Small proposed US defence hike dismays firms
Some American defence firms looking to foreign governments as a way of boosting sales
Washington
THE people who make jets, aircraft carriers and surveillance technology for the US military thought they were going to cash in when Donald Trump beat Hillary Clinton on Election Day. Now they're not so sure.
In a significant shift from the early months of the Trump presidency - when a bomber-jacket-clad Mr Trump promised a "historic" rebuilding of the military from the deck of an aircraft carrier - top military brass are now saying the buildup likely won't come this year, or even the next.
"We didn't get into this situation in one year, and we aren't going to get out of it in one year," Defense Secretary Jim Mattis said in a June 12 congressional hearing. "We're going to have sustained growth in 2019 to 2023." The comments came as some Repub…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
American Express beats profit estimates on strong spending by wealthy customers
Sheng Siong shareholders press for details on capital allocation, M&A opportunities
Wilmar appoints former minister George Yeo as independent non-executive director
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration