The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
SEATTLE, Aug 14 (Reuters) - Sierra Nevada Corp, a privately owned defense contractor with spaceflight ambitions, said on Wednesday it picked United Launch Alliance's Vulcan rocket to launch its Dream Chaser space plane on cargo missions to the International Space Station.
Sierra Nevada Corp (SNC) is one of three companies hired by NASA, the U.S. space agency, to re-supply the orbiting research laboratory under a $14 billion overall award that guarantees each company a minimum of six flights between 2019 and 2024.
The other companies are Elon Musk's Space Exploration Technologies Corp, known as SpaceX, and Northrop Grumman .
SNC's Dream Chaser, which resembles the long-retired Space Shuttle, is slated to blast off from Florida's Cape Canaveral in late 2021 aboard a Vulcan Centaur rocket being built by United Launch Alliance - a joint venture of Boeing Co and Lockheed Martin Corp. Dream Chaser will land like a conventional airplane at Florida's Kennedy Space Center, though Sierra Nevada says it is has been developed to land on conventional airport runways.
The Dream Chaser will be capable of delivering 12,000 pounds of food, water, science experiments and other cargo to the space station, the company said.
In adding SNC as a contractor in 2016, NASA gave the Sparks, Nevada-based firm a major financial and public relations boost after NASA selected rival spacecraft by Boeing and SpaceX to carry astronauts between Earth and the space station.
SNC, owned by Turkish immigrants and billionaires Eren Ozmen and her husband, Fatih, is part of a group of closely held companies aiming to steal market share from space industry incumbents. The company makes most of its money by modifying and integrating aviation equipment into existing aircraft and by selling drones and other technology, primarily to the U.S. Air Force.
SNC declined to disclose how much it was paying ULA for the launches.
United Launch Alliance beat a rival bid from SpaceX, which put up its Falcon rocket, an industry source said. Rival billionaire Jeff Bezos' Blue Origin also had discussions with Sierra Nevada, the person added.
Representatives from SpaceX and Blue Origin did not immediately respond to requests for comment. An SNC spokeswoman declined to comment, but said the company used a "competitive procurement process."
United Launch Alliance is working toward a first flight of its heavy-lift Vulcan in spring 2021, the same year Bezos aims to fly the New Glenn.
SNC argues that the Dream Chaser's ability to land on a traditional runway gives it an edge over rival solutions for delicate scientific research cargo.
SpaceX's Dragon capsules currently splash down in the Pacific Ocean, while Northrop's Cygnus capsules burn up as they fall through the atmosphere, which gives NASA an opportunity to remove trash from the station.
(Reporting by Eric M. Johnson in Seattle Editing by Leslie Adler)