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Trump plays down fears of US recession

Trump plays down fears of US recession

Business
Donald Trump has tried to reassure markets about the risk of the US falling into a recession by saying the economy is doing "tremendously well".The US president said he did not see a recession - usually defined as when an economy shrinks for two consecutive quarters.White House economic adviser Larry Kudlow also said there was "no recession in sight".Last week, financial markets indicated a recession could be on the way.This is because it became cheaper for the US government to borrow for 10 years, rather than two. This "inverted yield curve" often comes before a recession, or at least a significant slowdown in economic growth.Are markets signalling that a recession is due?However, speaking to reporters on Sunday, Mr Trump said: "I don't see a recession. ...
Lockheed nets $80M contract for Aegis system upgrades

Lockheed nets $80M contract for Aegis system upgrades

Business
Aug. 16 (UPI) -- Lockheed Martin received an $ 80 million contract from the U.S. Navy for electronic equipment upgrades to the Aegis missile system, the Pentagon announced. The new contract modification, announced Thursday by the Department of Defense, calls for Lockheed Martin's Rotary and Mission Systems division to cover the production, test and delivery of multi-mission signal processor equipment sets, electronic equipment fluid coolers, AEGIS Weapon System AMOD [Aegis Modernization] upgrade equipment and Kill Assessment System equipment and spare parts. The deal calls for the Navy to underwrite 78.1 percent of the expenses, with Australia and Japan, where some of the equipment is located, to pay for 21.9 percent. The Aegis Combat System is an integrated naval weapons system using ra...

Lime and soda? No thanks, say non-drinkers

Business
The days of lime and soda are over. "Sugary, carbonated or fruit-based juice drinks just won't do" for those seeking a booze-free alternative.At least, that is the view of Seedlip, which claims to be making the world's first distilled non-alcoholic spirits."We exist to solve this dilemma. What do you drink when you're not drinking?" says Ben Branson, founder of the Chilterns-based business. It is a conundrum that traditional drinks firms are also trying to crack.Diageo, the world's largest spirits maker, has just bought most of Seedlip. And industry experts say it is not alone in trying to find ways to tap into the non-alcohol sector.Rival Pernod Ricard, for instance, has done a deal to distribute non-alcoholic spirit Ceder and l...
FLIR Surveillance awarded $12.6M for sensors aboard littoral combat ships

FLIR Surveillance awarded $12.6M for sensors aboard littoral combat ships

Business
Aug. 16 (UPI) -- FLIR Surveillance Inc. received a $ 12.6 million contract for supplies, repairs and upgrades to sensor systems aboard U.S. Navy littoral combat ships. The contract, announced Thursday by the Defense Department, refers to FLIR's Saffire III Electro-Optics Sensor Systems. The systems offer image stabilization, long-range and thermal imaging and color and low-light cameras. The systems are useful in search and rescue operations, reconnaissance, border and coastal patrol and target identification, the manufacturer said. Thousands of the ball-shaped 22-pound systems, which attach to horizontal planes of a vessel or aircraft, have been affixed to helicopters and fixed-wing aircraft, as well as on the shallow-water littoral combat ships. The unit includes an optional sensor sys...
Hong Kong protests: ‘We don’t want to leave but may have no choice’

Hong Kong protests: ‘We don’t want to leave but may have no choice’

Business
Hong Kong seemed an obvious place for co-founders Jamie Wilde and Taylor Host to set up their artificial intelligence start-up.They had lived there for several years and knew the financial hub well. "It's a business-friendly jurisdiction, easy to build a professional team and it's easy to raise financing here," British-born Mr Wilde says.The co-founders set up Miro in Hong Kong in 2017. The firm uses artificial intelligence and computer vision to gather data for sportswear companies to enable them to target consumers more effectively.Business was looking up, sales were growing and investors from the US were keen to invest in the start-up. But then Hong Kong got hit by a double whammy: it became caught in the cross-fire of the US-...