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  • Obama: Hagel bolstered American leadership     Monday, 24 Nov 2014 | 11:12 AM ET

    President Obama announces the departure of Secretary of Defense Chuck Hagel. Obama says Hagel will stay on until a successor is confirmed.

  • Chuck Hagel forced out as defense secretary     Monday, 24 Nov 2014 | 9:25 AM ET

    NBC News has confirmed Defense Secretary Chuck Hagel will be stepping down, reports CNBC's Eamon Javers.

  • The New York Times is reporting Defense Secretary Chuck Hagel will be stepping down, with CNBC's David Faber.

  • Admiral denies role in counterfeiting casino chips Monday, 24 Nov 2014 | 4:14 AM ET

    WASHINGTON— An admiral linked by Navy investigators to counterfeit casino chips has denied he played any role in making them. Timothy M. Giardina, who was fired last year as No. 2 commander of U.S. nuclear forces at an early stage of a Navy criminal investigation into the counterfeit chips, acknowledged to The Associated Press that he played the fake chips at a poker...

  • Bin Laden son-in-law's lawyer is heading to prison Friday, 21 Nov 2014 | 6:04 PM ET

    SYRACUSE, N.Y.— An attorney for Osama bin Laden's son-in-law has been sentenced to 18 months in prison on tax charges. Stanley Cohen was sentenced Friday in federal court in Syracuse, New York, after pleading guilty to impeding the U.S. tax agency and failing to file tax returns. In September, Cohen's client Sulaiman Abu Ghaith received life in prison for acting as...

  • China immediately denied the charges, saying in a strongly worded Foreign Ministry statement the U.S. grand jury indictment was "made up" and would damage trust between the two nations. The indictment was the first criminal hacking charge that the United States has filed against specific foreign officials, and follows a steady increase in public criticism and...

  • Nov 20- Apparel retailer Gap Inc cut its full-year earnings forecast as sales at the Gap brand continued to fall and demand for the cheaper Old Navy clothing slowed. Comparable sales growth at Old Navy stores slowed to 1 percent from 4 percent in the preceding quarter. The company cut its earnings forecast to $2.73- $2.78 per share from $2.95- $3.00 per share for the...

  • An unmanned firefighter?     Thursday, 20 Nov 2014 | 1:52 PM ET

    Lockheed Martin is pitching its unmanned helicopter, the K-MAX used in Afghanistan, to firefighting agencies. Insight, with CNBC's Jane Wells.

  • Lockheed Martin wants to use its unmanned helicopter--the K-Max--as a firefighting tool. Check out the drone in action in video courtesy of Lockheed.

  • Utah lawmaker questions city water going to NSA Wednesday, 19 Nov 2014 | 6:05 PM ET

    SALT LAKE CITY— A Utah lawmaker concerned about government spying on its citizens is questioning whether city water service should be cut off to a massive National Security Agency data storage facility outside Salt Lake City. Marc Roberts, of Santaquin, said there are serious questions about privacy and surveillance surrounding the center, and several Utah...

  • US Air Force cleared to purchase civilian jet fuel Wednesday, 19 Nov 2014 | 2:16 PM ET
    A KC-135 Stratotanker from Fairchild Air Force Base, Wash., refuels a B-1B Lancer during a training exercise Sept. 23, 2014, over South Dakota.

    The US Air Force just completed an initiative to convert all of its bases from military-specific grade jet fuel to a civilian grade.

  • Senate blocks NSA phone records measure Tuesday, 18 Nov 2014 | 3:39 PM ET

    WASHINGTON— The Senate on Tuesday blocked a bill to end bulk collection of American phone records by the National Security Agency, dealing a blow to President Barack Obama's primary proposal to rein in domestic surveillance. The 58-42 vote was two short of the 60 needed to proceed with debate. The revelation that the spying agency had been collecting and...

  • Toxic plume spreading at defense plant, tests show Tuesday, 18 Nov 2014 | 12:43 PM ET

    Officials revealed this month that the 4.5 mile by 3.5 mile plume of underground contamination in Bethpage is moving deeper than ever. The contamination is emanating from a 600- acre property that was once home to Grumman Aerospace Corp., the U.S. Navy and other associated defense industries. The company says it has spent $120 million and the Navy another $80...

  • Space junk or Russian satellite killer? Tuesday, 18 Nov 2014 | 10:23 AM ET
    File photo of a Russian booster rocket at a launching pad of the Plesetsk Cosmodrome.

    The Russian military has launched a mysterious object that Western space agencies are monitoring for signs of destructive intent. FT reports.

  • Navy secretary racks up 930K miles in world travel Tuesday, 18 Nov 2014 | 3:29 AM ET

    WASHINGTON— The Navy secretary has spent more than a full year of his five-year tenure on overseas travel, racking up more than 930,000 miles on trips that cost the taxpayer more than $4.7 million. Ray Mabus, the former Mississippi governor, has taken at least 40 trips outside the U.S as of July 2014, meeting officials and visiting sailors and Marines in more than...

  • What's stalling the Wall Street rally?     Monday, 17 Nov 2014 | 6:18 PM ET

    With U.S. stocks nearly 2 percent overvalued, investors are worried that markets will see another correction, says Hugh Jackson, Chairman of Hugh Johnson Advisors.

  • NYC adds $140M for transforming Brooklyn Navy Yard Monday, 17 Nov 2014 | 10:52 AM ET

    NEW YORK— The Brooklyn Navy Yard is getting a $140 million infusion of city money to upgrade a massive building from storage space to a workplace for 3,000 employees at companies ranging from a medical diagnostic laboratory to a motorcycle design startup, Mayor Bill de Blasio announced Monday. The new investment in Building 77 will add windows, more elevators...

  • Prosecutors troubled by extent of military fraud Monday, 17 Nov 2014 | 4:11 AM ET

    WASHINGTON— Fabian Barrera found a way to make fast cash in the Texas National Guard, earning roughly $181,000 for claiming to have steered 119 potential recruits to join the military. Barrera's case, which ended last month with a prison sentence of at least three years, is part of what Justice Department lawyers describe as a recurring pattern of corruption...

  • But with budgets already under pressure and deeper cuts looming in fiscal 2016, it remains uncertain if the Pentagon can win support in Congress to speed up the acquisition process and turn the new technologies into game-changing weapons. They are also urging Pentagon officials to keep slashing back bureaucracy, ease barriers for arms exports, and...

  • Hagel: US needs game-changing military innovation Sunday, 16 Nov 2014 | 12:58 AM ET

    SIMI VALLEY, Calif.— Wary of a more muscular Russia and China, Defense Secretary Chuck Hagel said Saturday the Pentagon will make a new push for fresh thinking about how the U.S. can keep and extend its military superiority despite tighter budgets and the wear and tear of 13 years of war. He described a "game-changing" strategy to sharpen American's military edge in...

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