Business News [UP]

A perfect storm of geopolitical and market issues put the $50 per barrel floor for crude oil prices under threat early in the Wednesday session....Read More

Saab has signed a contract with the Swedish Defense Materiel Administration for maintenance of Gripen fighters, the company announced Wednesday....Read More

Philadelphia Gear Corp. has received a $98 million modification to an existing contract for Main Reduction Gears on the Arleigh Burke-class destroyer....Read More

The Saudi Arabian Oil Co. said Wednesday it established a joint venture with international partners to support the offshore oil and gas sector....Read More

Orbital ATK announced Tuesday it received a $90 million contract from Northrop Grumman for composite materials for maintenance of the B-2 Spirit stealth bomber....Read More

The Three Mile Island atomic power plant — site of the worst U.S. commercial nuclear accident in 1979 — will close in 2019, owner Exelon Corp. announced....Read More

Raytheon has received an $11 million contract to build, assemble, test, and deliver production models of the AN/ASQ-235 Airborne Mine Neutralization System....Read More

China reportedly plans to build an underwater observation system that will cover the disputed East and South China seas, according to a Hong Kong newspaper....Read More

The 14th Virginia-class submarine, the USS Washington, has been delivered to the U.S. Navy by Huntington Ingalls Industries, which has now built seven of the subs....Read More

Lingering disappointment over last week’s OPEC decision to keep production cuts stable and lingering supply-side strains pushed oil prices lower early Tuesday....Read More