SAN DIEGO— A fourth member of the U.S. Navy has been charged with conspiracy to commit bribery in a multimillion-dollar scheme involving a Singapore- based defense contractor accused of providing cash, vacations, electronics and prostitutes in exchange for classified information.» Read More
Boeing confirms to CNBC that the Air Force has admitted it got its math wrong on how much Boeing's tanker would cost over the long haul. Boeing says this validates what it's been saying for months in challenging the $35 billion contract award to Northrop Grumman and the European parent of Airbus.
It's been a year since I started reporting on "the biggest defense contract of 2007," except now it'll be "the biggest defense contract of 2008." Or maybe 2009. The $35 tanker deal has taken more odd turns than a lost UAV, including...
My post on Lockheed Martin's Chairman and CEO criticizing protectionism and pointing to the Northrop Grumman/EADS tanker award "as reinforcing the openness of U.S. markets," elicited quite a bit of heated email, none of it from Lockheed fans.
Lockheed is the nation's biggest defense contractor. Boeing is second. Stevens, speaking at a defense conference in Brussels, says protectionism is bad, open competition is good, and companies which depend on government regulations to keep out foreign competitors will grow weaker until they are "protected to death."
Harris Corp. says it isn't looking to sell or combine the company with another, despite recent market rumors and reports.
Strong business in the U.S. and rapid organic growth have helped British defence technology group QinetiQ beat expectations with a 20 percent rise in full-year operating profit and raise operating margin targets, CEO Graham Love told CNBC.com.
Strike three for Boeing, after losing another huge contract. The deal to provide the Pentagon with up to a dozen next generation satellites—worth $1.4 billion—went to Lockheed Martin.
Should you bet on defense stocks to keep outperforming the market? Find out what options action suggests.
Finmeccanica, Europe's fourth-largest aerospace and defense company, has approached DRS Technologies, proposing a takeover bid of as much $5.41 billion, sources close to the matter told Reuters.
Iran said on Monday it would not consider any incentives offered by world powers that violated its right to nuclear technology, ruling out a precondition that it suspend uranium enrichment.
Defense giants Boeing and Northrop Grumman keep going at it over the Air Force tanker deal. This as the clock ticks down on a Government Accounting Office investigation into whether the current decision should stand.
Lockheed Martin said Tuesday quarterly profit rose 6 percent, helped by higher sales of its electronic, information and space systems.
Sure, the Pentagon will always be famous for wasting $640 on a toilet seat, but that doesn't mean it isn't looking to make a buck! Next week the Defense Department will sell off 27 million pounds of old warplanes--some going back before Vietnam--to profit from current scrap metal prices.
Australia may delay some of the Lockheed F-35 Joint Strike Fighters it planned to buy because they cost too much. This, even though the Aussies are helping to create the next generation military jet. Wait, you mean there's already a military aircraft being built in part by foreigners?
The new tanker being put forward by Northrop Grumman and EADS is supposed to include a new system to defend itself from attack. Good thing. Seems a lot of defense has been necessary ever since Northrop and the Airbus folks beat out Boeing to win the massive contract.
Northrop Grumman updated analysts with a conference call on the KC-45 tanker program--the $35 billion contract Northrop and EADS beat out Boeing to win. Boeing has filed a protest, and today Northrop said it has completely stopped work on the tanker until a review of the protest is completed by the Government Accounting Office.
We’re talking tankers and sock monkeys, because…we can. In the latest volley over whether or not the Air Force tanker contract should be trashed, Northrop Grumman will hold a conference call Tuesday morning with analysts (reporters can listen) “to discuss the KC-45 tanker program.”
Boeing is reassessing the schedule for the new 787, the company said, an aircraft that some analysts believe will be further delayed.
It's hard being a realtor. To get paid, you have to agonize through the entire deal--spending time and money--and, increasingly, it all falls apart at the end. Even if the transaction is completed, clients start grinding you on the commission. Hey, that's business.
Northrop Grumman said its victory over Boeing for a roughly $35 billion Air Force refueling tanker contract will support thousands of US jobs, firing back at opponents of the deal who take exception with Northrop's partnership with France-based aerospace company EADS.
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