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SpaceX has won a lucrative contract to provide the US military with a means of distributing space-based sensing and targeting data, forming the “backbone” of a rearchitected network after separate Pentagon initiatives stalled, officials announced Tuesday. Space Systems Command, the Space Force’s primary procurement and acquisition center, announced the $2.29 billion firm-fixed-price agreement, confirming long-simmering reports that the Pentagon was likely to tap SpaceX for a new communications network in low-Earth orbit. SpaceX’s selection for the Space Data Network (SDN) Backbone contract “accelerates the delivery of a resilient, high-speed communications network in space,” Space Systems Command said in a statement.…
U.S. President Donald Trump speaks during a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. Evan Vucci | ReutersPresident Donald Trump on Wednesday poured cold water on the prospect of Iran transferring its store of highly enriched uranium to Russia or China as part of any deal to end the war with the U.S.”No, I wouldn’t be comfortable” with that arrangement, Trump said during a Cabinet meeting at the White House.The Kremlin, which has the world’s largest stockpile of nuclear weapons, has previously said it would accept Iran’s enriched uranium to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The former leader of Northern Ireland’s Democratic Unionist Party asked a woman who accuses him of sexual assault “for forgiveness”, the prosecution has claimed, at the start of his trial on Wednesday.Sir Jeffrey Donaldson, who was in attendance in Newry Crown Court, is accused of 18 historic sex abuse charges involving two alleged child victims.Donaldson, 63, denies one charge of rape, four counts of gross indecency and 13 counts of indecent assault against two women between 1985 and 2008.The court heard that…
Boeing CEO Kelly Ortberg said Wednesday that the company has met requirements set by the Federal Aviation Administration to increase its production of 737 Max aircraft to 47 jets per month.The company is currently rolling out aircraft at a rate of 42 per month, Ortberg said at a Bernstein conference. “We’ve passed the capstone review for rate 47, so we are now in the process of running the line at the 47-a-month rate,” Ortberg said. “It’ll probably take us a few months of stabilization there. … My guess is we continue to go up in rate. It may take a…
Boeing increasing 737 production after consulting FAA Source link
An Amazon device is displayed at an Amazon Devices launch event in New York City on Feb. 26, 2025.Brendan McDermid | ReutersAmazon has been using homegrown artificial intelligence technology to help users compare products and buy or reorder items on their behalf. Now the company is licensing that technology to other retailers, as it vies to be the backbone of AI shopping across the web. In a blog post Wednesday, Amazon said it’s taking the “architecture, starter code and learnings” from Alexa for Shopping and packaging it together for the rest of the retail industry. The new service allows retailers…
Ukrainian-born Romanian national Stanislav Carpiuc is accused of conspiring to set fire to a car linked to the prime minster. Source link
Stay informed with free updatesSimply sign up to the Financial services myFT Digest — delivered directly to your inbox.The writer is the chief executive of PimcoEurope needs capital and plenty of it. By some estimates, its annual funding needs will top €1tn a year from now until 2030, leaving a large gap between its spending plans and how much it raises in revenue.Government finances are stretched, and banks can’t bridge that gap alone. They already represent 85 per cent of Europe’s corporate lending. There is broad agreement — from Mario Draghi to Enrico Letta to the European Commission itself —…
U.S. stocks may be running out of room after a relentless rally, according to Bank of America strategists, who are warning investors to start preparing for a summer pullback. The bank said the S & P 500 has already reached its year-ahead target of 7,430, and several technical indicators suggest the advance is becoming stretched — prompting a shift away from chasing gains and toward protecting them. “Risk-reward is deteriorating, and multiple indicators favor a more defensive stance,” Bank of America strategists wrote in a note to clients. “Base case: maintain trend-following longs into June, prepare for summer correction.” .SPX…
FAA orders SpaceX Starship probe after booster failure on May 22 – TechCrunch Source link