Notable business headlines include the Pentagan halting F-35 fighter jet deliveries, UK-based Darktrace takeover talks fail, and Sec. Blinken pledging $2 billion in Ukraine military aid.
- The Pentagon is temporarily stopping deliveries of F-35 fighter jets after learning a piece of the jets is made in China. This violates federal defense acquisition rules. The jets, made by Lockheed Martin, include a magnet containing alloy that's made in China. The Pentagon did confirm the piece does not pose a security risk.
Shares of UK-based Darktrace plummeted more than 30% following news that private equity group Thoma Bravo pulled its acquisition bid. According to Darktrace, an agreement could not be reached between the two parties. Seems to have to do with price here. Darktrace, which is a cybersecurity firm, says the board is still confident about the company's future, despite the failed takeover.
And Secretary of State Antony Blinken said the US plans to provide another $2 billion in long-term military aid to Ukraine. This, during a visit to the capital of Kyiv. Separately, President Biden approved $675 million for military aid to the country. Combined, that makes a total of $13 and 1/2 billion in US military aid to Ukraine since the Russian invasion started in February.