Out of this world: in-orbit manufacturing is coming to our skies
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Telegraph
42 minutes ago
- Telegraph
British defence giant to make satellites for Trump's missile shield
British defence giant BAE Systems is to build satellites for a new American missile-tracking system that is poised to form part of Donald Trump's 'Golden Dome'. On Thursday, the FTSE 100 company said it had secured a $1.2bn (£880m) contract from the US Space Force to provide 10 satellites for the Pentagon's missile warning and missile tracking programme. The constellation will sit in a medium Earth orbit – between 1,000 miles and 22,000 miles above the planet's surface – and track threats including intercontinental ballistic missiles and hypersonic missiles. It is eventually expected to form part of the US president's broader Golden Dome, a $175bn proposal to stitch together a network of land and space-based sensors and interceptors to shoot down missiles aimed at the United States. Lt Col Brandon Castillo, of the US Space Force, said the system being provided by BAE would 'provide accurate real-time information to decision-makers'. He added: 'This allows for additional resiliency in the missile warning and tracking satellite architecture.' The satellites will use infrared sensing technology and, along with another batch commissioned under the same programme, will have 'the ability to track hypersonic missile threats anywhere on the globe', Space Force said. They are planned for delivery from 2029 onwards. Mr Trump announced the Golden Dome plans last month, reviving an idea for a global missile shield that was first mooted by former president Ronald Reagan in the 1980s – dubbed 'Star Wars' at the time. The Reagan proposals have since been credited with kicking off a fresh arms race that piled fresh financial pressures on the Soviet Union before its eventual collapse. However, experts have questioned whether, even today, it is technically and financially feasible. The Trump administration's idea has also been partly inspired by the 'Iron Dome' missile shield used by Israel to defend itself against rocket attacks, over a smaller area. Interest in the system has grown amid fears about the capabilities of new hypersonic missiles developed by China and Russia, which American defence planners fear could slip through their defences in a conflict. Mr Trump has vowed that his system will be able to block all kinds of missiles, including nuclear weapons, using 'super technology'. 'This is very important for the success and even survival of our country. It's a pretty evil world out there,' he said last month.
The Independent
44 minutes ago
- The Independent
Stablecoin bigwig Circle set to make its debut on the New York Stock Exchange
Crypto enthusiasts will be watching the stock market Thursday as the U.S.-based issuer of one of most popular cryptocurrencies makes its debut on the New York Stock Exchange. Circle Internet Group issues USDC, a stablecoin that can be traded at a one-to-one ratio for U.S. dollars, and EURC, which can similarly be traded for euros. Stablecoins are a fast-growing corner of the cryptocurrency industry that offer a buffer against volatility because they are pegged to real-world assets, like U.S. dollars or gold. That makes them a much more reliable means of conducting commercial transactions than other forms of crypto. Interest in Circle's initial public offering is high. The company's underwriters priced the offering at $31 per share Wednesday, up from an expected price of $27 to $28. The number of shares being sold was raised to 34 million from 32 million. Circle will trade on the NYSE under the symbol 'CRCL.' The dominant player in the stablecoin field is El Salvador-based Tether, which has the stablecoin known as USDT that currently has about $150 billion in circulation. USDC is the second most popular stablecoin market cap, with about $60 billion in circulation. Circle said in a regulatory filing that USDC has been used for more than '$25 trillion in onchain transactions' since its launch in 2018. Revenue-wise the company has seen tremendous growth, going from just $15 million in 2020 to $1.7 billion in 2024. Stablecoin issuers make profits by collecting the interest on the assets they hold in reserve to back their stablecoins. Circle said USDC is backed by 'cash, short-dated US Treasuries and overnight US Treasury repurchase agreements with leading global banks.' Circle's IPO comes amid a push by the Trump administration and the crypto industry to pass legislation that would regulate how stablecoin issuers operate in the U.S. A Senate bill advanced last month with bipartisan support. There is also growing competition in the stablecoin field. A crypto enterprise partly owned by the Trump family just launched its own stablecoin, USD1. Circle said its long track record and values – the company says its mission statement is 'to raise global economic prosperity through the frictionless exchange of value' – will help it stand apart in the field.
Reuters
an hour ago
- Reuters
Self-driving startup Plus to go public through $1.2 billion SPAC deal
June 5 (Reuters) - Self-driving truck startup Plus Automation will go public in the U.S. through a merger with blank-check firm Churchill Capital Corp IX (CCIX.O), opens new tab in a $1.2 billion deal, the companies said on Thursday. The transaction will provide the company with $300 million in gross proceeds, which it plans to use to achieve the commercial launch of its autonomous trucks in 2027. The combined company will operate as PlusAI, after the transaction closes. Citigroup advised Churchill IX on the deal, while Northland Capital Markets served as the financial adviser to Plus.
