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Business/Financial

RTX In Nearly $1 Billion Settlement With U.S. Government To Resolve Fraud, False Claims, Bribery Charges

By Cal Biesecker

Wednesday, October 16th, 2024

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RTX In Nearly $1 Billion Settlement With U.S. Government To Resolve Fraud, False Claims, Bribery Charges

Patriot Guidance Enhanced Missile. Photo: RTX

The U.S. government on Wednesday said it has resolved several legal matters with RTX [RTX] requiring the defense contractor to pay more than $950 million in penalties. The allegations against Raytheon, which was acquired in 2020 by the former United Technologies Corp. to form RTX, were previously disclosed. RTX said in a statement that “The financial impact of these matters is consistent with the reserve announced in the Company’s July 2024 quarterly earnings report.” RTX next Tuesday will report third…

Army

Army Relooking At Its ‘Whole Aviation Transformation’ Plan, Acting Chief Tells Lawmakers

The Army is relooking at its “whole aviation transformation initiative,” the service’s acting chief of staff told lawmakers on Tuesday, to include its approach for future procurement of “enduring” platforms. […]

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]