DIRS.INFO The most relevant business & tech news

☆ Canada Joins Nearly 20 Nations Calling for Halt to Deep-Sea Mining as Negotiators Meet to Agree Rules
▼ + stars: | 2023-07-11 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

This week, delegates of the International Seabed Authority—a United Nations observer organization that regulates deep-sea mining in international waters—are descending on ISA headquarters in Kingston, Jamaica to hash out the regulations around deep-sea mining over the next two weeks. PREVIEWCanada, Ireland and Switzerland have all recently joined calls—by nearly 20 countries—for a moratorium or at least a pause on deep-sea mining. Norway recently opened the door to deep-sea mining in its waters. Deep-sea mining in recent years has garnered attention because of the possibility of recovering battery metals such as manganese and nickel from the seafloor. Some other early supporters of seabed mining, including Maersk and Lockheed Martin, have been selling their deep-sea mining investments.

Persons: —, Michael Lodge, Gerard Barron, Sandy Huffaker, GUSTAVO GRAF MALDONADO, Lockheed Martin, Yusuf Khan Organizations: United, Sustainable Business, ” Global Affairs Canada, ISA, Metals Co, Maersk, Press, Greenpeace, The Metals Co, REUTERS, Nauru wouldn’t, Lockheed Locations: Canada, United Nations, Kingston , Jamaica, Ireland, Switzerland, Norway, Nauru, yusuf.khan

☆ US defense secretary discussed support for Turkish military modernization with counterpart
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: 1 min

July 10 (Reuters) - U.S. Defense Secretary Lloyd Austin discussed support for Turkey's military modernization during a call with his Turkish counterpart, according to a U.S. readout released late on Monday after Turkey said it would back Sweden's NATO accession. Turkey requested in October 2021 to buy $20 billion of Lockheed Martin Corp (LMT.N) F-16 fighters and nearly 80 modernization kits for its existing warplanes. "They ... discussed the positive talks between Turkiye, Sweden, and NATO Secretary General Stoltenberg, as well as the Department of Defense's support for Turkiye's military modernization," the Pentagon said of the phone call between Austin and Turkish Defense Minister Yasar Guler. Reporting by Costas Pitas; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Lloyd Austin, General Stoltenberg, Yasar Guler, Costas Pitas, Himani Sarkar Organizations: . Defense, Turkish, NATO, Lockheed Martin Corp, Department of, Pentagon, Turkish Defense, Thomson Locations: U.S, Turkey, Turkiye, Sweden, Austin

☆ GlobalFoundries scraps plan to appoint former top Amazon executive as CFO
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Chipmaker GlobalFoundries (GFS.O) has shelved its plan to appoint former Amazon executive Tim Stone as chief financial officer, it said on Tuesday, two months after choosing him. It said current CFO David Reeder will remain in the role through the end of the year as it looks for a new candidate. GlobalFoundries had in May named Stone, who was at Amazon (AMZN.O) for more than 20 years and served as CFO for AWS and Devices businesses. The chipmaker counts companies including Advanced Micro Devices (AMD.O), STMicroelectronics (STMPA.PA), Qualcomm (QCOM.O) and Lockheed Martin (LMT.N) among its customers. Reporting by Chavi Mehta in Bengaluru; Editing by Nivedita Bhattacharjee and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Stone, David Reeder, GlobalFoundries, Stone, Lockheed Martin, Chavi Mehta, Nivedita Bhattacharjee, Arun Koyyur Organizations: Amazon, AWS, Ford Motor, Devices, Qualcomm, Lockheed, Global, IDC, Thomson Locations: Bengaluru

☆ U.S. says to move forward with transfer of F-16 jets to Turkey
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

VILNIUS, July 11 (Reuters) - U.S. President Joe Biden will move forward with the transfer of F-16 fighter jets to Turkey in consultation with Congress, U.S. National Security Adviser Jake Sullivan said on Tuesday. Speaking ahead of a summit of NATO leaders due to start later in the day in the Lithuanian capital Vilnius, Sullivan said President Joe Biden "had been clear that he supports the transfer". He intends to move forward with that transfer," he said. Late on Monday, Turkish President Tayyip Erdogan agreed to forward to parliament Sweden's bid to become a member of the NATO military alliance, following months of pressure by the United States and its allies. Reporting by Steve Holland, Justyna Pawlak; editing by John IrishOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Jake Sullivan, Sullivan, Tayyip Erdogan, Sweden's, Steve Holland, Justyna, John Irish Organizations: U.S . National, NATO, Lockheed Martin Corp, Thomson Locations: VILNIUS, Turkey, U.S, Lithuanian, Vilnius, United States, Washington

☆ US Senator Warren, others warn against L3Harris plan to buy Aerojet
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers on Tuesday to urge the Defense Department to thoroughly review defense contractor L3Harris Technologies' (LHX.N) $4.7 billion deal for Aerojet Rocketdyne Holdings (AJRD.N). The letter was sent to Defense Secretary Lloyd Austin and William LaPlante, undersecretary of defense for acquisition and sustainment. In addition to Warren, the letter was signed by Representatives Chris Deluzio, John Garamendi and Mark Pocan. With the Ukraine war driving up demand for missiles and defense systems, Aerojet became an attractive takeover target. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications.

Persons: Elizabeth Warren, Warren, Lockheed Martin, Lloyd Austin, William LaPlante, Chris Deluzio, John Garamendi, Mark Pocan, Aerojet, Diane Bartz, David Gregorio Our Organizations: Defense Department, L3Harris Technologies, Aerojet Rocketdyne Holdings, The Defense Department, Raytheon, Boeing, Defense, L3 Technologies, Harris Corp, United, National Aeronautics and Space Administration, NASA, Thomson Locations: Ukraine, United States

☆ Jeff Bezos’ Blue Origin rocket engine explodes during testing
▼ + stars: | 2023-07-11 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

A test of a BE-4 engine at Blue Origin's Launch Site One facility in West Texas, Aug. 2, 2019. A Blue Origin rocket engine exploded during testing last month, CNBC has learned, a destructive setback with potential ramifications for the company's customers as well as its own rocket. "No personnel were injured, and we are currently assessing root cause," Blue Origin said, adding that "we already have proximate cause and are working on remedial actions." Blue Origin also said it will be able to "continue testing" engines in West Texas. "We will be able to meet our engine delivery commitments this year and stay ahead of our customer's launch needs," Blue Origin added.

Persons: Jeff Bezos, ULA, Lockheed Martin Organizations: CNBC, United, Alliance, Vulcan, Boeing, Lockheed, Elon, SpaceX Locations: West Texas, ULA

VILNIUS, July 11 (Reuters) - Washington will move ahead with the transfer of F-16 fighter jets to Turkey in consultation with Congress, U.S. National Security Adviser Jake Sullivan said on Tuesday, a day after Ankara gave the green light for Sweden to join NATO. He intends to move forward with that transfer," Sullivan told reporters, without giving any details on the timing. Both Turkish officials and the Biden administration have rejected any suggestion that Ankara's approval of Sweden's NATO accession was being linked to the F-16 sale in the months of talks to address Turkish opposition. Russian officials said Sweden's expected accession to NATO would have "negative implications" for Russia's security and that Moscow would have to respond. TIMING UNCERTAINThe timing of both the F-16 transfer and Sweden's NATO entry remains unclear.

Persons: Jake Sullivan, Sullivan, Joe Biden, Bob Menendez, Biden, Tayyip Erdogan, Camille Grand, Erdogan, Gerard Araud, Sweden's, Peter Szijjarto, Jens Stoltenberg, Steve Holland, Justyna, John Irish, Nick Macfie, Heather Timmons, Devika Organizations: U.S . National, NATO, Lockheed Martin Corp, Senate Foreign Relations, Democrat, Turkish, European Council, Foreign Relations, Twitter, Kurdistan Workers Party, EU, Monday, Finland's, Nordic, Thomson Locations: VILNIUS, Washington, Turkey, U.S, Ankara, Sweden, Lithuanian, Vilnius, NATO, French, Swedish, United States, Turkey's, Moscow, Hungary, Finland, Ukraine

Sweden and Finland applied for NATO membership last year, abandoning their policies of military non-alignment that had lasted through the decades of the Cold War in response to Russia's invasion of Ukraine. While Finland's NATO membership was green-lighted in April, Turkey and Hungary have yet to clear Sweden's bid. NATO Secretary-General Jens Stoltenberg, Turkish President Tayyip Erdogan and Swedish Prime Minister Ulf Kristersson react during a meeting, on the eve of a NATO summit, in Vilnius, Lithuania July 10, 2023. "This has been a good day for Sweden," Kristersson told reporters, saying the joint statement on Monday represented "a very big step" toward the final ratification of Sweden's membership of NATO. After Hungarian Prime Minister Viktor Orban's chief of staff said on Thursday that Budapest would now no longer block Sweden's NATO membership ratification, Turkish approval would remove the last hurdle for Swedish accession to NATO, applications for which must be approved by all members.

Persons: Tayyip Erdogan, Sweden's, Erdogan, Jens Stoltenberg, Ulf Kristersson, Yves Herman / Pool Erdogan, Kristersson, Monday, Stoltenberg, Viktor Orban's, Joe Biden, Niklas Pollard, Andrius, Anna Ringstrom, Johan Ahlander, Ezgi, John Irish, William Maclean, Rosalba O'Brien Organizations: NATO, Kurdistan Workers Party, EU, REUTERS, European Union, Finland's, Hungarian, Lockheed Martin Corp, Pawlak, Thomson Locations: VILNIUS, Ukraine, Sweden, Finland, Turkey, Hungary, Stockholm, Lithuanian, Vilnius, Swedish, Madrid, Ankara, United States, Lithuania, Turkey's, European, Budapest, Washington, Istanbul

☆ Here's why Ukraine needs the US Army Tactical Missile System to win the 'deep battle' against Russia
▼ + stars: | 2023-07-08 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +6 min

The US is considering providing ATACMS to Ukraine, according to a WSJ report. Kyiv has long sought ballistic missiles, which could strike targets far beyond the front lines. Kyiv has long been asking the US for the Army Tactical Missile System, or ATACMS, which has a range of about 190 miles and could be used to strike Russian targets far beyond the front lines, including Crimea. "ATACMS is a long-range guided missile that gives operational commanders the immediate firepower to win the deep battle," says its manufacturer, Lockheed Martin. The House Foreign Affairs Committee passed a resolution last week calling for ATACMS to be sent to Ukraine immediately.

Persons: Biden, Ben Hodges, Sergei Shoigu, Hodges, Lockheed Martin, Putin, ATACMS, Volodymyr Zelensky, Joe Biden, Brendan Smialowski, Abrams, James Risch Organizations: Kyiv, Washington DC, Service, Wall Street, Army Tactical Missile, Army, Russian, The Telegraph, British Storm Shadow, US High Mobility Artillery, Lockheed, Black, White, Getty, Politico, US, Pentagon, Foreign Affairs, GOP, Reuters Locations: Ukraine, Wall, Silicon, Crimea, Army Europe, Kherson, Kerch, Russia, Ukrainian, Odesa, Sevastopol, Washington , DC, Washington

NEW YORK, July 7 (Reuters) - Private equity firms Blackstone Inc (BX.N) and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp (BALL.N), according to people familiar with the matter. The unit, which accounted for 13% of Ball's consolidated net sales in 2022, provides aerospace and national defense hardware, such as sensors and antennas. In June, Ball said it was considering options for its aerospace unit, after Reuters reported on the sale process. Blackstone owns Arka Group, an aerospace and defense technologies firm whose clients include the U.S. military, while Veritas owns companies including CAES Space Systems, which is a supplier of advanced electronic systems for aerospace and defense. Ball could incur a hefty tax bill of over $1 billion if the aerospace unit is sold for $5 billion or more, according to analysts at Jefferies.

Persons: Ball, Blackstone, David Carnevali, Mike Stone, Daniel Wallis Organizations: YORK, Blackstone Inc, Veritas Capital Fund Management, Ball Corp, BAE Systems, General Dynamics Corp, Textron Inc, Reuters, Blackstone, Veritas, Arka Group, U.S ., CAES, Systems, Bae Systems, Textron, General Dynamics, Lockheed Martin Corp, Rocketdyne Holdings, L3Harris Technologies, Jefferies, Thomson Locations: New York, Washington

☆ Pentagon has strategic germanium stockpile but no gallium reserves
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 6 (Reuters) - The Pentagon holds a strategic U.S. stockpile for germanium but currently has no inventory reserves for gallium, a spokesperson said on Thursday, after China announced export restrictions on the two metals used in semiconductors. "The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining and processing of critical materials for the microelectronics and space supply chain, including gallium and germanium," the spokesperson said. Germanium is used in high-speed computer chips, plastics and military applications such as night-vision devices, as well as satellite imagery sensors. Gallium is used in radar and radio communication devices, satellites and LEDs. While major defense contractors like Lockheed Martin Corp (LMT.N) may not buy gallium and germanium directly, they likely purchase semiconductors from suppliers who source Chinese gallium and germanium, said Arun Seraphin, executive director for the National Defense Industrial Association’s Emerging Technologies Institute.

Persons: Arun Seraphin, ”, Dak Hardwick, Hardwick, Xi Jinping, Idrees Ali, Phil Stewart, Valerie Insinna, Rami Ayyub, Doina Chiacu, Mark Porter, Marguerita Choy Organizations: Pentagon, China, Defense, Department, Lockheed Martin Corp, National Defense Industrial, Emerging Technologies, Aerospace Industries Association, U.S, Shanghai Cooperation Organisation, Thomson Locations: U.S, China

☆ Israel to buy 25 more F-35 stealth jets in $3 billion deal
▼ + stars: | 2023-07-02 | by ( ) www.cnbc.com time to read: 1 min

Israel has approved the purchase of a third squadron of F-35 stealth fighter jets in a deal worth $3 billion, the Ministry of Defense said on Sunday. Israel was the first country outside the United States to acquire the F-35. In May 2018 its air force chief said that Israel was the first to use the plane in combat. The F-35 is also known as the Joint Strike Fighter and in Israel by its Hebrew name "Adir" (Mighty). Lockheed Martin and engine manufacturer Pratt & Whitney have agreed to involve Israeli defense companies in the production of aircraft components, the Israeli ministry added.

Persons: Israel, Lockheed Martin Organizations: Ministry of Defense, Lockheed, Israel, Pratt, Whitney Locations: United States, Israel

☆ The US is close to approving the supply of ATACMS to Ukraine, a report said. Here's why Kyiv need them to win the 'deep battle.'
▼ + stars: | 2023-07-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +5 min

The US is considering providing ATACMS to Ukraine, according to a WSJ report. Kyiv has long sought its ballistic missiles, which could strike targets far beyond the front lines. "ATACMS is a long-range guided missile that gives operational commanders the immediate firepower to win the deep battle," says its manufacturer, Lockheed Martin. The Pentagon said on Thursday that it was not aware of any imminent decision to send ATACMS to Ukraine following the Wall Street Journal report, per Reuters. However, US and European officials say that behind the scenes, the tone in Washington has recently shifted, and there appears to be a greater appetite to send Ukraine more advanced weapons, per the Journal report.

Persons: Biden, —, Sergei Shoigu, HIMARS, Ben Wallace, Lockheed Martin, Putin, Volodymyr Zelensky, Joe Biden, Brendan Smialowski, ATACMS, Abrams, James Risch, General Kyrylo Budanov Organizations: Kyiv, Washington DC, Service, Wall Street Journal, Army Tactical Missile, Russian, The Telegraph, British Storm Shadow, US High Mobility Artillery, Lockheed, White, Getty, Politico, US, Pentagon, Foreign Affairs, Reuters, Military Intelligence Locations: Ukraine, Crimea, Kherson, Kerch, Russia, Washington , DC, Washington

☆ Analysis: Canada pressured by allies to up military spending
▼ + stars: | 2023-06-29 | by ( Steve Scherer | ) www.reuters.com time to read: +6 min

The 2022 average spending for all of NATO was 2.58% of GDP. "We say nice things but do not invest," said the former defense official, and allies now say: "Show us the money." And you don’t get elected in Canada by promising to increase defense spending." The move is allies telling Canada: "We don't want to hear the words anymore. David Perry, President of the Canadian Global Affairs Institute, also said it was time for Canada to step up.

Persons: Justin Trudeau, Jens Stoltenberg, Adam Scotti, I'd, Daniel Minden, Anita Anand, Roland Paris, Trudeau, don’t, Christyn, David Perry, Steve Scherer, Denny Thomas, Grant McCool Organizations: Canada's, NATO, Canadian Forces CF, Minister's, REUTERS, Canada, OTTAWA, Canadian, Atlantic Treaty Organization, Forces, University of Ottawa, Trudeau's Liberal, Lockheed Martin Corp, North American Aerospace Defense Command, NORAD, Washington Post, HIGH, Canadian Association of Defence, Security Industries, Canadian Global Affairs Institute, Thomson Locations: CFB Cold Lake, Cold Lake , Alberta, Canada, China, Russia, Ukraine, NATO, Lithuania, Pacific, Australia

☆ China unveils sweeping foreign policy law as Xi consolidates power — and aims to counter the US
▼ + stars: | 2023-06-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China has unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat – in Beijing’s latest bid to bolster its position amid strained relations with the West. “This is the first comprehensive foreign relations law … but it (reads) more like Xi Jinping’s foreign policy declaration,” Zhao said, adding that its release comes at a moment when Xi is focused on countering what it sees as US efforts to contain China. “The party, not the government, runs China’s foreign relations. The law also includes China’s pledge to promote “high-level opening-up” of its economy, development of foreign trade and and encouraging and legally protecting foreign investment. In recent months, a campaign against consulting and due diligence firms has unnerved foreign businesses in China.

Persons: enshrining, Antony Blinken, Jinping, –, Zhao Leji, “, Xi, Washington, Lockheed Martin, Suisheng Zhao, University of Denver’s Josef, ” Zhao, ”, China’s, Sung, Li Qiang, Zhao Organizations: Hong Kong CNN, West, Global Times, Lockheed, Raytheon, Communist Party, Center for, Cooperation, University of Denver’s, University of Denver’s Josef Korbel School of International Studies, Australian National University’s Taiwan Studies Locations: Hong Kong, China, Beijing’s, Beijing, China’s, United States, Ukraine, Taiwan, Center for China, Tianjin, Europe, Denver

☆ Circor sticks with sale to KKR despite higher Arcline bid
▼ + stars: | 2023-06-27 | by ( Aishwarya Nair | ) www.reuters.com time to read: +3 min

Circor, an industrial machinery maker, said KKR had sweetened its all-cash deal from $49 to $51 per share in the wake of a rival bid of $52.65 per share in cash from an unidentified party. One of Fairbanks' subsidiaries is Hunt Valve, which competes with Circor in providing valve systems to the Navy. Arcline and KKR declined to comment. Circor said it rejected the higher offer because it concluded there was a risk of a protracted review by antitrust regulators that would jeopardize the deal. Circor shares ended at $51.49 on Tuesday, above the $51 per share deal clinched with KKR, indicating that some investors believed an even better deal was possible.

Persons: snubbing, Circor, Arcline, Gardner, Rand Inc's, Aishwarya Nair, David Carnevali, Vinay Dwivedi, Saumyadeb Chakrabarty, Leslie Adler Organizations: KKR, Co Inc, Arcline Investment Management, Fairbanks Morse Defense, U.S . Navy, Fairbanks, Hunt Valve, Circor, Navy, Representatives, Gardner Denver, Ingersoll, Lockheed Martin Corp, Rocketdyne Holdings, L3Harris Technologies, Thomson Locations: Arcline, U.S, Bengaluru, New York

Technology (.SPLRCT) and real estate sectors (.SPLRCR) were the other top gainers among the 11 major S&P 500 sectors. ET, the Dow Jones Industrial Average (.DJI) was down 19.60 points, or 0.06%, at 33,707.83, the S&P 500 (.SPX) was up 6.90 points, or 0.16%, at 4,355.23, and the Nasdaq Composite (.IXIC) was up 51.68 points, or 0.38%, at 13,544.20. Advancing issues outnumbered decliners by a 2.97-to-1 ratio on the NYSE and 1.37-to-1 ratio on the Nasdaq. The S&P index recorded 17 new 52-week highs and one new low, while the Nasdaq recorded 37 new highs and 67 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Aston Martin, Jerome Powell, Randy Frederick, Charles Schwab, Goldman Sachs, UK's Aston Martin, Lockheed Martin, Sruthi Shankar, Johann M, Shinjini Organizations: Pfizer, Aston, Dow, Nasdaq, Technology, University of, Dow Jones, Pfizer Inc, Inc, UBS, Tesla, Ares Management, Lockheed, Northrop Grumman Corp, Raytheon Technologies, NYSE, Thomson Locations: Russian, U.S, Russia, Bengaluru

But all the deals and pomp of the visit — including an address to Congress and a lavish state dinner — may not have accomplished what the White House had wanted. U.S. leaders gave Modi a hearty welcome, as Washington seeks to nudge India further into the American sphere of influence. “The partnership is among the most consequential in the world,” Biden said at a news conference on Thursday. Biden and Modi largely brushed off criticism of the Indian government’s crackdown on human rights and religious freedom. And Modi made no pledges to endorse U.S. efforts to restrain China, nor to cut ties to Russia.

Persons: Modi, ” Biden, Dave Calhoun, Larry Culp, G.E, James Taiclet, Lockheed Martin, Sam Altman, OpenAI, Tim Cook, Sanjay Mehrotra, Sundar Pichai, Lisa Su, Ken Chenault, Jane Fraser, Adena Friedman, Deven Parekh, Hemant Taneja, ” Taneja, DealBook, Biden Organizations: White, General Electric, chipmakers, Micron, Materials, World Trade Organization, America, Boeing, Lockheed, Tech, Apple, Citigroup, Nasdaq, Insight Venture Partners, Catalyst, The Times, House Locations: India, China, Russia, U.S, Washington, portobello, United States

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

☆ Norway Opens Door for Deep-Sea Mining of Copper and Other Critical Materials
▼ + stars: | 2023-06-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

The target crusts contain copper, zinc and cobalt, as well as some rare-earth elements, according to the Norwegian Petroleum Directorate. A seabed nodule obtained during a Norwegian Petroleum Directorate expedition to the Mohns Ridge in the Norwegian Sea in 2020. Currently, deep-sea mining in international waters isn’t yet legal, but it is expected to become so this year. “To forge ahead and unleash deep-sea mining in the Arctic would be criminal. Companies including Maersk and Lockheed Martin have also been divesting their deep-sea mining investments.

Persons: ”, Terje Aasland, Aasland, Nag, Louisa Casson, Lockheed Martin, Yusuf Khan Organizations: Sustainable Business, Clarion, Minerals, Norwegian Petroleum Directorate, Norway’s, Petroleum, Energy, NPD, International, Companies, Mining, Greenpeace International, Maersk, Lockheed Locations: Norwegian, Europe, Zone, Mexico, Hawaii, Norway, Jamaica, France, Germany, Clarion, yusuf.khan

☆ Norway Opens Door For Deep-Sea Mining of Copper and Other Critical Materials
▼ + stars: | 2023-06-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

☆ Exclusive: Lockheed raises concerns over L3Harris-Aerojet deal
▼ + stars: | 2023-06-20 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

PARIS, June 20 (Reuters) - Lockheed Martin (LMT.N) has raised concerns with the U.S. Defense Department and Federal Trade Commission (FTC) about L3Harris's (LHX.N) acquisition of Aerojet Rocketdyne (AJRD.N), Lockheed's chief operating officer said on Tuesday. Frank St John told Reuters that Lockheed, Aerojet's biggest customer, wanted L3Harris to ensure access to rocket motors, fair pricing and IP protections, adding it had received "little response" from L3Harris over its concerns. If L3Harris continues to be unresponsive, Lockheed wants the Defense Department or FTC to put in place a mechanism to guarantee access to technology, St John said. L3Harris, Aerojet Rocketdyne, the FTC and Defense Department did not immediately respond to emailed requests for comment. Lockheed had previously attempted to buy Aerojet in a $4.4 billion deal, but walked away from the acquisition in February 2022 after the FTC sued to block the deal, citing concerns that Lockheed could hinder competitors' fair access to Aerojet products.

Persons: Lockheed Martin, Aerojet, Frank St John, L3Harris, we've, St John, Aerojet Rocketdyne, Lockheed's, Greg Hayes, Chris Calio, Valerie Insinna, Mark Potter Organizations: Lockheed, U.S . Defense Department, Federal Trade Commission, Reuters, Paris, Defense Department, FTC, Aerojet, Thomson Locations: L3Harris, Ukraine

☆ Lockheed Martin COO on the growth in defense spending and the outlook on deliveries
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLockheed Martin COO on the growth in defense spending and the outlook on deliveriesLockheed Martin COO Frank St. John joins CNBC's Phil Lebeau live from the Paris Air Show to discuss the defense spending environment and the outlook for the company.

Persons: Lockheed Martin, Martin, Frank St, John, Phil Lebeau Organizations: Lockheed, Paris Air

Lockheed and Airbus will tout their LMXT tanker at the Paris Airshow this week, bringing U.S. reporters onboard the A330 Multi Role Tanker Transport on which the new plane is based. In 2011, Boeing won the first of a three-phase procurement to replace the Air Force's aging tanker fleet, securing a contract for 179 KC-46s. But Larry Gallogly, Lockheed’s director of LMXT business development, said Lockheed and Airbus "are most definitely still in this competition." Lockheed and Airbus sought a program of at least 120 aircraft, but “the business case can certainly close below that,” Gallogly said. Boeing Defense CEO Ted Colbert said the KC-46 "has proven to be highly capable" and is ready for the threats of the 2030s.

Persons: Lockheed Martin, Larry Gallogly, ” Gallogly, Ted Colbert, Jerry Carl, Carl, Valerie Insinna, Tim Hepher, Mark Potter Organizations: Pentagon, Aerospace titans Airbus, Boeing, Airbus, Lockheed, U.S, U.S . Air Force, Air, KC, Capitol, Air Force, General, Armed Services, Alabama Republican, Thomson Locations: WASHINGTON, PARIS, U.S, United States, Alabama, Georgia, American

☆ Flying the F-35 stealth fighter can leave pilots looking 'like they are 100 years old,' says test pilot
▼ + stars: | 2023-06-17 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +4 min

F-35 test pilots described how intense it is to fly the aircraft, The Jerusalem Post reported. "After some training, pilots come out looking like they are 100 years old," another test pilot said. Tony "Brick" Wilson, an F-35 test pilot for the American defense company who formerly served in the US Navy, described the "g-forces" — or gravitational force — must deal with when flying the hi-tech US fighter jets. Monessa "Siren" Balzhiser, another F-35 test pilot for the company, also addressed "g-forces" in the discussion. The F-16 has three separate screens and displays, with each screen tied to a specific sensor," she said, per The Jerusalem Post.

Persons: Lockheed Martin webinar, —, Lockheed Martin, Tony, Wilson, Balzhiser Organizations: Jerusalem Post, Lockheed, Service, US Navy, Aircraft, US Air Force, Russian, AIM Locations: Jerusalem, Russia, Ukraine

Search resuls for: "lockheed martin"

25 mentions found