THE HAGUE (AP) — The International Criminal Court said Friday it has issued an arrest warrant for Russian President Vladimir Putin for war crimes because of his alleged involvement in abductions of children from Ukraine.
The court said in a statement that Putin “is allegedly responsible for the war crime of unlawful deportation of population (children) and that of unlawful transfer of population (children) from occupied areas of Ukraine to the Russian Federation.”
It also issued a warrant Friday for the arrest of Maria Alekseyevna Lvova-Belova, the Commissioner for Children’s Rights in the Office of the President of the Russian Federation, on similar allegations.
The court’s president, Piotr Hofmanski, said in a video statement that while the ICC’s judges have issued the warrants, it will be up to the international community to enforce them. The court has no police force of its own to enforce warrants.
“The ICC is doing its part of work as a court of law. The judges issued arrest warrants. The execution depends on international cooperation.”
A possible trial of any Russians at the ICC remains a long way off, as Moscow does recognize the court’s jurisdiction — a position reaffirmed earlier this week by Kremlin spokesman Dmitry Peskov — and does not extradite its nationals.
Ukraine also is not a member of the court, but it has granted the ICC jurisdiction over its territory and ICC prosecutor Karim Khan has visited four times since opening an investigation a year ago.
The ICC said that its pretrial chamber found there were “reasonable grounds to believe that each suspect bears responsibility for the war crime of unlawful deportation of population and that of unlawful transfer of population from occupied areas of Ukraine to the Russian Federation, in prejudice of Ukrainian children.”
The court statement said that “there are reasonable grounds to believe that Mr Putin bears individual criminal responsibility” for the child abductions “for having committed the acts directly, jointly with others and/or through others [and] for his failure to exercise control properly over civilian and military subordinates who committed the acts.”
On Thursday, a U.N.-backed inquiry cited Russian attacks against civilians in Ukraine, including systematic torture and killing in occupied regions, among potential issues that amount to war crimes and possibly crimes against humanity.
The sweeping investigation also found crimes committed against Ukrainians on Russian territory, including deported Ukrainian children who were prevented from reuniting with their families, a “filtration” system aimed at singling out Ukrainians for detention, and torture and inhumane detention conditions.
But on Friday, the ICC put the face of Putin on the child abduction allegations.
The Biden administration hopes that Chinese President Xi Jinping will reach out to Ukrainian President Volodymyr Zelensky directly because it’s important that Xi hears Ukraine’s perspective and not just Russia’s, White House spokesman John Kirby told reporters on Friday. Kirby’s remarks come after Beijing and Moscow announced earlier Friday that Xi will visit Russia from Monday to Wednesday, in an apparent show of support for Russian President Vladimir Putin as the Russia-Ukraine war continues. Kirby criticized China’s call for a cease-fire between Ukraine and Moscow, saying while that approach might sound good, it wouldn’t respect Ukrainian sovereignty and instead would recognize Russia’s gains in Ukraine.
Thenumbers: U.S. industrial production was flat in February, the Federal Reserve reported Friday.
The unchanged reading was in line with economists expectations, according to a survey by The Wall Street Journal.
Output rose a revised 0.3% in January, revised up from the initial estimate of a flat reading, but there were deep declines in November and December.
Key details: Manufacturing output downshifted to a slim 0.1% rise in February after a strong 1% gain in the prior month.
Motor vehicles and parts output fell 0.3% after a 0.6% jump in January. Excluding autos, total industrial output was unchanged.
Utilities output rose 0.5% in February. Mining output, which includes oil and natural gas, fell 0.6% after a 2% gain in the prior month.
Big picture: The softness in manufacturing is expected to continue as interest rates have moved higher. Credit conditions are expected to tighten in the wake of the worries surrounding regional banks.
The U.S. European Command said Tuesday that two Russian fighter jets conducted an “unsafe and unprofessional” intercept of an American drone over the Black Sea, striking the unmanned aircraft’s propeller so U.S. forces had to bring the drone down. White House spokesman John Kirby told reporters that it’s not uncommon for there to be intercepts by Russian aircraft of U.S. aircraft over the Black Sea, but Tuesday’s incident is noteworthy because of how unsafe and unprofessional it was.
BEIJING (AP) — Is the United States out to sabotage China? Chinese leaders think so.
President Xi Jinping has accused Washington this week of trying to isolate his country and hold back its development. That reflects the ruling Communist Party’s growing frustration that its pursuit of prosperity and global influence is threatened by U.S. restrictions on access to technology, its support for Taiwan and other moves seen by Beijing as hostile.
Xi, China’s most powerful leader in decades, tries to appear to be above problems and usually makes blandly positive public comments. That made his complaint Monday all the more striking. Xi said a U.S.-led campaign of “containment and suppression” of China has “brought unprecedented, severe challenges.” He called on the public to “dare to fight.”
“ In the five months since U.S. President Joe Biden met with Chinese leader Xi Jinping in Indonesia, Washington has approved more weapons sales to Taiwan, criticized Beijing’s stance on Ukraine and put more Chinese companies on export watchlists. ”
— Shi Yinhong, Renmin University
On Tuesday, Foreign Minister Qin Gang sharpened the warning, saying Washington faces possible “conflict and confrontation” if it fails to change course.
“The foreign minister is speaking on behalf of a widely held view that the United States is coming after China and they have to defend themselves,” said John Delury, an international relations specialist at Yonsei University in Seoul.
China is hardly the only government to fume at Washington’s dominance of global strategic and economic affairs. But Chinese leaders see the United States as making extra effort to thwart Beijing as a challenger for regional and possibly global leadership.
The ruling party wants to restore China’s historic role as a political and cultural leader, raise incomes by transforming the country into an inventor of technology, and unite what it considers the Chinese motherland by taking control of Taiwan, the self-ruled island democracy that Beijing claims as part of its territory.
Beijing sees those as positive goals, but American officials see them as threats. They say Chinese development plans are based at least in part on stealing or pressuring foreign companies to hand over technology. Some warn Chinese competition might erode U.S. industrial dominance and incomes.
Washington has set back Beijing’s plans by putting Chinese companies including its first global tech brand, Huawei, on a blacklist that limits access to processor chips and other technology. That crippled Huawei’s smartphone brand, once one of the world’s biggest. American officials are lobbying European and other allies to avoid Huawei equipment when they upgrade phone networks.
Washington cites security fears, but Beijing says that is an excuse to hurt its fledgling competitors.
The two governments have the world’s biggest trading relationship and common interests in combating climate change and other problems. But relations are strained over Taiwan, Beijing’s treatment of Hong Kong and mostly Muslim ethnic minorities, and its refusal to criticize or isolate Russia for its invasion of Ukraine.
The official Chinese view has soured following an uptick when Xi met U.S. President Joe Biden in November in Indonesia, said Shi Yinhong, an international-relations specialist at Renmin University in Beijing. He noted that in the five months since then, Washington approved more weapons sales to Taiwan, criticized Beijing’s stance on Ukraine and put more Chinese companies on export watchlists, all of which China saw as hostile.
Xi and Qin spoke in a “dramatic way” this week, but “the essence of what they said is China’s long-term stance,” Shi said. The leadership believes “the United States has implemented almost all around, drastic and desperate containment of China in all respects, especially in strategic and military fields.”
“The risk of military conflict between China and the United States is getting bigger,” Shi said.
A State Department spokesperson, Ned Price, said Washington wants to “coexist responsibly” within the global trade and political system and denied the U.S. government wants to suppress China.
“This is not about containing China. This is not about suppressing China. This is not about holding China back,” Price said in Washington. “We want to have that constructive competition that is fair” and “doesn’t veer into that conflict.”
“ ‘This is not about containing China. This is not about suppressing China. This is not about holding China back.’”
— Ned Price, U.S. Department of State
The United States formed a strategic group, the Quad, with Japan, Australia and India in response to concern about China and its claim to vast tracts of sea that are busy shipping lanes. They insist the group doesn’t focus on any one country, but its official statements are about territorial claims and other issues on which they have disputes with Beijing.
The latest change in tone follows acrimonious exchanges over a Chinese balloon that was shot down after passing over North America. Its electronics and other equipment are being examined by the FBI.
Qin, the foreign minister is “trying to position China as a global force for moderation and for peace” in front of foreign audiences and say “it’s the Americans who are blowing things out of proportion,” Delury said.
Xi’s government is especially irritated by displays of support by American and other Western legislators for Taiwan, which split with China in 1949 after a civil war.
Taiwan never has been part of the People’s Republic of China, but the Communist Party says the island of 22 million people must unite with the mainland, by force if necessary.
Washington is obligated by federal law to see that Taiwan has the weapons to defend itself and has sold it fighter jets and missiles. Chinese leaders complain that encourages Taiwanese politicians who might want to resist unification and possibly declare formal independence, a step Beijing says would lead to war.
Premier Li Keqiang, who is due to step down as China’s No. 2 leader this month, called on Sunday for “peaceful reunification.” But Xi’s government also has stepped up efforts to intimidate the island by flying fighter jets and firing missiles into the sea nearby.
The latest downturn is “testament to the real degradation” of U.S.-Chinese relations, which “never had much trust,” said Drew Thompson, a fellow at the Lee Kuan Yew School of Public Policy at the National University of Singapore.
Chinese leaders “consider any sort of discussion on strategic issues as sensitive and out of bounds,” which leads to “heightened risk of miscalculation,” Thompson said.
“They believe the U.S. is a hegemon that seeks to undermine the Communist Party and its legitimacy, and they have ample evidence of that,” he said. “But should perceptions and the balance of interests change, they could just as easily believe the U.S. is a partner for achieving the party’s objectives.”
California Public Employees Retirement System increased its stake in shares of Curtiss-Wright Co. (NYSE:CW – Get Rating) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 95,549 shares of the aerospace company’s stock after purchasing an additional 3,901 shares during the period. California Public Employees Retirement System’s holdings in Curtiss-Wright were worth $13,297,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Congress Wealth Management LLC DE lifted its position in shares of Curtiss-Wright by 20.6% in the 3rd quarter. Congress Wealth Management LLC DE now owns 8,473 shares of the aerospace company’s stock worth $1,180,000 after acquiring an additional 1,450 shares during the period. Congress Asset Management Co. MA raised its holdings in shares of Curtiss-Wright by 36.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 15,428 shares of the aerospace company’s stock worth $2,147,000 after buying an additional 4,161 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Curtiss-Wright by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 16,407 shares of the aerospace company’s stock worth $2,283,000 after buying an additional 210 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Curtiss-Wright in the 3rd quarter worth approximately $2,094,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Curtiss-Wright by 122.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 35,087 shares of the aerospace company’s stock worth $4,880,000 after buying an additional 19,318 shares in the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on CW shares. Truist Financial increased their target price on Curtiss-Wright from $175.00 to $183.00 in a report on Monday, January 9th. Morgan Stanley cut Curtiss-Wright from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $187.00 to $188.00 in a report on Monday, December 12th. Robert W. Baird raised their price target on Curtiss-Wright from $157.00 to $186.00 in a report on Friday, November 4th. Finally, StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.40.
Curtiss-Wright Stock Down 0.6 %
NYSE CW opened at $170.30 on Wednesday. The stock has a fifty day moving average of $166.24 and a 200-day moving average of $159.78. The stock has a market capitalization of $6.52 billion, a P/E ratio of 25.30 and a beta of 1.24. Curtiss-Wright Co. has a 52 week low of $124.37 and a 52 week high of $182.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.68.
Curtiss-Wright Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 23rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, November 22nd. This represents a $0.76 annualized dividend and a dividend yield of 0.45%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 11.29%.
Curtiss-Wright Corporation is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.
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Brings global defense, investment banking, and industry leadership experience to support investment and expansion of Vaya’s technologies in both Space and Defense
COCOA, Fla., February 14, 2023 (Newswire.com)
– Vaya Space, Inc., the green Space and Defense company and emerging leader in performance, cost and sustainability, today announced that General Wesley K. Clark, USA, (Ret.) has joined Vaya Space as a senior advisor to the Board and Company to support investment in and expansion of Vaya Space’s new technologies to the highly attractive Space (launch) and Defense (strategic and tactical missile) landscape.
Vaya Space significantly accelerated its pathway to disrupting both the Space and Defense sectors in 2022 with its first breakthrough patents issued, completion of more than 100 successful test fires, and its first successful launch. Vaya’s engines utilize more than 20 metric tons of recycled plastics as fuel leading to costs that are more than 50 percent below that of most competitors, with equal or better thrust, stability and overall performance than any competitive technology. Vaya’s technologies are also transferrable to the Defense market for strategic, tactical, and hypersonic missiles. Vaya’s technologies enable variable trajectory and signature, rapid deployment, and insensitivity for storability and supply chain security. The Company expects to deliver tactical payloads at ranges exceeding 1,000 miles with precision accuracy and do so at a substantially lower cost.
Gen. Clark commented, “I am so impressed with the integrity with which Vaya approached the Space opportunity taking a capabilities-first approach vs. that of many of the competitors. Now with their proven technologies, they are positioned to leapfrog competitors at less than a tenth of what others have already invested. Vaya’s technologies are revolutionary in performance, cost, and sustainability with their ability to remove plastics from the planet. I look forward to facilitating the investment in them to make a difference for our country and for humankind.”
Over the past six months, Vaya has been recognized by the White House for its leadership with its apprenticeship program, was recognized for its sustainability leadership by the Green Organisation at the House of Parliament in London, and has earned more than $100 million in commitments from satellite customers.
Sid Gutierrez, Chairman of the Board of Vaya, former Space Shuttle Commander and the first U.S.-born Hispanic Astronaut commented, “First, General Abrams joining Vaya and now General Wesley Clark, says a tremendous amount about the Company, how far we have come, and how efficacious our technologies really are. These American heroes are incredibly focused and selective, and we are humbled that they have chosen to partner with Vaya. While in development, we were intentionally a well-guarded secret. No more.”
Additional information can be found at vayaspace.com.
About Vaya Space, Inc.
Vaya Space is a green Space and Defense company based on the Space Coast of Florida. Vaya has developed breakthrough and now patented technologies that transform the performance and cost of rockets for access to Space, and missiles for Defense applications. Vaya gained momentum in 2017 when Sid Gutierrez, former Space Shuttle Commander and NASA’s first U.S.-born Hispanic astronaut, became Chairman of the Board. Launch Control’s final words to Sid at liftoff were “Vaya con Dios” and following this inspiration, Vaya Space was born.
Vaya is a purpose-driven, sustainability-focused, and environmentally conscious enterprise dedicated to making a difference for our country and for humankind. Vaya Space competes in the small satellite launch and military munitions sectors. Vaya’s unique and patented rocket engines overcome the costs and other issues associated with traditional legacy rocket and missile technologies to transform the performance, safety and affordability of the industry, and its engines utilize more than 20 metric tons of recycled thermoplastics per launch.
Brings more than 30 years of global defense industry experience to support the burgeoning Defense applications of Vaya’s technologies
Press Release –
Feb 9, 2023
COCOA, Fla., February 9, 2023 (Newswire.com)
– Vaya Space, Inc., the green Space and Defense company and emerging leader in performance, cost and sustainability, today announced that General Robert “Abe” Abrams, USA, (Ret.) has joined Vaya Space as a senior advisor to the Board and Company to help bring Vaya Space’s new technologies to the rapidly evolving Space and Defense landscape.
Vaya Space is a new entrant to both the Space and Defense sectors, and using patented technologies has completed more than 100 successful test fires and its first successful suborbital launch. Vaya’s technologies enable performance, cost, safety, and reliability breakthroughs that can disrupt both the Space launch and Defense strategic and tactical missile markets. Amongst other transformations, Vaya’s missile engine technologies enable variable trajectory and signature, rapid deployment, and insensitivity for storability and supply chain security. Vaya expects to deliver tactical payloads at ranges exceeding 1,000 miles with precision accuracy, and do so at a substantially lower cost.
Gen. Abrams commented, “I am very selective in what I do in my post active duty life and who I do it with. The principal reason I decided to support Vaya was because I became convinced that their technologies coupled with their excellent leadership team can make a tremendous difference for our country. Implementation of their technologies has the potential to bring a completely new and much needed capability for strategic and tactical missiles which can provide our forces decisive overmatch now and well into the future.”
Vaya’s engine fuel grains are made from >99% recycled thermoplastics and eliminate approximately 20 metric tons of plastics from the earth per launch, converting into water vapor and CO2 as their rockets ascend into space. Over the past six months Vaya has been recognized by the White House for its leadership with its apprenticeship program, was recognized for its sustainability leadership by the Green Organisation at the House of Parliament in London, and has earned more than $100 million in commitments from satellite customers.
Sid Gutierrez, Chairman of the Board of Vaya, former Space Shuttle Commander and the first US-born Hispanic Astronaut commented, “My passion for a safer and better way to Space was the genesis of Vaya. We believe we have achieved this objective, and in our quest we have also developed breakthroughs for multiple Defense applications. Partnering with Gen. Abrams will bring awareness within the Defense community of Vaya’s new capabilities, and accelerate the process of strengthening the warfighting abilities of our forces.”
Additional information can be found at vayaspace.com.
About Vaya Space, Inc.
Vaya Space is a green Space and Defense company based on the Space Coast of Florida. Vaya has developed breakthrough and now patented technologies that transform the performance and cost of rockets for access to Space, and missiles for Defense applications. Vaya gained momentum in 2017 when Sid Gutierrez, former Space Shuttle Commander and NASA’s first US-born Hispanic astronaut became Chairman of the Board. Launch Control’s final words to Sid at liftoff were “Vaya con Dios” and following this inspiration Vaya Space was born.
Vaya is a purpose driven, sustainability focused, and environmentally conscious enterprise dedicated to making a difference for our country and for humankind. Vaya Space competes in the small satellite launch and military munitions sectors. Vaya’s unique and patented rocket engines overcome the costs and other issues associated with traditional legacy rocket and missile technologies to transform the performance, safety and affordability of the industry, and its engines utilize more than 20 metric tons of recycled thermoplastics per launch.
David Rosenberg, the former chief North American economist at Merrill Lynch, has been saying for almost a year that the Fed means business and investors should take the U.S. central bank’s effort to fight inflation both seriously and literally.
Rosenberg, now president of Toronto-based Rosenberg Research & Associates Inc., expects investors will face more pain in financial markets in the months to come.
“The recession’s just starting,” Rosenberg said in an interview with MarketWatch. “The market bottoms typically in the sixth or seventh inning of the recession, deep into the Fed easing cycle.” Investors can expect to endure more uncertainty leading up to the time — and it will come — when the Fed first pauses its current run of interest rate hikes and then begins to cut.
Fortunately for investors, the Fed’s pause and perhaps even cuts will come in 2023, Rosenberg predicts. Unfortunately, he added, the S&P 500 SPX, -0.61%
could drop 30% from its current level before that happens. Said Rosenberg: “You’re left with the S&P 500 bottoming out somewhere close to 2,900.”
At that point, Rosenberg added, stocks will look attractive again. But that’s a story for 2024.
In this recent interview, which has been edited for length and clarity, Rosenberg offered a playbook for investors to follow this year and to prepare for a more bullish 2024. Meanwhile, he said, as they wait for the much-anticipated Fed pivot, investors should make their own pivot to defensive sectors of the financial markets — including bonds, gold and dividend-paying stocks.
MarketWatch: So many people out there are expecting a recession. But stocks have performed well to start the year. Are investors and Wall Street out of touch?
Rosenberg: Investor sentiment is out of line; the household sector is still enormously overweight equities. There is a disconnect between how investors feel about the outlook and how they’re actually positioned. They feel bearish but they’re still positioned bullishly, and that is a classic case of cognitive dissonance. We also have a situation where there is a lot of talk about recession and about how this is the most widely expected recession of all time, and yet the analyst community is still expecting corporate earnings growth to be positive in 2023.
In a plain-vanilla recession, earnings go down 20%. We’ve never had a recession where earnings were up at all. The consensus is that we are going to see corporate earnings expand in 2023. So there’s another glaring anomaly. We are being told this is a widely expected recession, and yet it’s not reflected in earnings estimates – at least not yet.
There’s nothing right now in my collection of metrics telling me that we’re anywhere close to a bottom. 2022 was the year where the Fed tightened policy aggressively and that showed up in the marketplace in a compression in the price-earnings multiple from roughly 22 to around 17. The story in 2022 was about what the rate hikes did to the market multiple; 2023 will be about what those rate hikes do to corporate earnings.
“ You’re left with the S&P 500 bottoming out somewhere close to 2,900. ”
When you’re attempting to be reasonable and come up with a sensible multiple for this market, given where the risk-free interest rate is now, and we can generously assume a roughly 15 price-earnings multiple. Then you slap that on a recession earning environment, and you’re left with the S&P 500 bottoming out somewhere close to 2900.
This is just pure mathematics. All the stock market is at any point is earnings multiplied by the multiple you want to apply to that earnings stream. That multiple is sensitive to interest rates. All we’ve seen is Act I — multiple compression. We haven’t yet seen the market multiple dip below the long-run mean, which is closer to 16. You’ve never had a bear market bottom with the multiple above the long-run average. That just doesn’t happen.
David Rosenberg: ‘You want to be in defensive areas with strong balance sheets, earnings visibility, solid dividend yields and dividend payout ratios.’
Rosenberg Research
MarketWatch: The market wants a “Powell put” to rescue stocks, but may have to settle for a “Powell pause.” When the Fed finally pauses its rate hikes, is that a signal to turn bullish?
Rosenberg: The stock market bottoms 70% of the way into a recession and 70% of the way into the easing cycle. What’s more important is that the Fed will pause, and then will pivot. That is going to be a 2023 story.
The Fed will shift its views as circumstances change. The S&P 500 low will be south of 3000 and then it’s a matter of time. The Fed will pause, the markets will have a knee-jerk positive reaction you can trade. Then the Fed will start to cut interest rates, and that usually takes place six months after the pause. Then there will be a lot of giddiness in the market for a short time. When the market bottoms, it’s the mirror image of when it peaks. The market peaks when it starts to see the recession coming. The next bull market will start once investors begin to see the recovery.
But the recession’s just starting. The market bottoms typically in the sixth or seventh inning of the recession, deep into the Fed easing cycle when the central bank has cut interest rates enough to push the yield curve back to a positive slope. That is many months away. We have to wait for the pause, the pivot, and for rate cuts to steepen the yield curve. That will be a late 2023, early 2024 story.
MarketWatch: How concerned are you about corporate and household debt? Are there echoes of the 2008-09 Great Recession?
Rosenberg: There’s not going to be a replay of 2008-09. It doesn’t mean there won’t be a major financial spasm. That always happens after a Fed tightening cycle. The excesses are exposed, and expunged. I look at it more as it could be a replay of what happened with nonbank financials in the 1980s, early 1990s, that engulfed the savings and loan industry. I am concerned about the banks in the sense that they have a tremendous amount of commercial real estate exposure on their balance sheets. I do think the banks will be compelled to bolster their loan-loss reserves, and that will come out of their earnings performance. That’s not the same as incurring capitalization problems, so I don’t see any major banks defaulting or being at risk of default.
But I’m concerned about other pockets of the financial sector. The banks are actually less important to the overall credit market than they’ve been in the past. This is not a repeat of 2008-09 but we do have to focus on where the extreme leverage is centered.
It’s not necessarily in the banks this time; it is in other sources such as private equity, private debt, and they have yet to fully mark-to-market their assets. That’s an area of concern. The parts of the market that cater directly to the consumer, like credit cards, we’re already starting to see signs of stress in terms of the rise in 30-day late-payment rates. Early stage arrears are surfacing in credit cards, auto loans and even some elements of the mortgage market. The big risk to me is not so much the banks, but the nonbank financials that cater to credit cards, auto loans, and private equity and private debt.
MarketWatch: Why should individuals care about trouble in private equity and private debt? That’s for the wealthy and the big institutions.
Rosenberg: Unless private investment firms gate their assets, you’re going to end up getting a flood of redemptions and asset sales, and that affects all markets. Markets are intertwined. Redemptions and forced asset sales will affect market valuations in general. We’re seeing deflation in the equity market and now in a much more important market for individuals, which is residential real estate. One of the reasons why so many people have delayed their return to the labor market is they looked at their wealth, principally equities and real estate, and thought they could retire early based on this massive wealth creation that took place through 2020 and 2021.
Now people are having to recalculate their ability to retire early and fund a comfortable retirement lifestyle. They will be forced back into the labor market. And the problem with a recession of course is that there are going to be fewer job openings, which means the unemployment rate is going to rise. The Fed is already telling us we’re going to 4.6%, which itself is a recession call; we’re going to blow through that number. All this plays out in the labor market not necessarily through job loss, but it’s going to force people to go back and look for a job. The unemployment rate goes up — that has a lag impact on nominal wages and that is going to be another factor that will curtail consumer spending, which is 70% of the economy.
“ My strongest conviction is the 30-year Treasury bond. ”
At some point, we’re going to have to have some sort of positive shock that will arrest the decline. The cycle is the cycle and what dominates the cycle are interest rates. At some point we get the recessionary pressures, inflation melts, the Fed will have successfully reset asset values to more normal levels, and we will be in a different monetary policy cycle by the second half of 2024 that will breathe life into the economy and we’ll be off to a recovery phase, which the market will start to discount later in 2023. Nothing here is permanent. It’s about interest rates, liquidity and the yield curve that has played out before.
MarketWatch: Where do you advise investors to put their money now, and why?
Rosenberg: My strongest conviction is the 30-year Treasury bond TMUBMUSD30Y, 3.674%.
The Fed will cut rates and you’ll get the biggest decline in yields at the short end. But in terms of bond prices and the total return potential, it’s at the long end of the curve. Bond yields always go down in a recession. Inflation is going to fall more quickly than is generally anticipated. Recession and disinflation are powerful forces for the long end of the Treasury curve.
As the Fed pauses and then pivots — and this Volcker-like tightening is not permanent — other central banks around the world are going to play catch up, and that is going to undercut the U.S. dollar DXY, +0.70%.
There are few better hedges against a U.S. dollar reversal than gold. On top of that, cryptocurrency has been exposed as being far too volatile to be part of any asset mix. It’s fun to trade, but crypto is not an investment. The crypto craze — fund flows directed to bitcoin BTCUSD, +0.35%
and the like — drained the gold price by more than $200 an ounce.
“ Buy companies that provide the goods and services that people need – not what they want. ”
I’m bullish on gold GC00, +0.22%
– physical gold — bullish on bonds, and within the stock market, under the proviso that we have a recession, you want to ensure you are invested in sectors with the lowest possible correlation to GDP growth.
Invest in 2023 the same way you’re going to be living life — in a period of frugality. Buy companies that provide the goods and services that people need – not what they want. Consumer staples, not consumer cyclicals. Utilities. Health care. I look at Apple as a cyclical consumer products company, but Microsoft is a defensive growth technology company.
You want to be buying essentials, staples, things you need. When I look at Microsoft MSFT, -0.61%,
Alphabet GOOGL, -1.79%,
Amazon AMZN, -1.17%,
they are what I would consider to be defensive growth stocks and at some point this year, they will deserve to be garnering a very strong look for the next cycle.
You also want to invest in areas with a secular growth tailwind. For example, military budgets are rising in every part of the world and that plays right into defense/aerospace stocks. Food security, whether it’s food producers, anything related to agriculture, is an area you ought to be invested in.
You want to be in defensive areas with strong balance sheets, earnings visibility, solid dividend yields and dividend payout ratios. If you follow that you’ll do just fine. I just think you’ll do far better if you have a healthy allocation to long-term bonds and gold. Gold finished 2022 unchanged, in a year when flat was the new up.
In terms of the relative weighting, that’s a personal choice but I would say to focus on defensive sectors with zero or low correlation to GDP, a laddered bond portfolio if you want to play it safe, or just the long bond, and physical gold. Also, the Dogs of the Dow fits the screening for strong balance sheets, strong dividend payout ratios and a nice starting yield. The Dogs outperformed in 2022, and 2023 will be much the same. That’s the strategy for 2023.
President Joe Biden said on Saturday that he ordered U.S. officials to shoot down the suspected Chinese spy balloon earlier this week and that national-security leaders decided the best time for the operation was when the the object was over water.
“They successfully took it down, and I want to compliment our aviators who did it,” Biden said after getting off Air Force One en route to Camp David.
Fighter jets shot down the giant white balloon off the Carolina coast after it apparently traversed sensitive military sites across North America, prompting the postponement of a high-level U.S. diplomatic trip to China and becoming the latest flashpoint in the prevailing tense tone between Washington and Beijing.
“ In preparation for the operation, the Federal Aviation Administration temporarily closed airspace over the Carolina coastline, including the Charleston and Myrtle Beach airports in South Carolina and the Wilmington airport in North Carolina. ”
Defense Secretary Lloyd Austin said in a statement that Biden approved the shoot-down on Wednesday, saying it should be done “as soon as the mission could be accomplished without undue risk to American lives under the balloon’s path.”
Austin said that, due to the size and altitude of the balloon, which was floating at an altitude of about 60,000 feet, the military had determined that taking it down over land would pose an undue risk to people on the ground.
The balloon was observed Saturday morning over the Carolinas as it approached the Atlantic coast.
In preparation for the operation, the Federal Aviation Administration temporarily closed airspace over the Carolina coastline, including the Charleston and Myrtle Beach airports in South Carolina and the Wilmington airport in North Carolina. The FAA rerouted air traffic from the area and warned of delays as a result of the flight restrictions.
An operation was underway in U.S. territorial waters in the Atlantic Ocean to recover debris from the balloon, which had been estimated to be about the size of three school buses. CNN reported that, according to a senior military source, Navy divers and unmanned vessels were among the assets deployed for the recovery effort, primarily, according to the source, in 47-foot-deep water.
The balloon was downed by Air Force fighter aircraft, according to two officials who were not authorized to publicly discuss the matter and spoke on condition of anonymity. CNN reported having been informed that a single missile fired by one of the U.S. jets had brought the balloon down.
Television footage showed a small explosion, followed by the balloon descending toward the water. U.S. military jets were seen flying in the vicinity and ships were deployed in the water to mount the recovery operation.
A South Carolina man posted video that appeared to capture the event as it unfolded. He told CNN he was a social-studies teacher and that his fiancée had recommended he point his camera at the object in advance of its downing.
Officials were aiming to time the operation so they could recover as much of the debris as possible before it sinks into the ocean. The Pentagon had previously estimated that any debris field would be substantial.
The balloon was first spotted over Montana, which is home to one of America’s three nuclear-missile silo fields at Malmstrom Air Force Base.
Biden had explored ordering the downing of the balloon over land when he was first briefed on it Tuesday, but Pentagon officials advised against that course of action, warning that the potential risk to people on the ground outweighed an assessment of potential Chinese intelligence gains.
The public disclosure of the balloon’s travels this week prompted the cancellation of a visit by U.S. Secretary of State Antony Blinken to Beijing that had been scheduled for Sunday for talks aimed at reducing U.S.-China tensions.
The Chinese government on Saturday sought to play down that cancellation. “In actuality, the U.S. and China have never announced any visit, the U.S. making any such announcement is their own business, and we respect that,” China’s Ministry of Foreign Affairs said in a statement Saturday morning.
The Pentagon also acknowledged reports of a second balloon flying over Latin America. “We now assess it is another Chinese surveillance balloon,” Brig. Gen. Pat Ryder, Pentagon press secretary, said in a statement. China’s Ministry of Foreign Affairs did not immediately respond to a question about the second balloon.
Blinken, who had been due to depart Washington for Beijing late Friday, said he had told senior Chinese diplomat Wang Yi in a phone call that sending the balloon over the U.S. was “an irresponsible act and that [China’s] decision to take this action on the eve of my visit is detrimental to the substantive discussions that we were prepared to have.”
Uncensored reactions on the Chinese internet mirrored the official government stance that the U.S. was overhyping the situation. Some used it as a chance to poke fun at U.S. defenses, saying it couldn’t even defend against a balloon, and nationalist influencers leapt to use the news to mock the U.S.
Republican politicians in the U.S. sought to characterize Biden’s and the Pentagon’s decision to monitor the balloon until it reached a location where it could be safely targeted militarily as kowtowing to the Chinese.
China has denied any claims of spying and said it was a civilian-use balloon intended for meteorology research. The Ministry of Foreign Affairs emphasized that the balloon’s journey was out of its control and urged the U.S. not to “smear” it based on an isolated balloon incident.
The United States on Saturday downed a suspected Chinese spy balloon off the Carolina coast after it traversed sensitive military sites across North America and became the latest flashpoint in tensions between Washington and Beijing.
An operation was underway in U.S. territorial waters in the Atlantic Ocean to recover debris from the balloon, which had been flying at about 60,000 feet and was estimated to be about the size of three school buses.
President Joe Biden had told reporters earlier Saturday that “we’re going to take care of it,” when asked about the balloon. The Federal Aviation Administration and Coast Guard worked to clear the airspace and water below the balloon as it reached the ocean.
Television footage showed a small explosion, followed by the balloon descending toward the water. U.S. military jets were seen flying in the vicinity and ships were deployed in the water to mount the recovery operation.
Officials were aiming to time the operation so they could recover as much of the debris as possible before it sinks into the ocean. The Pentagon had previously estimated that any debris field would be substantial.
The balloon was spotted Saturday morning over the Carolinas as it approached the coast.
In preparation for the operation, the FAA temporarily closed airspace over the Carolina coastline, including the airports in Charleston and Myrtle Beach, South Carolina, and Wilmington, North Carolina. The FAA rerouted air traffic from the area and warned of delays as a result of the flight restrictions.
The Coast Guard advised mariners to immediately leave the area because of U.S. military operations “that present a significant hazard.”
Biden had been inclined to down the balloon over land when he was first briefed on it on Tuesday, but Pentagon officials advised against it, warning that the potential risk to people on the ground outweighed the assessment of potential Chinese intelligence gains.
The public disclosure of the balloon this week prompted the cancellation of a visit by U.S. Secretary of State Antony Blinken to Beijing scheduled for Sunday for talks aimed at reducing U.S.-China tensions. The Chinese government on Saturday sought to play down the cancellation.
“In actuality, the U.S. and China have never announced any visit, the U.S. making any such announcement is their own business, and we respect that,” China’s Ministry of Foreign Affairs said in a statement Saturday morning.
China has continued to claim that the balloon was merely a weather research “airship” that had been blown off course. The Pentagon rejected that out of hand — as well as China’s contention that it was not being used for surveillance and had only limited navigational ability.
The balloon was spotted over Montana, which is home to one of America’s three nuclear missile silo fields at Malmstrom Air Force Base.
The Pentagon also acknowledged reports of a second balloon flying over Latin America. “We now assess it is another Chinese surveillance balloon,” Brig. Gen. Pat Ryder, Pentagon press secretary, said in a statement. China’s Ministry of Foreign Affairs did not immediately respond to a question about the second balloon.
Blinken, who had been due to depart Washington for Beijing late Friday, said he had told senior Chinese diplomat Wang Yi in a phone call that sending the balloon over the U.S. was “an irresponsible act and that (China’s) decision to take this action on the eve of my visit is detrimental to the substantive discussions that we were prepared to have.”
Uncensored reactions on the Chinese internet mirrored the official government stance that the U.S. was hyping the situation. Some used it as a chance to poke fun at U.S. defenses, saying it couldn’t even defend against a balloon, and nationalist influencers leapt to use the news to mock the U.S.
China has denied any claims of spying and said it is a civilian-use balloon intended for meteorology research. The Ministry of Foreign Affairs emphasized that the balloon’s journey was out of its control and urged the U.S. not to “smear” it based on the balloon.
Skyway and Moonware Join Forces to Advance Automated Ground Solutions for Next-Generation Aircraft
Press Release –
Feb 2, 2023 07:00 PST
SAN RAFAEL, Calif., February 2, 2023 (Newswire.com)
– Skyway and Moonware are proud to announce a strategic partnership to accelerate ground infrastructure readiness for advanced aerial mobility. Skyway offers air traffic navigation and vertiport airspace management services while Moonware offers automated aviation ground operations through its AI-powered software and autonomous ground vehicles.
Moonware is a venture-backed startup developing automated solutions for aviation ground operations. Through its integrated product suite, Moonware’s technology aims to provide Urban Air Mobility (UAM) service providers with systems that efficiently manage airfield ground operations to safely meet flight throughput requirements.
This strategic partnership aims to digitally integrate ground operations into UATM systems, enabling a streamlined airside workflow and extended navigation services from start to end. Skyway’s vertiport development department is expanding its operation offerings for nextgen facilities. As such, partnering with Moonware will provide the most reliable infrastructure for Urban Air Mobility as well as bring the next evolution in automated traffic services to airline operators.
The principal challenges involved with eVTOL ground operations are the intrinsic limitations of self-taxiing aircraft, due to battery constraints and range requirements. As more vertiports are developed and brought onto the flight network, adopting standardized systems that can scale across a wide variety of operational requirements is needed.
HALO, Moonware’s Airside OS, is an app-based tool designed to coordinate and automate aviation ground services. With features such as automated crew scheduling and dispatching, GSE asset allocation, and real-time airside visibility, Moonware’s tool will enable Skyway to digitally integrate ground operations into its Vertiport Management System (VMS), allowing the UATM operation center to see critical information.
“This partnership enables ground operations to be digitally integrated into UATM systems from the very start, agnostic of the type of airfield, and equips operators with a tool that will streamline their airside workflow,” says Javier Vidal, Moonware CEO.
Moonware and Skyway will also establish requirements to deploy ATLAS, Moonware’s autonomous and electric pushback vehicle, to taxi eVTOLs in vertiports operating in Skyway’s network. ATLAS is currently under development at Moonware and will enable quick and safe aircraft transfers between parking stands and FATOs. The partnership with Skyway will seek to provide aircraft manufacturers with an extended range through engine-off taxiing operations, reducing energy consumption and vertiport noise.
“Effective ground operations are critical to establishing long-term revenue growth for vertiport stakeholders, including airline operators. Vertiport uptime and organization of assets via Moonware’s technologies will increase Skyway’s facility operation offerings value proposition,” says Clifford Cruz, Skyway CEO.
This collaboration marks a significant step toward the future of advanced aerial mobility. By partnering with Moonware, Skyway’s navigation services will extend through the entire charter experience with safe and reliable services from beginning to end. Together, Moonware and Skyway will tackle the challenges of the industry and pave the way for a seamless passenger experience.
Former Senior Executive Service member and Administrative Assistant to the Secretary of the U.S. Air Force Will Advise CORAS and HumanTouch’s Expansion within the Defense and Federal Markets
Press Release –
Feb 1, 2023 09:00 EST
MCLEAN, Va., February 1, 2023 (Newswire.com)
– Executive 1 Holding Company (EX1) is proud to announce that Pat Zarodkiewicz, a retired Senior Executive Service (SES) member with nearly 34 years of experience in the Department of the Air Force (USAF), has joined its Board of Advisors. In her final USAF position as the Administrative Assistant (AA) to the Secretary of the Air Force (SAF), Ms. Zarodkiewicz provided advice to the SAF and Chief of Staff on executive personnel and Headquarters management, led an organization responsible for over $5.6 billion annually, and supported 37,000 people. As the USAF’s Senior Security Official, she led the Air Force’s insider threat program, information, personnel, and industrial security policy, and provided oversight of Special Access Programs.
“My mission as Board Advisor is to bring my problem-solving perspective and ask the questions that decision-makers need to know,” Ms. Zarodkiewicz said. “My experience is helpful because I haven’t forgotten what that decision-making process feels like, and I can think and approach risk differently and present a balanced case for building stronger and more innovative integrations and solutions.”
“Executive 1 is honored to welcome Pat to our Board of Advisors. She shares our customer-centric, value-add vision providing solutions and software that are focused on mission outcomes,” said Moe Jafari, EX1 CEO. “Pat’s direct experience and insights, as a decision-maker, and working with other decision-makers across the Air Force, DoD, and federal-wide is paramount as our investment companies evolve. 2023 promises to be one of opportunity and mission advancement as we engage with leaders to provide best-in-class decision solutions and software to government leaders.”
In addition to EX1’s Advisory Board, Ms. Zarodkiewicz serves on the Board of Directors for several large and small businesses, as well as the Aerospace Corporation, and is an advisor to the Defense Business Board. She remains committed to bringing her expertise and experience to organizations she recognizes as critical to the success of the DoD enterprise and the Intelligence Community.
Ms. Zarodkiewicz started with the Air Force as an intern and held increasingly responsible positions in financial management at base, MAJCOM, and in the Pentagon, culminating as the Principal Deputy Assistant Secretary, Financial Management & Comptroller. Her leadership was recognized with three Presidential Rank Awards and numerous other awards.
About EX1
EX1 is a private holding firm that includes Plasticity, Inc.,HumanTouch, LLC, CORAS (SaaS), and Docugraph. Continued EX1 investments in Ai/ML/NLP and software-as-a-service (SaaS) positions the company portfolio to lead in these technologies.
CORNELIUS, N.C., February 1, 2023 (Newswire.com)
– Valworx, Inc., a leading supplier of actuated valves and controls, has partnered with the Cornell Rocketry Team to supply pressure gauges for their entry in the Spaceport America Cup.
“Year after year, the Cornell Rocketry Team pushes the boundaries of student-led engineering projects, and we’re excited to play a part in helping the next generation of aerospace leaders literally aim high,” said Kurt Naas, President of Valworx.
The Cornell Rocketry Team, one of 34 Student Project Teams supported by Cornell Engineering, is dedicated to designing, assembling, and launching high-powered rockets. Each year the team, which is made up of undergraduate students, participates in the Spaceport America Cup, a competition with over 150 teams from all across the globe. The competition involves launching a high-powered rocket to an altitude of 10,000 ft with a specific and challenging payload that changes yearly.
“In many ways, the Cornell Rocketry Team is a showcase for Cornell Engineering at its best. Our students succeed by applying technical expertise and forging strong, collaborative partnerships with each other and with others,” said Lauren Stulgis, the Swanson Director of Student Project Teams. “In addition to enabling a better rocket, this generous support will help launch future industry leaders.”
Cornell Engineering’s Student Project Teams provide a rich, multifaceted opportunity for experiential learning in the form of multi-disciplinary teams working on complex problems. They range in focus from design and build teams, like the Cornell Rocketry Team, to social impact programs to app and web development. Nearly 1,400 students, from all 14 engineering majors and from across Cornell University’s seven undergraduate colleges and programs, are engaged in the program, honing their leadership and professional skills alongside their teammates.
The next Spaceport America Cup competition will take place on June 19-24, 2023.
About Valworx
Established in 1991, Valworx is a leading supplier of actuated valves and controls in stainless, brass, PVC, and sanitary ball and butterfly valves. They offer free shipping on orders over $99, free lifetime technical support, extensive online documentation and a generous return policy. All products are backed by a comprehensive one-year warranty.
Valworx-brand products are known, trusted and preferred by tens of thousands of users worldwide, meeting their customers’ expectations for price, delivery, and performance.
A vital part of Cornell University, which was founded in 1865, Cornell Engineering is a highly collaborative and dynamic intellectual community known for maintaining all-around excellence in educating students, pursuing groundbreaking research, and nucleating technological innovations that impact people, communities, and the world. For more information, visit engineering.cornell.edu.
The initial version of this story had incorrect price changes for 2023. It is now updated with information as of the market close on Jan. 31.
Investors staged a January rally, with solid gains for the S&P 500 and an even better showing for technology stocks that led the dismal downward action in 2022.
President Joe Biden is considering traveling to Europe next month to mark the one-year anniversary of Russian’s invasion of Ukraine, NBC News and CNN reported Thursday. NBC’s report said multiple locations are under consideration, including Poland, and that administration officials have discussed announcing another major military aid package for Ukraine to coincide with the anniversary. Biden on Wednesday announced the U.S. would send 31 Abrams tanks GD, +0.54%
to Ukraine to help it defend itself against the Russian invasion, but he warned that it would take time to deliver the equipment.
SAN RAFAEL, Calif., January 26, 2023 (Newswire.com)
– Siemens and Skyway are working together to determine the electrical and digital infrastructure needed to support vertiport operations. Vertiports are hubs for VTOLs (vertical take-off and landing vehicles) such as air taxis and drones. The scope of collaboration involves both companies researching the energy demands of vertiports and developing sustainable electrical supply, standard charging processes, and a system of systems to support aircraft operations. Innovation around vertiport infrastructure will be critical to the future scalability of electric vertical take-off and landing (eVTOL) flight operations.
A main objective of the collaborative effort is to develop vertiports. This includes researching, developing, planning, and being part of the construction and operation of them, with each company bringing its own strength and experience to the effort. Skyway has a vast knowledge of airspace mission planning and management, air traffic navigation, and unmanned aircraft operations, and Siemens has infrastructure expertise in electrification, vehicle charging, and facility operations.
Together, the two will work together to design and engineer a universal eVTOL charging processby evaluating the charging, power, and software requirements to ensure reliable and efficient operations. In addition, Siemens and Skyway will collaborate on innovative ideas to standardize overall vertiport planning and design and reduce energy consumption.
“Sustainable energy solutions will be the foundation and the necessity for adoption of Urban Air Mobility with the electrification of eVTOL aircraft,” says Clifford Cruz, Skyway CEO. “Combining our companies’ resources and industry foresight can influence vertiport construction efforts and general UAM solutions on an industry-wide scale while setting a new precedent for modern transportation.”
“It is exciting for Siemens to contribute to the evolution of the Urban Air Mobility Industry,” says John Kasuda, Head of Airports at Siemens Smart Infrastructure North America. “The development and efficient operations of vertiports will require innovative solutions to meet the expected demands of fast aircraft turnaround times and a network of varying landing facilities.”
The aviation industry is evolving with innovations being made in both flight and air traffic operations. eVTOLs bring a new mobility market that positively impacts communities through traffic decongestion and connection to areas not well served by the current aviation system.
Traceability (as a service) allows businesses to create blockchain-backed digital twins of their traceability documentation and digitally share these documentation packages through QR codes.
Press Release –
updated: Jan 25, 2023 10:15 CST
MILWAUKEE, January 25, 2023 (Newswire.com)
– Aeroplicity Inc., an innovative aerospace & defense technology startup, today announced the launch of the world’s first blockchain-backed aerospace & defense platform made for small to medium-sized businesses alongside its Traceability (as a service) application which simplifies the process of creating, managing, and sharing traceability documentation. It enables businesses to create digital twins of their documentation, which can be easily shared through QR codes, eliminating the need for physical copies. The use of blockchain technology ensures the authenticity of the documentation and improves supply chain transparency, speed, and efficiency.
The requirements to conduct business as an aerospace & defense supplier continue to increase with more complex requirements being passed down from both the government and Tier 1 suppliers into the supply chain. This puts many in the supply chain at a disadvantage as they do not have access to the same resources and knowledge that a Tier 1, or even a larger Tier 2 or 3, supplier does. With our Traceability (as a service) application, businesses no longer have to struggle with meeting the increasing and complex requirements of the aerospace & defense industry, such as DFARS 242.204-7012, NIST SP 800-171, and ITAR. Our platform ensures compliance with these regulations and allows businesses to focus on what they do best – delivering high-quality products and services.
“Our platform is a game-changer for the aerospace & defense supply chain,” said Jerome Miastkowski, CEO and Founder of Aeroplicity. “It allows small to medium-sized businesses to compete on the same level as larger organizations by providing access to low-cost next-generation technologies that simplify their compliance requirements.”
Aeroplicity is designed to improve supply chain transparency, speed, and efficiency, making it easier for businesses to ensure compliance with aerospace & defense regulations and standards. With our Traceability (as a service) application, businesses can easily access, share, and request documentation in real-time, reducing the risk of errors and increasing the speed of transactions. Additionally, our blockchain-backed platform provides a secure and immutable record of documentation, providing an added layer of security and trust for businesses in the aerospace & defense industry.
“We are excited to be launching this innovative platform and application to the market for FREE for the next six months,” said Miastkowski. “We believe that it will revolutionize the way small to medium-sized businesses operate in the aerospace & defense industry, and we look forward to seeing the positive impact it will have on their growth and success.”
The world is in greater danger in 2023 than it has been at any moment over the past seven decades, warns a leading panel of scientists and security experts.
The illegal Russian-Ukraine conflict and its risk that nuclear weapons could be used was a primary, but not exclusive, catalyst in bumping forward the hands on the symbolic measure known as the “Doomsday Clock.”
