DIRS.INFO The most relevant business & tech news

☆ Goldman warns these defense stocks could take a hit from Trump spending cuts
▼ + stars: | 2024-11-19 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Shares of some aerospace and defense companies could fall under added pressure from President-elect Donald Trump's reduced government spending plans. Goldman is forecasting that the U.S. defense budget will soon flatten out and then decline, partly given that it's at an all-time high and that current geopolitical conflicts could potentially be met with a resolution. "Defense spending cycles up and down over time, and can be vulnerable to efforts to reduce total government spending." Poponak noted that although Trump has expressed broad support for the U.S. military and Department of Defense, any cost-cutting effort could still be a blow for the national defense budget. "Lower defense spending would flow to government IT to some degree.

Persons: Donald Trump's, Goldman, Government Effiency, wouldn't, Noah Poponak, Poponak, Trump, Lockheed Martin, Northrop, Huntington Ingalls, Booz Allen Hamilton Organizations: Government, Department of Defense, DoD, U.S ., Lockheed, Northrop Grumman, L3Harris Technologies, Huntington Ingalls Industries, Northrop, Leidos Holdings, U.S . Aerospace & Defense, Invesco Aerospace & Defense Locations: U.S

☆ Weak shipbuilding could be the US Navy's Achilles' heel in a war with China
▼ + stars: | 2024-11-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +14 min

The US Navy faces critical shipbuilding problems that could hobble it in a war with China. China's commercial and military shipbuilding capacity overshadows the rest of the world. China has pursued shipbuilding dominance over the past few years, building a massive naval fleet. Long-term investments and solutions are needed to fix the US Navy's shipbuilding problems. US Navy photo by Mass Communication Specialist Seaman Erwinjacob Miciano/ReleasedThe US Navy's shipbuilding woes aren't new, and there simply isn't a quick fix.

Persons: Shelby Oakley, Oakley, Paula Zorensky, Gerald R, Petty, Alex Smedegard, Bryan Clark, who's, Mackenzie Eaglen, Seaman Wesley J, Bryan McGrath, Matthew Funaiole, McGrath, Seaman Erwinjacob Miciano, Lisa Franchetti, Franchetti, John Harris, Campbell Organizations: US Navy, US, Getty Images China, Newport News Daily Press, TNS, Navy, Huntington Ingalls Industries, General Dynamics, Marinette Marine Corporation, of, Pentagon, USS Enterprise, Getty Images Navy, Shipbuilders, GAO, Shelby, Norfolk Naval Shipyard Shipbuilders, Shipbuilders Council of America, Ford, Columbia, Hudson Institute, American Enterprise Institute, Communication, Jiangnan Shipyard, Shipyards, China State Shipbuilding Corporation, China Power, Center for Strategic, International Studies, People's Liberation Army, of Naval Intelligence, Technological, Department of Defense, Pacific . US Locations: China, US Navy, Virginia, Columbia, Shelby West, Jiangnan, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Taiwan, Pacific, Japan, South Korea

☆ US attack submarine crew picks up top award for 'demanding' spy operations
▼ + stars: | 2024-10-24 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

The USS Washington submarine was awarded the Presidential Unit Citation after a series of secret intel operations. The PUC is the highest unit award in the US Department of Defense. AdvertisementA US attack submarine crew was honored with a top award after running "demanding" secret intelligence-gathering missions. The crew's recent deployment involved "three demanding missions vital to national security that resulted in obtaining sensitive and unique intelligence information," the Navy said. The Virginia-class fast-attack submarine USS Indiana surfaces in the Beaufort Sea during Operation Ice Camp.

Persons: —, Timothy Poe, Joe Biden, Ace Foster, Rob Gaucher Organizations: USS, intel, PUC, US Department of Defense, Service, Sixth, Submarine Forces Atlantic, Navy, Camp, US Navy, Ace, Department of Defense, Submarine Forces, Huntington Ingalls Industries, General Dynamics ' Locations: USS Washington, Virginia, Russia, Europe, Africa, Washington, Indiana, Beaufort, III Virginia

☆ US Navy's new submarines are 'in crisis' as costs balloon by $17 billion, lawmaker says
▼ + stars: | 2024-09-20 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

The news comes after a major report earlier this year revealed the Navy's biggest projects, including new Virginia-class submarines, were facing severe delays of up to three years. Absent today's intervention, I have zero confidence that Navy shipbuilding will get back on track." The Navy attributed shipbuilding delays across its top programs to COVID-19's impact on the workforce and supply chain. "Somehow, the Navy continues to assert that commitments to INDOPACOM and our AUKUS partners remain on track" despite Virginia-class delays, he said. Virginia-class submarines are considered vital to the US' role in deterring and, if necessary, fighting China.

Persons: —, Ken Calvert, Calvert, Carlos Del Toro, Christopher Kastner, Politico, Del Toro Organizations: Service, Business, Navy, California Republican, General Dynamics Corp, Huntington Ingalls Industries, U.S . Navy, Shipyard, White, DOD, Pentagon, US Navy Public Affairs, Columbia, US Navy, US, Royal Australian Navy Locations: Virginia, California, Columbia, China, Australia

☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ Watch the new US Navy supercarrier USS John F. Kennedy catapult heavy cars into a river to make sure the warship can handle planes
▼ + stars: | 2024-02-26 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

A new video shows the testing of the aircraft launch system for the Navy's new supercarrier. The USS John F. Kennedy is the Navy's second Ford-class aircraft carrier. Our #NewportNewsShipbuilding division has started topside #EMALS testing on the aircraft carrier John F. Kennedy (#CVN79). A T-45C Goshawk training aircraft attached to Training Air Wing (TAW) 1, lands aboard the aircraft carrier USS Gerald R. Ford (CVN 78) during flight operations, Sept. 12, 2020. AdvertisementIn addition to the Kennedy, two other Ford-class aircraft carriers, the Enterprise and the Doris Miller, are currently under construction at Newport News.

Persons: USS John F, Kennedy, —, James, John F, 9n3OhRDXAd, HII, Gerald R, Seaman Anton Wendler, Ford, Doris Miller Organizations: USS, Ford, aircraft, Service, Hornets, Huntington Ingalls Industries, Newport News Shipbuilding, US Navy, Training Air, U.S . Navy, Communication, Navy, Enterprise, Newport News Locations: Virginia

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.

Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado

☆ What Kevin McCarthy's ousting as House Speaker means for markets
▼ + stars: | 2023-10-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The ousting of Republican Kevin McCarthy as House Speaker may not have an immediate impact on Wall Street, but it raises the likelihood of a government shutdown in the fourth quarter — which could inject more volatility into an already rattled market. Now, Congress also grapples with deciding its next speaker to lead the House. "The immediate market impact of McCarthy's ouster is relatively limited as the government is funded through November 17," said BTIG's Isaac Boltansky. "The near-term concern is that the House's paralysis will further complicate the already complicated calculus surrounding the forthcoming funding fight." Impact on the defense sector The removal of McCarthy could have an impact on the defense sector.

Persons: Kevin McCarthy, Goldman Sachs, Jan Hatzius, Ray Dalio, Isaac Boltansky, McCarthy, Scott Deuschle, Lockheed Martin, Northrop Grumman, Deuschle, — CNBC's Michael Bloom Organizations: Deutsche Bank, Lockheed, General Dynamics, Huntington Ingalls Industries Locations: Ukraine

☆ JPMorgan upgrades this military shipbuilder, says recent decline offers a buying opportunity
▼ + stars: | 2023-09-28 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It's time to buy U.S. military shipbuilder Huntington Ingalls Industries , JPMorgan said. The bank upgraded the military shipbuilding company to overweight from neutral in a Thursday note, although lowered its price target to $247 from $250. Huntington Ingalls shares have struggled this quarter, losing 10.7% in that time. However, analyst Seth Seifman sees this as a buying opportunity for investors. Analysts are split on the stock, with just five rating it a buy or a strong buy, Refinitiv data shows.

Persons: Huntington, Huntington Ingalls, Seth Seifman, Seifman, — CNBC's Michael Bloom Organizations: Huntington Ingalls Industries, JPMorgan, Defense, Navy, Navy Procurement

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Amazon, GE, Sunrun, Micron, Microsoft & more
▼ + stars: | 2023-09-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday.

Persons: BTIG, Evercore, Teradata, Sunrun, it's, Ray Ban Smart, Needham, Wolfe, Bernstein, TSCO, Davidson's, Apple, Goldman Sachs, Goldman, Wendy's Organizations: Citi, UBS, Bank of America, Meta, Boeing, Davidson, Tractor Supply, JPMorgan, Huntington Ingalls Industries, Defense, Microsoft, Apple, Services, Digital Investment Management, Deutsche Bank, General Electric, Deutsche, GE, Emerson Electric Deutsche, Micron Locations: financials

☆ US Navy stealth destroyer Zumwalt's deck guns are basically useless, but it's on its way to get new hypersonic missile launchers
▼ + stars: | 2023-08-04 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +4 min

Destroyer USS Zumwalt has long had problems with its main deck guns, which don't have any ammunition. The Zumwalt is changing homeports to receive upgrades including a new hypersonic missile system. US Navy guided-missile destroyer USS Zumwalt arrives in Yokosuka for a port visit, September 26, 2022. Unlike China and Russia, the US does not currently have any hypersonic weapons systems deployed. True hypersonic weapons pose a new and potentially unstoppable threat due to their ability to maneuver unpredictably at these speeds.

Persons: Zumwalt, Seaman Darren Cordoviz, Michael Monsoor, Lyndon, Johnson Organizations: Service, US Navy, Ingalls Shipbuilding, Huntington Ingalls Industries, Navy, Systems, US, Army, CPS Locations: Wall, Silicon, San Diego , California, Pascagoula , Mississippi, Ingalls, Yokosuka, Hawaii, China, Russia, Virginia

REUTERS/Jonathan Bachman/File PhotoHOUSTON, July 21 (Reuters) - A U.S. court set Oct. 23 as the start date for a long-expected auction of shares in Venezuela-owned refiner Citgo Petroleum's parent to pay creditors with judgments against the South American nation. U.S. Judge Leonard Stark in Delaware this week accepted a recommendation by a court official in charge of organizing the auction. Proceeds from any sale of PDV Holding shares would be used to pay off creditors previously cleared by the court. Any sale of Citgo without the participation of Venezuela would be "hurtful," Pedro Tellechea, Venezuela's oil minister, said on Friday. "It's not a PDVSA asset.

Persons: Jonathan Bachman, Judge Leonard Stark, PDV, Pedro Tellechea, Horacio Medina, Stark, Venezuela's, Hugo Chavez, PDVSA, Marianna Parraga, Gary McWilliams, Richard Chang, Grant McCool Organizations: Citgo Petroleum, REUTERS, South, Petróleos, PDV, U.S . Treasury Department, PDVSA, Crystallex, ConocoPhillips, Siemens Energy, Tree Investments, Inc, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, Thomson Locations: U.S, Stowell , Texas, Venezuela, South American, PDV, Delaware

A negotiating team representing the South American country has held settlement talks with some of those creditors and holders of defaulted PDVSA bonds. The U.S. has shielded Houston-based Citgo from creditors since the company in 2019 severed ties with its ultimate parent, Venezuela's state oil firm Petroleos de Venezuela (PDVSA.UL), which is controlled by President Nicolas Maduro. Horacio Medina, chief of the board that supervises Citgo, did not immediately reply to a request for comment. A sales process for Citgo shares that could begin as soon as September is under consideration by a U.S. judge in Delaware. Venezuela this month lost a separate appeal trying to block new creditors from attaching to the Delaware case.

Persons: Nicolas Maduro, Horacio Medina, Citgo, PDVSA's, PDVSA, Katherine Polk Failla, Marianna Parraga, Gary McWilliams, Matthew Lewis Organizations: U.S . Treasury Department, Treasury, Crystallex International, ConocoPhillips, Siemens Energy, Tree Investments, U.S, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, New, Thomson Locations: Venezuela, Petroleum, U.S, Houston, Petroleos, Delaware, New York, Manhattan

July 7 (Reuters) - A U.S. court of appeals on Friday rejected Venezuela's bid to prevent six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. The decision allows the six to move ahead with their about $3 billion in combined claims against Venezuela state oil firm PDVSA in a Delaware federal court. That court is in the initial steps of preparing an auction as soon as September. It also declined to consider PDVSA's request to bar the attachments from the district court case. Reporting by Gary McWilliams; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Venezuela's, Crystallex, Gary McWilliams, Daniel Wallis Organizations: Petroleum, Huntington Ingalls Industries, ACL1 Investments, Koch Minerals, Rusoro Mining, PDV, Thomson Locations: Venezuela, Delaware

The debt deal capped national security spending in fiscal 2024 at $886 billion, which is what U.S. President Joe Biden requested. Ordinarily, some of the $16 billion worth of unfunded priorities would get tacked on, as well as billions worth of lawmaker initiatives. In recent years Congress has increased defense spending by more than any president requests, generally by tens of billions of dollars. This year, the debt ceiling deal could make that more difficult. That Ukraine supplemental spending request is now expected to include a broader range of military spending and could include some items and pet projects left behind.

Persons: Joe Biden, Abrams, Lockheed Martin, Biden, Mackenzie Eaglen, Eaglen, Mike Stone, Patricia Zengerle, David Holmes Organizations: U.S, Department of Defense, General Dynamics, Lockheed, Huntington Ingalls Industries, Congressional, Pentagon, Congress, Democratic, Republican, American Enterprise Institute, Thomson Locations: Ukraine, Washington

HOUSTON, May 8 (Reuters) - A U.S. court of appeals has granted Venezuela a temporary stay preventing six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. The companies had won conditional attachments to a federal case in which the judge has approved a process to auction the shares to pay a $970 million judgment won by miner Crystallex. The six hold arbitration awards or judgments that total about $2.6 billion and wanted those awards to be included in the auction. The proposed auction, which could break up the seventh largest U.S. refiner to pay creditors, took a giant step forward last month with a greenlight from the U.S. Treasury. Washington has since recognized the opposition-led congress as the entity controlling the refining subsidiary, extending protection to prevent its breakup at the hands of Venezuela creditors.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ U.S. extends Citgo's protection from creditors for three months
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 19 (Reuters) - The U.S. on Wednesday extended for three months a license that protects Venezuela-owned oil refiner Citgo Petroleum (PDVSAC.UL) from creditors trying to seize its assets to recoup pending debts. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) extended the general license until July 20, according to the department's website. Washington has since 2019 recognized the opposition-led congress as the entity controlling the refining subsidiary, extending protection to prevent its breakup at the hands of Venezuela creditors. O-I Glass Inc (OI.N), Huntington Ingalls Industries (HII.N), ACL1 Investments, Rusoro Mining Ltd (RML.V) and Gold Reserve (GRZ.V) separately have won attachments contingent on obtaining U.S. Treasury approval to seize assets, or an end to the Treasury protection. ConocoPhillips (COP.N) separately has a claim against Venezuela valued at $1.29 billion over the nationalization of its oil assets in the country.

☆ PDVSA's supervising board to appeal new creditors' move to go after Citgo
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

HOUSTON, March 31 (Reuters) - A board that supervises Venezuela's overseas assets said it plans to file an appeal to a U.S. court's decision granting four firms the right to seize shares in one of the parent companies of Venezuela-owned U.S. refiner Citgo Petroleum. Other companies have sought to attach their own judgments to the case, leading to a feud this week among attorneys over priority. The decision by a U.S. judge in Delaware to approve the attachments is contingent on green light by the U.S. Treasury Department. An ad-hoc board created by Venezuela's National Assembly in 2019 to supervise PDVSA's foreign subsidiaries, especially Houston-based Citgo Petroleum, will oppose any conditioned auction, board's president Horacio Medina told Reuters. Reporting by Marianna Parraga and Gary McWilliams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ The scramble to rearm Ukraine is transforming NATO in a way that would've been hard without Putin's help
▼ + stars: | 2022-11-22 | by ( Rachel Nostrant | ) www.businessinsider.com time to read: +8 min

NATO countries have scrambled to rearm and resupply Ukraine as it fights off Russia's invasion. Troops from six NATO countries during a joint terminal attack controller training in Latvia on April 6. Germany has agreed to send some older hardware to countries that send their Soviet-made tanks and armored vehicles to Ukraine. Interoperability with weapons and alignment on tactics will also make it "veritably impossible for these countries to leave NATO," Banerjee added. "The weapons are from NATO, they're going to be from NATO, they will be back-built, and these components will be from NATO countries."

☆ How Tuesday's election will impact the stock market — Watch the 'Republican portfolio' names
▼ + stars: | 2022-11-08 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

There will be things about gridlock the market doesn't like," said Ed Mills, Washington policy analyst at Raymond James. Meanwhile, under a Republican president, the stock market on average gains 4.9% when Democrats control Congress, and the market gains 7.3% with a split Congress. Strategas Research says the stock market is signaling that Republicans may sweep the election . There are clear stock market winners from a Republican victory, at least in the House. Laperriere, in a note, wrote that tech, small cap and financial firms are most vulnerable to higher taxes and tougher regulations, and they could benefit from a Republican Congress.

☆ U.S. CFOs Ask Congress to Repeal Change to R&D Tax Rules
▼ + stars: | 2022-11-07 | by ( Jennifer Williams-Alvarez | In A Letter Finance Chiefs On The Change To R D Deductibility Tax Rules. | ) www.wsj.com time to read: +8 min

For decades, businesses were allowed to deduct certain R&D expenses straight away to reduce their taxable income. Tax deductions are subtractions from taxable income while tax credits get subtracted from the amount of tax owed. Over the course of this year, companies have been making estimated tax payments that incorporate the R&D change, tax attorneys said. On the agenda: Agreeing on funding the government to avoid a shutdown, aid for Ukraine, alongside potential changes to the treatment of R&D expenses. When it comes to a potential repeal or deferral related to R&D deductibility, timing is crucial, said Shelby Ford, a tax partner at Crowe LLP, a public accounting, consulting and technology firm.

Search resuls for: "Huntington Ingalls Industries"

23 mentions found