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...The missiles are built by US defence contractor Lockheed Martin, using rocket motors from rival Northrop Grumman....
...Campaign clips Biden plans to intervene in Japanese group Nippon Steel’s proposed $14.9bn acquisition of Pennsylvania-headquartered US Steel....
...And Rishi Sunak, true to form, avoided making headlines in a one-and-a-half-hour grilling at the liaison committee....
...Less visible, but just as important, has been the parallel loss of the administrative capability that councils require if they are to implement plans aimed at reversing chronic economic decline....
...China’s excess savings: How Beijing manages these savings is likely to be the most important single determinant of global interest rates and the global balance of payments, writes Martin Wolf....
...Here’s more on the plan to build a temporary port in the Mediterranean. 3....
...Yet Lockheed Martin, whose anti-tank missiles are used in Ukraine, reported a drop in revenue and net income last year and another earnings dip in the first quarter....
...A share in Apple costs $178, and a share of defence giant Lockheed Martin costs $418. Warren Buffett’s Berkshire Hathaway is priced at more than $500,000 a share....
...Chinese investors face an “ugliness contest” over where to put the huge level of savings, says one expert....
...Lockheed, as it was known before its merger with Martin Marietta, withdrew from the commercial market in the 1980s, and a weakened McDonnell Douglas combined with Boeing in 1997....
...martin.wolf@ft.com Follow Martin Wolf with myFT and on Twitter...
...US defence group Lockheed Martin recently sold off two exploration contracts it held on behalf of the UK....
...EY’s US business is to embark on a $500mn cost-saving programme after its opposition torpedoed plans for a historic split of the Big Four firm....
...Lockheed Martin is forecast to have earned $7.37 a share on revenue of $18.27bn in the fourth quarter, compared to $7.47 a share on revenue of $17.73bn during the same period of 2021....
...Investors will be looking for comments from Lockheed Martin (reporting on Tuesday) and Northrop Grumman (whose numbers are out on Thursday) to see if these promises will actually generate future revenues...
...Martin says that discovery phases that would usually take around four years have taken Generate 16 months....
...US defence contractors Lockheed Martin and Raytheon also report earnings as demand for their products surges. 3M, Johnson & Johnson and General Electric also report....
...Fed chair Jay Powell was on the line, along with FDIC head Martin Gruenberg, acting comptroller of the currency Michael Hsu and San Francisco Fed president Mary Daly....
...Martin Weale: Easing planning laws....
...That is now the case in the UK, Martin Wolf writes, where the need for faster growth is existential but politicians seem unable to respond....
...Second, while this is not a growth plan, it is a plan for inequality and insecurity....
...BMO’s Seigerman says not covering a drug that is potentially life-saving will be “unethical”....
...The US aerospace group on Thursday said it will shift its base to Arlington, Virginia, joining fellow military contractors Lockheed Martin, Northrop Grumman and General Dynamics in the Washington suburbs...
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