U.S. weapons maker RTX, formerly know as Raytheon, has reported strong third-quarter earnings while facing nearly a billion U.S. dollars in fines for defrauding multiple countries, including Taiwan.
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00:00U.S. arms maker RTX is reporting strong third-quarter earnings while facing massive fines for defrauding
00:07multiple countries. The company, formerly known as Raytheon, agreed to pay US$950 million in
00:14settlements last week. That's after a U.S. government investigation found that the weapons
00:19maker had engaged in fraud, bribery and overpricing, targeting multiple countries.
00:26Taiwan alone was overcharged US$250 million in two defense deals. Despite this, RTX reported
00:346% growth in sales compared to the same quarter last year, driven by demand for defense systems
00:41amid multiple wars.