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Report: Japan eyeing SM-6 missiles for defense program

Report: Japan eyeing SM-6 missiles for defense program

Business
Oct. 20 (UPI) -- Japan may add SM-6 missiles to the country's future ground-based defense system to intercept missiles, Yomiuri Shimbun reported.The SM-6 missiles would be in addition to SM-3 Block 2A missiles for defense against ballistic missiles, the Japan News, a Yomiuri Simbun publication, reported. It's all part of the planned Aegis Ashore system, a product of Maryland-based Lockheed Martin.Chinese bombers flying near Japan have prompted to government to protect the island from cruise missiles, a number of government sources told the newspaper.The Japanese government hopes to get two Aegis Ashore systems online in the next six years. The systems' SM-3 Block IIA missiles are a joint project between Japan and the United States. They would compliment the SM-6 missiles by protecting the ...
Police probing controversial RBS division

Police probing controversial RBS division

Business
Police in Scotland are looking into allegations a controversial division of Royal Bank of Scotland (RBS), set up to restore struggling companies to health, broke the law in its dealings with them.More than 90% of the firms put into RBS' Global Restructuring Group (GRG), established after the financial crisis, are understood to have suffered "inappropriate action" against them by the bank, according to a Financial Conduct Authority (FCA) report leaked in August.Police Scotland says it is a scoping exercise that has been under way for several months, rather than an investigation, but they are assessing the allegations for criminality.In a statement, the force said: "Police Scotland can confirm that they have received reports regarding The Royal Bank of Scotland and that enquiries are ongoing...
Government borrowing at lowest September level for 10 years

Government borrowing at lowest September level for 10 years

Business
Britain saw its smallest budget deficit for any September in the last 10 years, according to official figures.Last month's deficit stood at £5.902bn, down almost 11% compared with the same month last year, the Office for National Statistics (ONS) said.With many economists having forecast a deficit of about £6.5bn, the news will be a boost for Chancellor Philip Hammond ahead of next month's Budget.The deficit for August was also revised down by about £1bn to £4.716bn September's figures marked the third straight month in which UK public finances were better than analysts had forecast.The ONS said public sector net debt, excluding state-owned banks, had increased by £145.2bn since September last year to £1,785.3bn, equivalent to 87.2% of gross domestic product.A Treasury spokesman said: "Whi
GA-ASI in cooperative agreements with South Korean entities

GA-ASI in cooperative agreements with South Korean entities

Business
Oct. 19 (UPI) -- General Atomics Aeronautical Systems Inc has signed agreements for collaboration with South Korean entities for remotely piloted vehicles.The agreements were signed with Huneed Technologies Co. Ltd and the Korean Advanced Institute of Science and Technology this week at the aerospace and defense exhibition in Seoul, South Korea.Under a Memorandum of Understanding with Huneed Technologies, the two companies will look to identify common areas of technology, manufacturing, and strategic interests.The execution of this MOU positions Huneed to become a key in-country strategic supplier for GA-ASI in Korea.The MOU with the Korean Advanced Institute of Science and Technology gives GA-ASI opens the door for better understanding of the civil airspace environment of South Korea its ...
Maintenance period drags Norwegian oil production lower

Maintenance period drags Norwegian oil production lower

Business
Oct. 19 (UPI) -- Oil production from Norway last month was far lower than expected, but still above figures from last year, a government agency said Thursday.The Norwegian Petroleum Directorate reported lower sales and lower production, based on preliminary data for September. Preliminary data show oil production was 1.44 million barrels of oil per day, which was about 11 percent lower than expected."The oil production was below the forecast in September due to maintenance work on some fields," the NPD's monthly report read.Preliminary data for September shows a gain over last year of 3.6 percent. Final figures from August show an average daily rate for oil production at 1.56 million bpd. Total discovered and potential resources are up more than 40 percent since 1990.Norway is one of the l...