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The three nations announced their first major AUKUS Pillar Two initiative to develop advanced underwater drones for seabed protection and military operations, with Britain committing £150 million.
BenzingaThe United States, United Kingdom and Australia announced a joint effort to develop advanced underwater drone technology designed to safeguard critical seabed infrastructure and strengthen military capabilities across multiple regions. The initiative marks the first major project under AUKUS Pillar Two, which focuses on advanced defense technologies.
The program centers on uncrewed undersea vehicles equipped with sophisticated payloads, sensors and weapons systems.
Officials said the drones will support surveillance, reconnaissance, logistics missions and precision strike operations. The three allies expect the new system to reach operational readiness by 2027, BBC reports. John Healey, the UK defense secretary, said Britain will invest £150 million, or about $201 million, into the effort.
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ForbesFederal investigators have traced iceberg lettuce supplied by Taylor Farms to Taco Bell locations in five states as a potential source. Michigan has recorded 4,312 confirmed cases and 102 hospitalizations as of July 16.
americanbanker.comA Federal Reserve official stated that current policy settings allow responses to incoming economic information. The remarks offered no specific projections or rate commitments.
washingtonpost.comMajor U.S. indexes ended Friday lower after chipmakers and other AI-related companies fell. The S&P 500 dropped 0.5 percent while the Nasdaq composite declined 1.2 percent.