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Read previewA US Army general said the age of the towed artillery cannon may be coming to an end and suggested the prioritization of other, more mobile options. The general's comments on towed artillery, systems like the M777 howitzer, come as these weapons are being used in the war in Ukraine. Related stories"I personally believe that we have witnessed the end of the effectiveness of towed artillery: The future is not bright for towed artillery," Rainey said, according to Breaking Defense. US soldiers fire a M777 towed 155 mm howitzer during an exercise at Vilseck, Germany on Feb. 13, 2024. Drones, for instance, have dominated the skies and have easily targeted artillery systems and denied troops mobility and access to safely move pieces to new positions.
Persons: , James Rainey, Rainey, William Kuang, Charlie Battery, Savannah Smith, it's Organizations: Service, Army, Artillery, Business, Association of, United States Army's Global Force, US Army Futures Command, Breaking Defense, Spc, US Army, Defense, Cannon Artillery, Arkansas National Guard, 1st Battalion, 206th Field Artillery Regiment, Fort Chaffee, 119th Mobile Public Affairs, Kyiv Locations: Ukraine, Kyiv, Vilseck, Germany, Russia
AdvertisementThe two-week JPMRC Alaska training exercise involved over 8,000 troops from the 11th Airborne Division, as well as international allies and partners. Brandon VasquezBack in 2021, the US Army released its new strategy on regaining Arctic dominance, leading to the reorganization of its Alaskan forces and priorities. AdvertisementAll Arctic nations are keeping an eye on what could be seen as increased access to energy, minerals, and resources in the Arctic. AdvertisementU.S. Army Soldiers assigned to the 11th Airborne Division patrol on snow machines during the Joint Pacific Multinational Readiness Center 24-02 exercise at Donnelly Training Area, Alaska, Feb. 17, 2024. For that reason, the Army appears to be encouraging its Arctic soldiers to be creative and able to adapt to whatever conditions or situations they might encounter.
Persons: , Col, Sean Lucas, JPMRC, Brandon Vasquez, Spc.Wyatt Moore, Abreanna Goodrich, China —, I've, Zachary Burns, Sammantha Ohm, Joseph Gaskin Organizations: US, Army, Service, US Army Pacific's, Pacific Multinational Readiness Center, Business, 11th Airborne Division, U.S ., 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, U.S, US Army, U.S . Army, 3rd Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, 11th Airborne, Donnelly Training, Public Affairs Detachment, National Intelligence, Spc, Department of Defense, Army Spc, 5th Squadron, 1st Calvary Regiment, Delta Co Locations: Russia, China, Fairbanks , Alaska, Alaska, Hawaii, U.S, Utqiagvik, Soviet Union, Canada, Denmark, Russian, JPMRC
US Army paratroopers jumped into Arctic terrain at an exercise in Alaska last month. AdvertisementIn the skies above Alaska, US Army paratroopers, loaded with heavy gear, take the plunge out of a perfectly fine airplane into freezing air temperatures and whipping Arctic winds. The experience is quite intense, troops told Business Insider, an adrenaline rush only heightened by doing it in the Arctic environment. Abreanna GoodrichLast month, US Army Pacific hosted a Joint Pacific Multinational Rotation Center training event near Fairbanks, Alaska. Paratroopers with 2nd Infantry Brigade Combat Team (Airborne), 11th Airborne Division, stage onboard a Boeing C-17 Globemaster III prior to conducting an airborne operation in Donnelly Training Area, Delta Junction, AK, Feb. 8, 2024.
Persons: , Abreanna Goodrich, USARPAC, Molly Treece, Charles A, Flynn, Derek Dion, you've, Donte Smith, Natalie Doan Smith, Spc.Wyatt Moore, Smith, Natalie Doan, David Hanson, it's Organizations: Army, Service, US Army, Business, U.S . Army, 3rd Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, 11th Airborne Division, Pacific Multinational Readiness, Donnelly Training, U.S, Spc, US Army Pacific, Multinational Rotation Center, Boeing, Delta Junction, U.S . Air Force, 36th Airlift Squadron, Yokota Air Base, Joint Base Elmendorf, . Air Force, Public Affairs, Paratroopers, U.S . Army 2nd Infantry Brigade Combat Team, Public, Public Affairs Detachment Paratroopers, 11th Airborne Locations: Alaska, Fairbanks , Alaska, Hawaii, Delta, AK, China, Russia, North Korea, Wainwright, U.S, Japan, Richardson , Alaska
Read previewDeep in the Arctic, US troops are training to conduct difficult and high-stress artillery operations in challenging cold-weather conditions. The challenges, soldiers told Business Insider, come from the freezing temperatures, harsh weather, and unpredictable ground conditions. "There's a lot more than goes into it, especially in the Arctic environment, than the rest of the world," Sgt. Soldiers with 2nd Battalion, 11th Field Artillery, 25th Infantry Division work with M119 Howitzers to enhance their basic artillery skills on Schofield Barracks, Hawaii, June 14, 2020. Troops are being proactive rather than reactive, they told BI, looking for new or alternative firing positions in real time.
Persons: , Zachary, Paige Behringer, Brandon Vasquez USARPAC, Charles A, Flynn, Abreanna Goodrich, Poole, Timothy Crumpler, Mike Godinez, Martinez, they're, it's, Zachary Tousignant, Stephanie Snyder It's, Tousignant Organizations: Service, Business, Zachary Poole, Artillery, Army, Pacific Multinational Readiness Center, 11th Airborne Division, 2nd Battalion, 15th Field Artillery Regiment, 2nd Brigade Combat Team, Division, Fort Drum , New York . U.S, Staff, U.S, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, US Army, BI, U.S . Army, Donnelly Training, Spc, U.S . Army Spc, Co, Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, Joint Pacific Multinational Readiness, Martinez Soldiers, 11th Field Artillery, 25th Infantry Division, . Troops Locations: Fairbanks , Alaska, Fort Drum , New York, Utqiagvik, Alaska, China, Russia, North Korea, U.S, Hawaii, Ukraine
The US Army's new JPMRC training rotation in Alaska prepares soldiers to fight in frigid conditions. Many skills related to Arctic combat had atrophied, generals said. On the flip side, JPMRC also does an annual rotation in Hawaii, training soldiers to fight in the wet, humid jungle. US Army Alaska officially became the 11th Airborne Division, a newly reactivated unit, with the focus on Pacific and Arctic combat. The general told reporters US Army Alaska had "sort of lost the Arctic ethos" because of its focus on counterinsurgency in the Middle East.
Persons: , USARPAC, Elijah Magaña, Brian S, Eifler, JPMRC, Charles Flynn, Flynn, Brandon Vasquez, Eilfer Organizations: US, Army, Service, US Army, Pacific Multinational Readiness Center, 11th Airborne Division, U.S, 1st Battalion, 5th Infantry Regiment, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, Donnelly Training, Troops, U.S . Army, US Army Alaska, The Army Locations: Alaska, Fairbanks , Alaska, Iraq, Afghanistan, Hawaii, Pacific, China, U.S, Utqiagvik, Russia
This story is available exclusively to Business Insider subscribers. Out on the snow-covered Alaskan tundra, US Army Pacific is pushing its soldiers to prepare to fight in subzero temperatures and hostile, unpredictable environments. "It's a harsh environment," Maj. Gen. Brian S. Eifler told Business Insider in an in-person interview at Fort Wainwright in Fairbanks. Some told Business Insider the Arctic was the most difficult environment to fight in, while others noted it took a specific type of mindset to survive there, let alone excel. Maj. Joseph Gaskin told Business Insider, explaining that "we don't have all the answers for this environment."
Persons: , USARPAC, Sammantha Ohm, Abreanna Goodrich, Snow, Maj, Brian S, Eifler, Col, Sean Lucas, Elijah Magaña JPMRC, Charles A, Flynn, USARPAC's, it's, Michael Sword, Joseph Gaskin, Lucas Organizations: Service, US Army, Business, Army, Pacific Multinational Readiness Center, BI, US, 11th Airborne Division, Troops, U.S . Army Spc, 5th Squadron, 1st Calvary Regiment, Delta Co, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, Donnelly Training, U.S, Spc, 3rd Battalion, 509th Infantry Regiment, 2nd Infantry Brigade Combat Team, Pentagon, Pacific Command, U.S . Army, 11th Airborne Locations: Fairbanks , Alaska, Alaska, Wainwright, Fairbanks, Hawaii, China, Russia, North Korea
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementU.S. Army Gen. Charles Flynn, Commander of the U.S. Army Pacific, speaks with soldiers from the 1st Infantry Brigade Combat Team, 11th Airborne Division, during Joint Pacific Multinational Readiness Center 24-02 at Donnelly Training Area, Alaska, Feb. 15, 2024. This month, US Army Pacific conducted its JPMRC training rotation in Alaska, where thousands of troops are trained to wage war in frigid, Arctic conditions. The Joint Pacific Multinational Readiness Center also does a training rotation in Hawaii, where troops conduct exercises in the jungle. That training is also conducted with a host of US allies and partners in the Pacific.
Persons: , Army Pacific's, IPACC, Gideon Battis Gen, Charles A, Flynn, he's, Charles Flynn, Mike Godinez, Martinez, USARPAC, Joseph A, Ryan Organizations: Service, US Army, Pacific Multinational Readiness, Army, Business, Pentagon, Department of Defense, People's Liberation Army, Navy, Rocket Force, East China Seas, Combat, US Army Pacific, U.S . Army Pacific, 1st Infantry Brigade Combat Team, Airborne, Donnelly Training, U.S, Talisman, Talisman Sabre, Pacific Multinational Readiness Center Locations: China, Pacific, Australia, Alaska, Hawaii, People's Republic of China, United States, Philippines, Taiwan Strait, East, South Korea, Japan, Thailand
Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago
Caterpillar outperformed a lackluster industrial sector and kept pace with last year's strong market. While falling modestly in the next two sessions, Caterpillar rose 23.4% in 2023. Club name Caterpillar was last year's ninth-best performer of the 30 stocks that make up the Dow Jones Industrials Average , which gained 13.7% in 2023. The onslaught on federal spending was a prime reason the Club first initiated a position in Caterpillar back in January 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Dow Jones, it's, Jim Cramer, Jim Umpleby, Umpleby, Joe Biden's, Caterpillar's financials, Jim Cramer's, Jim, Drake Nickels, Smith Organizations: Caterpillar, Dow, CAT, Big Tech, Federal, Dealers, U.S, Joe Biden's Infrastructure Investment, Jobs, Law, Management, CNBC, CAL, Marine Corps, West, Marine Corps Base Locations: Camp Pendleton , California
UK's Petrofac looking to sell some assets; warns on cash flow
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +1 min
Dec 4 (Reuters) - Oilfield services firm Petrofac Ltd (PFC.L) said on Monday it was in discussions over the sale of its non-core assets and that it will no longer be able to meet its full-year guidance of "broadly neutral free cash flow" due to payment delays. "While the group has made progress in reaching contractual settlements and unwinding working capital, given delays in securing advance payment guarantees, it no longer expects to receive these advances before the year-end," Petrofac said in a statement. The company added it is exploring potential new financial options across all its classes of capital, and is actively engaged in discussions with investors to take a non-controlling position in certain other components of its business portfolio. Last week, shares in London-listed Petrofac dropped to a record low as analysts flagged concerns over its balance sheet due to payment delays. Reporting by Eva Mathews in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Petrofac, Eva Mathews, Nivedita Organizations: Petrofac, Thomson Locations: London, Bengaluru
Thomas C. Hawkins and 12 other Black soldiers who had been convicted of mutiny and other crimes during a riot in Houston earlier that year were hanged. On Monday, more than a century later, the Army said it had formally overturned their convictions and those of 97 other Black soldiers who were found guilty of crimes associated with the riot. The Army acknowledged that the 110 soldiers, 19 of whom were executed, had been convicted in military trials that were tainted by racial discrimination. The soldiers were members of the 3rd Battalion, 24th Infantry Regiment, an all-Black unit known as the Buffalo Soldiers. The Army said their records would be corrected, to the extent possible, to characterize their military service as “honorable.” They will be given proper gravestones acknowledging their Army service, and their descendants will be made eligible for benefits, officials said.
Persons: Thomas C, Hawkins, , Hawkins’s, Jason Holt, Holt, Private Hawkins, “ It’s Organizations: Army, 3rd Battalion, 24th Infantry Regiment, Buffalo Soldiers Locations: Houston
Special-operations forces have been a centerpiece of US military operations for two decades. US leaders should remember that special operators aren't suited for some tasks, one expert says. But in an era of strategic competition with China, there are some missions with no special-ops "easy button," according to David Ucko, a professor and expert on irregular warfare. First, the US special-operations community should consolidate its core strengths, particularly irregular warfare, which is "highly relevant" to strategic competition with China. US Navy SEALs train with Philippine Navy special-operations and Australian army special-operations troops in Palawan in April 2022.
Persons: David Ucko, David Devich, Ucko, US Army John F, Mario A, Ramirez, Jared N, Stavros Atlamazoglou Organizations: Service, US Special Forces, US Army, Royal United Services Institute, China, Air Force, RAF Mildenhall, US Air Force, Tech, Westin Warburton, Kennedy Special Warfare Center and School, State, Justice, Treasury, US Navy, Philippine Navy, US Marine Corps, Army Green Beret, Philippine National Police, Coast Guard, British SAS, Commonwealth, Group, SAS, Allies, Army Delta Force, Delta Force, US Army Rangers, US Army Green Berets, Psychological Operations, Boat Service, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: China, Wall, Silicon, SOF, Afghanistan's Ghazni, British, Russia, North Carolina, Palawan, Ukraine, Taiwan, North Africa, Iraq, Afghanistan, Johns
Ukraine has relied on its decades-old Gepard cannons to defend against Russian drones and missiles. A new video published Thursday by the Ukrainian military shows the anti-aircraft guns in action. Gepards, which were first developed in the 1960s, have proven to be very effective in downing these systems, as well as other low-altitude Russian drones and cruise missiles. Ukrainian servicemen operate a Gepard self-propelled anti-aircraft gun during their combat shift, amid Russia's attack on Ukraine, in Kyiv region, Ukraine June 30, 2023. REUTERS/Valentyn OgirenkoThe firepower boost for Ukraine's Gepards comes at a crucial moment.
Persons: Kyiv's Gepards, Vladimir Putin's, Jacob Bradford, Gepards, Switzerland —, Ukraine's Gepards, John Kirby, Biden Organizations: Service, Ukrainian Air Force, Factory, US Army, Rheinmetall AG, REUTERS, Ukraine's, National Security, NATO, Pentagon, High Mobility Artillery Rocket Systems Locations: Ukraine, Ukrainian, Wall, Silicon, Odesa, Moscow, Kyiv, Poland, Germany, Switzerland, German, Kyiv region, Russia
Ukraine has been using Cold War-era Gepard cannons to take down Russian drones and missiles. A German arms manufacturer plans to send 300,000 35mm rounds to Kyiv for its Gepards. Ukraine has relied heavily on its arsenal of Gepards provided by Germany to blast low-flying Russian drones and missiles out of the sky. It took existing 35mm ammunition from infantry fighting vehicles and modified it for the Gepard, which needed its fire control unit to recognize the new munitions. A Gepard gun successfully fired the ammunition in May, and Rheinmetall said on Sunday that "a first lot" of 35mm ammunition is now on its way to Ukraine.
Persons: Jacob Bradford One, SERGEI SUPINSKY Organizations: Service, NATO, Factory, Rheinmetall AG, Ukraine, US Army, Rheinmetall, Getty Locations: Ukraine, Wall, Silicon, Germany, Kyiv, Switzerland, German, Poland, Berlin, AFP, Moscow, Russia, Ukrainian
Master Tarrago said, "Matter of fact, I'm gonna be here tomorrow at such and such time to pick you up." I remember, Master Tarrago, he got some Ace bandages and wrapped it up and told me to go out there and fight. And I just feel like I'm really the best and then the PFC — that just came. I heard people laughing, making jokes like, "This guy says he's gonna win the whole thing. AdvertisementAdvertisementI've got a great support systemOne of my teachers that's great friends with Master Tarrago — he owns this facility.
Persons: Hauley Tillman, Tillman, Steven Tarrago, Tarrago, I'd, Kevin Kleeblatt, I've, Krav Maga, I'm, we've, — everybody's, it's, , he's, Joshua, He's, That's Ms, Brenda, Tarrago —, — he's, we're Organizations: Service, Miami - Dade Schools Police Department, PFC, PFC —, MMA, UFC Locations: Miami, Wall, Silicon, Liberty City, Twin Dragons, Spain
The tense environment has been punctuated by Russian threats of nuclear strikes against the West in response to NATO's military support for Ukraine. In a future war, the secretive drones the US has supplied to Ukraine — the Phoenix Ghost and Switchblade — could get a new mission: hunting Russian nukes in Kaliningrad. NATO forces could use loitering munitions — drones designed to linger near a target before crashing into and destroying it — for such a mission in Kaliningrad. "A focus should also be on the training of these forces with the Phoenix Ghost and Switchblade drones to assist them in their search and destroy efforts," DiRubbio writes. The US has provided a few hundred of those two drones to Ukraine, including both version of the Switchblade.
Persons: Vladimir Putin's, nukes, Vitaly Nevar, William DiRubbio, DiRubbio, Sarah Pysher, Stavros Atlamazoglou Organizations: Service, NATO, Russian, Ukraine, Baltic Fleet, REUTERS, US Air Force, Royal United Services Institute, Russian Defense Ministry, US Army's Delta Force, Special Air Service, Phoenix, Delta Force, Lejeune, US Marine Corps, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Russia, Ukraine, Kaliningrad, Europe, Wall, Silicon, Moscow, Russia's, Baltic, Vitaly Nevar Kaliningrad, Lithuania, Poland, British, Russian, North Carolina, Johns
The deadliest Marine sniper by number of confirmed kills is Chuck Mawhinney. The Vietnam War was a brutal conflict that left many of the service members who survived it with invisible scars. In Vietnam, Mawhinney "figured he'd never make it home alive," according to "The Sniper," a new book by Jim Lindsay written with input from the marksman. "Chuck" Mawhinney poses with a replica of the M40 sniper rifle he used during the Vietnam War. Another author of a series of books on snipers, Peter Senich, was able to use his connections with the Marine Corps archives to access Mawhinney's kill sheets showing 103 confirmed kills, officially making him the deadliest Marine sniper.
Persons: Chuck Mawhinney, wasn't, Charles, Chuck, Mawhinney, Jim Lindsay, wouldn't, George Gill, Gill, Charles B, Garrett White, Joseph Ward, Ward, who'd, Carlos Hathcock, Norm Chandler, Peter Senich, Jayson Jacoby, Lindsay, he'd Organizations: Service, US Marine Corps, Marine Corps, Forest Service, Marine, Baker City Herald, Associated Press Locations: Vietnam, Wall, Silicon, Oregon, Baker City
The latest package of military aid to Kyiv is all about replenishing their military's dwindling munitions. As such, the U.S. Department of Defense announced another package of military aid to Ukraine worth more than $2 billion. However, the Ukrainian air defense system took out the incoming munitions in short succession. The Ukrainian military continues to rely on its Western air defense systems to fend off incoming Russian missile and drone attacks. Western air defense systems were able to minimize the damage from the incoming Russian munitions.
Persons: , Jacob Bradford, military's Organizations: Service, Ukrainian, U.S . Department of Defense, Ukraine Worth, Air, Puma, Ukraine's Armed Forces, Pentagon, NATO, European Union, Forces, US Army, Jacob Bradford Military, Russian Locations: U.S, Ukraine, Poland, Russian, Kyiv, Ukrainian
The ‘Poor Souls’ Buried Without Their Fathers
  + stars: | 2023-05-29 | by ( Warren Kozak | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: The week's worst and best from Kim Strassel, Kyle Peterson and Dan Henninger. Images: AP/Zuma Press Composite: Mark KellyIf Iraq and Afghanistan were the instant-video wars and Vietnam was the television war, then World War II was the war of the black-and-white photograph. Newspapers and magazines brought stark images from the battlefields into American homes every day. Few were more gut-wrenching than one taken on Okinawa of a father, Col. Francis Fenton , praying over the body of his dead son, Pfc. Mike Fenton .
Allbirds is one of the brands I'm looking at. TikTok is looking more and more like a record label. When TikTok launched SoundOn, a song-distribution and artist-services platform, some in the industry wondered whether it was trying to muscle its way into record labels' territory. TikTok is now looking to hire people who will "identify, sign, and develop new artists" as well as "design live show and merchandise strategies for artists globally." Get a front-row seat to TikTok's transformation into a record label here.
But Switzerland, where Gepard ammo is made, is not allowing more of that ammo to be sent to Ukraine. The Gepard SPAAGA German Gepard anti-aircraft tank during an exercise near Munster in June 2007. German defense company Krauss-Maffei Wegmann built 570 Gepards between 1963 and 1980 — 420 for the German Bundeswehr, 95 for the Dutch army, and 55 for the Belgian army. Kay Nietfeld/picture alliance via Getty ImagesAfter being criticized for its reluctance to send heavy weaponry to Ukraine, the German government promised some 50 Gepards to Ukraine in April 2022. In February, German Defense Minister Boris Pistorius announced that German firm Rheinmetall would restart ammo production for the Gepard.
The blue-chip FTSE 100 (.FTSE) rose 0.5%, while the mid-cap FTSE 250 (.FTMC) lost 0.1% as of 0807 GMT. Oil and gas (.FTNMX601010) added 0.8% as crude prices gained against the dollar, lifting oil giants BP Plc (BP.L) and Shell Plc (SHEL.L) 0.6% and 1.0%, respectively. "The FTSE 100 is falling in line with the positive sentiment we saw at the start of the week, overlooking the China-Taiwan tensions," said Giles Coghlan, chief market analyst at HYCM. While concerns over a potential recession in the U.S. amid persistent inflation have weighed on sentiment recently, the FTSE 100 has been on a positive streak, helped by commodity stocks and defensives including pharmaceuticals. Shares of West Africa-focused oil producer Tullow Oil (TLW.L) slid 2.9% on Jefferies' downgrade to "underperform" from "hold."
US troops will gather in Georgia in April for the US Army's Best Ranger Competition. The Best Ranger competition is organized and run by the US Army in conjunction with the National Ranger Association. 101st Airborne Division soldiers compete in the Best Ranger Competition at Fort Benning in April 2022. David DumasThe Best Ranger competition typically starts strong with a 10-mile run followed by a swim event and an obstacle course. 10th Mountain Division soldiers complete a casualty evacuation lane during the Best Ranger Competition in April 2022.
The FTSE 100 (.FTSE) rose 0.5%, while the FTSE 250 (.FTMC) added 1.1% by 0841 GMT. With a day left for the end of the first quarter of the year, the FTSE 100 is on track for gains of 2%, while the mid-cap index is likely to have a muted end. Top performing sectors this quarter include the FTSE 350 aerospace and defence (.FTNMX502010), construction and materials (.FTNMX501010) and retailers (.FTNMX404010). The FTSE 350 Automobiles and Parts sector (.FTNMX401010) added 2.5% and is among top-performing sectors this quarter. Moonpig Group PLC (MOONM.L) added 17.9% after the online card retailer said it expects revenue to expand across 2024.
AMSTERDAM, March 30 (Reuters) - Dutch state-owned electric grid company TenneT (IPO-TTH.AS) has awarded 11 contracts worth a combined 23 billion euros ($25 billion) to build systems connecting wind farms in the North Sea to shore, it said on Thursday. The contracts are being awarded to consortia led by Hitachi Energy and by General Electric, and caused shares in Petrofac (PFC.L), part of the Hitachi group, to spike as much as 73%. TenneT is spending tens of billions of euros over the next decade to connect North Sea wind farms to the electric grid in Germany and the Netherlands. The other consortium of Hitachi Energy (6501.T) and London-based Petrofac Ltd said it had signed a 13 billion euro agreement for six projects. The Dutch and German governments are in talks for Germany to buy TenneT's German operations in light of the company's massive investment needs, estimated at over 100 billion euros in the coming decade.
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