Defense Budget News
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BAE Systems Plc, Europe’s largest defense company, nominated former U.K. business-lobby executive Roger Carr as chairman to replace Dick Olver, who drew investor ire last year over the failed merger with EADS.
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The House panel responsible for defense expenditures plans to approve a $98.3 billion weapons request for fiscal 2014 that adds money for Blackhawk helicopters made by United Technologies Corp. and Patriot missile interceptors from Lockheed Martin Corp.
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Congress will take a close look at the Pentagon’s $34 billion Littoral Combat Ship program and may consider restrictions on the Navy’s $2 billion request to buy four vessels in fiscal 2014, Representative Randy Forbes said.
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China, which has the world’s second- largest military budget behind the U.S., expanded its nuclear- weapons arsenal last year, with India and Pakistan also bolstering their stockpiles, a research institute said.
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U.K. Defence Secretary Philip Hammond, who has yet to agree on cuts to his department’s budget, said he wants an “adult conversation” with Chancellor of the Exchequer George Osborne, highlighting tensions in government over spending.
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The Memorial Day commemoration today honors the 1.25 million Americans who have fallen for their country. It also affords an opportunity to show concern for living service members, active and retired.
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The Pentagon is asking Congress to approve a plan shifting about $9.6 billion in this year’s defense budget to priority projects, mostly to pay for greater- than-expected Afghanistan war and transportation costs.
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U.K. lawmakers said Prime Minister David Cameron’s defense budget may lack an adequate reserve against cost overruns, possibly resulting in troop reductions and deeper cuts.
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Israeli Prime Minister Benjamin Netanyahu will meet today with senior ministers to decide on defense spending for the 2013-2014 budget, according to a government official.
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Israeli Prime Minister Benjamin Netanyahu’s Cabinet approved a two-year budget of 796 billion shekels ($220 billion) that cuts defense outlays and raises taxes to keep deficit spending within government targets.
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