Virgin Orbit inked a new launch contract covering two dedicated launches for Arqit Quantum, Inc., a quantum encryption technology provider. Financial terms were not disclosed. Virgin Orbit is a responsive launch and space solutions company that declared a special purpose acquisition company (SPAC) merger with NextGen Acquisition Corp II. The two Arqit satellites delivered to Earth orbit by Virgin…
Penn State Awards Coach James Franklin’s $70 Million Contract Without Full Board Vote
When Penn State football coach James Franklin’s new $70 million contract was announced on Nov. 23, it was a surprise to some on the 36-member Board of Trustees. The full board, which makes major decisions about the university, never voted on the contract, and some board members told The Epoch Times they knew nothing about…
Kopin Scoops $19.8 Million Contract From US Army
Kopin Corp. announced on Wednesday that it has won a $19.8 million order for its eyepiece subassembly, a critical component in the U.S. Army’s Family of Weapon Sight-Individual (FWS-I) thermal sight system. It marks the second-largest production order received by Kopin for the FWS-I eyepiece subassembly. The order has scheduled deliveries of the FWS-I eyepiece…
Musk Says Tesla Has Not Signed a Contract With Hertz Yet, Halts Stock Rally
November 2, 2021
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Tesla Inc. top boss Elon Musk said the electric carmaker had not signed a contract with Hertz, more than a week after the car rental firm announced a massive deal with the electric car company. Tesla’s shares fell 5 percent to $1,146 in premarket trading, after a steep jump following the news of the biggest-ever…
Swiss Court Rejects Google Appeal Over Cloud Contract
October 20, 2021
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ZURICH—A Swiss court has dismissed Google’s bid to block the award of a government cloud computing contract worth up to 110 million Swiss francs ($119 million) to rival bidders. “In an interim decision, the Federal Administrative Court rejects Google’s request to grant suspensive effect to its appeal. The Federal Office for Buildings and Logistics may…
10,000 John Deere Workers Go On Strike After Rejecting Contract
October 14, 2021
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About 10,000 unionized workers at the agriculture equipment maker Deere & Company went on strike in the early hours of Thursday morning, saying that the company failed to present a contract proposal that met the United Auto Workers (UAW) union members’ “demands and needs.” “Our members at John Deere strike for the ability to earn…
Philadelphia Contract Gives Police Raises and Tougher Discipline Procedures
September 28, 2021
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The city of Philadelphia recently announced the details of a new, three-year police contract which will be followed through June 30, 2024. It includes annual raises of 2.75 percent in the first year of the contract and 3.5 percent in each of the following two years. Although it passed, arbitrator Shannon Farmer attached a dissenting…
China Probes ‘Blind Box’ Funds Under Misleading Contract
China is investigating “blind box” funds to ensure that investment uses are consistent with the contract terms, a national securities newspaper reported on Sept. 16. Such funds, according to Xinhua-run China Securities Journal, are vaguely defined or have been misnamed, leading to investor losses—as money has been invested in sectors not set out in the…
Pentagon Awards Lockheed Martin $6.6 Billion Sustainment Contract for F-35 Fighter Jets
The Pentagon has awarded Lockheed Martin Corp. annualized contracts worth up to $6.6 billion to support operations and sustainment of the global F-35 fleet, its F-35 Joint Program Office said on Monday. The air vehicle sustainment contract is for fiscal year 2021, with options for years 2022 and 2023, and is intended to reduce sustainment…
Messi’s Future Up in the Air as Barcelona Contract Ends
MADRID—Lionel Messi’s contract with Barcelona is coming to an end Wednesday with no news from the player or the club about his future. The expectation is that the 34-year-old Messi, who is playing with Argentina at the Copa America, will stay at the Catalan club. He reportedly had been close to reaching a deal to…
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