Trump to unveil $1 trillion infrastructure plan in 2017: Official

U.S. Transportation Secretary Elaine Chao said the Trump administration would unveil a $1 trillion infrastructure plan later this year, but she did not offer details of funding for projects. Chao said at an event at the department’s headquarters that the...

Insurer Lloyd’s of London to set up post-Brexit subsidiary in the ‘heart’ of Europe

Lloyd’s of London, the world’s largest speciality insurance market, has confirmed reports that it is to open an EU subsidiary office in Brussels that will be enable it to avoid any loss of business as the U.K. splits from the European Union. The...

Chinese tech firm LeEco’s $2 billion acquisition of Vizio stalled

Chinese tech firm LeEco’s $2 billion acquisition of Vizio is delayed, according to local media reports. The deal with Vizio, a major television maker based in the U.S., was first announced last July, and would have turned LeEco into one of the world’s...

Huge nuclear cost overruns push Toshiba’s Westinghouse into bankruptcy

Westinghouse Electric, a unit of Japanese conglomerate Toshiba, filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast. The bankruptcy casts doubt on the future of the first new...

Air Force pushes B-21 advanced stealth bomber with more flexible tech approach

The Air Force’s super-secret B-21 long-range strike bomber under development will feature flexible technology that will allow its capabilities to be modernized over time to stave off obsolescence, a top acquisition general testified Wednesday to a Senate panel....

Trump administration pursues $5 billion sale of F-16’s to Bahrain

President Donald Trump’s administration has informed Congress of its plan to pursue the $5 billion sale to Bahrain of 19 Lockheed Martin F-16 aircraft and related equipment, which was held up last year by concerns about human rights, a congressional source said...