Canceling the $391.2 billion program to build Lockheed Martin Corp.’s F-35 fighter jet is among options the Pentagon listed in its “strategic review” of choices if forced to live with automatic budget cuts, according to people familiar with Defense Department briefings.
Raytheon Co.’s win this week of a $279 million contract to continue developing the U.S. Navy’s new radar-jamming system holds promise for more: It clears the way for as much as $7.4 billion in future work, according to Navy officials.
A shake-up is under way on the congressional committees that oversee national security and defense just days after elections that did little to change the balance of power in the U.S. Senate and House.
The U.S. Navy has two years to convince critics, from lawmakers to some in its own ranks, that its troubled $37 billion Littoral Combat Ship program is worth continuing beyond the 24 vessels already under contract.
Cnooc Ltd., China’s largest offshore oil and natural gas producer, was barred from controlling Gulf of Mexico oilfields under U.S. terms for its $15.1 billion takeover of Nexen Inc., people familiar with the matter said.
The Republican victories in Congress mean U.S. companies from Goldman Sachs Group Inc . to WellPoint Inc . may be able to weaken or block what they consider President Barack Obama ’s anti-business policies on health care, the environment, taxes and financial reform.
Lockheed Martin Corp. said its incoming chief executive officer resigned after the company discovered a relationship with a subordinate and named one of its unit heads to the position starting next year.
Defense Secretary Robert Gates will recommend giving the Marine Corps as much as two additional years to develop its version of Lockheed Martin Corp. ’s F-35 fighter to correct technical and manufacturing glitches that have delayed testing, according to two defense officials.
Lockheed Martin Corp. F-22 fighters haven’t been used over Libya to attack air defenses or counter Libyan jets because they’re not based in the region, U.S. Air Force Chief of Staff Norton Schwartz said.