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☆ Column: Europe's industry to feel the sting of high & rising carbon costs
▼ + stars: | 2023-02-23 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

EU carbon credit pricesTwo-thirds of Europe's emissions stem from just three sectors: energy supply (24.2%), domestic transport (20.7%) and industry (20.7%), according to European Environment Agency (EEA) data from 2020, the latest available. Industry accounts for 25% of Germany's total energy consumption, according to the International Energy Agency (IEA), so any successful retooling of Germany's energy systems will likely set trends across Europe. That would mark a 42% drop in only 8 years, and compares to an 18.7% reduction in total emissions from 2010 to 2022. However, given the expected shuttering of Germany's remaining coal plants and least efficient gas-fed power stations, the energy sector's target may be reachable. Germany industry energy use by power sourceCertain sectors are banking on the roll-out of clean hydrogen for use as a fuel instead of natural gas.

☆ EU countries mull curbing Russia sanctions dodging via trade tools, access to EU market
▼ + stars: | 2023-02-21 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

BRUSSELS, Feb 21 (Reuters) - Twelve EU countries are calling on the European Union to stop companies and third countries from circumventing EU sanctions on Russia by using trade and access to the European single market as leverage, a document showed on Tuesday. The provision of material support to Russia’s military and defense industrial base will have severe consequences regarding their access to the EU market," they added. "Special focus should be put on Western components that are crucial to the Russian military industry," the paper said. "These components are not easily replaced: changing an element in weapons production takes months, due to certification and design processes. A small disruption of these production chains therefore quickly has a significant impact in the Russian ability to produce weapons and military equipment," it said.

☆ European militaries are emptying their arsenals to send heavy-duty howitzers to Ukraine
▼ + stars: | 2023-02-13 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

The US and European countries have sent scores of artillery pieces to Ukraine. Estonia has promised to transfer all 24 of its FH-70 towed 155 mm howitzers. But at least the US and large European militaries, like Britain, France, Germany, or even Sweden, have sufficiently large arsenals to send weapons to Ukraine while still retaining some equipment for their own forces. For example, the US is scrambling to boost production of 155 mm artillery shells as Ukraine fires up to 7,000 shells a day. But expanding manufacturing capacity for artillery shells may take years, while the artillery pieces themselves may not even be in production anymore.

☆ Losses in Ukraine are 'out of proportion' to what NATO has been planning for, the alliance's top general says
▼ + stars: | 2023-02-05 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

NATO leaders have been worried by the heavy casualties and massive ammunition usage in Ukraine. "The scale of this war is out of proportion with all of our recent thinking," NATO's top general said in January. Now the scale and intensity of the fighting in Ukraine has raised questions about the alliance's ability to fight a big-unit war against Russia. "Scale, scale, scale," US Army Gen. Christopher Cavoli, NATO's Supreme Allied Commander Europe, told a Swedish defense conference in January. That Moscow is buying artillery shells from North Korea suggests that Russia's military is no shape to fight NATO and Ukraine.

WASHINGTON, Jan 31 (Reuters) - The United States on Tuesday put new trade restrictions on seven Iranian entities for producing drones that Russia has used to attack Ukraine, the U.S. Department of Commerce said. Iran's mission to the United Nations in New York said: "Sanctions have no effect on Iran's drone production capacity because its drones are all produced domestically. This is a strong indication that the drones shot down in Ukraine and using parts made by Western countries don't belong to Iran." In January, Canada announced it would buy a U.S.-made National Advanced Surface-to-Air Missile System (NASAMS) for Ukraine. The United States has provided two NASAMS to Ukraine and more are on the way.

☆ Putin's favorite mercenary leader may be preparing to justify a failure in Ukraine
▼ + stars: | 2023-01-23 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

A rivalry between Russia's military and Wagner Group mercenaries has come to the fore in Ukraine. Indeed, with curses and excuses, Yevgeny Prigozhin, leader of the Wagner Group and President Vladimir Putin's favorite mercenary leader, may be preparing to justify a failure in one of the fiercest battles of the war: Bakhmut. Rivalry exposedA mural in Belgrade that praises the Wagner group and its mercenaries fighting in Ukraine. Prigozhin was quick to criticize them — another instance of the mercenary leader's long-running challenge to Russia's military leadership. But with tens of thousands of fighters in Ukraine, Prigozhin doesn't seem phased.

☆ The US is scrambling to find what experts say may be the 'most important' hardware Ukraine needs to hold off Russia in 2023
▼ + stars: | 2023-01-19 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

Ukraine and Russia have relied heavily on artillery to batter each other's forces. The US has vowed to ramp its munitions production. The US is buying 100,000 155 mm shells from South Korea that will be sent to Ukraine. Years after post-Cold War defense cutbacks, Europe is striving to supply Ukraine despite limited stockpiles and production capability. Ukraine's shopping list includes 152 mm and 122 mm howitzers, 122 mm rockets, and ammunition for tank cannons.

☆ Only 3 countries have managed to build 5th-generation fighters, but nearly a dozen are already working on 6th-gen jets
▼ + stars: | 2023-01-03 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +12 min

(The recently unveiled B-21 bomber is billed as the world's first sixth-gen aircraft, but little is known about its capabilities.) Lockheed Martin, Northrup Grumman, and Boeing are believed to be competing to build the jets, and all have released illustrations of sixth-gen aircraft. FCAS/SCAFA full-scale model of the Future Combat Air System at the Paris Air Show in June 2019. An illustration of Japan's next-generation fighter aircraft concept. While China is making heavy investment in military aviation, Russia's ability to develop next-generation jets may be shrinking.

☆ Aerospace and defense stocks took flight in 2022. What analysts expect for the sector in 2023
▼ + stars: | 2023-01-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Aerospace and defense stocks took off in 2022, outperforming the S & P 500 as a selloff trend pummeled growth and technology names. Through 2022, the aerospace and defense sub-industry within the S & P 500 rose 15.5%, while the broader index tumbled 19.4%. Here are some of the best-performing aerospace and defense stocks of 2022 and what the outlook looks like in the new year. The top-performing defense stock in the fourth quarter was Boeing , with shares up more than 57%. Raytheon Technologies rose more than 17% in 2022, and analysts are optimistic about the stock in 2023.

The lawmakers are co-sponsors of the National Development Strategy and Coordination Act. That's why we've joined forces to jumpstart a national project to restore American manufacturing leadership. This committee would be charged with developing a National Development Strategy, recommending investments to improve national security, strengthen domestic manufacturing, create good-paying jobs and develop new technologies. Second, our proposal — the National Development Strategy and Coordination Act — would give this committee the authority to direct the Department of Treasury's Federal Financing Bank to achieve its goals. This would bring overdue strategic coordination to our federal loan system and inject much-needed long-term capital into critical industries.

In the mid-1990s, revelations that Israel may have shared U.S. fighter technology with China led Rep. Dave Obey, D-Wisc., to sponsor an amendment banning the not-yet-in-service F-22 stealth fighter from being exported. Unfortunately, this contributed to a negative outcome for the U.S. as well as its potential foreign partners. It’s true some U.S. defense partners maintain significant partnerships with potential military adversaries or may use U.S. arms in objectionable ways. If that happens, it could become impossible to rebuild domestic fighter production capacity fast enough to respond to a crisis. But it’s good for U.S. national security when our allies and partners retain an independent defense technology base rather than allowing their indigenous industries to atrophy.

☆ High demand for children's medications shines a light on fragile US drug supplies
▼ + stars: | 2022-12-12 | by ( Brenda Goodman | ) edition.cnn.com time to read: +13 min

Even when demand is not sky-high, drugs shortages happen regularly – but usually more quietly – in the US. At any time, the reasons why shelves may be empty vary from place to place and from drug to drug. With children’s medications, drug manufacturers say they are running full-tilt, and they planned for some increase in sales over the winter months. The FDA tracks drug shortages too, taking reports directly from manufacturers, but it defines them differently than the pharmacists’ group. The White House says drug shortages are a priority for President Biden’s administration, too.

☆ GCAP: Japan, Britain and Italy team up to build sixth-generation fighter jet
▼ + stars: | 2022-12-09 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

It will showcase technologies from each of the three partners, the British statement said. All three countries are part of the US fifth-generation F-35 stealth fighter program, under which all three fly the F-35 and versions of the warplane are assembled in Italy and Japan. The US also has a sixth-generation fighter jet – known as the Next-Generation Air Dominance (NGAD) program – in the works. It is designed to be the successor to its F-22, which along with the F-35, is considered the world’s top fighter jet. “The Air Force intends for NGAD to replace the F-22 fighter jet beginning in 2030, possibly including a combination of crewed and uncrewed aircraft,” a US Congressional Research document says.

☆ U.S. blacklists companies for aiding Russian military
▼ + stars: | 2022-12-07 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 7 (Reuters) - The Biden administration on Wednesday added 24 companies and other entities to an export control list for supporting Russia’s military or defense industrial base, Pakistan's nuclear activities or for supplying an Iranian electronics company. The companies include Fiber Optic Solutions in Latvia, which produces fiber optic gyroscopes and other equipment and Russia's AO Kraftway Corporation PSC, which calls itself one of the biggest Russian IT companies. Also on the list are Russian AO Scientific Research Center for Electronic Computing, LLC Fibersense, and Scientific Production Company Optolin, AO PKK Milandr; Milandr EK OOO; Milandr ICC JSC; Milur IS, OOO; (OOO) Microelectronic Production Complex (MPK) Milandr; and Ruselectronics JSC and Swiss based Milur SA. The Biden administration also added 10 companies in Pakistan and UAE that it says pose unacceptable risks of using or diverting items for Pakistan's unsafeguarded nuclear activities or are involved Pakistan's "nuclear activities and missile proliferation-related activities." Suppliers of U.S. goods must seek a special a difficult-to-obtain license before shipping to companies added to the list.

☆ U.S. adds 24 companies, entities to export control list
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Dec 7 (Reuters) - The U.S. Commerce Department said Wednesday it is adding 24 companies and other entities to an export control list for support of Russia’s military defense industrial base and or Pakistan's unsafeguarded nuclear activities. The entities are in Latvia, Pakistan, Russia, Singapore and Switzerland. The department cited concerns to U.S. national security and foreign policy concerns. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Plans Broad Increase of Military Presence in Australia
▼ + stars: | 2022-12-07 | by ( Mike Cherney | ) www.wsj.com time to read: +1 min

Australian Deputy Prime Minister and Minister for Defense Richard Marles, Australian Foreign Minister Penny Wong, U.S. Secretary of State Antony Blinken and U.S. Secretary of Defense Lloyd Austin at a joint news conference following an annual meeting among the two countries’ officials. SYDNEY—The U.S. said it would deploy more military assets in Australia, including air, land and sea forces, as the two countries agreed to deepen defense cooperation amid growing concerns about China’s actions in the Indo-Pacific region. Details remain to be worked out, though the two countries said they would place more munitions and fuel in Australia to support U.S. military activity, jointly develop airfields in northern Australia to support more rotations of U.S. aircraft, expand locations where U.S. troops can conduct exercises and further integrate their defense-industrial bases. They invited Japan, another ally, to participate in three-way military drills.

☆ With eye on China, US to boost military forces in Australia – and ‘invite’ Japan to join in
▼ + stars: | 2022-12-06 | by ( ) edition.cnn.com time to read: +4 min

The United States will increase the rotational presence of air, land and sea forces in Australia, including bomber aircraft and fighter jets, US Defense Secretary Lloyd Austin said Tuesday, amid shared concerns about China. Australia’s Northern Territory is already host to frequent military collaborations with the US. Thousands of US Marines rotate through the territory annually for training and joint exercises, started under former President Barack Obama. Just before last year’s AUSMIN talks, the US, United Kingdom and Australia created a security deal, known as AUKUS, that will provide Australia with the technology to deploy nuclear-powered submarines. The two sides said they had further discussions on that issue and Britain’s Defense Minister Ben Wallace will attend a first in-person meeting of AUKUS ministers on Wednesday in Washington.

☆ The US military is scrambling to build more ammo for itself and for Ukraine, but old Army paperwork could get in the way
▼ + stars: | 2022-11-15 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

The issues come to light as the Pentagon is scrambling to ramp up its production of munitions. US military ammunition production — including of bullets, howitzer and mortar shells, and small rockets — is overseen by the Army. Workers with 155 mm artillery rounds at Iowa Army Ammunition Plant in October 2020. Workers perform .50-caliber linked-round inspection at Lake City Army Ammunition Plant in June. A worker inspects rocket tube propellant at Radford Army Ammunition Plant in May 2022.

☆ Yellen heads to India to draw surging economic power closer to U.S. orbit
▼ + stars: | 2022-11-08 | by ( David Lawder | ) www.reuters.com time to read: +4 min

On the contrary, the official told reporters that India will benefit from the cap's lower prices. TENSIONS, ALIGNMENTBut the economic relationship has challenges, including trade disputes over U.S. steel duties and India's retaliatory tariffs on Harley-Davidson (HOG.N) motorcycles. Differences over digital trade and India's data localization rules have dogged trade negotiations for years. "That's a message that's extremely appealing to India," said Richard Rossow, an India expert at the Center for Strategic and International Studies in Washington. The Treasury official said the two democracies were committed "to upholding the rules-based international order at a critical time for the cause of freedom."

☆ Pentagon, U.S. arms makers to meet on labor and supply chain
▼ + stars: | 2022-11-04 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

Prior meetings between Pentagon officials and top arms makers including Lockheed Martin Corp (LMT.N), Raytheon Technologies Corp (RTX.N) and General Dynamics Corp (GD.N) were focused on Ukraine and hypersonic weapon development. Pandemic related supply-chain issues are still hurting defense contractors because components and materials fail to arrive on time, which delays production and ultimately payment. read moreTHE LONGEST POLEIn the meantime, the defense industry is taking steps on its own to shore up supplies and labor. "If I had to boil it down to the longest pole in the tent, it's the labor issues that are pervasive throughout the supply chain," Raytheon Chief Financial Officer Neil Mitchill told Reuters. read moreReporting by Mike Stone in Washington; Editing by Alexandra Alper and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen. And while lower energy use helps Europe weather the crisis sparked by Russia's war in Ukraine and Moscow's supply cuts, executives, economists and industry groups warn its industrial base may end up severely weakened if high energy costs persist. Reuters GraphicsThe International Energy Agency estimates European industrial gas demand fell by 25% in the third quarter from a year earlier. "We are doing all we can to prevent a reduction in industrial activity," an European Commission spokesperson said in an email. "From Jan. 1, we will be able to switch to oil," company executive Wolfgang Ott said, as the company seeks government help to cushion energy costs.

☆ U.S. Defense Strategy Casts China as Greatest Danger to American Security
▼ + stars: | 2022-10-27 | by ( Michael R. Gordon | Brett Forrest | ) www.wsj.com time to read: 1 min

The Biden administration unveiled a new defense strategy Thursday, casting China as the greatest danger to American security and calling for an urgent, concerted effort to build the military capabilities to deter Beijing in the decades to come. The strategy document warns that China is seeking to undermine U.S. alliances in the Indo-Pacific, engaging in coercive activity on Taiwan and is posing a potential threat to the U.S. homeland through its ability to mount cyberattacks against the U.S. industrial base and the system used to mobilize American forces.

☆ With Russia lurking on NATO's southern flank, Italy is working on new jets and new carriers to keep an eye on things
▼ + stars: | 2022-10-11 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +7 min

Protecting NATO's southern flankAn Italian soldier stands guard at NATO's Joint Force Command in Naples in March 2011. MARIO LAPORTA/AFP via Getty ImagesWhile often overshadowed by Europe's other major military powers, Italy is an important part of NATO's defense posture. Russian navy ship Veliky Ustyug at Russia's base in Tartus, Syria in September 2019. US Navy/MCS3 Crayton AgnewItaly's air force and navy both operate the F-35B, the short-takeoff-and-vertical-landing version of the F-35. Italian navy and air force F-35s have already operated together aboard Cavour.

☆ Germany girds for gas supply pain, targets $93 billion price relief plan
▼ + stars: | 2022-10-09 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

Under a second stage of Germany's plan, the brake would cut the gas price to 12 cents from March through to the end of April 2024 on 80% of usage. For large industrial customers, a price brake of 7 cents is to apply to the procurement price from January 2023. Hans Juergen Kerkhoff, president of the German Steel Federation, said the scheme was a key building block to support companies during the energy crisis. Comparison portal Verivox said its calculations showed that the brake proposal would reduce household gas costs by around 41%. "The gas price brake is a very important first step that gives many companies back some confidence that they can overcome the crisis," VCI Managing Director Wolfgang Grosse Entrup said in a statement, calling for an electricity price brake as well.

☆ Republican Toomey blasts Biden's 'irresponsible' use of Cold War-era defense law
▼ + stars: | 2022-09-26 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

Senator Pat Toomey speaks in the Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERSWASHINGTON, Sept 26 (Reuters) - Republican Senator Pat Toomey on Monday blasted President Joe Biden for what he called the increasing and "irresponsible" use of a Cold War-era defense law to boost production of baby food, solar panel components and other non-defense items. Toomey, the top Republican on the Senate Banking Committee, told Biden that using the Defense Production Act in this way disrupted supply chains and violated the intent of the law to make goods available in actual national security emergencies. The 1950 law gives the Pentagon wide powers to procure equipment necessary for national defense. Toomey asked Biden to answer a series of detailed questions about the administration's reasons for invoking the law by Oct. 11.

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