Defense & Aerospace

National Security

The global defense industry is expected to grow this year at its lowest rate since 2013, as governments focus spending on the coronavirus and logistical and economic hurdles disrupt sales and manufacturing.

WSJ News Exclusive

Richard Branson’s Virgin Orbit has hired bankers to help it go public this year through a special-purpose acquisition company, his latest effort to take advantage of a recent boom in similar, blank-check listings.

Tech

The Defense Department labeled smartphone maker Xiaomi as a company that supports China’s military partly due to an award given to its founder for his service to the state, along with Xiaomi’s ambitious investment plans in advanced technologies such as 5G and artificial intelligence.

Deals

CAE agreed to buy L3Harris Technologies’ military-training division for $1.05 billion, in a move that would expand the Canadian aerospace company’s defense business.

Tech

Private companies used to raise round after round of venture capital before listing publicly. But thanks to SPACs, more zero-revenue startups than ever before are jumping into the public markets with valuations exceeding $1 billion.

U.S.

Aviation regulators need to strengthen their oversight of aircraft safety even after reforms undertaken in the wake of the two Boeing 737 MAX crashes, a government report has concluded.

Latin America

The oil company’s board met to decide whether to approve President Jair Bolsonaro’s controversial appointment of an army general as chief executive in an apparent bid to force the firm to subsidize fuel prices.

Heard on the Street

The latest grounding of Boeing planes isn’t the start of another 737 MAX debacle. But it is more unwelcome publicity for an already battered U.S. aerospace industry.

World

A United Nations report accuses Blackwater founder Erik Prince of assisting in violations of an international arms embargo on Libya, placing the military contractor at risk of U.N. sanctions, according to a diplomat with access to the report.