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WASHINGTON (Reuters) -U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress' cap on the size of the upcoming defense budget compelled the administration to find savings, two sources familiar with the situation said. The Pentagon order for Lockheed Martin's stealthy fighter will drop to below 70, down from an expected order of 83, for an estimated $1.6 billion drop in spending on jets. Lockheed shares fell 2.6% after the news, which was fi

WASHINGTON (Reuters) -U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress' cap on the size of the upcoming defense budget compelled the administration to find savings, two sources familiar with the situation said. The Pentagon order for Lockheed Martin's stealthy fighter will drop to below 70, down from an expected order of 83, for an estimated $1.6 billion drop in spending on jets. Lockheed shares fell 2.6% after the news, which was fi

By Mike Stone WASHINGTON (Reuters) -U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress' cap on ...

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A congressional oversight committee has launched an investigation into the V-22 Osprey program following a deadly crash in Japan on Nov. 29.