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USS Harry Truman leaves port after three months of maintenance, training

USS Harry Truman leaves port after three months of maintenance, training

Business
March 19 (UPI) -- The aircraft carrier USS Harry Truman departed Norfolk, Va., after a three-month availability for ship maintenance and targeted training. The massive, Nimitz-class aircraft carrier and the accompanying ships in its Strike Group traveled to Canada, Iceland, Great Britain and north of the Arctic Circle on an eight-month deployment last year before returning to Naval Station Norfolk. The vessel then stayed for three months, instead of a short "working port visit," undergoing upgrades to systems, deck restoration, maintenance and to provide targeted training for Sailors. The availability was the first demonstration of the Pentagon's new Dynamic Force Employment plan, devised by former Defense Secretary James Mattis, to keep potential enemies unaware of how long, and where, ...
Jobless rate below 4% for first time since 1975

Jobless rate below 4% for first time since 1975

Business
The unemployment rate has fallen below 4% for the first time since 1975, according to official figures.The Office for National Statistics (ONS) said the jobless rate was 3.9% in the three months to January, down from 4% at the end of 2018. Meanwhile wages excluding bonuses rose by 3.4%, unchanged on the previous month and still outpacing inflation.Unemployment fell by 35,000 to 1.34 million and the number of people in work rose by 222,000 - the fastest pace of hiring in more than three years and nearly twice as strong as economists had expected.The ONS said the employment rate had hit a new record high of 76.1% while the level of economic inactivity - covering people who are neither seeking work nor available for it - hit a record low. ONS senior statistician Matt Hughes said: "The...
Rollover of trade deals with Norway and Iceland secured

Rollover of trade deals with Norway and Iceland secured

Business
The government says trade can continue with Norway and Iceland unchanged if the UK leaves the EU without a deal.That is because agreement has been reached in principle with the two nations as part of the so-called "rollover" process aimed at keeping disruption to a minimum. The Department for International Trade said last month it was trying to replicate 40 deals the UK is currently party to as part of its EU membership - arrangements that account for 11% of total UK trade.But it admitted then that it would not achieve an agreement in time with some important trade partners including Japan or Turkey.International Trade Secretary Liam Fox said via Twitter on Monday night: "Our negotiators have just initialled a trade agreement with Iceland & Norway for the European Economic Area. "T...
Raytheon contracted for SPY-6 radars for DDG 51 Flight III destroyers

Raytheon contracted for SPY-6 radars for DDG 51 Flight III destroyers

Business
March 15 (UPI) -- The U.S. Navy awarded Raytheon a $ 402.6 million contract for SPY-6 radars. The company received options for the Air and Missile Defense Radar Program low-rate initial production, the Department of Defense and the company announced Thursday. Under the modification, Raytheon will provide three AMDR LRIP units to be deployed on the latest version of the Arleigh Burke-class of guided missile destroyers, the Flight III. Work will be performed in Marlborough, Mass., and is expected to be completed by March 2023. Navy fiscal 2019 shipbuilding and conversion funding in the full amount will be obligated at time of award and will not expire at the end of the current fiscal year. The SPY-6 is the U.S. Navy's next generation integrated air and missile defense radar, replacing the...
Comcast-backed fund vies for UK effects star

Comcast-backed fund vies for UK effects star

Business
By Mark Kleinman, City editor Goldman Sachs and an investment firm backed by Comcast, the new owner of Sky, are vying to buy a British visual ‎effects producer whose credits include the Hollywood blockbusters Gravity and Interstellar.Sky News has learnt that Goldman's principal investment unit and Atairos, an independent fund whose investors are led by Comcast, are close to tabling offers for Foundry. The imminent bids, which are expected to value Foundry at up to £350m, will come more than four months after Hg Capital, its current owner, hired advisers to explore a sale.Foundry, which counts Google, Pixar and Sony Pictures Imageworks among its clients, is accustomed to private equity ownership, having been sold to Hg in 2015 by Carlyle, another ...