On October 16, 2024, defense contractor RTX (formerly Raytheon) agreed to pay over $950 million to resolve Justice Department investigations into fraudulent billing schemes, foreign bribery, and export control violations spanning more than a decade. The settlement addressed three major criminal …
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On February 4, 2021, the Biden administration announced it was pausing indefinitely two major precision-guided munitions sales to Saudi Arabia worth approximately $760 million—a $478 million Raytheon contract for 7,500 Paveway “smart” bombs and a $290 million Boeing contract for 3,000 …
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On January 28, 2021, during a quarterly earnings call just days after Joe Biden’s inauguration, Raytheon CEO Greg Hayes told investors that “peace is not going to break out in the Middle East anytime soon,” framing ongoing regional conflicts and violence as positive factors for …
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On April 3, 2020, Raytheon Company and United Technologies Corporation (UTC) completed a $135 billion merger creating Raytheon Technologies, the world’s second-largest aerospace and defense company behind only Boeing. The merger combined Raytheon’s weapons systems—including the Patriot …
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On January 30, 2020, Raytheon reported better-than-expected quarterly profits driven by surging international weapons demand, with company executives explicitly citing US-Iran tensions as a growth driver. The earnings announcement came just weeks after the January 3, 2020 US drone strike killing …
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