News That Matters

Tag: work

Coronavirus will transform UK work and travel, says AA

Coronavirus will transform UK work and travel, says AA

Science
The aftermath of the Covid-19 crisis will transform the way we live, work and travel in the UK, the AA says.It predicts a permanent reduction in the demand for travel because people have learned during the crisis to use home-working technology. The implications are profound for commuters and for government finances.The chancellor currently plans to spend £27bn to curb congestion on roads and £100bn on HS2 – but if demand falls, that may not be needed.AA President Edmund King says anecdotal evidence from people lucky enough to be working during the coronavirus-enforced lockdown suggests that infrastructure funds might be better spent on broadband to support home working. What if your job is bad for the planet? HS2 costs 'got carri
Raytheon awarded $641.3M for work on Tomahawks for Navy

Raytheon awarded $641.3M for work on Tomahawks for Navy

Business
March 27 (UPI) -- Raytheon Missile Systems received two contracts totaling $ 641.3 million Friday for work on Tomahawk Missiles for the Navy, according to the Department of Defense. The Tomahawk cruise missile launches from ships and submarines and can strike targets precisely from 1,000 miles away, according to Raytheon. The Block IV has a data link that allows it to switch targets while in flight, and can loiter for hours and change course intantly on command, where Block V series will include upgraded navigation and communication. The first of the two deals, for $ 493.4 million, recertification and modernization of Tactical Tomahawk Block IV all-up round missiles to update their navigation and communication kits. Just under half of work on the contract will be performed in Tucson, Ari...
DoD urges defense contractors, subcontractors to stay at work

DoD urges defense contractors, subcontractors to stay at work

Business
March 20 (UPI) -- A Friday Department of Defense memo signaled that defense contractors and their suppliers are "critical infrastructure" and urged them to stay on the job amid the outbreak of the novel coronavirus. "If you work in a critical infrastructure industry, as designated by the Department of Homeland Security, you have a special responsibility to maintain your normal work schedule," Undersecretary of Defense for Acquisition and Sustainment Ellen Lord wrote in a Friday memo, Defense News reported. "We need your support and dedication in these trying times to ensure the security of this Nation. I understand that this national emergency presents a challenge and we are dedicated to working closely with you to ensure the safety of the workforce and accomplishments of the national se...
Goldman Sachs CEO David Solomon gets a 20% raise to $27.5 million for his work in 2019

Goldman Sachs CEO David Solomon gets a 20% raise to $27.5 million for his work in 2019

Finance
Goldman Sachs CEO David Solomon got a 20% raise to $ 27.5 million for his work leading the bank in 2019.His pay package includes a $ 2 million annual salary, $ 7.65 million in a cash bonus, and $ 17.85 million in performance-linked stock units, the New York-based company disclosed Friday in a filing. The bank said that Solomon earned a raise from his 2018 compensation of $ 23 million because he "successfully executed on his priorities in his first full year" leading Goldman, including unveiling a strategic overhaul at the firm's first investor day in January."He led our development of the firm's three-year business plan and a clear long-term strategy that leverages our foundational advantages, enhances the firm's long-term mindset and instills a culture of innovation," the bank s...
Lockheed nabs $601.3M for work on Trident II D5 ballistic missile

Lockheed nabs $601.3M for work on Trident II D5 ballistic missile

Business
March 19 (UPI) -- Lockheed Martin has been awarded a $ 601.3 million contract modification for work on the Trident II D5 submarine-launched ballistic missile for the Navy, according to a Pentagon announcement. The deal modifies an earlier contract for production and support of the missiles, which were first deployed in 1990. The missiles have undergone constant improvement since the Navy announced a life extension program to make the missiles usable until 2040, with the most recent life extension contract being awarded in February. One-third of work on the contract will be performed in Magna, Utah, with other parts of the contract being executed in a variety of locations around the United States, including Sunnyvale, Calif., Denver, Colo., and Cape Canaveral, Fla., with an expected compl...