The Air Force has cut in half its request to Congress for its signature F-35s, dealing a blow to Lockheed Martin Corp., the top US defense contractor.

Lockheed Martin stock falls after the Pentagon cuts F-35 requests for the year. Ouster stock spikes on DoD tech approval.

Australia’s defense minister has dismissed concerns that a deal between the U.S., Australia and Britain to provide his country with nuclear-powered submarines could be in jeopardy, following a report that the Pentagon had ordered a review.

We start in the US, where the Pentagon has launched a review of the 2021 Aukus nuclear submarine deal with the UK and Australia. The US will determine whether it should scrap the project, throwing the security pact into doubt at a time of heightened tension with China.