Lockheed Martin reports rare profit miss as pandemic hits F-35 deliveries
Written by Reuters -
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The logo of Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, 23 October 2018. - Reuters
Lockheed Martin Corp on Tuesday missed profit estimates for the first time in the last eight quarters as the COVID-19 pandemic disrupted deliveries of the US weapons maker’s F-35 jets and caused supplier delays.
Shares of the company were down about 2.3% after it said fourth-quarter deliveries of its F-35 jets fell to 42 from 51 a year earlier.
Progressive Democrats in Congress have called for cuts in military spending amid the global health crisis, although analysts have said sudden changes are unlikely in an industry that has supported countless jobs during the recession.
By SETH ROBSON AND YOO KYONG CHANG | STARS AND STRIPES Published: January 22, 2021 Protesters failed to block 32 vehicles carrying construction equipment and materials onto a military base Friday in South Korea where the U.S. Army operates a missile-defense system, according to local media. More than 50 people staged a sit-in as trucks approached the former golf course that’s home to a U.S.-built and operated Terminal High Altitude Area Defense system, or THAAD, about 190 miles south of Seoul in Seongju, The Joongang Ilbo, an English-language newspaper, reported. The 4th Air Defense Artillery Regiment assumed the THAAD mission there in October after it was realigned with the 35th Air Defense Artillery Brigade in South Korea.
More than 50 people staged a sit-in in South Korea as trucks approached the former golf course that’s home to a U.S.-built and operated Terminal High Altitude Area Defense system.
When China came for their kimchi, South Koreans knew they had had enough. Over the past several weeks, China’s state-backed
Global Times has turned its crosshairs on Korea’s beloved fermented cabbage dish, running a provocative series of pieces asserting a version of the dish from China’s Sichuan province is the authoritative version, and pointedly reminding Koreans China was the world leader in the kimchi industry.
This affront, unprompted by any dispute, anniversary, or announcement, has predictably outraged the South Korean public and fuelled accusations China was “attempting to steal Korean culture” and acting like a bully. While this episode might seem like a quixotic controversy confined to social media, it exemplifies how overcharged public bluster in China creates obstacles for Beijing’s public diplomacy to trip over.
Why Is the US Saying India Could Face Sanctions for Buying Russian S-400 Missile Systems?
Washington has repeatedly said India is unlikely to get a waiver under the Countering Americaâs Adversaries Through Sanctions Act.
An S-400 Triumf launch vehicle. Photo: Wikimedia Commons
Security20/Jan/2021
New Delhi: The US has yet again warned India that it could face sanctions over it acquiring five Russian Almaz-Antei S-400 Triumf self-propelled surface-to-air (SAM) systems for $5.5 billion.
Senior US officials told Reuters on January 15 that New Delhi was unlikely to get a waiver over Washington invoking its Countering Americaâs Adversaries Through Sanctions Act (CAATSA) on the Indian Air Force (IAF) for its S-400 buy. Reuters reported that this position was unlikely to change under the incoming US administration headed by President Joe Biden that assumed office on Tuesday.