Under mounting pressure from Congress, the Coast Guard on Tuesday has announced that Northrop Grumman and Lockheed Martin no longer will manage the $24 billion modernization of its fleet. The Coast Guard’s decision to dump Lockheed Martin...

Verizon Wireless has recently awarded a three-year contract worth $6 billion to Alcatel-Lucent to build out its Internet protocol network infrastructure and to supply network equipment, software and services. The move has been planned with...

Kuwait’s Mobile Telecom Co., MTC, emerged as the highest bidder in the tender for the license to become Saudi Arabia’s third telecom operator. MTC’s bid was valued at 22.91 billion Saudi Arabia riyals ($6.11 billion), said...

A $15bn contract for US Air Force rescue helicopters won by Boeing has now came under the threat of as a US government watchdog body has asked to reopen the bid. The Government Accountability Office has suggested Air Force in a nonbinding...

Mittal Steel Co. has again displayed its rare appetite for doing business in high-risk locations. Arcelor Mittal have signed agreements to spend about $2.2 billion for developing iron-ore mining in Senegal in what it hopes will be a first step...

United Parcel Service Inc., the world’s largest package-delivery company, and planemaker Airbus SAS agreed that either company can cancel an order this year for 10 A380 freighters after repeated production delays. The company has stated that...