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Lockheed Martin Subsidiaries Fined $70M for Navy Overcharging, US

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Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts, the U.S. Department of Justice announced Friday.

The federal agency says Sikorsky Support Services, based in Stratford, Connecticut, and Derco Aerospace, headquartered in Milwaukee, Wisconsin, knowingly entered into an improper subcontract for spare parts and materials for aircrafts used to train Navy pilots.

Under the contract, Sikorsky purchased the parts from Derco at the cost Derco paid other suppliers, plus a 32% markup.

Sikorsky then billed the Navy for the price it paid Derco, in violation of federal regulations barring such arrangements, which prosecutors said drive up government costs.

Today´s settlement demonstrates that the Justice Department will ensure that government contractors do not skirt the law and engage in self-dealing that may artificially inflate their charges at the expense of the American taxpayers, said Brian Boynton, head of the DOJ’s civil division.

Lockheed Martin, based in Maryland, said in a statement Friday that it is pleased that the settlement will bring this case to a conclusion, noting that there also was no finding of wrongdoing by Sikorsky or Derco Aerospace.

Prosecutors said the settlement resolves a lawsuit filed by a former employee of Derco under the whistleblower provision of the federal False Claims Act. The case goes back to 2011, or several years before Lockheed Martin acquired Sikorsky, the maker of the military’s Black Hawk helicopters, in 2015.

Darrin Jones, of the U.S. Department of Defense’s Office of Inspector General, said the settlement should serve as a deterrent for those looking to exploit the agency’s procurement process.

Overinflation of parts and material costs for the repair and maintenance of aircraft affected naval air training and is a disservice to the American taxpayer, added Greg Gross, of the Naval Criminal Investigative Service’s Economic Crimes Field Office.

Australian Defence Force Warned of Inadequate Preparedness amid Strategic Shift

The planned development of the Australian Defence Force (ADF) will leave it unable to cope with the unpredictable nature of conflict, warns former Major General Adam Findlay. The government said it would increase defence spending by an additional $50 billion (US$33.28 billion) over ten years, on top of the $270 billion (US$179 billion) already dedicated to the ADF under the Morrison government in 2020. The new investment continues the ongoing development of Australia’s porcupine strategy, and includes the acquisition of long-range weapons and drones. This strategy of denial revolves around the idea of retaliation, so that if a country were to launch an attack on Australia, the ADF could, in turn, respond quickly and aggressively to cause severe damage to that country. Taiwan has adopted a similar precaution against the Chinese Communist Party (CCP).

New Suffolk Police Chief Named After Nationwide Search, US

A 27-year Suffolk police officer has been named the city’s new police chief. James Danny Buie will take on the role starting July 8, following his appointment by City Manager Albert S. Moor II. Buie has been serving as interim chief since October after the retirement of Chief Alfred Al Chandler. The city conducted a thorough search, gathering community feedback and internal input, before selecting Buie for the position. With an extensive career in law enforcement, Buie has held various roles within the department and obtained numerous qualifications. He brings a wealth of experience and expertise to his new position as chief of the Suffolk Police Department.

Clearview AI Settles Privacy Lawsuit for Over $50 Million, US

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Facial recognition startup Clearview AI has settled a privacy lawsuit in Illinois, addressing allegations related to its expansive database of faces. The settlement, estimated to exceed $50 million, presents a unique resolution where plaintiffs may receive a portion of the company’s potential value. While this agreement marks progress, Clearview maintains its stance of non-liability. The lead plaintiffs’ attorney views this settlement as a practical solution considering Clearview’s financial capacity. However, critics argue that the agreement fails to address the core issue of privacy violations. The legal resolution, approved by Judge Sharon Johnson Coleman, underscores the complexities surrounding digital privacy in the modern age.

Noah Lyles Aims to Elevate Track Profile with ‘Sprint’ Series Launch, US

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Noah Lyles, the 100 meters world champion, aims to assert his dominance on and off the track ahead of the Paris Games. Despite tough competitors, Lyles is confident in his improvement since his 2021 Olympic bronze. He recently promoted Netflix’s docu-series ‘Sprint,’ hoping to elevate the sport’s profile.

Noah Lyles wants to stamp out his territory on and off the track ahead of the Paris Games, as the 100 meters world champion begins his latest U.S. Olympic trials campaign this week with enormous expectations on his shoulders.

A speedy 9.85 second performance in the 100 meters earlier this month in Kingston saw him finish second to budding Jamaican rival Oblique Seville and Lyles will look to improve upon that time at the famed Hayward Field in Eugene, Oregon.

Lyles faces tough challengers in both events but says he is a different person since picking up Olympic bronze in the 200 meters three years ago after honing his mental health.

I’m planning to go sub-80 at U.S. Championships. I feel like that would just put your stamp of approval, Lyles, who will also compete in the 200m, told Reuters. You guys want it, you have to come get it.

Lyles became the first athlete since Usain Bolt in 2015 to win the sprint double at the worlds in Budapest last year and has long sought to bring his sport into the public limelight as the Jamaican great did.

Appearing at a New York party this month to promote Netflix’s new docu-series Sprint, he offered a reminder of why he is one of track’s most valuable spokesmen.

Fans hope the series will do for athletics what Drive to Survive did for Formula 1 in the United States, with Lyles and Italian Olympic champion Marcell Jacobs among those featured. It launches on the streaming giant on July 2. It’s something that I’ve definitely wanted to see for the sport for a long time, said Lyles. My biggest question is just what are we going to do after it comes out.

The trials run from June 21-30.

India Set for SUV Green Car Boom: Tata, Hyundai, Kia, Maruti, Mercedes-Benz to Unveil New Electric Models

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New Delhi: Going may be challenging for green cars on concerns around charging infrastructure and relatively higher prices, but India will see a flurry of SUV launches, including green versions of some popular models, within six-to-eight months.

The new models will be introduced by almost all the top carmakers – Tata Motors, Mahindra, Hyundai and sibling Kia, Maruti Suzuki, JSW MG Moto, and luxury maker Mercedes-Benz.

Tata Motors will be first to add to its robust EV portfolio. The company, which last year accounted for almost 70% of electrics sold in the country through green versions of Nexon and Punch SUVs and Tiago hatch and Tigor mini sedan, will drive in Harrier EV. Harrier currently comes with a diesel engine and is priced upwards of Rs 17 lakh (on road). Its green version is expected to be priced some degrees higher, considering how aggressively the company has priced Nexon EV, which comes at par with the diesel variant.

Before Harrier EV, Tata is expected to introduce much-awaited Curvv. The crossover car, which has been showcased at Auto Expo, will offer both electric and ICE (internal combustion engine) options. The plan is to launch both EV and ICE versions together, a company official said. It is expected that the model will be priced around the Rs 15 lakh mark, but a lot depends on the battery capacity.

Hyundai will debut Creta electric and Kia will drive in luxury EV9, that will be priced around Rs 1 crore.

JSW MG Motor, which has ZS and Comet EVs, plans to drive in Cloud EV crossover utility vehicle. The company’s Chinese parent SAIC already sells this model in some markets under different badging. This is expected to be priced under Rs 20 lakh and will be placed below ZS.

Mahindra & Mahindra is also preparing to drive in a green version of XUV7OO model, whose launch will be closer to first born electric model (BE 05). XUV7OO electric is likely to be priced under Rs 20 lakh.

And Maruti Suzuki, the biggest carmaker, will not be behind. It will finally drive in its first EV, which is likely to debut at Auto Expo in 2025. The model will be based on eVX concept SUV that Maruti had showcased at the previous Auto Expo, with a battery capacity of 60kWh and a single-charge range of 550 km. Maruti’s model will be priced in Rs 10-15 lakh bracket, if the company will opt for a bigger battery size.

On the luxury side, Mercedes-Benz will drive in EQA around August and this will be the smallest electric car in its portfolio. Mercedes expects to get a quarter of its sales from EVs by 2026. The company currently sells EQS luxury saloon, EQB and EQE electrics in India.

Global Smart Office Solutions Market to Grow by USD 3.96 Billion by 2028 – Technavio Study

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The global smart office solutions market size is estimated to grow by USD 3.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.65% during the forecast period. Increase in number of startups is driving market growth, with a trend towards integration of AI and machine learning algorithms into smart office solutions. However, high upfront costs associated with implementing smart office poses a challenge. Key market players include ABB Ltd., Avnet Inc., Cisco Systems Inc., Coor Service Management Holding AB, Crestron Electronics Inc., DEKOM AG, Develco Products AS, GoBright B V, Honeywell International Inc., Johnson Controls International Plc., Komstadt Systems Ltd., Konig Neurath AG, Koninklijke Philips N.V., Lutron Electronics Co. Inc., Schneider Electric SE, Senion AB, Siemens AG, Signify NV, Smart Office Software Solutions, and Tata Teleservices Ltd.

Entrepreneur Claims to Turn Back Biological Clock at 27 with Supplement Routine, US

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Internet divided over 41-year-old who claims ‘biological age’ is 27

Sean Kelly may have been born nearly five decades ago, but he claims he is actually just 27 years old thanks to his extensive supplement routine he says turned back his biological clock.

The California-based entrepreneur takes more than 40 supplements a day to achieve this feat, he said in a recent thread on X, which has more than 10.5 million views.

Mr Kelly claims the supplements are necessary to turn back time and that food alone is not enough to get the nutrients you need to be at optimal health.

But many are skeptical, with X users commenting: ‘Total lie… Body can manage this by itself’ and ‘Fix your diet if you need this many supplements.’

And people are pointing out his biohacking advice may not be purely altruistic. A disclaimer on his tweet states the company he works at, The Family Fund, is an investor in two of his recommended products, a biological age testing kit and supplement line- seemingly giving him financial motivation to promote claims experts say are not supported by science.

Popularized by millionaires like Bryan Johnson, more people are interested in trying biohacking, which involves rigorous daily exercise, strict diet and sleep routines, and is measured through blood tests, sleep trackers and in some cases, erection trackers.

Sean Kelly, a 41-year-old entrepreneur based in California, has been investing in and founding wellness companies since at least 2008.

In this photo shared on X, Mr Kelly claimed ‘food is typically not enough to give your body the full amount of nutrients you need to achieve optimal nutrition.’

Mr Kelly uses more than 40 supplements, and acknowledged in the thread it’s easy to buy poor-quality supplements, but promoted one company – Momentous – as one of the only brands he uses.

Mr Kelly’s venture capital firm, Family Fund, invests in Momentous, according to their website.

He also wrote that he gets his blood tested by a company called Lifeforce four times a year. According to Family Fund’s website, the company also invests in Lifeforce.

For one biomarker blood test, telehealth visit and clinical report, Lifeforce users pay $549, though the company offers a membership, which costs $349 up front, plus $129 per month.

Membership includes retesting every three months and a discount on the company’s products, including supplements.

For the tests, people can either prick their finger at home or go into a lab to get blood drawn or provide saliva samples.

Mr Kelly said he gets four blood tests done a year and sends them to the company, which gives him a score out of 100 based on how biologically healthy his blood seems.

His score, he claims, is 93/100, amounting to the score of a 27-year-old.

Mr Kelly founded a healthy vending machine company in 2008. Since then, he’s been attached to various food and wellness companies. He’s a general partner at a venture capital fund that invests in these kinds of products as well.

As biohacking becomes more popular, more companies are offering ways to test your biological age, though they often run hundreds of dollars.

One company, TruMe Labs, offers a one-time biological age test kit using your spit for $110. GlycanAge advertises their one time blood test for $348.

The tests look at epigenetic changes, which are microscopic signs of age that accumulate in your cells over time – like rust on a nail or scratches on a CD. This is called an epigenetic clock.

Epigenetic clocks were originally identified by scientists as a way to determine how much damage a cell has suffered over its lifetime.

The markers, known as epigenetic clocks, have since become a standard measurement for determining if someone’s longevity is in sync with their actual age.

Though scientists use epigenetic clocks in labs, the measurement is still experimental, so it’s not yet useful for individuals at home, Dr Daniel Belsky, an associate professor of epidemiology at Columbia University, told The New York Times.

‘I think you could say the best of them [biological age tests] are not completely useless,’ Dr Belsky, who studies epigenetic clocks, said.

He added: ‘But these are not tried and tested clinical tools yet, so they’re more for the curious.’

Some research has even shown that biomarkers fluctuate over a 24-hour period, meaning you could get different results based on the time of day you get your blood drawn.

It’s not that it’s a bad measure, it’s just that it hasn’t been perfected yet, so people might be getting misleading results, experts say.

Even if it was a perfect measure, scientists have not come to any consensus about what to do about advanced aging.

There are no proven anti-aging techniques, despite what biohackers claim, Dr Charles Brenner, a biochemist at City of Hope, a non-profit research center in California, said.

He told the Guardian that someone who uses anti-aging routines, ‘can say that he’s put himself on a better aging trajectory, but one cannot say that he has reversed or eliminated aging.

‘There are people who aged remarkably well and lived for 110 to 122 years. None of those people had highly regimented practices.’

The supplement brand Mr Kelly had promoted is Momentus, which is chaired by neuroscientist and wellness guru Andrew Huberman.

Mr Huberman, however, has been accused by former partners of irresponsible behavior, including allegedly spreading sexually transmitted diseases during an affair, leading doctors to call his expertise into question.

Mr Huberman ‘fills his podcast with confident displays of pseudoscience,’ Dr Andrea Love, a microbiologist, and immunologist told Slate.

She added: ‘It contains grains of truth, but those grains of truth are exaggerated beyond the point of usefulness, even so far as to lead away from the truth.’

This, Dr Love previously told DailyMail.com, could extend to his supplements. ‘They are saying it’s science-backed or it’s got evidence or data behind it – they’re extrapolating a nugget of truth.’

Nutrition experts nearly universally disagree with Mr Kelly’s claim that the body can’t get enough nutrients from food alone.

And claims like these have led many to believe they need to spend money on pills that don’t do much, Dr Pieter Cohen, an internist, and associate professor at Harvard Medical School said.

‘The thinking is that taking these pills can somehow improve your health or protect you from disease,’ Dr Cohen said.

He added: ‘while some people may need specific vitamins or supplements to help with deficiencies, for the average healthy person, following a diet with plenty of fruits and vegetables provides all the essential vitamins and minerals.’

If you have a health-related story, feel free to email us at health@dailymail.com.

Tech Sector Rating Downgraded to Neutral by Truist Amid Overvaluation Concerns

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Truist downgraded its rating on the Technology sector (SP500-45TR0)(XLK) to neutral from overweight on Friday following a sharp run-up by the group against the S&P 500 (SP500)(SPY).

Keith Lerner, chief market strategist at Truist, said Technology has gained about 40% since it overweighted the sector in November 2023, an outperformance of the S&P 500 (SP500)(IVV) by about 16 percentage points.

Although we still have a favorable long-term view of Technology, on a shorter-term basis the sector appears extended, and we would not be chasing the sector, Lerner said in a note.

The downgrade is simply meant to highlight that the risk/reward in our work from a shorter-term perspective is less attractive, he said. There will likely be a better opportunity to deploy capital in a meaningful way, and we will be looking for a better entry point to upgrade the sector in the future.

Tech’s (XLK) relative outperformance on a one-month basis was recently near 11%, reaching the most extreme since 2002, he said. The most recent outperformance has been largely fueled by an expansion in valuations and optimistic sentiment, he said. Indeed, since May 1, the tech sector’s forward P/E has jumped from 26x to 31x (~19% increase), Lerner said.

Nvidia’s (NVDA) stock has been at the fore of the artificial intelligence investment trend, with the AI chipmaker up +156% this year. Alphabet (GOOG)(GOOGL), Meta (META) and Microsoft (MSFT) have also shot higher on prospects for their AI innovation.

Lerner said the Tech sector appears far from bubble territory and that secular tailwinds will persist around AI.

India Slams ABC Documentary Alleging Spying Activities in Australia

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NEW DELHI: India slammed a recent ABC documentary which claimed to have uncovered details about alleged efforts by Indian officials to silence Sikh critics in Australia, saying it contains blatant untruths, is biased and reflects unprofessional reporting.

MEA spokesperson Randhir Jaiswal, in what was the first Indian reaction to the documentary, said it appears to serve a particular agenda to malign India.We obviously oppose any such attempts to condone, justify and even glorify terrorism, he said. The documentary claimed four Indian spies posing as diplomats were also expelled by Australia.

According to the documentary, apart from targeting Sikh separatists, Indian intelligence officers were trying to gain access to sensitive defence technology and airport security protocols. They were targeting former and current politicians as well as a state police service, it said.

The report further confirmed at least four intelligence officers were asked to leave Australia, adding some had been posing as diplomats in India’s high commission. The documentary also quoted an Australian govt spokesperson as saying the govt was deeply concerned about the allegations. Australia values diversity and inclusion, where people should be safe and free to express who they are, including their faith and heritage. We do not tolerate violence or threats of violence, said an official statement.