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Kyiv, Ukraine CNN —As the US prepares to transfer significant military aid to Ukraine following the Senate passing funding legislation worth $61 billion, reports from eastern Ukraine continue to highlight Kyiv’s sliding fortunes on the battlefield. Charly Triballeau/AFP/Getty ImagesUkrainian soldiers on the front lines have spoken of being badly outgunned by Russian forces. A Ukrainian military blogger, Bohdan Myroshnykov, wrote, “In Novobakhmutivka, the enemy made progress in the village, advancing up to 400 meters in depth. Meanwhile, around Chasiv Yar, about 40 kilometers to the north, both Ukrainian and Russian reports suggest Ukraine has succeeded in stopping Russian advances, at least for the moment. Oleksandr Ratushniak/Reuters“In the Chasiv Yar direction, the offensive of the Russian forces ‘stalled’ on the eastern outskirts,” a Russian military blogger, Wargonzo, reports, though fierce fighting continues, the site adds.
Persons: DeepState –, , Biden, Joe Biden, Charly Triballeau, Volodymyr Zelensky, Bohdan Myroshnykov, , DeepState, Ukraine’s Eastern Command –, Oleksandr Ratushniak, , Ukraine’s DeepState, Oleksandr Syrskyi, Vladimir Putin, Chasiv Yar Organizations: Ukraine CNN —, Russian, Wednesday, Senate, Scranton Army, Getty, 100th, Ukraine’s Eastern Command, CNN, Reuters, 92nd Brigade, Nazi Locations: Kyiv, Ukraine, Ocheretyne, Ukrainian, Avdiivka, Israel, Taiwan, Scranton, Scranton , Pennsylvania, AFP, Russian, Russia, Novobakhmutivka, Chasiv Yar, Donetsk region, , Ivanivske, Bakhmut, Nazi Germany
He went on to list the names and performances of defense-focused funds including the iShares U.S. Aerospace & Defense ETF (ITA) and the SPDR S&P Aerospace & Defense ETF (XAR) . As the latest geopolitical conflict escalates, these investors are ignoring defense stocks despite the market axiom that those holdings tend to perform better in times of war. Indeed, the iShares U.S. Aerospace & Defense ETF popped more than 4% in the week following Hamas' Oct. 7 attack and went on to finish October up about 3.7%. Ignoring market wisdomRetail traders poured into defense stocks and funds in the aftermath of the invasion, but inflows have since cooled, according to Vanda Research. But not everyone sees the intensifying conflict as a moment to invest in defense stocks.
Persons: Kenneth Suna, Suna, Vanda, Sow, Andrew Behar, it's, Behar, Hannah Beier, Jason Aiken Organizations: Raytheon, U.S . Aerospace & Defense ETF, P Aerospace & Defense ETF, D.C, CNBC, U.S . Aerospace & Defense, Vanda Research . Defense, Trust, Scranton Army, Plant, Getty, General, Funds Locations: Israel, U.S, Washington, Scranton, Scranton , Pennsylvania, Russia, Ukraine
The US is ramping up its artillery production to continue aiding Ukraine and resupply its stockpile. A Pentagon official said the US aims to be producing 100,000 155mm artillery shells by 2025. "But every country struggles with munitions production as war goes on beyond a few months." Western officials, meanwhile, believe Russia is on track to manufacture two million artillery shells a year, the Times reported this week. A Ukrainian soldier carries 155mm shells for M777 artillery at a artillery position in the Donetsk Oblast on August 6, 2023.
Persons: Ukraine's, Mark Cancian, Bill LaPlante, that's, LaPlante, Diego Herrera Carcedo, Technology Douglas Bush, Bush, Cancian, Washington, Biden, sooth, Matt Rourke Organizations: Pentagon, Service, Russia, Artillery, Estonian, New York Times, US Marine Corps, Center for Strategic, Studies, Center, New, New American Security, Anadolu Agency, Getty, US Army, Army, Acquisition, Logistics, Technology, Ukraine, Times, White, Scranton Army, AP Locations: Ukraine, Russia, Wall, Silicon, Washington, Europe, New American, Donetsk Oblast, Kyiv, Ukrainian, Scranton, Pa
The U.S. military has sought to boost production at facilities such as the Scranton Army Ammunition Plant in Pennsylvania. Photo: Hannah Beier/Getty ImagesRussia’s invasion of Ukraine has turbocharged demand for weapons. Now arms makers face the challenge of hiring thousands of skilled workers to capitalize on an influx of orders. Defense companies in the U.S. and Europe are working through record order books after Western governments increased spending in recent years amid rising geopolitical tensions. The war in Ukraine is now further fueling growth, partly as the U.S. and its allies begin to replace weapons they have sent to Kyiv.
[1/2] 155mm artillery shells are seen during the manufacturing process at the Scranton Army Ammunition Plant in Scranton, Pennsylvania, U.S., February 16, 2023. REUTERS/Brendan McDermidBRUSSELS, March 17 (Reuters) - A number of European Union countries are expected to sign a "Project Arrangement" on joint procurement of 155 mm artillery shells for Ukraine on Monday, a senior EU official said on Friday. "(The Project Arrangement) is the basis for the European Defense Agency and its member states to move on, ... basically the terms of reference that are the legal basis to move on." The official could not confirm how many countries would sign, but said they were "quite confident to see many signatures on Monday", adding the project was open to all EU members plus Norway and countries would be able to join it at any time. Reporting by Andrew Gray and Bart Meijer; Writing by Charlotte Van Campenhout; Editing by Andrew Cawthorne and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Companies added jobs at a brisk pace in February as the U.S. labor market kept humming, payroll services firm ADP reported Wednesday. "There is a tradeoff in the labor market right now," said ADP's chief economist, Nela Richardson. By sector, leisure and hospitality led job growth with 83,000 additions. The ADP report serves as a precursor to the more closely followed nonfarm payrolls report the Labor Department is schedule to release Friday. For instance, the Labor Department estimated payrolls rose 517,000 in January, more than four times what ADP reported.
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