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  • SAO PAULO, July 30- Brazilian planemaker Embraer SA said on Thursday it will delay development of a military cargo jet and forgo $300 million of revenue this year due to Brazil's weaker currency and defense spending cuts, triggering the biggest drop in its shares in nearly four years. Embraer now plans to deliver its first KC-390 cargo aircraft to the Brazilian...

  • U.S. Navy chief nominee vows focus on procurement costs Thursday, 30 Jul 2015 | 10:07 AM ET

    Richardson, director of the Navy's Naval Nuclear Propulsion Program, told the Senate Armed Services Committee that if confirmed as the Navy's top uniformed officer, he intends to continue his practice of being personally involved in acquisition policy, setting clear standards and then enforcing them. Described as a "bold thinker" by Defense Secretary Ash...

  • Medical records firm wins massive Defense contract Thursday, 30 Jul 2015 | 1:31 AM ET
    The Pentagon

    The Defense Department has tapped medical records firm Cerner and its partners Leidos and Accenture to help overhaul the military's massive health IT system.

  • WASHINGTON, July 29- The U.S. Defense Department on Wednesday awarded a team led by Leidos Holdings Inc a contract valued at up to $4.34 billion to build a new electronic health record system for 9.6 million current and retired military service members. The Pentagon's chief arms buyer, Frank Kendall, said the contract was worth under $9 billion over the next 18...

  • BRASILIA, July 29- Sweden has agreed to reduce the cost of financing a $5.4 billion sale of 36 Gripen fighter jets to the Brazilian Air Force, Brazil's Defense Minister Jaques Wagner said on Wednesday. The first Gripens should be delivered to Brazil in 2019. Saab plans to set up a Brazilian assembly line producing the fighter jets through 2024 in partnership with...

  • BRASILIA, July 29- Brazil has reached agreement with the Swedish government to reduce the cost of financing a $5.4 billion sale of 36 Gripen fighter jets to the Brazilian Air Force, a Brazilian Defense Ministry spokeswoman said on Wednesday. The first Gripens should be delivered to Brazil in 2019. Saab plans to set up a Brazilian assembly line producing the...

  • SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...

  • Cramer's Stop Trading: General Dynamics & Northrop Grumman

    CNBC's Jim Cramer explains why he is watching defense stocks.

  • NEW YORK— A U.S. judge indicated Tuesday that he was unlikely to boost a $654 million jury award to victims of terror attacks in Israel over a decade ago to more than $1 billion by tacking on interest against the Palestine Liberation Organization and the Palestinian Authority. On Monday, an official with the U.S. Department of Justice in Washington wrote to...

  • LONDON— Scientists and tech experts— including professor Stephen Hawking and Apple co-founder Steve Wozniak— warned Tuesday of a global arms race with weapons using artificial intelligence. Those signing letter included Elon Musk, Tesla Motors CEO; Demis Hassabis, who founded Google DeepMind; and Noam Chomsky, an emeritus professor at MIT.

  • HARTFORD, Conn.— The Justice Department has launched a criminal probe into allegations that subsidiary helicopter maker Sikorsky and two subsidiaries overbilled the Navy, United Technologies Corp. said Friday. The government filed a complaint last October in federal court that Sikorsky and subsidiaries, Derco Aerospace and Sikorsky Support Services...

  • July 24- The U.S. Department of Justice has informed Sikorsky Aircraft that it has started a criminal investigation into allegations the helicopter maker overbilled the U.S. Navy for a contract, Sikorsky's parent company, United Technologies Corp, said on Friday. The Justice Department told Sikorsky of the probe on July 13, and requested that Sikorsky and two...

  • July 24- The U.S. Department of Justice told Sikorsky Aircraft that it had started a criminal investigation, alleging that the helicopter maker had overbilled the U.S. Navy for a contract. The DOJ informed Sikorsky of the probe on July 13 and said it is seeking about $148 million in claims, Sikorsky's parent United Technologies Corp said in a filing on Friday.

  • Japan PM uses offbeat PR blitz to rescue ratings Thursday, 23 Jul 2015 | 8:59 PM ET
    Japan's Prime Minister Shinzo Abe

    Japan's PM Abe is using anime, Internet chats and an unusual show-and-tell TV appearance to persuade wary voters that his bolder defense policy makes sense.

  • Defense Department chooses Rochester for photonics center Wednesday, 22 Jul 2015 | 5:02 PM ET

    ROCHESTER, N.Y.— The Department of Defense has picked Rochester as the location for a sought-after manufacturing hub focused on the field of integrated photonics, U.S. The New York Democrat called the project a "game-changer" for Rochester. He compared it to the founding of photography pioneer Kodak in the western New York city more than 100 years ago.

  • July 22- Boeing Co reported a better-than-expected quarterly profit, helped by booming demand for commercial aircraft. The results include a $536 million charge to account for problems with the fuel system on the KC-46A aerial refueling tanker it is developing for the U.S. Air Force. Boeing has said the program remains on track for delivering the initial 18...

  • NEW YORK— Aerospace giant Boeing Co. saw its earnings plunge by a third in the second quarter because of repeated delays with a military fuel tanker. The Chicago- based company on Wednesday posted a $1.11 billion net profit, down from $1.65 billion during the same period last year. The bulk of that drop is attributed to a $536 million after-tax charge Boeing took on...

  • SAN FRANCISCO, July 21- A pair of veteran cybersecurity researchers have shown they can use the Internet to turn off a car's engine as it drives, sharply escalating the stakes in the debate about the safety of increasingly connected cars and trucks. Former National Security Agency hacker Charlie Miller, now at Twitter, and IOActive researcher Chris Valasek used...

  • Lockheed to buy United Tech's Sikorsky for $8B Monday, 20 Jul 2015 | 2:03 AM ET
    A Black Hawk S-70i helicopter, manufactured by United Technologies Corp.'s Sikorsky Aircraft unit

    Lockheed Martin has agreed to buy United Technologies' Sikorsky Aircraft for over $8 billion, two sources said on Sunday.

  • Iran nuke deal could set off an arms race Friday, 10 Jul 2015 | 2:40 PM ET
    Two Iranian navy warships dock in the Sudanese Red Sea city of Port Sudan.

    An Iran nuclear deal could mean a possible arms race in the Middle East——or improved relations between historic enemies, experts say.

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