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Good morning. Today is Tuesday, October 17th, and I'm your host Julie Morgan.

Lockheed Martin passes a key test for next generation missile defense.

The U.S. could soon announce a deal to ease sanctions on Venezuela oil,

and all state gains amid a report that an action sanctions on

the Venezuelan oil and all state gains amid a report that an activist has taken a stake in the company.

Lockheed Martin on Monday said its prototype of a new weapon system for protecting the United States from intercontinental

ballistic missile attacks has passed a key test.

The preliminary design review for the US Missile Defense Agency

moved the defense contractor one step closer

to winning the billion dollar contract

in its competition with Nothrop Grumman.

With the end of the preliminary review, the company's next generation

Interceptor team is preparing for what is known as a critical design review

in the third quarter of 2025. Lockheed announced that during this stage the Department of Defense

will assess when flight tests can begin with the goal of delivering the missile

as early as 2027. The Interceptor is part of the missile agency's ground-based

mid-course defense system, whose goal is to protect against missile threats from

rogue nations such as North Korea and Iran.

The Defense Department in 2021 awarded development contracts to two teams.

Northrop and RTX, formerly named Raytheon Technologies are on one team, while Lockheed and Aerojet Rocketdyne are on another.

The Washington Post reported on Monday that the Biden administration and the government of Venezuela have agreed to a deal.

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