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Lockheed Martin wins FBI database contract
Lockheed Martin built and maintains the FBI’s current ten-fingerprint database, so it was expected to win the contract for the agency’s new database — and it did; contract potential value is $1 billion
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World’s first commercial-scale tidal stream
The tidal farm scheme would be capable of generating 10.5 MW of power drawn entirely from the sea’s major tidal currents; project will be built off the north-west coast of Anglesey, north Wales
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Spain to explore oil reserves on its east coast
Spanish oil company signs up a leading Norwegian engineering company to do infrastructure work for to oil exploration projects off the east coast of Spain
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Chinese hackers target government
The Chinese government has embarked on a massive industrial espionage campaign aimed to hasten China’s rise to global technological and economic dominance while at the same time weakening Western companies; Aussie intelligence says Australia is now also a target of that campaign
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India's Tata Group, U.S. company to manufacture defense equipment
India is worried about China’s growing military might; Indian companies see an opportunity here, and more and more of them are looking to enter the defense market — with U.S. companies as partners; the U.S. government, too, is intensifying its defense cooperation with India
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airBaltic selects cockpit security from AD Aerospace
One key security upgrade which resulted from the 9/11 attacks has been the installation of impregnable cockpit doors; locked doors means that the pilots need other means to monitor area right outside the cockpit — and airBaltic chooses AD Aerospace’s gear for that
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Lumidigm completes $7 million funding round
VCs continue to show interest in biometric technologies; Series C funds will support customer-centric deployments of multispectral imaging fingerprint systems
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Magal Security Systems receives $45 million in contracts
Israeli smart-fencing company receives contracts from several U.S. critical infrastructure operators; recent developments along the Gaza-Stip-Egypt border offer Magal new opportunities
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Emphasis shifts to analytical tools rather than building sturdier walls
The $169 million PayPal paid for Israeli on-line security specialist Fraud Sciences is part of a larger trend in security: “Security is less a matter of keeping everyone outside the outer wall and more one of detecting them sneaking through the premises,” as one analyst put it
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Intel No.1 on EPA Green Power Partner list
Intel will purchase more than 1.3 billion kilowatt hours a year of renewable energy certificates; company said it hoped the record-setting purchase would help stimulate the market for green power
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U.K. Ministry of Defense selects BAE for SSEI
The Software Systems Engineering Initiative (SSEI) aims to reduce the cost and speed up production of the software; the government has identified such software as “the critical enabling technology” for modern platforms; BAE’s Military Air Solutions will lead a consortium to manage the project
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In anxious markets, defense contractors are a safe, stable bet
Market anxiety and worries about recession notwithstanding, U.S. defense companies are doing fine — and expect to be doing fine in the coming year; an analyst says that the defense industry is “a pillar of stability compared to the turbulent markets in other industries”
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New direction charted for wartime contracting
Government watchdog organizations say the cost of the war in Iraq has ballooned, in part, because of the dearth of trained acquisition professionals assigned to the theater and the failure of federal agencies to establish a uniform set of procurement policy guidelines
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American Superconductor's New York grid work moves forward
Massachusetts-based American Superconductor signed a contract to to develop and install new electrical power-grid technology in New York City which would enable Con Edison better to handle power surges and interruptions caused by accidents, weather or terrorist attacks; after government agencies’ squabble, and congressional examination of the contract, DHS tells company to go forward
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Invenergy, GE Energy in $1 billion wind turbine deal
Since 2004, GE’s wind turbine business has grown 500 percent, with its wind business revenues exceeding $4 billion in 2007; half of all wind turbines sold in the United States since 2005 were manufactured by GE
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More headlines
The long view
To Make Children Better Fact-Checkers, Expose Them to More Misinformation — with Oversight
“We need to give children experience flexing these skepticism muscles and using these critical thinking skills within this online context,” a psychology researcher said.
Proof That Immigrants Fuel the U.S. Economy Is Found in the Billions They Send Back Home
Studies indicate that remittances — or money immigrants send back home — constitute 17.5% of immigrants’ income. Given that, we estimate that the immigrants who remitted in 2022 had take-home wages of over $466 billion. Assuming their take-home wages are around 21% of the economic value of what they produce for the businesses they work for – like workers in similar entry-level jobs in restaurants and construction – then immigrants added a total of $2.2 trillion to the U.S. economy yearly. That is about 8% of the U.S. GDP.
Major Lithium Mine Approved in Nevada, Supporting a Domestic Supply of Critical Minerals
Critical minerals are essential building blocks of the modern economy and America’s energy security, from clean energy technologies – like electric vehicle and grid storage batteries and wind turbines – to semiconductors to advanced defense systems and consumer electronics.
Revising the Cost of Climate Change
Climate scientists have warned of calamitous consequences if global temperatures continue their rise. But macroeconomists have largely told a less alarming story, predicting modest reductions in productivity and spending as the world warms. Until now. New study of economic toll yields projections ‘six times larger than previous estimates’.