The Biden administration will request a 1% increase in defense spending, to $849.8 billion, for fiscal year 2025, officials familiar with the matter said, scaling back plans for a bigger boost as it grapples with caps imposed by last year’s debt-limit deal. The cuts reflect a decision to seek less money for procurement and research … Read more
Boeing will not be bringing any commercial planes to the Singapore Airshow, shifting the spotlight for passenger jets to rival Airbus as well as China’s homegrown offering. “The industry contacts we speak to believe the problems at Boeing, specifically the 737 Max, present an early opportunity for Comac,” Northcoast Research analyst Chris Olin told CNBC. … Read more
China announced fresh sanctions on five US defense industry companies, in response to the latest arms sales deals to Taiwan. The companies affected include BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions, the Chinese foreign ministry said in a statement Sunday. The measures consist of freezing the properties of … Read more
NASA astronaut Frank Rubio peers out of a window aboard the SpaceX’s Crew Dragon spacecraft Freedom while docked to the International Space Station. NASA CNBC’s Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC’s Michael Sheetz reports and curates the latest news, investor updates … Read more