Business/Financial

Northrop Grumman [NOC] President and CEO Wes Bush yesterday was named the company’s chairman effective immediately. Bush succeeds Lew Coleman, who has served as non-executive chairman since January 2010. Coleman, […]

The House Armed Services Committee (HASC) chairman blasted yesterday a bipartisan Senate plan for cutting the deficit that he said calls for $866 billion in security cuts over 10 years. […]

L-1 Identity Solutions [ID] yesterday that a United States oversight group has approved its acquisition by France’s Safran Group with the deal expected to close within five business days. L-1 […]

The nominee to serve in a top global-strategy post at the Pentagon said yesterday she views some malicious infiltrations of computer networks as acts of war that could potentially warrant […]

Similar to a move it made a year ago, Lockheed Martin [LMT] yesterday announced a voluntary layoff program for its corporate headquarters and related enterprise business support staff in an […]

General Dynamics [GD] yesterday said it has acquired Network Connectivity Solutions, Corp. (NETCONN), a small information technology firm that specializes in enterprise and cloud computing services. GD said that NETCONN […]

Virginia Gov. Robert McDonnell (R) yesterday said ITT Corp.’s [ITT] Defense & Information Solution business segment will invest as much as $5 million to create a new corporate headquarters in […]

President Barack Obama said last Friday he stands by his desire to slash “hundreds of billions” more in longterm defense spending than his previous goal of a $400 billion cut […]

ITT Corp. [ITT] yesterday said it the name for the future defense company that will result from the spin-off this year of its defense operations will be ITT Exelis and […]

The Pentagon’s first-ever cybersecurity strategy calls for strengthening defenses and reducing incentives for attacks, outgoing Deputy Defense Secretary William Lynn said yesterday. The Pentagon released its unclassified Department of Defense […]