Italian Shipbuilder Fincantieri to Hire Up to 1,500 Workers in U.S., CEO Says
Hiring Plans: Italian shipbuilder Fincantieri is set to hire up to 1,500 workers in the U.S. due to labor shortages and rising global defense spending.
Business Growth: The company, active in the U.S. since 2008, is experiencing increased demand for cruise ships, warships, and submarines as Western nations modernize their military capabilities.
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Navy Abandons Plans for Controversial Warship Design
Navy's Warship Orders Cancelled: The U.S. Navy is canceling orders for four new warships due to extensive design modifications that delayed construction by years.
End of Constellation-class Program: This cancellation marks the end of the planned Constellation-class frigate program, which was initially ordered from Italian shipbuilder Fincantieri in 2020.
Ongoing Construction: The contractor will continue work on two ships that are already under construction despite the cancellation of the additional four.
Focus on Faster Designs: The Navy aims to free up resources to focus on vessels that can be designed and assembled more quickly.
Fincantieri Sees Revenue Growth Fueled by 85% Increase in Submarine Sector
Revenue Growth: Fincantieri reported a 20.5% increase in revenue for the first nine months of the year, reaching 6.72 billion euros ($7.78 billion).
Underwater Business Surge: The significant revenue growth was largely driven by an 85% increase in its underwater business segment.
Military Contracts: The company is currently engaged in building the fifth and sixth Constellation-class frigates for the U.S. Navy.
Comparison to Previous Year: The revenue figures reflect a comparison to the same period in 2024, indicating strong performance year-over-year.
Rheinmetall Stock Soars Following $4 Billion Order for Combat Vehicles, Signaling Increased Defense Spending
Rheinmetall's Stock Surge: Shares in German arms manufacturer Rheinmetall rose significantly following a major order for defense products, indicating increased demand in Europe.
Joint Venture Success: The order, valued at 3.41 billion euros ($3.97 billion), was awarded to Artec, a joint venture between Rheinmetall and KNDS Germany, with Rheinmetall receiving nearly 3 billion euros of the total.
Europe Is Racing to Build Its Own Version of the U.S. Military-Industrial Complex
Germany's Defense Investment Proposal: Germany has requested the European Union to activate an emergency clause that would allow defense investments to be exempt from spending rules as part of a five-year rearmament plan.
Rising Military Expenditure in Europe: Global defense spending saw its largest increase since the Cold War, with Europe being the primary contributor, and NATO members are projected to potentially add between €700 billion to €2 trillion in military spending by 2030.
Meloni, Europe’s Trump Whisperer, Tries Her Hand on Tariffs
Italian Prime Minister's Meeting with Trump: Giorgia Meloni is preparing to negotiate with President Trump, who has paused tariffs above 10%, marking her as the first European leader to meet him since "Liberation Day."
Light-hearted Approach: Meloni is attempting to approach her diplomatic mission with a sense of humor despite the significant implications of the negotiations.
The Warship That Shows Why the U.S. Navy Is Falling Behind China
Navy Frigate Contract: A Wisconsin shipyard was awarded a contract in 2020 to build a new class of Navy frigate, the USS Constellation, aimed at improving the U.S. shipbuilding capabilities which have lagged globally.
Design and Timeline: The USS Constellation is set to be equipped with advanced weaponry and is expected to be operational by 2026, utilizing a proven design from the Italian shipbuilder Fincantieri to expedite the construction process.
Navy Abandons Plans for Controversial Warship Design
Navy's Warship Orders Cancelled: The U.S. Navy is canceling orders for four new warships due to extensive design modifications that delayed construction by years.
End of Constellation-class Program: This cancellation marks the end of the planned Constellation-class frigate program, which was initially ordered from Italian shipbuilder Fincantieri in 2020.
Ongoing Construction: The contractor will continue work on two ships that are already under construction despite the cancellation of the additional four.
Focus on Faster Designs: The Navy aims to free up resources to focus on vessels that can be designed and assembled more quickly.
Fincantieri Sees Revenue Growth Fueled by 85% Increase in Submarine Sector
Revenue Growth: Fincantieri reported a 20.5% increase in revenue for the first nine months of the year, reaching 6.72 billion euros ($7.78 billion).
Underwater Business Surge: The significant revenue growth was largely driven by an 85% increase in its underwater business segment.
Military Contracts: The company is currently engaged in building the fifth and sixth Constellation-class frigates for the U.S. Navy.
Comparison to Previous Year: The revenue figures reflect a comparison to the same period in 2024, indicating strong performance year-over-year.
Rheinmetall Stock Soars Following $4 Billion Order for Combat Vehicles, Signaling Increased Defense Spending
Rheinmetall's Stock Surge: Shares in German arms manufacturer Rheinmetall rose significantly following a major order for defense products, indicating increased demand in Europe.
Joint Venture Success: The order, valued at 3.41 billion euros ($3.97 billion), was awarded to Artec, a joint venture between Rheinmetall and KNDS Germany, with Rheinmetall receiving nearly 3 billion euros of the total.
Europe Is Racing to Build Its Own Version of the U.S. Military-Industrial Complex
Germany's Defense Investment Proposal: Germany has requested the European Union to activate an emergency clause that would allow defense investments to be exempt from spending rules as part of a five-year rearmament plan.
Rising Military Expenditure in Europe: Global defense spending saw its largest increase since the Cold War, with Europe being the primary contributor, and NATO members are projected to potentially add between €700 billion to €2 trillion in military spending by 2030.
Meloni, Europe’s Trump Whisperer, Tries Her Hand on Tariffs
Italian Prime Minister's Meeting with Trump: Giorgia Meloni is preparing to negotiate with President Trump, who has paused tariffs above 10%, marking her as the first European leader to meet him since "Liberation Day."
Light-hearted Approach: Meloni is attempting to approach her diplomatic mission with a sense of humor despite the significant implications of the negotiations.
The Warship That Shows Why the U.S. Navy Is Falling Behind China
Navy Frigate Contract: A Wisconsin shipyard was awarded a contract in 2020 to build a new class of Navy frigate, the USS Constellation, aimed at improving the U.S. shipbuilding capabilities which have lagged globally.
Design and Timeline: The USS Constellation is set to be equipped with advanced weaponry and is expected to be operational by 2026, utilizing a proven design from the Italian shipbuilder Fincantieri to expedite the construction process.
