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Deadly shooting at Kenya mosque
Man in court over family murders
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Pistorius contract suspended by Nike
AUDIO: Why widow hugged husband's killer
Arsenal boss Wenger's job 'safe'
Sequester could cut jobs outside U.S. borders
Sales are suffering as defense budgets are slashed all over the world, but the U.S. is a special case where over $40 billion in defense cuts are set to go into effect next month.
Francis Tusa, editor of Defence Analysis, says that will heavily impact on European defense suppliers.
"If sequestration goes ahead in the way we’re talking about it, they will see a rather heavy hit on turnover," says Tusa.
According to Tusa, that's because U.S. contracts are far more profitable than those in Europe.
The British defense contractor BAE Systems announced a fall in profits today. The company earns 40 percent of its revenue in the U.S. It says it may have to lay off 3,500 workers in its shipbuilding industry if Washington doesn’t stop the cuts.
Other European defense contractors, such as EADS, say as the American military’s budget shrinks, U.S. defense suppliers will vie for new contracts in Europe and elsewhere. In that case, the global defense industry could get a lot more competitive.
Sequester cuts to squeeze BAE, overseas defense suppliers
Sales are suffering as defense budgets are slashed all over the world, but the U.S. is a special case where over $40 billion in defense cuts are set to go into effect next month.
Francis Tusa, editor of Defence Analysis, says that will heavily impact on European defense suppliers.
"If sequestration goes ahead in the way we’re talking about it, they will see a rather heavy hit on turnover," says Tusa.
According to Tusa, that's because U.S. contracts are far more profitable than those in Europe.
The British defense contractor BAE Systems announced a fall in profits today. The company earns 40 percent of its revenue in the U.S. It says it may have to lay off 3,500 workers in its shipbuilding industry if Washington doesn’t stop the cuts.
Other European defense contractors, such as EADS, say as the American military’s budget shrinks, U.S. defense suppliers will vie for new contracts in Europe and elsewhere. In that case, the global defense industry could get a lot more competitive.
Ponting agrees to Surrey spell
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Local TV gets presidential exclusive
President Obama is trying to pressure Congress to avoid $85 billion in federal budget cuts set to take effect March first. The president gave interviews Wednesday to eight local TV stations in markets with a lot at stake in the fight over the so-called sequester cuts.
One of the president’s interviews was with WJZ-TV in Baltimore. He had this message for Maryland workers who could be forced to take unpaid leaves because of the budget cuts:
“There’s no reason they should be furloughed or layed off," he said. "This is a problem that Congress can solve.”
Almost all of stations the president talked to are in places with defense installations that play a large role in their economies.
Larry Sabato, who teaches political science at the University of Virginia, says the president is trying to bring the cuts, known in Washington as the sequester, home.
“He’s using local economics to show people that the sequester is not simply an odd word," he explains. "It has real world consequences and could cost some of them their jobs.”
The strategy could succeed, in the short run, says Jack Pitney, who teaches government at Claremont McKenna College. But Pitney has a word of caution for the president.
"In the long run, if the economy suffers as a result of the sequester, he’s the one that’s going to suffer,” Pitney says.
Because voters tend to blame the White House for the state of the economy.
Who picked the word 'sequester' anyway?
A final thought, which goes like this. We've just gotta find a new word for "sequester." Because really, it's just not fun to say -- or hear. At least "fiscal cliff" had a certain ring to it, even though we didn't really love that either.
Speaker of the House John Boehner is trying to get some traction for "Obamaquester." Funny, if not entirely accurate.
So over to you. Tweet us @MarketplaceAPM or @KaiRyssdal, or comment below with your suggestion.
Attack of the mosquito! Bugs beat DEET
DEET, which is the the active ingredient used by brands of insect repellent including Off, 3M and Cutter has been proven to be ineffective in fending off certain kinds of mosquitoes.
The London-based study showed that a certain kind of mosquito found in tropic regions that spreads diseases like yellow fever was not repelled by DEET after it was exposed to it a second time. However, it is not yet known how long it takes for the repellent to become ineffective.
"It's quite a worrying find," says the BBC's Science Correspondent Rebecca Morelle. Morelle says more research will be needed to gauge the effect of the findings on regular bug repellent use.
Scientists say that although DEET has been proven to be less effective in some cases, it should still be used when a person is exposed to insects.
DEET proven to be less effective mosquito deterrent: Study
DEET, which is the the active ingredient used by brands of insect repellent including Off, 3M and Cutter has been proven to be ineffective in fending off certain kinds of mosquitoes.
The London-based study showed that a certain kind of mosquito found in tropic regions that spreads diseases like yellow fever was not repelled by DEET after it was exposed to it a second time. However, it is not yet known how long it takes for the repellent to become ineffective.
"It's quite a worrying find," says the BBC's Science Correspondent Rebecca Morelle. Morelle says more research will be needed to gauge the effect of the findings on regular bug repellent use.
Scientists say that although DEET has been proven to be less effective in some cases, it should still be used when a person is exposed to insects.
Faith of free school bids revealed
Ofgem sets out energy price plans
Amid Lawsuits, Aereo Brings Broadcast TV To The Internet
Backed by broadcasting powerhouse Barry Diller, a new service picks up broadcast TV signals and makes them available over the Web — and the TV networks don't like that one bit. Currently available only in New York City, Aereo is planning to expand ... if it makes it through the legal challenges.
Amid Lawsuits, Aereo Brings Broadcast TV To The Internet
Backed by broadcasting powerhouse Barry Diller, a new service picks up broadcast TV signals and makes them available over the Web — and the TV networks don't like that one bit. Currently available only in New York City, Aereo is planning to expand ... if it makes it through the legal challenges.




