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Huntington Ingalls launches 8th National Security Cutter for Coast Guard

Huntington Ingalls launches 8th National Security Cutter for Coast Guard

Business
Nov. 22 (UPI) -- Huntington Ingalls Industries launched its eighth National Security Cutter vessel, Midgett, for the U.S. Coast Guard on Wednesday.Midgett, a Legend-class cutter, launched off a dock in Pascagoula, Miss., Wednesday morning and will be christened during a ceremony Dec. 9."As the National Security Cutter program continues to mature, we are providing our Coast Guard customer the best ships in their fleet," Ingalls Shipbuilding President Brian Cuccias said. "Our shipbuilders know and understand the importance of quality in building these highly capable cutters so the men and women of the Coast Guard can perform their important national security missions."Legend-class cutters are being designed and procured to replace the service's legacy Hamilton-class cutters, which have been ...
Marines roll out new anti-tank weapon system

Marines roll out new anti-tank weapon system

Business
Nov. 22 (UPI) -- The U.S. Marine Corps Systems Command announced Wednesday that they have begun rolling out new upgraded Light Armored Vehicle Anti-Tank, or LAV-AT, weapon systems to its fleet Marine force.The program office achieved its initial operational goals in September by completing field tests for four upgraded LAV-ATs with 1st Light Armored Reconnaissance Battalion, which is based out of Marine Corps base Camp Pendleton, Calif.The new anti-tank weapon system fires tube-launched, optically tracked, wire-guided BGM-71 anti-tank missiles, or TOW missiles, that are produced by defense contracting company Raytheon and have been in service since the Vietnam War.TOW missiles provide long-range stand-off distance for LAV crews engaging enemy up-armored vehicles such as troop transports an...
Ikea US relaunches furniture recall after child dies

Ikea US relaunches furniture recall after child dies

Business
Ikea has re-launched a recall of millions of chests and dressers in the US and Canada following the death of an eighth child.It said items in its Malm range and other chests and dressers pose a "serious tip-over and entrapment hazard" if not secured to a wall,Ikea first recalled the furniture in 2016 after four children had died. It has no plans for a UK recall, stating that the chest of drawers "meet all mandatory stability requirements". Josef Dudek, a 2-year-old boy in California, died when he became trapped beneath a three-drawer Malm chest after he had been put down for a nap by his father.Since 2011, four other young children have been killed in connection with the Malm range.A further three children have died as a result of other Ikea chests and dressers tipping over, with the earl...
Budget 2017: Hammond to 'seize opportunities' from Brexit

Budget 2017: Hammond to 'seize opportunities' from Brexit

Business
The UK must "seize the opportunities" from Brexit while tackling deep-seated economic challenges "head on", Philip Hammond is to say in his second Budget.The chancellor will promise investment to make Britain "fit for the future" as an "outward looking, free-trading nation" once it leaves the EU in 2019.But he will also commit to supporting hard-pressed families with the cost of living and address housing shortages.Labour say he should call time on austerity and boost public services.In his Commons speech, which will begin at about 12:30 GMT, Mr Hammond will set out proposed tax and spending changes.He will also update MPs on the current state of the economy, future growth projections and the health of the public finances.He has been under pressure in recent months from sections of his par...
UK government borrowing grows in October

UK government borrowing grows in October

Business
UK public sector borrowing rose to £8.0bn in October, official figures show, up £500m from a year earlier.The figure comes a day before the Budget, and the monthly deficit was bigger than economists had predicted.Increased debt costs, linked to the UK's higher inflation since the Brexit vote, were a factor in the shortfall.The Office for National Statistics (ONS) said borrowing for the financial year to date has reached £38.5bn, down £4.1bn from the same period last year.That figure suggests borrowing is on track to come in below the Office for Budget Responsibility's forecast of £58.3bn for the financial year as a whole.Chancellor Philip Hammond will present the latest Budget on Wednesday. He has to balance calls for more government spending against the prospect of weaker future economic