WASHINGTON (Reuters) – As Arctic ice melts away, opening the way for greater oil development and mining, the White House outlined a plan on Thursday to promote safety and security in the region by building ports, improving forecasts of sea ice, and developing shipping rules.
With warmer temperatures leaving Arctic sea passages open for longer periods of the year, billions of barrels of oil could be tapped beyond what is already being produced in the region. A loss of seasonal ice could also allow greater exploitation of precious minerals considered abundant in the Arctic.
WASHINGTON (Reuters) – Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), maker of surveillance drones and other military equipment, on Thursday reported higher-than-expected quarterly earnings despite a drop in revenues and said share buybacks would drive earnings per share higher in 2014.
Chief Executive Wes Bush told analysts that a two-year budget agreement reached by Congress last year reduced some of the uncertainty that had been hanging over the aerospace and defense sector, and could stave off worse spending cuts in 2014.
WASHINGTON (Reuters) – U.S. arms maker Raytheon Co (RTN.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected earnings in the fourth quarter on Thursday, although revenues fell short of estimates with U.S. military spending in decline.
The company expected sales to drop further in 2014, but it said operating margins, international sales and profits would remain strong, buoyed partly by a sharp rise in pension income.
WASHINGTON, Jan 30 (Reuters) – U.S. arms maker Raytheon Co
on Thursday reported higher-than-expected earnings in
the fourth quarter, although revenues fell short of estimates
with U.S. military spending in decline.
The company expected sales to drop further in 2014, but it
said operating margins, international sales and profits would
remain strong, buoyed partly by a sharp rise in pension income.
WASHINGTON (Reuters) – The U.S. Defense Department and General Services Administration on Wednesday mapped out six broad reforms to improve the cybersecurity of more than $500 billion in goods and services acquired by the U.S. federal government each year.
The guidelines come as the Pentagon’s chief weapons tester warned that military missions remained at “moderate to high risk” since local network operators were not always able to defend networks against determined cyberattacks.
WASHINGTON, Jan 29 (Reuters) – U.S. Air Force and Boeing Co
officials on Wednesday expressed confidence that a $52
billion air refueling program would deliver its first 18 planes
by August 2017 as scheduled, despite a Pentagon report warning
that testing of the new aircraft could be delayed by at least
six to 12 months.
The tanker project known as KC-46, one of the Pentagon’s
biggest arms programs, calls for Boeing to build 179 new planes
for the Air Force to replace the current fleet of 50-year-old
KC-135 tankers. The planes are used to refuel fighter jets and
other warplanes during flight.
WASHINGTON (Reuters) – The U.S. Missile Defense Agency should consider redesigning a key part of its ground-based missile defense system after a series of test failures in recent years, the Pentagon’s chief arms tester said in a new report due to be released Wednesday.
“The flight test failures that have occurred during the past three years raise questions regarding the robustness of the Exoatmospheric Kill Vehicle (EKV),” said the report, referring to the Raytheon Co-built part of the rocket used to hit enemy missiles and destroy them on impact.
NEW YORK (Reuters) – A settlement of a dispute over the canceled A-12 aircraft calls for Boeing Co to build three more EA-18G electronic attack planes for the U.S. Navy, but those jets will not extend the F/A-18 production line in St. Louis, according to Navy officials and company executives.
A new report by the Pentagon’s top arms tester, meanwhile, criticized the Navy for failing to address longstanding deficiencies with the radar used on the F/A-18E/F model of the plane. It said the jet could not be effectively used in certain “threat environments,” although details were classified.
WASHINGTON, Jan 24 (Reuters) – The Pentagon’s F-35 program
office on Friday said it was “laser-focused” on finishing
development of the software needed for the U.S. Marine Corps to
start using its Lockheed Martin Corp F-35 fighter jets
The Pentagon’s chief weapons tester warned in a report
obtained by Reuters and published on Thursday that a possible
13-month delay in F-35 software development, coupled with
maintenance and reliability problems, could delay the Marine
WASHINGTON, Jan 24 (Reuters) – The U.S. Navy on Friday said
it was sticking with Raytheon Co as prime contractor for
next-generation radar-jamming technology seen valued at billions
of dollars in coming years, despite a November ruling by the
U.S. Government Accountability Office (GAO) that upheld a
protest against the award.
Raytheon in July beat out BAE Systems and a team
comprised of Northrop Grumman Corp and Exelis Inc
to win the Navy contract for the jamming system.
The GAO in November backed a BAE challenge of
the contract, which was initially valued at $279 million but
could be worth many multiples of that over coming decades,
according to analysts