McCord wrote in the letter, dated Sept. 29 and expressing concern that the stopgap spending bill did not include security assistance for Ukraine. Ukraine's Foreign Minister Dmytro Kuleba said Kyiv was in talks with Republicans and Democrats in Congress, and that the drama around the stopgap bill was an "incident" rather than something systemic.

Persons: Kevin McCarthy, Ken Cedeno, Joe Biden's, Biden, McCarthy, Joe Biden, UKRAINE DRUMBEAT, Donald Trump, White, Matt Gaetz, Karine Jean, Pierre, Vladimir, Putin, Jean, Michael McCord, McCord, Lockheed Martin’s, Dmytro Kuleba, Patricia Zengerle, Mike Stone, Moira Warburton, Makini Brice, Steve Holland, Don Durfee, Alison Williams Organizations: ., U.S, Capitol, REUTERS, Rights, Ukraine, Republican, Republicans, Defense Department, Ukraine Security Assistance Initiative, Congress, Senate, Reuters Graphics REPUBLICAN, Kyiv, Monday, White, Department of Defense, Pentagon, DoD, RTX, Lockheed, Democrats, Thomson Locations: Washington , U.S, U.S, Washington, Kyiv, Russia, Ukraine, UKRAINE, Tucson , Arizona, Camden , Arkansas

☆ Australia to retire Taipan helicopter fleet early after crash
▼ + stars: | 2023-09-29 | by ( Renju Jose | ) www.reuters.com time to read: +3 min

The Taipan fleet will not return to flying operations before the previously planned withdrawal date of December 2024, Defence Minister Richard Marles said. Australia in January said it would buy 40 Black Hawk military helicopters, manufactured by Lockheed Martin (LMT.N), for an estimated A$2.8 billion ($1.80 billion). The Black Hawks are set to replace the Australian army's fleet of Taipan helicopters, which have been plagued for years by maintenance issues. "The first of the 40 Black Hawks that will replace the (Taipan) MRH-90 have arrived and are already flying in Australia. Marles acknowledged there would be "capability challenges" without an operational Taipan fleet and as defence waits for the delivery of more Black Hawks.

Persons: Dinuka, Richard Marles, Lockheed Martin, Marles, Italy's Leonardo, Leonardo, Renju Jose, Jamie Freed Organizations: Australian Navy, Australian Landing Helicopter, REUTERS, Rights, United States, Black Hawk, Lockheed, Black Hawks, Australian, Airbus, ABC, Thomson Locations: Canberra, Colombo, Sri Lanka, Australia, France, Norway, Queensland, United States, Sydney

☆ How would a government shutdown affect US foreign policy?
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +3 min

Some foreign aid programs could also run out of money or have trouble performing their missions. "It would make it harder to do everything that we do to try to advance national security." Contracts awarded before the shutdown would continue, and the Pentagon could place new orders for supplies or services needed to protect national security. SPY AGENCIESThe Central Intelligence Agencies and other intelligence agencies have not publicly shared their plans for a shutdown. But in the past, staff involved in operations, analysis and cyber activities have been deemed critical to national security and ordered to keep working, possibly without pay.

Persons: Joshua Roberts, Biden, Antony Blinken, Lockheed Martin, Patricia Zengerle, Daphne Psaledakis, Mike Stone, Don Durfee, Jonathan Oatis Organizations: REUTERS, Rights, STATE DEPARTMENT U.S, Department of State, State Department, Pentagon, Boeing, Lockheed, Raytheon, National Nuclear Security Administration, Central Intelligence Agencies, Thomson Locations: Washington , U.S, Russia, Ukraine, States, China, U.S

WASHINGTON, Sept 28 (Reuters) - The Senate Foreign Relations Committee's new chairman on Thursday said he would look at Turkey's $20 billion Lockheed Martin (LMT.N) F-16 fighter jet deal and that more issues than Sweden's ascension to NATO would affect the decision on lifting his predecessor's longstanding hold. Cardin said he had discussed Sweden's NATO accession with Turkish officials at a NATO ambassador's meeting on Wednesday. Leaders of the U.S. Senate and House foreign affairs panels review every major foreign arms sale. "Menendez being out of the picture is an advantage," Erdogan was quoted as telling reporters by Turkish media. The top Republican on the Senate panel, Senator Jim Risch, has put a hold on arms sales to Hungary over the issue.

Persons: Lockheed Martin, Ben Cardin, Cardin, Bob Menendez, Tayyip Erdogan's, Menendez, Nadine Menendez, Erdogan, Sweden's, Jim Risch, Patricia Zengerle, Jonathan Oatis Organizations: Relations, Lockheed, Turkish, NATO, U.S . Senate, Kurdistan Workers Party, Republican, Thomson Locations: NATO, Sweden, Greece, Ankara, Stockholm, Turkey, Finland, Russia, Ukraine, Hungary, Budapest

KAOHSIUNG, Taiwan, Sept 28 (Reuters) - Taiwan unveiled its first domestically developed submarine on Thursday, a major step in a years-long project aimed at strengthening the island's defence and deterrence against the Chinese navy. Taiwan, which China claims as its own territory, has made the indigenous submarine program a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert its sovereignty. "In the past, a domestically developed submarine was considered an impossible task. The programme has drawn on expertise and technology from several countries - a breakthrough for diplomatically isolated Taiwan. Taiwan hopes to deploy at least two such domestically developed submarines by 2027, and possibly equip later models with missiles, the head of the program said this month.

Persons: Tsai Ing, Tsai, Lockheed Martin, Admiral Huang Shu, Carlos Garcia, Walid Berrazeg, Sarah Wu, Ben Blanchard Organizations: Lockheed, Lockheed Martin Corp, Thomson Locations: KAOHSIUNG, Taiwan, China, Beijing, Kaohsiung

☆ Government shutdown doesn't halt, but hinders Pentagon work
▼ + stars: | 2023-09-28 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

Troop pay is delayed during a government shutdown, but Singh said housing and bills are not. For example, Ukrainian "F-16 pilot training would continue," said Chris Sherwood a Pentagon spokesman. However, some "delivery of defense articles, services, and/or military education" could be paused, Sherwood said. "Under a shutdown, the government stops payments on invoices not yet paid for costs incurred before the shutdown," the letter said. NDIA and PSC represent companies like Lockheed Martin Corp (LMT.N), L3Harris Technologies Inc (LHX.N), Bank Of America Corp (BAC.N) and Oracle Corp (ORCL.N).

Persons: Carlos Barria, Sabrina Singh, Singh, Chris Sherwood, Sherwood, David Norquist, David Berteau, Mike Stone, Alistair Bell Organizations: Pentagon, REUTERS, Rights, Department of Defense, Democratic, U.S, Senate, National Defense Industrial Association, Professional Services Council, Congressional, NDIA, PSC, Lockheed Martin Corp, L3Harris Technologies, Of America Corp, Oracle Corp, Thomson Locations: Arlington , Virginia, U.S, Ukraine, Washington

☆ Erdogan sees advantage in U.S. senator Menendez's troubles -media
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Turkey's President Tayyip Erdogan addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsANKARA, Sept 26 (Reuters) - President Tayyip Erdogan said Turkey needs to turn the legal troubles of U.S. Senator Bob Menendez, a long-time critic of his government, into opportunity for its requested purchase of F-16 U.S. fighter jets, Turkish media said on Tuesday. Erdogan raised Turkey's pending ratification of Sweden's NATO membership bid and said the White House must also fulfil its promise on the F-16s. The Biden administration is linking F-16 fighter jet sales to Turkey with Ankara's ratification of Sweden's NATO membership bid, Erdogan also said.

Persons: Tayyip Erdogan, Brendan McDermid, Bob Menendez, Menendez, Erdogan, Turkey's, Joe Biden's, Biden, Huseyin Hayatsever, Jonathan Spicer Organizations: General Assembly, REUTERS, Rights, Democrat, Senate Foreign Relations, NATO, Turkey, Lockheed Martin Corp, Thomson Locations: New York City, U.S, Rights ANKARA, Turkey, Jersey

☆ Chipmaker GlobalFoundries seeks funding under CHIPS Act
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

A signage at U.S. chipmaker GlobalFoundries' new fabrication plant in Singapore, September 12, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsSept 25 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and modernize its local manufacturing facilities. The CHIPS and Science Act provides a total of $52.7 billion in subsidies for U.S. semiconductor production, research and workforce development. It also includes a 25% investment tax credit for building chip plants estimated to be worth $24 billion. Malta, New York-based GlobalFoundries makes wireless connectivity chips used in mobile phones, WiFi routers and radio towers.

Persons: chipmaker, Edgar Su, Steven Grasso, Lockheed Martin, Jaspreet Singh, Shilpi Majumdar Organizations: REUTERS, U.S . Commerce Department, Lockheed, Thomson Locations: Singapore, U.S, Malta , New York, Bengaluru

Taiwan President Tsai Ing-wen attends a ceremony for the start of construction of a new submarine fleet in Kaohsiung, Taiwan, November 24, 2020. Admiral Huang Shu-kuang, Tsai's security adviser, who is leading the program, said a fleet of 10 submarines - which includes two Dutch-made submarines commissioned in the 1980s - will make it harder for the Chinese navy to project power into the Pacific. He called the submarines a "strategic deterrent" to Chinese warships crossing the Miyako Strait near southwestern Japan or the Bashi Channel that separates Taiwan from the Philippines. "If Taiwan is taken, Japan will definitely not be safe, South Korea will definitely not be safe." Eastern Taiwan is where planners have long envisioned the island's military regrouping and preserving its forces during a conflict.

Persons: Tsai Ing, Ann Wang, Admiral Huang Shu, Huang, Lockheed Martin, Chieh Chung, doesn't, Britain's, Yimou Lee, Gerry Doyle Organizations: REUTERS, Rights, Reuters, Lockheed, Lockheed Martin Corp, U.S ., Shandong, Foundation, Taiwan, Britain's Royal Navy, Thomson Locations: Taiwan, Kaohsiung, Rights TAIPEI, China, Beijing, U.S, Japan, Philippines, Borneo, South Korea, Eastern Taiwan, United States, India, Britain, Gibraltar

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