President Donald Trump has issued a warning to defense firms about limits on share repurchases and executive compensation, citing concerns over investments in modernizing weapons production facilities. The move comes as the administration plans to issue an executive order targeting defense company share buybacks, dividends, and executive compensation.
L3Harris Technologies has agreed to sell a majority stake in its Propulsion and Power Systems division to AE Industrial Partners for $845 million. The deal ensures the company's portfolio aligns with US mission priorities, according to L3Harris CEO Christopher Kubasik.
The US Air Force expects to receive its first modernized Air Force One aircraft in mid-2028, roughly two-and-a-half years later than initially forecast. The program's revised timeline comes after Boeing secured a deal personally mediated by President Trump in 2018 and faced numerous challenges, including COVID-19 disruptions and workforce woes.