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How Colt Lost Its Big Contract To Sell the US Army Rifles | National Interest

Belgium’s Fabrique Nationale (FN) and Colt have long been competitors on the American firearms market. For almost a century both companies have competed for military contracts, designers, and sales on the American civilian market. However, in the 2000s, FN dealt a blow that stung Colt: it won a contract to produce the M16 rifle and M4 carbine, designs that were ... Read More »

The Invention of Money | The New Yorker

When the Venetian merchant Marco Polo got to China, in the latter part of the thirteenth century, he saw many wonders—gunpowder and coal and eyeglasses and porcelain. One of the things that astonished him most, however, was a new invention, implemented by Kublai Khan, a grandson of the great conqueror Genghis. It was paper money, introduced by Kublai in 1260. ... Read More »

There’s no business like the arms business: Here’s how the top US defense companies did in Q2 earnings | CNBC

Nobody spends money on arms like the United States, and it shows in the bottom lines of the biggest defense contractors. The Trump administration’s 2019 defense-friendly spending bill increased the Pentagon’s spending power to a grand total of $717 billion. Next week, the Senate will vote on a $1.3 trillion budget deal for fiscal year 2020 that includes $738 billion ... Read More »

New data shows the soaring cost of government contracts | Federal Times

Pentagon spending on federal contracts soared in fiscal year 2018, accounting for about $373 billion of $559 billion in overall contracting spend from federal agencies, according to Bloomberg Government’s 8th annual top 200 contractors report. The spending by the Pentagon is a $40.5 billion increase from the previous fiscal year and over $90 billion rise since FY2015. Total government spending ... Read More »

How Two Stanford Dropouts Built a $2.6 Billion Company In Just Two Years |  Entrepreneur

While most elementary school students spend hours playing in the park with friends, Brazilian wunderkinds Pedro Franceschi and Henrique Dubugras had a different pastime: coding. Pedro was the first to jailbreak the iPhone 3G and the first to build software to make Apple’s Siri virtual assistant speak in Portuguese, while Henrique was just 12 years old when he started coding ... Read More »

From Royal Marine to technology entrepreneur: how UK military veterans are fueling Britain’s booming cyber security industry |  The Telegraph

When we meet in a trendy west London cafe, David Atkinson, the chief executive of one of Britain’s most promising cybersecurity start-ups, has his back to the wall. It’s a habit that is “hammered into you” when being taught surveillance tactics in the military, he says. “All I wanted to be since I was a little boy was just to ... Read More »

The Trust Crisis | Harvard Business Review

Businesses put an awful lot of effort into meeting the diverse needs of their stakeholders — customers, investors, employees, and society at large. But they’re not paying enough attention to one ingredient that’s crucial to productive relationships with those stakeholders: trust. Trust, as defined by organizational scholars, is our willingness to be vulnerable to the actions of others because we ... Read More »

IBM snags AT&T as client in new cloud deal worth ‘billions’ | CNBC

IBM has signed a major cloud deal with AT&T worth “billions” of dollars. The company announced Tuesday that it signed a multiyear agreement with AT&T enabling the carrier to host its business applications on the IBM Cloud. An IBM spokesperson confirmed to CNBC that the multibillion-dollar deal will extend “over several years,” but didn’t specify the exact value of the ... Read More »

Fannie, Freddie and the government: it’s complicated | Rueters

The Trump administration wants to take Fannie and Freddie out of government conservatorship, but doing so will be complicated due to the central role they play in the housing market and the Treasury’s holdings in the two firms. Source: Fannie, Freddie and the government: it’s complicated | Rueters Read More »

Intel stock soars 5% after announcing the $1 billion sale of its smartphone modem business to Apple |  Business Insider

Intel shares rallied more than 5% late Thursday after the company said Apple was buying its smartphone modem chip business for $1 billion. The company also reported second quarter results and a forecast that exceeded Wall Street expectations. Intel said Apple will acquire the majority of Intel’s smartphone modem business, valued at $1 billion. About 2,200 Intel employees will join ... Read More »