Latest news with #LockheedMartinCorp
NDTV
5 days ago
- Business
- NDTV
Taiwan Completes Sea Trial For 1st Indigenous Submarine In Big Defence Move
Taipei: Taiwan completed the maiden sea trial for its first domestically developed submarine on Tuesday, a major step in a project aimed at strengthening deterrence against the Chinese navy and protecting vital sea lanes in the event of war. Taiwan, which China claims as its own territory, has made the indigenous submarine programme a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert its sovereignty. The submarine programme has drawn on expertise and technology from several countries, including the United States and Britain, a breakthrough for diplomatically isolated Taiwan, whose government rejects Beijing's territorial claims. Taiwan's CSBC Corp, which is leading construction of what is eventually planned to be eight submarines, said in a statement that the first ship, named the Narwhal, had completed its first test at sea, proving systems including propulsion, ventilation and radar. "CSBC will continue to make adjustments and improvements to the systems based on the test results," it said in a statement, showing pictures of the submarine sailing above water off the southern Taiwanese port of Kaohsiung. Underwater tests will follow, with the depth gradually increased, the company added. The Narwhal had been due to be delivered to the navy last year, joining two existing submarines purchased from the Netherlands in the 1980s, but the programme has been hit with delays. Taiwan has said it hopes to deploy at least two such domestically developed submarines by 2027, and possibly equip later models with missiles. The first submarine, with a price tag of T$49.36 billion ($1.67 billion), will use a combat system by Lockheed Martin Corp and carry U.S.-made Mark 48 heavyweight torpedoes. Taiwan's armed forces are dwarfed by those of China, which has two operational aircraft carriers and ballistic missile submarines and is developing stealth fighter jets. Taiwan is modernisising its military to be able to fight "asymmetric warfare," using mobile and agile systems like submarines, drones and truck-mounted missiles to fend off its much-larger adversary China.
Bloomberg
11-06-2025
- Business
- Bloomberg
Pentagon Slashes in Half Its Request for Air Force F-35s
The Air Force has cut in half its request to Congress for its signature F-35s, dealing a blow to Lockheed Martin Corp., the top US defense contractor. A Defense Department procurement request document sent to Capitol Hill this week asked for 24 of the planes, down from 48 that was forecast last year.
Mint
02-06-2025
- Business
- Mint
India-Pakistan conflict: F-16 fighter jet maker Lockheed Martin share price gives zero return in one month
India-Pakistan conflict: India-Pakistan conflict: Shares of Lockheed Martin, the manufacturer of the F-16 fighter jets prized by Pakistan, have remained lacklustre over the past month, following India's Operation Sindoor. During the four-day military conflict with India, which took place in May, Pakistan deployed fighter jets like F-16 and J-10, drones and missiles, but its attempts were successfully thwarted by India's air defence and battle-proven systems. Analysts believe this could prove a setback for the American defence company as it could impact its order book. Against this backdrop, Lockheed Martin, the US defence giant, has remained largely unchanged during this period. The stock edged up just 0.97% in May. 'Even though the US gave F-16 fighter jets to Pakistan for other than war use, there are reports that Pakistan used Lockheed Martin Corp's F-16 and China's J-10 fighter jets during Operation Sindoor last month. However, neither could breach India's air defence system, which would be a massive setback for China and the US,' explained Avinash Gorakshkar, Head of Research at Profitmart Securities. The market is expecting some hit on the order book of these defence companies in the upcoming quarters, said Goranshakr, explaining the weak returns in shares of Lockheed Martin.
Yahoo
21-05-2025
- Business
- Yahoo
Trump's 'Big Beautiful Bill' Advances: Here's Who Wins And Loses
President Donald Trump's sweeping legislative package is, as expected, divisive. Republicans are pitching it as 'One, Big Beautiful Bill.' Democrats are calling it 'one big beautiful betrayal.' Here's a look at some of the bill's key elements. The Winners: The bill seeks to extend The Tax Cuts and Jobs Act (TCJA) of 2017. That means the expiring provisions that benefit high-income and wealthy earners would be permanent. It also seeks to eliminate federal taxes on tips and overtime pay, fulfilling some of Trump's campaign promises. The tax breaks would reduce revenue by $4.9 trillion over the decade, but increase spending on military, defense and border security. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — So, if legislators sign the bill into law, major U.S. defense contractors like RTX Corp. (NYSE:RTX) and Lockheed Martin Corp. (NYSE:LMT) could benefit from increased defense spending. Other companies exposed to the defense sector including Palantir Technologies, Inc. (NASDAQ:PLTR) and Booz Allen Hamilton Holding Corp. (NYSE:BAH) could also benefit from increased military and defense spending. The Losers: The cost of the tax bill will be partially balanced with new taxes on private university endowments and significant cuts to programs like Medicaid. Stocks of major Medicaid managed care organizations could be vulnerable to enrollment volatility and premium pricing challenges if the changes are approved. Investors would be wise to monitor UnitedHealth Group, Inc. (NYSE:UNH), Centene Corp. (NYSE:CNC) and Elevance Health, Inc. (NYSE:ELV) as the bill moves through Congress. Low-income Americans who rely on food assistance should also take note. House Republicans are proposing major changes to the Supplemental Nutrition Assistance Program, or SNAP. The program aids over 42 million Americans. The bill would shift 5% of benefit costs and 75% of administrative costs to states, up from the current 50% share for administration only. It also seeks to expand work requirements to recipients up to age have criticized the move as harmful to families, while Republicans say it promotes work and cuts waste. The House Agriculture Committee has already approved $300 million in SNAP cuts to help fund tax breaks. If the legislative package is passed, it would also be the end of many clean energy initiatives and key tax credits and would impose new fees on electric vehicles. These changes could slow the growth of the clean energy sector and make electric vehicles and renewables less competitive compared to traditional energy sources. Clean energy stocks including Enphase Energy, Inc. (NASDAQ:ENPH), First Solar, Inc. (NASDAQ:FSLR) and Sunrun, Inc. (NASDAQ:RUN) were all sharply lower on Monday as investors digested the potential effects on the industry. The 1,116-page bill also wouldn't quell fears about America's public debt, which currently stands at $36 trillion. According to the nonpartisan watchdog group, the Committee for a Responsible Federal Budget, the bill adds approximately $3.3 trillion to the national debt over the next ten years. What's Next: After advancing out of the House Budget Committee in a rare Sunday meeting by a narrow 17-16 vote, Trump's 'One Big, Beautiful Bill' faces several key steps before it can become law. The next stop is the House Rules Committee, which will meet midweek to set the terms for floor debate, consider possible amendments, and make any necessary last-minute adjustments to the bill before it heads to a full vote on the House floor. If the bill passes the House, it will move to the Senate where it may face additional challenges, as Republican senators are also seeking changes that could complicate final passage. Further changes to the bill are possible as leaders work to secure enough support from both conservative and moderate factions. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share with a $1000 minimum. Photo: Shutterstock Send To MSN: Send to MSN UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Trump's 'Big Beautiful Bill' Advances: Here's Who Wins And Loses originally appeared on
Time of India
14-05-2025
- Business
- Time of India
US agrees to sell Saudi Arabia $142 billion arms package
The United States agreed on Tuesday to sell Saudi Arabia an arms package worth nearly $142 billion, according to a White House fact sheet that called it "the largest defense cooperation agreement " Washington has ever done. The agreement, signed during U.S. President Donald Trump's visit to the Saudi capital Riyadh, covers deals with more than a dozen U.S. defense companies in areas including air and missile defense , air force and space advancement, maritime security and communications, the fact sheet said. "The package signed today, the largest defense cooperation deal in U.S. history, is a clear demonstration of our commitment to strengthening our partnership," the fact sheet said. Continue to video 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by Reuters first reported last month that the arms package would be worth well over $100 billion. Reuters previously reported that Lockheed Martin Corp was expected to sell C-130 transport aircraft, missiles and radars as part of the deal. CEOs from RTX Corp Boeing Co, Northrop Grumman Corp were expected to be in the kingdom, but the White House did not verify any specific equipment or makers as a part of the potential sale to Saudi. Live Events Reuters could also not immediately establish how many of the deals on offer were new. Many have been in the works for some time, sources have told Reuters. Saudi Arabia is the largest customer for U.S. arms. In 2017, Trump proposed approximately $110 billion of sales to the kingdom. As of 2018, only $14.5 billion of sales had been initiated and Congress began to question the deals in light of the murder of Saudi journalist Jamal Khashoggi. Former President Joe Biden's administration tried unsuccessfully to finalize a defense pact with Riyadh as part of a broad deal that envisioned Saudi Arabia normalizing ties with Israel. The White House fact sheet did not mention if Riyadh would be permitted to purchase Lockheed's F-35 jets, the military aircraft that the kingdom has reportedly been interested in for years. The two countries had discussed Riyadh's potential purchase of Lockheed's F-35 jets, two sources briefed on discussions told Reuters. However, it was not clear if Washington would permit the kingdom to move forward with a purchase that would give Saudi Arabia an advanced weapon used by close U.S. ally Israel, one of the sources said. The second source said the qualitative military edge, or U.S. guarantees that Israel receives more advanced American weapons than Arab states, is an issue that "has come up." The sources spoke to Reuters on condition of anonymity. Israel has owned F-35s for nine years, building multiple squadrons. Governments in the Gulf have long sought the most advanced fighter jet, built with stealth technology allowing it to evade enemy detection. If the U.S. did approve the transfer, Saudi Arabia would be only the second Middle East state after Israel to operate F-35 fighters.
