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REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsBEIJING, Sept 15 (Reuters) - China will impose sanctions against U.S. aerospace and defence firms Northrop Grumman (NOC.N) and Lockheed Martin (LMT.N) for providing weapons to Taiwan, the Chinese foreign ministry said on Friday. The sanctions are being enacted under China's Anti-Foreign Sanctions Law, ministry spokesperson Mao Ning told a regular press briefing. Mao named Lockheed Martin Corp's branch in Missouri as the prime contractor that was directly involved in an arms sale to Taiwan on Aug. 24 and said Northrop Grumman has repeatedly participated in the sale of weapons to Taiwan. Taiwan has also reported dozens of Chinese fighters, bombers and other aircraft flying into its air defence zone this week. China's wide-ranging law to counter foreign sanctions came into force in 2021 in an apparent move to legalise tit-for-tat retaliation against punitive actions taken by foreign countries.

Persons: Kim Kyung, Northrop, Lockheed Martin, Mao Ning, Mao, Northrop Grumman, Joe Biden, Joe Cash, Liz Lee, Kim Coghill, Christian Organizations: Lockheed, Japan Aerospace, REUTERS, Rights, U.S, Northrop Grumman, China's, Foreign, Thomson Locations: Japan, Tokyo, Rights BEIJING, China, Taiwan, U.S, Missouri, China . U.S, Shandong, Taiwan's, Beijing

☆ Sweden's NATO Accession and Turkey's Bid to Buy F-16 Jets Should Be Kept Separate, Erdogan Says
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

ANKARA (Reuters) - U.S. President Joe Biden's administration is linking F-16 fighter jet sales to Turkey with Turkish ratification of Sweden's NATO membership bid, and this "seriously upsets" Ankara, President Tayyip Erdogan said on Sunday. Biden made a connection between the supply of F-16s and Turkish action in ratifying Sweden's application to join NATO, Erdogan said. After months of objections, Erdogan agreed at a NATO summit in July to forward Sweden's NATO bid to the Turkish parliament for ratification. "It is not possible for me to say 'yes' (to Sweden's NATO membership bid) alone unless such a decision is approved by (our) parliament." Stockholm recently voiced hope that Turkish lawmakers would ratify its NATO bid when they reconvene in October, as agreed at the NATO summit in July.

Persons: Joe Biden's, Tayyip Erdogan, Erdogan, Biden, Lockheed Martin Corp's, Jake Sullivan, extraditing, Sweden's, Krishn Kaushik, Aftab Ahmed, Huseyin Hayatsever, Mark Heinrich Organizations: NATO, Lockheed, U.S . National, Kurdistan Workers Party, European Union, Turkish Locations: ANKARA, Turkey, Ankara, New Delhi, U.S, Washington, Turkish, Sweden, United States, Stockholm, Finland, Russia, Ukraine, Hungary, Budapest

☆ Sweden's NATO accession and Turkey's bid to buy F-16 jets should be kept separate -Erdogan
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +3 min

Biden made a connection between the supply of F-16s and Turkish action in ratifying Sweden's application to join NATO, Erdogan said. After months of objections, Erdogan agreed at a NATO summit in July to forward Sweden's NATO bid to the Turkish parliament for ratification. "It is not possible for me to say 'yes' (to Sweden's NATO membership bid) alone unless such a decision is approved by (our) parliament." Stockholm recently voiced hope that Turkish lawmakers would ratify its NATO bid when they reconvene in October, as agreed at the NATO summit in July. While Finnish membership was sealed in April, Sweden's bid remains held up by Turkey and Hungary.

Persons: Tayyip Erdogan, Adnan Abidi, Joe Biden's, Erdogan, Biden, Lockheed Martin Corp's, Jake Sullivan, extraditing, Sweden's, Krishn Kaushik, Aftab Ahmed, Huseyin Hayatsever, Mark Heinrich Our Organizations: REUTERS, Rights, NATO, Lockheed, U.S . National, Kurdistan Workers Party, European Union, Turkish, Thomson Locations: New Delhi, India, Rights ANKARA, Turkey, Ankara, U.S, Washington, Turkish, Sweden, United States, Stockholm, Finland, Russia, Ukraine, Hungary, Budapest

☆ Taiwan seeking US cooperation to make next-generation fighters
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 3 (Reuters) - Taiwan is seeking U.S. cooperation to make the island's next domestically developed fighter jet, the head of Taiwanese defence contractor Aerospace Industrial Development Corp (AIDC) (2634.TW) said on Wednesday. Taiwan's air force scrambles daily to see off incursions by Chinese jets into the airspace around the island as Beijing steps up its pressure to try and force Taiwan to accept China's sovereignty. While the mainstay of Taiwan's air force is Lockheed Martin Corp's (LMT.N) F-16s and French-build Mirages it also uses AIDC's F-CK-1 Ching-kuo Indigenous Defence Fighter, or IDF. Taiwan in 2017 announced the next generation fighter programme, to include stealth capabilities, but has given few details since. Even the United States has been unwilling to provide Taiwan its most advanced fighters like the F-22 or F-35, and Taiwan has no direct answer to China's new J-20 stealth fighter.

☆ Taiwan seeking US cooperation to make next generation fighters
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 3 (Reuters) - Taiwan is seeking U.S. cooperation to make the island's next domestically developed fighter jet, the head of Taiwanese defence contractor Aerospace Industrial Development Corp (AIDC) (2634.TW) said on Wednesday. Taiwan's air force scrambles daily to see off incursions by Chinese jets into the airspace around the island as Beijing steps up its pressure to try and force Taiwan to accept China's sovereignty. Speaking at a Taiwan-U.S. defence industry forum in Taipei, AIDC Chairman Hu Kai-hung said the company wanted to raise its technical prowess to help with the development of Taiwan's next generation fighter. Taiwan in 2017 announced the next generation fighter programme, to include stealth capabilities, but has given few details since. Even the United States has been unwilling to provide Taiwan its most advanced fighters like the F-22 or F-35, and Taiwan has no direct answer to China's new J-20 stealth fighter.

April 18 (Reuters) - U.S. weapons maker Lockheed Martin Corp's (LMT.N) first-quarter results surpassed Wall Street targets on Tuesday despite parts and labor shortages, as simmering geopolitical tensions fueled demand from both U.S. and international customers. Shares of the company rose as much as 3.8% to hit a record high of $508.1 in early trading. The Pentagon's $858 billion defense budget for 2023 has also resulted in multiple contract wins for U.S. defense firms such as Lockheed, Raytheon Technologies (RTX.N) and Northrop Grumman Corp (NOC.N), which count the U.S. Department of Defense as their biggest customer. Lockheed's order backlog also fell to $145.1 billion as of quarter-end from $150 billion at the end of 2022. The missiles maker reaffirmed its full-year outlook, projecting net sales in the range of about $65 billion to $66 billion and profits between $26.60 and $26.90 per share.

J&J (JNJ.N) shares fell 2.8% after the healthcare conglomerate cautioned investors over the lingering impact of inflation-driven costs this year. Goldman (GS.N) shares dropped 1.7% after the Wall Street firm's profit fell 19% as dealmaking and bond trading slumped. The early quarterly results from S&P 500 companies come as investors have been bracing for a gloomy reporting season, fearing the economy may be on the cusp of a downturn. S&P 500 company earnings are expected to have declined 4.8% in the first quarter from a year earlier, according to Refinitiv IBES data as of Friday. The S&P 500 posted 28 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 143 new lows.

☆ US GAO denies Lockheed protest of Textron $7 bln Army helicopter deal
▼ + stars: | 2023-04-06 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

WASHINGTON, April 6 (Reuters) - The U.S. Government Accountability Office on Thursday denied Lockheed Martin Corp's (LMT.N) protest of the Army contract for the Future Long Range-Assault Aircraft worth as much as a $7.1 billion, awarded to Textron Inc's (TXT.N) Bell helicopter unit over Lockheed's Sikorsky unit. The initial contract award was for $232 million, but the first batch of helicopters in low rate production will be worth $7.1 billion. Ultimately, the contract is potentially worth around $70 billion - over decades - depending on how many the Army and U.S. allies order, the Army has said. In the FLARAA competition was Bell's V-280 "Valor," a tiltrotor aircraft that has reached speeds in excess of 340 mph (547 kph) according to the Army. “We remain confident the Lockheed Martin Sikorsky and Boeing team submitted the most capable, affordable and lowest-risk Future Long-Range Assault Aircraft solution.

☆ Lockheed's Sikorsky seeks review of Black Hawk replacement contract
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Dec 28 (Reuters) - Lockheed Martin Corp's (LMT.N) Sikorsky unit on Wednesday sought a review of the U.S. Army's decision to award a contract for its next-generation helicopter to Textron Inc's (TXT.N) Bell unit. The company, which filed its protest with the U.S. Government Accountability Office (GAO), said it had partner Boeing Co's (BA.N) support. Earlier this month, the Army ended a years-long competition aimed at finding a replacement for the Black Hawk utility helicopter after it assigned the contract to Textron's unit. The filing of a protest by Lockheed and Boeing triggers a formal legal review from the GAO and requires a decision within 100 days, the agency said. The Army acknowledges Sikorsky's decision to file for protest and will comply with GAO's requirements, said a spokesperson for U.S. Army Program Executive Office - Aviation.

☆ U.S. Senate passes record $858 billion defense act, sending bill to Biden
▼ + stars: | 2022-12-16 | by ( Patricia Zengerle | ) www.reuters.com time to read: +3 min

REUTERS/Joshua Roberts/File PhotoWASHINGTON, Dec 15 (Reuters) - The U.S. Senate passed legislation on Thursday authorizing a record $858 billion in annual defense spending, $45 billion more than proposed by President Joe Biden, and rescinding the military's COVID vaccine mandate. Senators supported the National Defense Authorization Act, or NDAA, an annual must-pass bill setting policy for the Pentagon, by an overwhelming 83-11 bipartisan majority. AID FOR TAIWAN, UKRAINE AND JUDGESBecause it is one of the few major bills that always passes, lawmakers use the NDAA as a vehicle for a range of initiatives. A bid to amend the bill to award back pay and reinstate troops who refused the vaccine failed. A bill to fund the government through Sept. 30, 2023, - the end of the fiscal year - is expected to pass Congress next week.

☆ U.S. House overwhelmingly approves bill backing record military spending
▼ + stars: | 2022-12-08 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

"This bill is Congress exercising its authority to authorize and do oversight," said Representative Adam Smith, the Democratic chairman of the House Armed Services Committee, in a speech urging support for the measure. This year's bill - the result of months of negotiations between Democrats and Republicans in the House and Senate - needed a two-thirds majority in the House after disagreement from some House members over whether it should include an amendment on voting rights. The Senate is expected to pass the NDAA next week, sending it to the White House for President Joe Biden to sign into law. Authorization bills create programs but Congress must pass appropriations bills to give the government legal authority to spend federal money. Congressional leaders have not yet agreed on an appropriations bill for next year.

☆ F-35 jet deliveries can resume following waiver for Chinese-origin alloy, Pentagon says
▼ + stars: | 2022-10-08 | by ( Mike Stone | ) www.reuters.com time to read: +1 min

WASHINGTON, Oct 8 (Reuters) - Deliveries can resume for Lockheed Martin Corp's (LMT.N) F-35 jet under a waiver allowing Chinese-origin alloy to go into an engine part, the Pentagon said on Saturday. In September the Pentagon stopped accepting new F-35 jets after it discovered a magnet in the stealthy fighter's engine was made with unauthorized material from China. Lockheed Martin, which manufactures the jets, had said the issue was "related to a magnet on the F-35 Turbomachine manufactured by Honeywell that includes cobalt and samarium alloy." An alternative source for the alloy will be used in future, the Joint Program Office said in its statement. There are other Chinese-origin magnets on the jet that have received waivers from past Pentagon officials.

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